Are There Any Other Options for Small Business Owners?

An article by admin    1 Comment

According to a recently released Wall Street Journal article, “U.S. government programs have yet to boost small business lending.” 

 Key Points from Article

• In 2008 and 2009, large banks that received government bailouts actually cut lending to small businesses.
• At the 22 largest banks to receive government bailouts, average small business loan balances fell 4.6% between April and November of 2009.
• Originations for new loans slid by 7.4%.

Although government lending to small businesses may not be up to par, small business owner still have other options available to them.

The merchant cash advance makes it possible for small business owners to get up to $500,000 in business funds, which can be used without restrictions.  Merchants who meet the following minimal requirements can have funds wired into their accounts in as little as seven business days.

-          Processes at least $3,500 in monthly credit card sales

-          Haas owned business for at least six months

-          Has no unresolved bankruptcies

-          Has at least one year remaining on business lease