Minority Business Financing: Merchant Cash Advance

Right now, business owners spend between 7%-15% of their payrolls on health insurance coverage, and experts say this cost will continue to rise, leaving business owners to reduce benefits, reduce wages or drop coverage altogether. If health care costs are making it difficult to run your business, consider a merchant cash advance. A merchant cash advance is a business loan alternative that can provide minority business financing within hours of application.

Rising health care insurance costs have prompted support for a new initiative among minority business owners that is designed to reduce the overall cost of health care and expand coverage to currently uninsured individuals. According to the chairmen of the Greater Baltimore Black Chamber of Commerce, the Black Chamber of Commerce of Anne Arundel County, and the Prince George’s Black Chamber of Commerce, the Maryland Health Care For All initiative would reduce the overall cost of health insurance premiums for minority business owners, provide additional coverage that is not currently available, and reduce the number of uninsured state residents by creating a coverage pool that would be open to self-employed persons and very small firms.

If your US-based business generates at least $2,500 in Visa or MasterCard credit and debit receipts, you’re likely qualified for a merchant cash advance. With a merchant cash advance, you sell a portion of your future credit and debit transactions for immediate cash. As your transactions are processed, a portion of each sale is used to repay the merchant cash advance. The rest of the sale comes back to you. There are no minimum monthly payments to make and no repayment schedule to follow.

Good credit, bad credit or no credit – Rapid Capital Funding can help you get the minority business financing you need. A merchant cash advance may be the best business loan alternative available. Contact Rapid Capital Funding today to see how you can make a merchant cash advance work for you.

Photo Credit: Wally Gobetz

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Minority Business Financing Merchant Cash Advance

A study conducted by Biz2Credit during the first quarter of 2009 shows that businesses owned by African-American women are among the nation’s most credit starved ventures. More than seven out of ten female respondents and six out of ten male respondents who were also African American said that finding minority business financing posed the biggest challenge to their businesses.

Rapid Capital Funding offers a business loan alternative that doesn’t rely on credit. Regardless of whether your business has good credit, bad credit or no credit, a merchant cash advance can put the minority business financing you need in your pocket today.

With a merchant cash advance, you sell a portion of your future credit card transactions to Rapid Capital Funding. In exchange, you get the cash you need to finance your business. If your business accepts Visa or MasterCard and generates at least $2,500 each month in credit and debit receipts, your business is likely qualified to borrow up to 1.5 times your monthly credit transaction volume.

Even with added incentives to make bank loans, minority business financing has suffered. Banks are making very few loans to businesses, regardless of their minority status. Businesses with little credit history are unlikely to find the minority business financing they need. With Rapid Capital Funding’s business loan alternative, however, cash is readily available for any reason, and often within a matter of hours. You won’t get that kind of assistance from a bank.

Contact Rapid Capital Funding today to see how our business loan alternative can supply the minority business financing your enterprise needs.

Photo Credit: TonytheMisfit, via Flickr

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Minority Business Financing: Merchant Cash Advance

When it comes to minority business financing, small business owners have few options. Although government programs exist specifically to provide minority business financing, many small business owners can’t or don’t take advantage of them for one reason or another. Small business loan volumes have evaporated as bank lending standards have tightened. Small business owners may be forced to remortgage their homes or other assets just to get the minority business financing they need to operate their businesses.

For some, an ideal financing option is a merchant cash advance from Rapid Capital Funding. A merchant cash advance isn’t based on your credit, and it isn’t a loan. With a merchant cash advance, you sell a portion of your future credit and debit transactions for cash up front. Your credit is virtually irrelevant because the merchant cash advance is based on the Visa or MasterCard transaction volume of your business.

As the transactions come in, a portion of the sale is used to repay the merchant cash advance. The rest of the transaction cash comes back to you. There are no monthly payments to make, no collateral to put up and no personal guarantees. You get the minority business financing your small business needs, and repayment is a breeze.

Contact Rapid Capital Funding today and learn how you can use a merchant cash advance to take your business to the next level.

Photo Credit: Eric Mesa, via Flickr

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