The merchant account cash advance world does like the retail establishments. I know that’s a bad word, especially if you look at the stock market over the last couple of months. But that’s what we’re comfortable with. We’re looking for that retailer. We understand that they have issues right now.
We’re also looking to back the guy that’s willing to advertise in this day and age, because we know that with their competition faltering, the guy that is advertising is going to drive the additional business to the doors. There may be less of it, but that’s the guy that we want to be behind.
We are looking for the under-capitalized businesses and we are looking to be able to infuse them with cash to let them get to the next level. They may have insufficient collateral. It’s not an issue for me. I’m not looking for any collateral.
I’m looking for an entrepreneur that I can put my money behind and that I can help grow his business. Because more likely than not, if I give an entrepreneur money, if I give somebody $100,000, he’s going to make more than $35,000 with it. He’s probably looking to double it. That’s the kind of business owner a merchant account cash advance professional may be looking for.
A weak financial statement and/or tax return, I’m not surprised. I own a business and I understand what comes first. What comes first is getting the business done.
The cleanup after the fact generally holds very little interest to most of the entrepreneurs I’ve met, especially the successful one. The more successful, the less likely they are to be focused on the small details. They’re probably going to be paying somebody to do so.
About The Author: Scott Letourneau is the CEO of Fast Business Credit, Inc. When it comes to securing cash and vendor lines of credit and avoiding costly mistakes his company is the authority. For further assistance regarding the development of business credit go to http://www.FastBusinessCredit.com or call FBC at 1-888-313-6333 or 702-977-5246.