New Business Loan Product Announced by XBS

XBS President David Robb announces a new commercial loan product for businesses seeking up to $150,000 in working capital, minus the traditional and extensive application process and review required by banks.
By: Sharon Robb
May 28, 2010 - PRLog -- David Robb, President and CEO of XBS, unveiled a new traditional type commercial loan product for small businesses in need of working capital for a variety of purposes  - without the extensive application process and review required by banks.

"We've been looking for some time now for an alternative solution to merchant cash advances to fulfill a clear need for access to fairly priced capital in the business community. " says Robb.  

While cost cutting merchant services and electronic payment solutions remain a focus - XBS continues to move toward viable options for merchants to increase cash flow - including growth through capital.  

Robb says that XBS will make loans up to $150,000 and fund use is completely up to the business owner but typical uses include inventory and new equipment purchases, expansion, remodeling or repairs, new hires or just plain working capital.  

The initial application is a simple one page document and pre-approval is typical in just 1-2 days, with funds in the bank in as few as 10.  Terms are  6-12 months and rates are very competitive.  The primary approval factor is based not on credit worthiness but consistent cash flow, vastly different from standard bank lending practices.  The application's simplicity allows XBS to waive any application fees for the loan.

"There are countless businesses that cannot meet today's rigid bank lending requirements despite strong track records in managing expenses and paying bills,"  Robb notes.  He describes small growing main street businesses with walk-in customers and a fairly steady cash flow as an excellent candidate for the new loan.  

Performance based lending is far different than the traditional merchant cash advance offered by so many payment processors ( as well as XBS - see ) - where loan amounts and approval is based on future credit card processing sales and repayment terms are dictated by the merchants actual sales volume - rising and falling relatively.  Critics of the cash advance product point to the inflated interest rate it comes with and XBS recommends the product only as a last resort for businesses who must have capital and can't access any of the traditional sources.

Businesses interested in the product should contact XBS directly at 800-347-1090 for more information or visit

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About XBS ( -

XBS is headquartered in Charlotte, NC . The firm is a Priority Payments Area Developer, and specializes in merchant services as well as commercial loan and cash advance services. Consultants for XBS are electronic payments professionals with decades of experience in the credit card processing industry. XBS professionals emphasize complete PCI DSS compliant solutions for their clients, that lower overall payment processing costs and increase cash flow. The company provides initial professional consultations at no cost, no obligation.
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