Businesses are still struggling to get their footing after the economic crisis of the past few years. Just one tiny setback occurring at an inopportune time can put any business in peril. Once a business has past-due bills and a slipping credit rating, financial institutions will be even more hesitant to lend to it.
CashAdvanceViral is one alternative to traditional bank financing.
Merchants whose credit has been affected often have a long period of rebuilding ahead of them. If they qualify for traditional lending, the process may be long and involve many documents, terms, conditions, and fees. Just getting through this may be a struggle and when loan repayment is due, the frustration may continue.
As the largest source of direct funding in New York, CashAdvanceViral provides many merchants with less complex financing.
To apply for a cash advance, a merchant provides basic information in an online form. Cash advances usually range from $5,000 to $500,000, but different amounts are available based on applicant. By repaying the advance, the merchant improves its credit score.
Within a short time, the score should qualify the business for traditional financing.
CashAdvanceViral focuses on merchants that have credit issues and also offers contingency-based settlement services for corporate debt with no upfront fee.
With a merchant cash advance, a small business sells a portion of its future receivables within a factoring transaction. This gives it access to much-needed working capital. This market is valued at more than $1 billion and CashAdvanceViral is a market leader due to its comprehensive enterprise software.
From its database platform, the CAV program developed, linking private investors and cash advance companies. The organization has more than 19,000 current small and mid-sized business clients representing all 50 states.
These companies turn to organizations like CashAdvanceViral when they do not qualify for SBA loans or traditional bank financing.
