Solving the Credit Crisis – GETFASTCAPITAL Announces its “Small Business Loan Alternative Program”
August 13, 2010 | Business Loans, Factoring, General, Merchant Cash Advance
GetFastCapital (GFC) launches a new program meant to aid those small business owners directly affected by the lack of credit and financing available from banks in the last quarter of 2010.
Retail businesses will now have access to loan alternatives through GFC’s cash advance program, which can provide upto $500,000 unsecured capital to businesses in need. The program works by GFC advancing a lump sum of money to a business and then receiving repayment via a set percentage of the business’s credit card sales until the obligation has been paid.
Such a program can provide much needed cash flow to a business while cutting through the complications and some of the risks of working with a bank. What makes this program stand out of the crowd is that there are no requirements for any kind of collateral, businesses with poor credit are accepted into the program with no questions asked and most importantly, there is no time limit for the repayment and no late fees or charges.
Banks across the country, and also around the world, are now slowing lending to a crawl in response to the recession and massive economic uncertainty. This credit crunch has left small business owners desperate for funding for business expansion or just for financial survival.
However, hope does still exist for small businesses looking for a business loan or business loan alternatives such as account receivables factoring, bridge loans, invoice factoring and credit card factoring. Founded in 2008, GetFastCapital works with businesses across the country and has been noted for its professionalism and friendly customer service department, but most importantly, its quick turn-around-time.
Businesses are approved for funding usually within 24 hours of them submitting the required paperwork, and funds are released in as little as 5 days. Any small business owner that has worked with any business lending company or merchant cash advance company need only mention his involvement with the latter to one of GFC’s funding experts to start the process towards obtaining a cash advance with an excellent rate, as it is GFC’s commitment to match or lower any approval numbers from its competitors.
Edward Hinson, the VP of Sales at GFC, says that GetFastCapital is committed to providing financing to deserving businesses in a both timely and cost effective manner, and with this new program, aims to help business owners affected by the lack of credit facilities from the financial industry. He is also quoted as saying to business owners that “getting up to $500,000 unsecured capital for your business has never been easier,” and urges business owners to take advantage of this program now to grow and enhance their business so as to be ready for the end-of-year holiday sales season.
In today’s economy, financing of any kind is hard to come by and not everyone has a credit score strong enough to attract a bank. GetFastCapital’s small contribution to solving the credit crisis in the United States is making a commitment to provide some form of financing to any business accepting credit cards from its customers, regardless of the business owner’s credit score.
GetFastCapital.com provides alternatives to business loans to businesses across the US. Business cash advances up to $500,000 are available for businesses accepting credit cards from their customers.
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Some companies offer first-time deals for these types of loan programs that completely remove the interest payment is the loan is paid in full by the due date. You can check such an offer from the lender’s website including their pay back policies and rates. This information must be finely printed to comply with the strict regulation of the payday loan industry. Checking lender’s website is recommended before you signup for the loan to avoid getting ripped off due to undisclosed interest rate and fees.
most majory banks in the country who had the proper equipment both is software and hardware terms. So the story of online payday loans began. These loans are in high demand as most people can no longer apply for other more popular and traditional form of credit. As most individuals in the country who were under high debts are now bankrupt. Others are in high debt with ruined credit ratings thus for a vast number of people payday loans online and similar loans are the only form of credit.