I`m looking for some funding to create a cash flow buffer. I own a service business and have essentially no assets of any value and have only been in business for a year, so the banks won`t talk to me. My business grossed just shy of $1M last year, and had a pretty decent net, but cash flow continues to be a problem, so I`m trying to get a buffer in my bank.
I`ve heard of companies that provide loans that you repay over time with a percentage of any credit card payments you take from customers/clients.
Anyone know about or used any of these firms? Are they reputable? And do they do loans as high as $150-200K. Any info anyone has would be a great help.