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Merchant Cash Advance For New Entrepreneurs

Written By wafa gurape on Jumat, 20 Desember 2013 | 08.27

http://www.iCashLoans.com/?c=214156In a Dun & Bradstreet small business survey, released in May 2000, small business owners were asked why they decided to go into business for themselves and were given the option to name more than one reason. 41 percent said they joined a family business, 36 percent wanted more control over the future, 27 percent were tired of working for someone else, and 5 percent experienced downsizing or were laid off.

You may fall into one of these categories, or you may have your own reason for diving into entrepreneurialism, but one thing all small business owners have in common, is the need for business financing to grow their business.

According to the small business administration, commercial banks and other depository institutions are the largest lenders of debt capital to small businesses. The SBA says they accounted for almost 65 percent of total traditional credit to small businesses in 2003. And according to the U.S. Census Bureau, 77% of people use their own money or family assets for business startup funding.

Some entrepreneurs already have sufficient funds for their business. Others go to various sources to come up with the money they need, and still, many new entrepreneurs think they have enough money to operate a successful business, but a few months in to their ventures, they realize that they are going to need more if they want their businesses to succeed.

Fortunately, new owners of retail businesses have a special option for business financing; the merchant cash advance. A business owner who has owned his/her business for at least four months can receive a merchant cash advance by completing a short application and providing the last four months of his/her business's credit card statements.

Merchant cash advances make it possible for owners of retail businesses to get business funds, and repay them through their businesses' future credit card sales. These payments are made automatically, eliminating the need for a borrower to make fixed monthly payments. This may be an excellent benefit for small business owners, as in 2006, Focus Credit reported that 52 percent of people surveyed say they've made late payments on bills and/or credit cards.

Business financing should no longer be a problem for new owners of retail businesses. These problems may be able to be solved with a merchant cash advance.

Article Source: http://EzineArticles.com/1626253
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