Forums: Discussions for entrepreneurs and small business.

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.

hi paul,
    I have no try myself but I hear that they do real good business. I got the web address for one of them and you could get all the information that you from they website at www.business-cash-advance.com.
I hope this could help you.


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Global Travel International        Victor Lugo Independent Travel Agent       PIN # 7094581 victors.globaltravel.com victorstravel@hotmail.com       347-529-7076

With historical profits and projections that show you will continue to be profitable, the SBA Express Loan program may be a good fit for you.  For amounts up to $150 thousand, the bank does not have to require dollar for dollar collateral in support of the loan.  

Also, if you`re providing open credit terms to your commercial customers, factoring of your accounts receivable may be an option for you as well.  While a bit more expensive than the SBA loan option, factoring could offer more flexible terms.

I too am interetsed in these factoring companies - any feedback?

Feel free to give me a call at your convenience to discuss your factoring options.  There`s no charge and no obligations!

A few of my customers have tried and highly recommend www.absolutemerchantsolutions.com for cash  advances for credit card sales. Please keep us posted on who you choose and what the outcome is.

I was just made aware of a funding source that will buy a future stream of credit card receivables at advance rates of up to 82%.  The seller (that`s you) would have to install their credit card processing machine that would direct 25% of those future credit card receipts toward repayment of the purchase until such time as the buyer has been made whole.

Maybe I can be of assistance...I work for Top Capital Funding and we help businesses like yours obtain working capital.  We base our loans on monthly merchant account processing volume.  Depending on how your application looks, we`ll loan up to $300k without collateral.  If you`re interested, please reply to this message and I`ll send you an application.  Also, you can check out our website at www.topcapitalfunding.com

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We`ll fund your business up to 300k without collateral or a personal guarantee! Your business will receive 100% of the funding within 7 business days without any closing costs. Funding is based on monthly credit card volume.

I have looked into several of these companies, but I found their rates to be over the top.  To borrow 100K over 9 months, one company told me I would have to pay back 130K!  30K over 9 months is too high for us to pay.

So we are investigating other sources of funds, specifically an unsecured line of credit, so if anyone knows a good source for those, I would love a referral. So far all I can find are brokers that want to charge me a 15K brokers fee for getting me a 100K loan.

Best of luck!

Advaweb

I can help you if you are processing credit cards as part of your business plan.

Drop me a line and tell me more about your business, type of monies you need and let`s see what we can do for you.

 

Brian

brnbrn1@gmail.com