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Working Capital for Small Businesses a big need in todayÂ’s economy

(Entertainment-NewsWire.com, November 15, 2012 )

Deerfield Beach, FL -- Small businesses today need working capital to help fund payroll, accounts payable, debts or other essentials to keep their businesses moving in the right direction.



The Small business Administration (SBA) works with businesses in times of hardship by giving small business owners the opportunity to get a low interest rate on capital that have agreements with local and national banks of maximums up to thirty years at 4% and 3% if you’re a non-profit organization.



The SBA does not directly lend money out but will work with lending institutions to get small business funding for small business owners the best rates possible by working with a sponsoring bank or credit union.



Merchants are looking for better ways to cut through the red tape when trying to get working capital through an organization like the SBA that works with a sponsoring bank or credit union. When working with a sponsoring bank there are factors that a small business owner will need to get the process going such as personal background statement, financial statement, business financial statement, profit and loss statement, projected financial numbers, ownership and affiliations, business license, loan history, three years of tax returns, and a business lease. As you can see there is a lot of information for a small business owner to provide to just get a small loan. The difficulty arising of the financial crisis of 2008 has brought on so many regulations that it’s very hard for the small business owner to get working capital quickly.



Merchant processors have the ability to work with small business and get them working capital usually in about 10 days or less.



Charge Card Funding just recently re-launched their website at

www.chargecardfunding.com to help businesses find a way to get a working capital through a business cash advance. The unique advantage of this solution is the small business owner can use their own money to fund and receive the capital they need by using future credit card transactions.



Here is how it works, Charge Card Funding will analyze the merchants last three merchant and bank statements and put together a package that can get the merchant business owner working capital of 120% of the merchants last three months of credit card transactions.



The process in how the business cash advance is paid back is through a “split dollar” where when the merchant batches out the daily sales the merchant business owner and processor work out an agreed percentage in how the working capital is paid back.



Typically, the amount of months for the working capital to be paid back is six to twenty-four months.



Charge Card Funding has helped many businesses with this type of program because it allows the small business owner to grow and feel secure not having to worry about a large lump sum payment monthly.



The business owner needs ways to grow outside of lending institutions that gives them a secure feeling knowing they have a partner to help grow their business and it’s the merchant processor they use every day and not the bank down the corner.





The Charge Card Funding Partners provided a smart way for small to mid-size companies to obtain working capital funding to meet the challenges of running your company. A Business Cash Advance is the purchase of future credit card receivables; it is not a loan. This form of financing provides business owners and entrepreneurs with numerous benefits that are not available from traditional lenders like banks and conventional loans.



Media Contact: Vince Virzi 1-888-760-3863

Charge Card Funding

Vince Virzi

224-650-7500

vvirzi@chargecardfunding.com

Source: EmailWire.Com

Source: EmailWire.com

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