Merchant Cash Advance Blog

Employees at Quikstone Capital Solutions and Sterling Payment Technologies have had a busy spring supporting Tampa Bay area charitable causes.

In April, Sterling sponsored a team to participate in Paint Your Heart Out, Tampa. Paint Your Heart Out is a volunteer-driven non-profit program that helps improve Tampa neighborhoods for low-income, elderly residents. Sterling's team consisted of 16 employees that volunteered their time and painting skills to spruce up a neighborhood home and carport.

Many people whose credit took a dive during the recession, or others who haven't had time to build a solid financial history, have found it difficult to secure a loan. Now, however, their luck may have changed thanks to sites like Facebook and Twitter.

Merchant cash advances and factoring loans can fill a critical role

Forbes' Maureen Farrell took a skeptical view of merchant cash advance lending in her January 2008 article Look Who's Making Coin Off The Credit Crisis, citing the rise of Merchant Cash Advance (MCA) shops as the recession started. In that report she pointed to predatory lenders relieving entrepreneurs of precious capital at annualized rates as high as 70-90%.

Alternatives for Financing if your Small Business Can't get a Bank Loan - Consider a Merchant Cash Advance

Small businesses have been hurt during the Great Recession and are now being shut out of getting a bank loan. They have lost customers and now have reduced sales. They have had to lay off employees because there isn't enough for them to do or enough to pay them. They have lost valuable supply lines. Most of all, they have lost their creditworthiness or so it seems and can't get business credit or business loans. Banks aren't willing to do business with small businesses any more, or at least not to the extent they used to be.