Many small businesses fail not because they lack a great product, a sound business model or sharp, hard-working employees, but rather, because of difficulty finding working capital financing and poor cash flow management.

One often-cited study has attributed 82 percent of business failures to this problem.

At Personal Lending Group, a leading online lending facilitator, we can help make sure that fate won’t befall your business. We can connect you with unique and superior loan options you won’t find anywhere else, helping you to bridge that sometimes confounding gap between payables and receivables.

Personal Lending Group is proud to partner with online lender ForwardLine for merchant loan services. Here are five ways that these loans and cash advances are better than those available through banks:

1. More flexibility in payments. Unlike a traditional bank loan, this financing is based on monthly credit card sales volume. Repayment is made by applying a percentage of your Visa/Mastercard transactions to the balance. Alternatively, you can repay your loan with fixed daily payments that are automatically deducted from your business bank account.
2. More transparency in your cost. Rather charging an interest rate, these loans carry a fixed fee that is determined by how long the applicant has operated the business and the length of the loan – six, nine or 12 months. It’s the same fee whether the business borrows $5,000 or $150,000. Unlike many banks who charge penalties for repaying a loan ahead of schedule, we offer a discount for early repayment. And there are no upfront or hidden fees.
3. Repayment is convenient cash flow friendly. There are no dates to remember or checks to write. Repayment can automatically be deducted from a merchant or bank account in accordance with daily sales volume, making repayment cash flow friendly.
4. Lending decisions are based on the business, not the owner’s personal finances. We understand that many small business owners have poured their own money and personal credit into their business, which makes it nearly impossible to qualify for a bank loan. Banks place great importance on the owner’s personal credit score and require a lot of collateral, regardless of the longevity and viability of the business. We, on the other hand, lend based on the strength of your business, not your bank account.
5. We want to say yes. In order to qualify, a business need only meet a few simple criteria: At least one full year of operation, and at least $3,000 in credit card sales per month or at least $150,000 in sales annually.

We’re proud of our A+ rating with the BBB and many of our customers are repeat clients. So now that you’ve heard about this great opportunity for your business, don’t delay. Contact Personal Lending Group today and let us help elevate your business to the next level of success.

Categories: Credit