I found a very interesting way for business to get financing to help them make it through leaner economic times. I previously thought the only way for businesses to get funding other than dipping into personal savings was to get a loan from a bank or get money from a venture capital fund. I didn’t know it was possible to get a business cash advance. It looks like an interesting way to get funding for a growing business.
Merit Capital Advance is one loan company that offers businesses the opportunity to take out a business cash advance. How it works is that businesses convert their account receivables into cash right now. They can even convert their future credit card revenues into cash now. This can do wonders to cover up short term cas flow problems. It looks these business cash advances could be a lifeline for small businesses.