NEW YORK, Nov. 2, 2012 /PRNewswire/ -- The MerchantCashAdvanceIndustry.org network, a lending portal for small and mid-sized businesses has initiated a recovery campaign with its partners in the wake of Hurricane Sandy. The call to action was driven by witnessing the aftermath firsthand near their office in New York City.
A spokesperson for the network was quoted as saying, "We fear that access to traditional forms of financing will be full of red tape, considering that banks today are already highly risk averse. The additional uncertainty brought on by the disaster, whether businesses were directly affected by it or not could very well lead to fewer loans and lines of credit. We feel it more necessary than ever to spread the message that alternatives like merchant cash advances, cash flow loans, and other forms of merchant financing are accessible."
A merchant cash advance allows businesses to tap into their projected future revenues today by literally selling a fixed portion of those future sales to a factoring company.
Cash flow loans allow businesses to leverage their historical revenues and positive cash flow to get approved for a short-term business loan. Accepting credit cards as a form of payment is not necessary for consideration.
Approval and funding is typically completed in less than a week. Applicants operating an existing business in a Hurricane affected area can request an even further expedited application process by checking the designated box on the website's inquiry forms.
MerchantCashAdvanceIndustry.org makes no guarantee of loan approval, is not offering grants, and is not involved in any type of governmental assistance program. We are not a lender. Our partners are responsible for all financing terms and decisions. You can follow the industry on Facebook at http://www.facebook.com/MerchantCashAdvanceIndustry, watch our videos on YouTube, and apply at http://merchantcashadvanceindustry.org.