NEW YORK, Oct. 31, 2016 (GLOBE NEWSWIRE) -- 800fund.com, one of the nation’s most active alternative lenders to small- and medium-sized businesses, today announced its new Merchant Rebate Program. The Program allows qualified merchants a discounted pre-payment schedule of up to 90%.
“Small businesses in need of capital to grow are underfunded,” said 800fund.com president Felix Gershkovitch. “Our Merchant Rebate Program will make cash advances much more affordable, representing a sustainable business funding solution.
“As a privately owned business funding company, 800fund is able to make swift decisions and provide same- or next-day financing for businesses in the retail industry, construction company financing, working capital for auto repair shops, funding for logistics businesses, financing for restaurants and bars, inventory financing, financing for wholesalers, equipment financing, for just about any legitimate use of working capital,” Gershkovitch added.
The company racked up banner performance in the 2Q of 2016, making a record number of business financings in excess of $200,000. A substantial number of these fundings came through the Merchant Rebate Program. The company began deploying nearly $250,000 per location in funding to businesses in the construction, cellular phone and automotive industries.
To meet the growing demand for its products and services, 800fund also announced its plans to hire 225 new funding specialists in 2017, to work out of its New York City headquarters and nationwide. The company will also be unveiling a new online lending portal to generate instant funding options for small businesses.
800fund offers a broad financing menu:
- Loans for start-ups open for less than four months
- Merchant cash advances between 50-150% of monthly credit card volume
- Debt consolidation
- Bridge loan financing
- Merchant services
A Merchant Cash Advance is a short-term advance of funds, against a business’s future receivables. Repayment is a fixed debit or percentage of receipts, taken directly from each sale. The Merchant Cash Advance industry is experiencing explosive growth, as traditional bank lenders are increasingly unwilling to finance small businesses.
About the Company:
800fund is a leading merchant cash advance and short-term alternative lender to small- and medium-sized businesses. It is headquartered at 30 Broad Street, New York, NY, and has a number of affiliate offices throughout the US and abroad.
30 Broad Street, 28th FL.
New York, NY 10004
T: (212) 865-3863 │ F: (800) 908-8550
Products and Services Offered: Merchant Cash Advances, Working Capital, Alternative Financing, Business Loan Alternatives, Short-Term Financing, Invoice Factoring, Purchase Order Financing.