Business Cash Advance on the Go with the New VendorFind App

March 8th, 2012

Having access to high quality, low cost service providers can help move any business forward. Our new app gives you a simple and cost-effective way to connect with the best business services for your needs.

The VendorFind app features all of InsideUp’s 20 business service provider categories, including VoIP, call center, payroll, human resources, business internet,  web development,  credit card processing, collection agencies,  business cash advance and many more.

Are you looking for cash advance services?  VendorFind will let you tap into InsideUp’s comprehensive knowledge base to learn about business cash advance services before you make your decision and choose a vendor.

You’ll also have access to tools such as informative videos, wikis, vendor ratings and “Quick Guide” overviews of each category including cash advance. Easily link to our Facebook, Twitter, YouTube and LinkedIn pages for additional information and special deals from select vendors.

Once you’ve found the service you need, simply submit a quick survey to be instantly matched with vendors that fit your criteria–and receive custom, competitive quotes from multiple providers. Have additional questions about business services? Simply click on our phone number displayed on the app to speak to a representative.

Finding qualified service providers has never been easier! Say you’re meeting your business partner to discuss your new business cash advance campaign. Simply access the business cash advance category on your mobile phone to start receiving quotes from pre-screened business cash advance agencies. You could realistically save up to 60% on business cash advance services for your next campaign. And that’s just one example; with VendorFind at your fingertips, you can be sure you never pay too much for the business services you need.

The VendorFind app is a real time-saver for businesses that don’t want to advertise for a service provider and then face the ordeal of researching each provider to find the one that best matches their needs and budget.

Download the free VendorFind app today and see how easy it is to connect with the business services that will help your company grow.

Business Cash Advance—Better than Traditional Small Business Finance Solutions?

January 23rd, 2012

Small businesses operate in a different manner than large businesses. Still, one fact remains the same for all types and sizes of business – they all require business finance solutions.

Small businesses, unlike larger ones, may not call for heavy capital, but they might require short term financing in order to maintain cash flow or purchase inventory and resources.

Although there are countless small business loan providers, the sad truth is, not every merchant is able to qualify for obtaining money from traditional sources such as finance companies and banks. This is where unsecured business loans come to the rescue. The following are the advantages of merchant cash advance over loans and business finance solutions from banks and corporate finance firms.

Easy Qualification Criteria

Obtaining a merchant cash advance does not require a long list of qualification criteria. This is only one reason why you might want to consider a cash advance over other loans.  All you need is a bank account for your business—and the ability to accept credit card purchases from customers. Your average revenue from credit card purchases over the previous six months will be a determining factor in the amount of cash you are approved for.

Factors such as credit history, previous bankruptcy and liens will not be a hurdle in approval.  Flexible qualification criteria also makes a merchant cash advance easier to obtain for businesses such as restaurants and jewelry shops, which may be considered too high risk for traditional lenders.

No-Risk Repayment

A merchant cash advance considerably lowers the risks involved in the repayment process. If you obtain a loan through banks and other business finance services, they will demand collateral and personal guarantees. There is simply no need to secure a merchant cash advance in this manner.

Instead of a fixed monthly payment, a cash advance provider will deduct a percentage of your monthly credit card sales. This makes the repayment much more flexible, especially for businesses with seasonal sales. Both the repayment amount and the repayment term are not fixed.

Quick Approval

When compared to other business finance solutions, merchant cash advance offers quick approval for instant financial assistance—taking the fear and stress out of obtaining the financing your business needs to grow.

Finding a good vendor is also simple; with help from a reliable online resource you can be matched with up to five top vendors, each of whom will provide you with a competitive corporate finance quote.

All you need to do is to describe your project by answering a few brief questions. Based on your needs, you will then be matched with the most reputable, pre-screened vendors. It’s an easy way to compare pricing and ensure that you’re working with the best vendor for your business.

Need Merchant Cash Advance Services?

September 27th, 2011

Choose a provider that follows these guidelines:

The North American Merchant Advance Association (NAMAA) provides a list of best practices for Credit Card Factoring agents. When choosing a merchant cash advance provider, look for one that follows these guidelines:

  • Gives clear disclosure of fees – NAMAA doesn’t condone closing charges as part of the application process of merchant advances, but recommends that any of these fees be clearly explained and disclosed. The total payment amount should be explained in full detail and determined prior to putting the final touches on the agreement.
  • Offers transparent disclosure of penalties – Merchant advances are not truly loans; they are considered a purchase of future credit card sales. The cash advance recipient can be held personally liable for any cash not returned if the merchant violates the agreement.
  • Takes into consideration your business cash flow – A typical agreement provides that the small business owner repay a determined amount of credit card receipts on a daily basis.
  • Marketing materials give full disclosure – All advertising materials should make it clear that the contract is one of factoring, not a loan.

Additional factors worth considering when selecting a merchant advance provider include:

  • Accessibility – You will need to communicate frequently during the application process and possibly throughout the repayment process.
  • Knowledge – The provider should be able to explain the application and repayment process thoroughly and answer any questions you may have.
  • Reputation – You should choose a merchant cash advance company with a solid and established history in providing financial services to businesses similar to yours (similar in size, revenue, amount of advance, etc.).
  • Honesty – A good provider should be able to evaluate the financial state of your business and make a recommendation as to which type of financing would be best for you.  No provider should try to steer you toward an advance amount that is too high, or toward an agreement with onerous repayment terms.

Tips for Choosing a Merchant Cash Advance Provider

September 27th, 2011

Some merchant cash advance providers are small, independent companies who specialize in cash advances, while others are larger vendors who offer cash advances in addition to merchant account services. Some banks have also begun offering business cash advances as one of their services.

Look for a provider that offers excellent customer service–one who is willing to take time to discuss your business needs, and work with you to establish a comfortable repayment plan.

Research the history of several merchant advance providers to find out how long they have been in the business, and what companies they have worked with. You will want a provider with a strong background and experience in helping businesses with their financial needs.

Feel free to ask for quotes from several providers. A reputable merchant cash advance provider will allow you to take the time you need to make your decision, and will not pressure you to sign an agreement before you’re ready.

Is a Merchant Cash Advance Right for Your Business?

September 27th, 2011

 

Here are a few key factors to help you decide…

Your business might benefit from a merchant cash advance if:

• You need short-term financing to help your business maintain cash flow or pay for equipment or other resources that will contribute to the growth of your business.

• Your business is seasonal in nature; a cash advance can help you get through the slower periods.

• You own a restaurant or other type of retail establishment that is considered high-risk by traditional lenders; a cash advance can be an easier way to obtain needed funds.

• Your credit history makes it difficult to obtain a traditional loan.

Ten advantages of obtaining a merchant cash advance for your business:

  1. No personal guarantee needed
  2. No collateral required
  3. No fixed repayment amount
  4. Flexible repayment terms
  5. High applicant approval rate
  6. Will not show on your credit report
  7. Good credit is not a requirement
  8. Simple application and approval process
  9. No credit check needed for quote
  10. Fees are tax deductible

Additional factors to keep in mind:

The process for obtaining a business cash advance is quicker and easier than applying for a traditional business loan. However, because such advances are a riskier investment for the provider, the fees can be as much as 40% of the total cash advance amount.

The main reason for obtaining a cash advance should be to help your business grow. If you find you are using cash advances just to stay in business, this could be a sign that your business is in trouble. Many providers will require proof of how you are using your cash advance.

Quick Guide to Business Cash Advance Services

August 30th, 2011

A merchant cash advance, or (small) business cash advance, is a one-time payment to a business in exchange for an agreed upon percentage of upcoming credit card and/or debit card sales.

Your business authorizes the cash advance company to receive a daily percentage of your daily credit card income, which then clears and settles the credit card payments. Upon completion of the obligation, usually within a year, the automatic deductions are stopped.

Merchant cash advance businesses are used most often by companies that may not qualify for a standard bank loan. The structure of a business cash advance has many advantages over the structure of the conventional business loan.

Your business can enjoy greater flexibility with which to manage your cash flow because the payments allowed by a merchant cash advance fluctuate directly with your businesses sales volume. Another advantage is the speed and simplicity of the application process associated with using merchant cash advances.