Approval Rating Soars For Rapid Capital Funding's Merchant Cash Advance

PRLog (Press Release) – Jun 22, 2009 – Rapid Capital Funding, a business loan alternative provider, is pleased to announce that its customer approval ratings rose in the first quarter of 2009, thanks to the company's innovative merchant cash advance programs for small- and medium-sized businesses. In addition, the company reports triple-digit growth since the start of the current recession in December 2007.
"The economy has been hard on small businesses," says Yanina Shoykhet, of Rapid Capital Funding. "With a merchant cash advance, we can get small business owners who accept Visa and MasterCard the cash they need quickly, and without the delays typically associated with Small Business Administration loans or bank loans." Shoykhet says that about 75% of small business owners who take one merchant cash advance return for a second advance once their first loan alternative is repaid.
For some business owners, a merchant cash advance is the only source of external funding they can find right now. "Even businesses with good credit are being turned down for bank loans because the banks are so averse to risk," says Shoykhet. "Rapid Capital Funding fills a niche that other lenders simply aren't willing to enter in this economy."
With a merchant cash advance, business owners agree to sell a small portion of their future credit card transactions in exchange for cash. As customers make credit card purchases, a portion of the sale goes to repay the advance, and the rest is returned to the merchant. "Business owners can get funding for everything from business expansion to cash for emergency expenses," says Shoykhet.  Merchant cash advances are particularly attractive to restaurants, retailers, gas stations, dry cleaners and other small businesses where 80% or more of the business' daily transactions involve a credit or debit card payment.
Shoykhet points out that Rapid Capital Funding assesses each applicant individually, rather than relying on industry data to make its approval decisions. "Our executives all have experience running and managing small and medium sized businesses, which gives them a unique perspective on how these businesses operate," says Shoykhet. "We look at each applicant's circumstances on a case-by-case basis because many small businesses can be highly successful, even when their overall industry isn't performing well."

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Rapid Capital Funding is a boutique business cash advance provider located at 2500 East Hallandale Beach Boulevard, in Hallandale Beach, FL and offers business cash advances of up to $250,000 to qualified merchants throughout the United States. Rapid Capital Funding has partnered with North American Bancard to provide transaction processing services, and can provide cash to most qualified applicants within 72 hours of receiving a business cash advance request. Rapid Capital Funding can be found on the Web at http://www.rapidcapitalfunding.com. The company can also be reached by phone at (888) 702-2748.