What is iMerchant Advance? Ted Stearns

10.03.08

What is iMerchant Advance?  Ted Stearns

 

Posted in Uncategorized tagged merchant advance, merchant cash advance,small business advance, credit card cash advance, merchant loans, merchant services, merchant funding, merchant fast cash, merchant advance program,merchant credit funding at 4:12 am by imerchantadvance

What is iMerchant Advance? We are many things, but in light of today’s ever-challenging economy, we are the answer many small business owners are seeking. Ted Stearns

 

Getting a small business loan today through conventional means is nearly impossible. Lenders and banks are closing their doors and while struggling entrepreneurs still have customers’ needs and demands to meet, they are being told “no” to the funds they require. Ted Stearns

 

While merchant advances are not a new concept, they have never been more necessary than they are now. Simply put, merchant advances allow small business to receive funds against future earnings through their credit card transactions. As long as your business accepts credit card payments and a history of such can be proven, you will be eligible for a merchant advance.  Ted Stearns

 

While a traditional loan includes an agreed upon interest rate and structured payments, merchant advances are payed back gradually as your credit card payments are processed. For instance, say you need $10,000 for any business-related reason,  iMerchant Advance will provide you in a matter of days with the necessary funds, with the agreement that over an unspecified time frame, 18%  (amount varies according to specific agreement) of your daily credit cards transactions will automatically go towards paying down your advance. Ted Stearns

 

And instead of interest being charged in exchange for the funds, an agreed upon fee is added to you total. So while you received and advance of $10,000,  the amount to be repaid may be $12,500 (amount will vary depending upon advance amount); the $2500 being your advance fee. So whether it takes you 4-months to pay it off or 4-years, the $12,500 never changes. This amount will never increase due to interest - it is set. Each time your credit card transactions are processed, the 18%  is automatically deducted and your balance decreases.  So on the months that you do well, the advance is paid off more quickly and for the months that are slow for your business, a lesser dollar amount is deducted to the advance. there is no fixed payment amount, there is no a fixed payment date, there is no fixed pay time frame. Ted Stearns

 

Even better, unlike conventional loans, the advance is not reflected on the owner’s credit; the merchant advance company takes the risk of repayment. We are paid back based on your success as a company. Essentially we are banking on your success.

It is that simple.  Ted Stearns

 

Permalink Comments

 

 

Big Problems, Big Opportunities Ted Stearns

Big Problems, Big Opportunities Ted Stearns

 

Posted in Uncategorized tagged merchant advance, merchant cash advance,small business advance at 3:44 am by imerchantadvance

It’s hard to escape the woes of our economy. Even if you tried to, as a business owner you’re daily faced with financial instability all around and yet, the need to remain a presence in your industry. Ted Stearns

 

We have been here before. Back in the early 1990’s we were faced with a financial crisis that closed more than 800 federally insured institutions in three years. Ouch! Things are bad, but not that bad. In reading an article today regarding the likelihood of more bank failures over the next year, it made constant reference to the crisis back in the 1990’s. And while many fear we’re heading in the same direction, many are optimistic we will land on our feet much faster this time around. Needless to say it was a good lesson in economics - never very interesting while I was forced to listen to lectures on the subject in school, but now much more so, as my money is tied up in it. Ted Stearns

 

I read on and discovered an article written in April of 1990, Small Businesses Will Prosper in the 1990’s Despite Woes, discussing the coming likelihood of bank failures. While major banks and institutions did and will again see failure, it’s the small businesses that will often survive. It’s the innovation of the entrepreneur, the sweat of his/her efforts and desperation’s birth of invention that keeps America strong. Ted Stearns

 

Often it’s during the crunch that big businesses must humble themselves and make concessions to smaller businesses in an effort to stay afloat; ultimately making us more successful. Ted Stearns

 

Now is such a time. Take advantage of offers that are available to help you succeed in your industry through expansion, funding through merchant advances, consolidation, technological shortcuts. Ted Stearns

 

While many are feeling the pressure to fold, this may  be the time to strengthen your business.

For information regarding merchant cash advances contact us @www.imerchantadvance.com Ted Stearns

Commercial Papers Crisis Ted Stearns

Commercial Papers Crisis Ted Stearns

 

Posted in Uncategorized tagged merchant advance, merchant cash advance,merchant loans, merchant services, merchant funding, merchant fast cash,merchant advance program, merchant credit funding, Bloomberg, Lehman Brothers Holdings Inc., California, The Fed, credit crisis, iMerchant Advance, Great Depression, GE, Procter and Gamble, Microsoft, entrepreneur, commercial papersat 5:03 pm by imerchantadvance

As the credit crisis continues, states and even countries are being sucked into the black hole of eceonomic instability. This morning news came from a Bloombergreport of the growing problem of states being unable to sell their bonds to maintain public services such as schools and healthcare. Since the collapse of Lehman Brothers Holdings, Inc., who was one of the largest resellers/purchasers of such instruments, the $2.66 billion market for state and city bonds has halted. This leaves states like California in a bind where spending has outpaced revenue growth and has been walloped by the housing bust. So, on two fronts these states face problems (from a very simpleton view), 1) they can’t find buyers for their debt and 2) the debt that is in the market is turning illiquid because intermediates like Lehman are out of business. Ted Stearns

 

As attempts to sell off existing bonds has failed, The Fed stepped in using emergency powers to establish funds to purchase these holdings, allowing states to maintain and provide for necessary services.

As the crunch continues and the government is required to institute creative methods to keep afloat, small businesses are no different. With banks turning away business owners in search of funding, innovative and viable options are turning heads. Ted Stearns

 

Now, iMerchant Advance can help the business owner who accepts credit and debit cards by advancing them the immediate working capital they need to stay in business, but how about for the business that do not transact a majority of their revenue via credit cards sales? Ted Stearns

 

The Fed late yesterday, for the first time since the Great Depression said it will bypass banks and lend directly to the American corporations and hinted strongly at further interest-rate cuts- a shot in the arm for in terms of liquidity for small businesses. Ted Stearns

 

Although, at this time this will only help the triple A paper companies like GE, Procter & Gamble and Microsoft; I’ll explain more about this strategy as the week unfolds. The good news is that in times of trouble, the American businessman has always found innovation in struggling times. Ted Stearns

 

For me, it Is a question of “is this a problem, or is the actual problem they way that I am looking at this problem. I among many colleges at iMerchant have confidence in the American entrepreneur and look forward to seeing the brilliant innovation that comes out of these times.

For more information visit us @ www.imerchantadvance.com.

Permalink Comments

Today’s Entrepreneur Ted Stearns

10.10.08

Today’s Entrepreneur Ted Stearns

 

Posted in Uncategorized tagged merchant advance, merchant cash advance,merchant loans, merchant services, merchant funding, merchant fast cash,merchant advance program, merchant credit funding, entrepreneur,ClixConnect, Mitch Cohen at 4:11 pm by imerchantadvance

Each week I’ll be highlighting an entrepreneur who catches my attention and whose product/services may be useful for your business.   Depending on your age and background, the word “entrepreneur” can conjure  up any number of images in your mind. Today’s entrepreneur can’t be defined in a dictionary; he/she looks like your college-aged son, the housewife next door, your father and even your grandma. Opportunity and invention have to limit. Ted Stearns

 

Today’s entrepreneur provides what all our companies need - excellent customer service.

 

Mitch Cohen, 20 - Founder of ClixConnect Ted Stearns

 

After witnessing his parents frustation with online purchases, Cohen developedClixConnect, a service providing live chat customer service to shoppers in need; thus providing a more “human” touch in cyberspace. Online businesses can either purchase his software for installation on their site or the companies can opt to outsource their customer service to Cohen’s employees. In order to provide the best customer service possible, an indepth questionnaire is filled out by the companies and Cohen’s workers are properly trained. Better yet, he’s enjoyed a profit from the first month of business as he has no physical office and spends little on marketing.   Ted Stearns

 

Innovation.

Every company needs funding and in today’s market, banks are turning away small business owners. Unlike traditional funding, iMerchant Advance provides business advances against future earning without interest and determined payments. For more information on merchant cash funding, visit our website @www.imerchantadvance.com for affordable, no-interest business funding. Ted Stearns

 

Permalink Comments

Dow Heads North Ted Stearns

Dow Heads North Ted Stearns

 

Posted in Uncategorized tagged merchant advance, merchant cash advance,merchant loans, merchant services, merchant funding, merchant fast cash,merchant advance program, merchant credit funding, iMerchant Advance, Wall St., Dow Jones, Bank of England at 4:43 pm by imerchantadvance

After seven demoralizing sessions on Wall St., the Dow is heading north this morning. Many factors contribute to this morning’s increase, including the Gov. promise to quickly implement its pledge of $700B. It is also looking into buying shares of struggling banks and their spoiled mortgage-related assets. Boosting global moral, The Bank of England has also pledged $63B to helps the country’s three struggling banks strengthen their balance sheets. Ted Stearns

 

Hopefully, last week we hit the bottom we have all been hoping for. While the world’s governments are stepping in to stabilize global markets, the American people at the foundation of our economy are struggling with everyday banking needs. With financing at a virtual stand still, few option remain to keep the entrepreneur in business. Ted Stearns

 

iMerchant Advance is the small business’ answer to growing financing concerns with financing available against future earnings. Any business accepting credit or debit cards is eligible to receive funds through a merchant cash advance without traditional interest rates and to be paid back at a pace the fits your business’ production. Without the hassle of dealing with today’s volatile banking system, your funds can be received within days and used for any business related needs. Merchant funding has been available for years, but is now the most affordable, convenient and fastest way to receive financing. For more information, please contact us @ www.imerchantadvance.com Ted Stearns Ted Stearns Ted Stearns Ted Stearns

5 Reasons Why Merchant Advances Can Make More Sense Than Traditional Loans Ted Stearns

5 Reasons Why Merchant Advances Can Make More Sense Than Traditional Loans Ted Stearns

 

Posted in Uncategorized tagged Aegean Capital Partners, banks, business funding, iMerchant Advance, KECO AM 1000, lenders, merchant advance,merchant advance program, merchant cash advance, merchant credit funding,merchant fast cash, merchant funding, merchant loans, merchant services, SBA loans, traditional loans at 5:55 pm by imerchantadvance

 

iMerchant’s parent company Aegean Capital Partners has an SBA division in which it is the responsibility of the advisors to secure SBA loans for their clients. Since we are in a unique position to advise our clients on what method of financing is the best in their individual case, traditional loans or merchant advances, I am in an easy position to compare the two methods. Ted Stearns

 

 

1. FAST:

Even when banks are working under optimal conditions (AKA, not in the midst of a credit crisis/lending freeze) piles of paper work, credit checks, business plans and financial projections prolong the wait for needed funds. Right now it is taking 2-3 months to secure SBA or conventional bank financing. Ted Stearns

 

Compare that to merchant advances where it is taking clients around 7-days to receive their funds. The reason why: our underwriters do not have to mull thru business plans, financial projections and executive summaries. For merchant advances, clients don’t have to specify what they are using the funds for; it could be for payroll, expansion, equipment purchasing or building an addition to their shop. Ted Stearns

 

2. FEWER CREDIT RESTRICTIONS

Unlike traditional loans, a merchant advance does not show up on the business owner’s personal credit and requires no collateral, no liens and no personal guarantor. Ted Stearns

 

Right now a conventional loan must be collateralized at 100%, meaning, if a client would like a 100k loan, they would have to show 100k of liquid capital in their bank.

A merchant advance can be received without any collateral whatsoever; our clients who need a 100k advance do not need to show any liquid capital, even with a past bankruptcy (after one year) or with a

credit score as low as 500. Ted Stearns

 

3. NO PREDETERMINED PAYBACKS/ NO INTEREST

 

Perhaps what makes merchant cash advances so attractive is the absence of predetermined payments. Instead of making installments against the advance once or twice a month, 20% (it varies between 8-25%) of your credit card swipes are credited directly to your balance.

So when your business is up, your balance decreases at a faster pace. When business is slow, at a slower pace. Either way, it is always decreasing. Ted Stearns

 

4. NO INTEREST

 

Without the stress of a burdensome interest rate multiplying your existing balance, your merchant advance balance will never increase due to interest and there is no penalty for paying it off early.

5. MORE COST EFFECTIVE

 

Bank loans are notorious for having fees, there is a application fee, a underwriting fee, administration fee a SBA guarantee fee. Now again, sometimes conventional financing has its place in life but when we compare it to a merchant advance, there is a distinct difference. Merchant advances have no fees like a traditional loan. No set up fee, no admin fee, no application fee.

This is coming from a guy who has been in the capital and credit markets for 14-years. In this market environment, for that merchant that needs immediate working capital without all the hassle, a merchant advance is the quickest, easiest way to get it by the end of the week.

If you need trusted advice from a company who can look at your overall picture and assess which choice would be best for you, call us today 888-838-6006 or email support@iMerchantAdvance.com.

iMerchant Advance and our parent company is America’s small business advocate, we can be heard on the radio at KCEO AM 1000 7am-8am morning drive.