Article Hunt

Credit Card Advance Myths Dispelled

An increasing amount of business owners are using credit card advances to finance small business ventures, or for relief during difficult times. But there is still reason to believe that many small business owners are missing out on benefits that a credit card advance can provide, due to a certain amount of skepticism that they may have regarding the particular source of business financing.

This doubt may come from a lack of knowledge about credit card advances, misinformation about credit card advances, or may simply be a product of the fear that comes from trying something new for the first time.

Some may advise against receiving credit card advances because they say it is expensive money. But the truth of the matter is credit card advances are much easier to qualify for than traditional bank loans. And for some, fast money is essential to the wellbeing of their businesses, and having to pay a little more for that money is worth it, as they’d rather see their business prosper than go under.

The fact is credit card advances can be received for a flat, unchanging fee. So, unlike banks, there are no interest rates, regardless of how quickly or slowly your credit card advance is repaid.

Some shy away from credit card advances because they are not the traditional method of financing. But sometimes the non-traditional way is the best way to go, especially when it can mean the difference between business growth and prosperity, and business failure.

The Facts

–Applicants do not need excellent credit to receive a credit card advance

–Borrowers can receive a credit card advance without collateral

–A business owner can receive a credit card advance if his/her business has processed at least $2,500 per month for the past four months

–Credit card advance payments are made via a small percentage deduction of a business’ daily credit card sales

–Credit card advances can be renewed after 60 percent of an advance has been repaid

Before completely dismissing a credit card advance as an option for your business, make sure you are aware of all of the facts, and can make an educated decision of whether or not credit card advance can benefit your business. Overlooking credit card advances could cause you to miss out on endless opportunities for your business, and we all know, as a small business owner, providing the best for your business is priority.