Online web merchant accounts accept all major credit cards instantly. Web merchant accounts are also known as credit card merchant accounts, ecommerce merchant accounts, internet merchant accounts and online merchant accounts. Basically, each web merchant account has the ability to accept credit cards payment online 24/7 from local and international credit cards. This feature is extremely important to ensure your web site can sell your products online while you are sleeping.

Merchant Cash Advance Provide Capital To Expand

By Daniel Marcus Manson

My brother and I quit our jobs a few years ago to start our own home renovation business. We know all too well why they say timing is everything, because just when we were gaining traction, our business was walloped by the recession. People who are losing their jobs don’t have the cash to be putting on that addition, replace their windows or build a new deck.

So what did we do? While the layoffs devastated the real estate market, other renovation companies went under and banks quit lending out money to small businesses, so we couldn’t get a loan to carry us through the tough times. We used a Merchant Cash Advance to raise additional capital and expanded. Besides the fact that we could actually qualify for funds using this method, once we had it, there was no bank account manager breathing down our necks and demanding a say on how we spent it.

In case you don’t release how financing of this nature works, it’s a form of credit card advance. Since our customers frequently pay by Visa or MasterCard and our credit card sales (even during the worst of the slowdown) easily exceeded $2,500 per month, we were able to work with an alternate lender to secure a cash advance based on future credit card transactions. Our repayment is based on a percentage of future credit card sales, so if we did see further slowdowns in bookings, our repayment would have a corresponding dip; as opposed to a traditional loan that keeps its fixed payment amount, regardless of circumstances. We used Rapid Capital Funding, since they specialize in this sort of financing, but there are other lenders in this area. Turnaround was fast, we didn’t have to spend the better part of a day filling out forms, there were no closing fees and even better, we did not have to put up personal collateral to secure a Merchant Cash Advance.

So while our competitors went under, we had the cash available to react to the circumstances and we actually expanded, keeping our reno business, but using the funds from the credit card advance to purchase additional equipment and hire staff for a new division that works with banks to provide maintenance on foreclosed homes. It’s kind of ironic when you think about it; the banks didn’t have the time of day for us when we applied for a business loan, but if we hadn’t raised the capital to expand by way of a Merchant Cash Advance, their foreclosed real estate assets would be depreciating further in value.

About The Author

Ken Walls owns a successful small business that he expanded by using a Merchant Cash Advance. The additional funds, which traditional banks had no interest in loaning him, provided the capital to take advantage of conditions and expand his business at a time when many competitors who weren’t aware of credit card advance options missed their inflexible loan payments and went under.

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