How to Get Fast Business Loan
How to get fast working capital for your business
Many companies already have bank credit lines, pledged their personal and business assets, and even used their own homes as collateral to obtain business funding or loans. Now, Retail business owners can leverage one more asset to increase working capital: your future credit card sales. This is a relatively new concept. It was introduced about eight years ago to provide funding for restaurants. Although there have been many success stories, the product has often been viewed unfavorably because of the high cost and short payback period.
CRSMONEY has taken this concept, leveraging future credit card sales on step further. now we are able to provide funding at substantially lower costs for well qualified credit worthy clients, as well as clients whose credit’s not so good. The better the credit the less risk for CRSMONEY therefore the better the cost of the money.
Our focus
At CRSMONEY, we're focused on providing urgently needed working capital to small and medium sized businesses nationwide. We chose this market because we found that traditional sources of working capital were not serving the market well. Generally, traditional financial institution lenders were too cautious, too slow, and unable to understand the unique needs of small business owners who wanted to grow their businesses quickly.
CRSMONEY is NOT a lender. We are a broker for many funding companies that buy the future sales of your business, commonly referred to in our industry as "future receivables."
The particular type of future receivables that CRSMONEY buys is Visa and MasterCard sales. Let's look at an example: If CRSMONEY buys future Visa and MasterCard sales from John’s Auto Supply, after the funding date, CRSMONEY will gradually deduct scheduled payments from John’s Visa and MasterCard sales. There are no monthly billing statements, no invoices, and no payment coupons for John’s to review, and no checks for John to write — the payment happens automatically.
All programs are customized to meet individual client needs. We typically fund up to one month of your average credit card sales. This means that if your company has annual sales of $1 million through Visa and MasterCard, Credit Cash can advance up to $100,000, We can also review your American Express, Discover and total gross to increase the size of any advance
How Do You Pay It Back?Once the, total amount to be purchased, and estimated payment period have been determined, CRSMONEY calculates a daily repayment percentage required for the funder to receive the Visa and MasterCard receivables sold. After your business is funded, automatic, small deductions are made from your daily Visa and MasterCard sales. The average percentage is between 10-20% daily deduct to payback the funding
How much does it Cost?We have rates ranging from .15 cents to .35 cents on the dollar. Our terms range from 6 months to 12 months. Example: $10,000 funding on a 6 month plan would cost $11,500. Most importantly, our rates are competitive with other forms of financing. Because our rates are low, and the payback period can be extended, we solve your cashflow needs without creating new problems.
How do can you get started.
You can call 877-565-0275 or go to www.crsmoney.com for more info
We can help you get the capital that you are looking for. We have many options and can find one thats right for your company.
About the Author:CEO Wayne Bybee
Wayne has over eight years of experience working in financial institutions. Prior to starting CRSMONEY, Wayne worked for the credit card processing department of Card Service Int, First Data credit card processing and TeleCheck. He studied at University of North Texas
Article Source: ArticlesBase.com - How to Get Fast Business Loan