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

 

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