Feb/101
SBA Loan Funds Run Out
The Small Business Administration has announced that funding for two popular lending programs is running low. Last year, a stimulus bill was passed that provided $375 million in SBA funding. “By mid-December, another $125 million was appropriated to continue the program through February 2010,” wrote Emily Maltby for the Wall Street Journal. “But those funds won’t last until the end of the month. In fact, it is unlikely that they will last until Monday [February 22], according to the agency.”
Now, small business owners who were unable to get their hands on a portion of those allocated funds may have to other business funding methods, such as the business cash advance to get the cash they need to grow and expand their businesses, purchase inventory, renovate or to increase working capital.
Jan/101
Bank Lending Still Decreasing
According to a report released by CNN Money, bank lending is still declining. In fact, according to the report, the nation’s biggest banks cut their collective small business lending balance by another $1 billion in November.
Based on this information, it can be concluded that a widespread need for alternative business funding methods such as the business cash advance, still exists.
Small business owners can take advantage of the opportunity to get up to $500,000 in unsecured business funds, through one of MRI’s business cash advance programs.
- Standard Program
- Starter Program
- Premium Program
- Restaurant Loan Program
Merchants who choose one of these programs will receive unsecured funds, flexible repayments, automatic renewal eligibility and the freedom to use their funds however they wish.
Aug/091
A Perfect Fit
At Merchant Resources International, we do not have a “one size fits all” mentality. People come in all shapes and size and that diversity is what makes the world interesting and beautiful. Likewise, our country is home to many small businesses varying is size, type, income, etc. providing variety and options to consumers.
When shopping for clothes or shoes, shoppers find items that are in their sizes and then, try them on to make sure they fit perfectly. Why should searching for a business cash advance be any different? It shouldn’t be. That is why MRI offers multiple merchant cash advance programs, allowing you to choose the one that’s right for you.
Standard Program
Our standard program is the most commonly used. We can advance small business owners up to $500,000 for their businesses, which can be used without restrictions.
Requirements:
- Business processes a minimum of $3,500 in monthly credit card sales
- Applicant has owned business for at least six months
- Owner has no unresolved bankruptcies
- At least one year remains on business lease
Merchants who would like to take advantage of our standard merchant cash advance program must complete a short application, which will be reviewed in 48 hours. If approved, we can wire funds into an account in as little as seven business days.
Borrowers can also renew their funds every three to four months.
Starter Program
The starter program is the perfect option for merchants who’ve applied for advances in the past, and were declined.
A merchant is advanced a small amount (up to $7,000). By paying back this small amount (through a small percentage of daily credit card sales) the merchant is able to build up his/her credit with MRI. Once the starter advance is paid off, we can advance the merchant an even larger sum the second time around, and so on. There are no credit checks required.
Premium Program
Our premium program is reserved for merchants with higher credit scores and higher monthly credit card sales.
Requirements:
- Merchant’s credit score is 650 or higher
- Merchant qualifies for $50,000 merchant cash advance or more
- Applicant has owned business for at least six months
- Owner has no unresolved bankruptcies
- At least one year remains on business lease
Small business owners who qualify for our premium program will receive the lowest rates in the industry and loan terms of up to 12 months.
Restaurant Program
Our restaurant merchant cash advance program is designed especially for restaurant owners. Qualified merchants can receive a merchant cash advance without even building up a track record. This means, eligible merchants can have the funds in their accounts within the first week of their restaurants’ openings.
Find out which program is best for you and apply online today!
Jul/090
Business Cash Advance for Family-Owned Businesses
Family and business are two things that are very important to Merchant Resources International.
“Family-owned businesses comprise nearly 90 percent of all business enterprises in North America,” (epromos.com). Most of these family-owned businesses are small businesses, a sector in the economy that MRI looks to support on a daily basis, by providing a useful alternative to hard-to-get small business loans.
Owners of family businesses are encouraged to take advantage of one of our various business cash advance products and receive up to $500,000 in business funds.
We continue to offer:
- 48-hour approval
- 7-10 business day funding
- Flexible payback
- Automatic renewal eligibility
Gather up the family and apply for one of our business cash advances today!