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“Clients have been using a merchant cash advance to pay their taxes” said Bruce Marshall, VP at Company Capital. Marshall added “the idea came from one of our customers who said they wished they could pay their taxes in small daily amounts rather than a quarterly or annual lump sum. Our merchant cash advance product is ideal for paying taxes because repayment is made on a daily basis.”
The merchant cash advance industry is gaining widespread popularity among the small business sector as an alternative to traditional commercial lending. Unlike a bank loan, there are no requirements to provide business plans or financial statements thereby making the process simple and very quick. In addition, most lenders require security in the form an asset - and they don’t consider inventory an asset.
The most innovative feature of a merchant advance is the approval process. Financing is based on the sales history of the business rather than the personal credit history of the business owner. To qualify, the business owner simply needs to provide a record of past credit/debit card sales, has been in business for at least 12 months, and has at least 1 year left on the lease.
With high approval rates, a simple process, and quick turnaround, a merchant advance from Company Capital provides another alternative for the small business owner when seeking working capital to grow his or her business – or to pay taxes.
go to http://www.companycapitalinc.com
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Company Capital provides small business owners with an alternative to traditional bank financing. We provide working capital in exchange for a small share of future credit/debit card sales.
Repayment of the funds is made on a daily basis using a small percentage of sales. There are no fixed payments - they "ebb and flow" with the sales trends of your business giving you greater flexibility to manage cash flow, particularly during a slow season
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