Avoiding critical business cash advance and credit card
processing mistakes is an important but potentially
difficult requirement in obtaining appropriate business
finance terms. Commercial borrowers should expect to secure
improved working capital management terms and avoid
potentially devastating business financing problems by
taking some extra time and caution.
In our experience, the potential difficulties involving
factors discussed below are more serious and common than
most business owners expect. While we will not be
addressing all possible merchant cash advance and working
capital loan mistakes in this article, we will include
several of the most severe issues to anticipate.
Misrepresentations and Unwillingness to Explain Working
Capital Details -
In my experience, most business cash advance and working
capital loan agents are more interested in earning revenues
from credit card processing than anything else. This
results in rampant misrepresentations about what they can
do for a business owner in their attempt to secure business
finance help through credit card financing. When this
occurs, the costs and time required to finalize business
financing are typically understated intentionally in order
to rush the process of switching processing providers to
those represented by the agent.
It should come as no surprise that such advisors are often
motivated by their own financial interests more than those
of business owners they are representing. In such cases,
they are unlikely to provide either detailed information or
prudent advice for a commercial borrower. Based on our
observations over many years, a suggested way to avoid this
potential trap is to utilize an advisor who is experienced
in all aspects of business financing and not simply in
credit card processing or business cash advance services.
It will be even more helpful to work with a business
finance advisor who willingly avoids a direct conflict of
interest. For example, if an individual is advising a
business owner about business cash advance services and
will not profit in any way from the credit card processing
requirements, then that individual is likely to provide a
more unbiased recommendation.
Ignoring Common Credit Card Factoring and Business
Financing Problems -
Although business cash advance and credit card processing
programs are needed by many businesses, commercial
borrowers should not overlook the numerous problems that
can regularly occur with these services. We have prepared
several reports that describe in detail key problems for
many merchant cash advance services.
The main point we want to emphasize is that it is not wise
or necessary to accept any of these common difficulties.
The recommended strategy for avoiding this particular
mistake is to work with an experienced advisor who is
knowledgeable and candid about how to approach these
critical business finance problems.
Inexperienced Business Finance and Credit Card Processing
Advisors -
Most lenders and brokers which previously provided
residential mortgages have been forced to look for
alternate sources of revenue. Business cash advance and
credit card processing programs have recently become more
popular with these brokers and lenders.
The immediate impact is a sudden influx of inexperienced
residential mortgage brokers and lenders attempting to
provide working capital management advice for credit card
processing and business cash advance services. As we have
written about extensively, business financing is infinitely
more complex than residential financing. For most business
owners, the use of inexperienced business finance advisors
will be a mistake of potentially serious proportions.
Conversely a prudent strategy for avoiding this mistake is
to eliminate advisors and lenders without significant
long-term business financing success.
Solutions and Strategies for Avoiding Credit Card
Processing and Business Cash Advance Mistakes -
Business owners should look for advisors and resources
which will provide relevant strategies and solutions for a
business owner to acquire an adequate understanding of
complex business cash advance and credit card processing
issues. Business borrowers should thoroughly discuss
options with a business financing expert before proceeding
with working capital management programs. These efforts
will be worthwhile since the potential business finance
mistakes described above can be overcome successfully.
----------------------------------------------------
Steve Bush is a business finance and commercial real estate
investment property loan expert. Find out more about
commercial mortgage - business opportunity loan strategies
recommended by AEX Commercial Financing Group at =>
http://aexcommercialfinancing.com
No comments:
Post a Comment