Credit Cash has entered the cash advance industry as a lender with very low rates compared to the industry standard rates above 100% interest.
NEW YORK, N.Y. — Credit Cash LLC saw a need for lower cost financing for companies that accept credit cards, and has entered the cash advance industry. All of Credit Cash’s advances are structured as loans so clients can know exactly what rate they are paying. Alternatively, the industry norm is to structure transactions as a “purchase of future credit card sales.” This financing structure allows the finance companies to charge rates that often exceed 100% interest.
Credit Cash is the brain child of a team of highly experienced asset based lenders. They evaluated the cash advance industry and saw a need to provide reasonable cost funding to larger, more credit worthy prospects. Companies with sales in excess of $3 million annually typically have not been willing to pay high cash advance rates.
From restaurant and retail chains, to hotels and travel plazas, Credit Cash has carved out a niche in the alternative financing market by charging rates just above traditional bank rates. Loans size is determined by credit card sales volume and range in size from $150,000 to $3 Million.
Credit Cash does not compete with banks; they service companies that have often reached their bank’s credit line and are unable to increase it. Whether dealing with seasonality or growth opportunities, a prospect can usually get funded in 10 days. Also, unlike most cash advance companies, Credit Cash does not require customers to change their credit card processor. 100% of their clients have renewed their loans whose terms range from 6 to 24 months.
Credit Cash is a time-and-cost efficient alternative to the traditional method of borrowing working capital, for companies that accept credit cards.
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NEWS SOURCE: Credit Cash LLC
