Merchant Resources International Provides Unsecured Business Loans

Nov. 12, 2008 - PRLog -- Getting an unsecured business loan has almost become a thing of the past.  But fortunately, all hope is not lost for owners of retail and service-oriented businesses.  Merchant Resources International purchases a business’s future credit card receivables to provide small business owners with business financing now.  

After completing a short application and being approved, small business owners can get business financing in as little as ten business days with no collateral.

Merchant Resources does not just require no collateral, we also require no personal financial statements and an applicant does not have to have an excellent credit score in order to be approved.  

Rather than considering certain factors such as; amounts of collateral, credit ratings and business plans, MRI considers a business’s credit card sales history.  The amount that a business processes in credit card sales each month helps funding specialists determine how much money that business can be advanced.  

The funding specialist will also determine the holdback percentage (the percentage of each credit card sale that will go toward repayment), and based on the business’s monthly credit card sales, can give you an approximation of the amount of time that it will take for repayment to be completed.  

MRI can typically fund a small business owner about 30 percent more than the business’s average monthly credit card sales, and 17 to 25 percent of the business’s future daily credit card sales will be deducted and put toward the repayment.  It usually takes about seven months to complete repayment, and borrowers may renew their advances when slightly more than half of their repayments are complete (in about three to four months).  These numbers however, are relatively flexible and can be adjusted to the business owners liking.  

Small business owners who are interested in receiving an unsecured business loan may visit MRI’s website at http://www.unsecured-business-loan.com or by contacting the Merchant Resources International offices at (800) 277-1750.

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Merchant Resources International provides merchant cash advances for small business owners. Small business owners can have easily accessible funds for their businesses with the business loan alternative.