However, many of those dreams die before they have a chance to be fully realized. Most often, a lack of funding causes the problem. This problem is likely to become more widespread as banks become more skittish about loaning money. Banks don''t like risk, and until you''ve established a long, profitable track record, they''re going to be reluctant to loan to you. If your business is fairly new, a bank will look at your personal credit, so you''d better hope it''s stellar if you want to be approved. And even then, you''ll be going throug h a lengthy process for approval. Sometimes the process can drag out so long that the money barely comes through on time.
But what if your business is experiencing some success, and you merely need some funding to invest for expansion or carry you over to your next season? Isn''t there anyone willing to take a risk on you? The answer may lie in funding other than a traditional bank loan.
One such type of funding is a merchant account cash advance. For this type of funding, you need to have established some sales history through your business, but it doesn''t need to be as extensive as that required by a bank. A merchant cash advance is based upon credit card sales, and the funding comes through quickly, with a simple application process and without delving into your personal credit history.
This funding will not apply if you don''t accept credit cards at your business. But it may be time to consider doing so. No matter how large or small your company, accepting cre dit cards can be vital to business success. It''s simple and affordable to set up merchant credit card services, and utilizing them can ensure that you don''t lose any sales, as well as making your business more internet and phone-friendly.
Yes, even though careless misuse of credit helped cause our current economic woes, you may discover that utilizing credit card sales to your advantage helps you to continue building your personal American dream.
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