Cash In Advance Loan Approval Rate Rises 110% Over July
Cash In Advance Loan Approval Rate Rises 110% Over July
Costa Mesa, CA (PRWEB) August 11, 2011
The US bank bailout had forced businesses to take on high interest-bearing bad credit busines loan options. Recently, new, unsecured business lending sources have responded by allowing unsecured merchant cash advances with only 12% interest without credit approval, according to MerchantCashinAdvance.com.
“Banks nowadays are no longer engaging in small business lending” said Michael Thompson, managing director at MerchantCashinAdvance, a company specializing in small business assistance with cash advances. “A majority of businesses are being denied cash by traditional lenders, and a large problem is that most businesses are not even aware of the entire cash in advance procedure.”
The cash in advance assistance program by MerchantCashinAdvance.com is a response to these issues. “Our goal is to fund over $ 15 million a month,” says Thompson. “We are always approving new borrowers and are staying committed to financing existing small businesses, and guaranteeing approval of any business who has been in business for 6 months or more in our small business assistance program.”
The entire business cash in advance industry has experienced double digit growth in the past year with an increase of over 23 percent in businesses funded and a 27 percent increase in financing. Merchantcashinadvance.com’s approval rate of business cash advances is above 90 percent, an exceedingly high number unheard of in an era of increasingly tightening credit.
For inquiries, call Merchantcashinadvance.com at 877-875-0231
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