Merchant Loans & Stimulus Package Can Equal Big Money
With the possibly approaching stimulus package and the current availability of merchant loans, attaining this additional cash is not such a far-fetched idea.
In a recent conference, President-elect Obama "pushed for a large, two-year economic stimulus package," stated an article.
"In particular, Obama said that he believes that Congress should pass, and the current president should sign, some sort of broad government spending package as an attempt at economic stimulus," stated the article.
What this package will consist of is unknown at the time, but what is known is that small business owners can get up to $500,000 in funds for their small businesses.
Whether you want $500,000 to finance a multi-faceted project or $5,000 to purchase some extra inventory, a merchant loan can provide small business owners with additional funds with no collateral.
As a small business owner, you can use your business's future credit card sales to get these funds.
Meaning, your merchant loan will be automatically repaid as a small percentage deducted from your business's daily credit card sales.
These funds can be used for anything and most merchant loan lenders will allow borrowers to renew their merchant loans after a certain period of time.
Usually merchants are encouraged to renew when 60 percent of their current account has been repaid (this is typically three to four months after the initial funding).
To take advantage of this opportunity, contact a merchant loan lender and find out exactly how much money you can receive for your small business.
Let 2009 be a year of new beginnings.
As we ring in the New Year and gain a new president, why not get a merchant loan and do something new for your business.