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Why Every Small Business needs an Alternative Funding Action Plan?

Why Every Small Business needs an Alternative Funding Action Plan?

Why do you need an alternative funding action plan for your small business?  Credit is tight on main street.   Those too big to fail banks and corporations are swimming in cash.  Most of the money is held with a stronger grip than scrooge or is stashed away offshore to avoid the punitive 39% corporate tax, the highest in the world.   What is a small business to do when it needs working capital?   

Blindbid always advises to start with your bank.   Even if you don’t need money right now, pretend that you do.  The economic  situation will not change much ...


Merchant Cash Advance: Part 4

Part 4 – Merchant Cash Advance How to Find Reputable Companies and Avoid Pitfalls

In parts one and two and three, I talked about what a merchant cash advance is, what the qualifications are, and  how it works.     In this segment, I will cover how to find a reputable cash advance company, and what pitfalls to avoid.

If you want to find a reputable merchant cash advance company there are several ways to do it.   I highly suggest that you get multiple quotes.  There are several reasons for this. The two most important reasons are you want to find a provider ...


Merchant Cash Advance: Part 3

Part 3 – Merchant Cash Advance How It Works

In parts one and two, I talked about what a merchant cash advance is and the qualifications.   In this segment, I will cover the cash advance payback, the payback period, the factor, the factor fee, and the daily retrieval rate.

So, your business has been approved for a cash advance.  In most cases, you will receive up to 100% of your monthly credit card processing volume or your monthly sales volume.  The total amount will vary from provider to provider.  The standard is 100% of your monthly credit card processing volume. So ...


Merchant Cash Advance: Part 2

Part 2 – Merchant Cash Advance Qualifications 

In part one, I talked about what a merchant cash advance is.  In this segment, I will cover the merchant cash advance qualifications.

A cash advance provider will look at your monthly sales volume and your monthly credit card processing volume to determine maximum advance amount.  Typically, the advance amount is equal to your monthly credit card volume and sometimes your monthly sales volume.  The providers use your credit card volume as proof of sales.  You can submit bank statements if you want to go the ACH route or if you want a bigger ...


Merchant Cash Advance: Part 1

Part 1:  What is a merchant cash advance?

This is Dana Barrett  with Blindbid.com, where we help small merchants get a better deal.  Today, I’m going to discuss Merchant Cash Advance:  Is it right for your business?    This is the first part of a four part series. 

More and more businesses are turning to alternative forms of credit, because banks are not lending.   A recent study by Pepperdine University revealed that 60% of small business bank loans were denied in 2011.   To pick up the slack, private capital providers have stepped into the market.   

Cash advances are not ...


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