FOR IMMEDIATE RELEASE:
More than 300 businesses filing for bankruptcy today.
Tempe, Arizona | September 1, 2010 | Based on a shocking trend in the economy since last year, more than 300 small businesses will apply for bankruptcy today. In 2009 more than 300 business owners filed for bankruptcy protection on average each day, and the numbers are looking worse for 2010. So far this year, bankruptcies are up 12% from the same point last year. This could seriously lengthen the time it takes to pull out of the recession.
Tempe, Arizona | September 1, 2010 | Based on a shocking trend in the economy since last year, more than 300 small businesses will apply for bankruptcy today. In 2009 more than 300 business owners filed for bankruptcy protection on average each day, and the numbers are looking worse for 2010. So far this year, bankruptcies are up 12% from the same point last year. This could seriously lengthen the time it takes to pull out of the recession.
The volatile economy has changed how many American's shop and do business. Banks have tightened the reins on the credit they lend to small businesses, making it significantly harder to get a loan. Consumer spending has dropped and customers are more wary of how they spend their money. Businesses need to be able to adapt to the changing nature of their clientèle, many are using social media to reach their customers in new ways. However; without adequate funding, a new approach to doing business in this economy can be an insurmountable problem to a business owner.
Small businesses are a vital part of the economy. They make up more than 99 percent of all employer firms and provide more than half of America's jobs. 64 percent of all newly created jobs in the United States in the past 15 years came from small businesses. And, in recessions past, small business growth was what led the economy back into financial stability. With the continued decline in small business growth and the dramatic increase in commercial bankruptcies, it is vital that small businesses get the capital they need. Many merchants have found a great way to get working capital fast in the form of Merchant Cash Advances.
A Merchant Cash Advance offers business owners quick and easy access to working capital. It is not a loan or a form of credit. Merchant Cash Advance firms issue business owners cash in return for a small percentage of credit and debit card transactions until the advance is paid back. And advance is easier to obtain than a traditional loan, merchants aren't penalized for slow business as they are with a loan, and most advances are paid back in under a year. Fastpoint, a Merchant Cash Advance Firm, “is ready and able to help businesses now by advancing the cash they need,” says company president Grant Atkinson. “Businesses can't adapt to the changing economy without funding. Merchant Cash Advances are exactly what businesses need to be dynamic and help end this recession.”
Merchants can take advantage of a Fastpoint Financial Merchant Cash Advance immediately so they won't be stymied by bankruptcy. For more information about Fastpoint Financial please visit their website at http://www.fastpoint.com. Company President Grant Atkinson is available for interviews. Please call or send and email for an appointment.
Contact:
Grant Atkinson
grant@fastipoint.com
1720 McClintock Dr.
Tempe, AZ 99999
800-867-5309
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For more details on the information in this release, please see:
http://nbkrc.com/August2010_News.aspx
http://www.usatoday.com/money/smallbusiness/2009-06-30-small-businesses-bankruptcy_N.htm
http://www.sba.gov
