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For better or for worse, businesses have become dependent on the banks when it comes to getting working capital for everyday expenses. They are in the habit of using short-term loans to pay for things like inventory and payroll. Now that the banks aren’t lending the way they used to; they have to find a way to break their dependency on the banks.

In the mean time, many of these businesses are getting behind in their payments, which have caused credit problems for several of them. If they thought it was hard to get a loan before, they should try getting a loan with bad credit.

Thankfully there is a funding solution that does not require good credit to get you funded. That funding solution is called a merchant cash advance (sometimes called a merchant loan). Many have used them to get caught up with their bills and help wean them off of the practice of using short-term loans to pay for normal business expenses. (more…)