No Collateral Required

Dangerous Funding

Small businesses aren't hiring. This is a significant problem, not just for the unemployed seeking work, but for the nation as a whole. The past two recessions this country went through ended because of small business hiring practices. Small businesses aren't hiring because they aren't thriving. Credit lending firms have imposed such tight restrictions that many business owners have had to pledge personal assets in order to procure capital to fund the basic operations of their businesses. In fact, according to recent survey data, nearly 41% of all small business loans were obtained because of collateral or personal pledges from privately held assets, such as property or stocks. There are better ways to fund a business than with bank loans upheld by personal assets, like a Merchant Cash Advance from Fastpoint Financial.

Assets Not Ideal

Using personal assets is not an ideal way for a business owner to obtain funding. If the loan can't be repaid in the manner the bank intends, that property may be forfeit. That means they might lose their home. And because of the recession, many forms of personal assets have lost their value. Real estate value has dropped nearly 30% since 2006, yet 22% of small business owners use real estate or a home mortgage as collateral to obtain business related loans. And the Dow Jones is down 29% since it's peak in October of 2006. These once-common forms of personal collateral have lost so much worth that they can't be used to obtain the full amount of what businesses need to adapt to this new economy. That is, if the merchants can even get approved for the loan in the first place. This is why so many small business owners are turning to Merchant Cash Advance firms like Fastpoint Financial to obtain working capital.

A Better Way

No business owner wants to use personal property or other assets to obtain a loan for their enterprise. With a Merchant Cash Advance from Fastpoint Financial a business owner can apply for an advance, get approved, and receive cash, all without having to make a personal pledge of property. A Merchant Cash Advance isn't a loan or a form of credit. It is a cash purchase of future credit and debit card sales. Because it isn't a loan, it isn't restricted by the same lending laws that banks are. It is simpler, faster, and easier to repay.

Better Than a Loan

A Fastpoint Financial Merchant Cash Advance is a better option for small business owners. With a small business loan a merchant has to pay an exact amount each month without regard to how the business is doing. With a Merchant Cash Advance a small percentage of credit and debit card transactions is automatically collected when the accounts are settled. There's no other form of repayment, and the percentage is small enough most merchants hardly notice the adjustment. Once the advance is paid off, which often happens in under a year, that's it. A Merchant Cash Advance is an ideal option for business owners in this economy. Especially merchants who don't want to pledge their personal property.

Contact Us Now

Fastpoint Financial can help merchants obtain the working capital they need to improve and run their business. If this recesion is to turn around, history shows it will because small businesses start hiring again. With adequate funding in the form of a Merhcant Cash Advance, and not having to pledge personal property, business owners can start succeeding in their industries again and they will need employees. Merchants should start the application process now so they can quickly begin strengthening their livelihoods.