From Rags to Riches in the Small Business World
The Webster's dictionary entry for entrepreneur is 'One who takes the initiative to create a product or establish a business for profit; generally, whoever undertakes on his own account an enterprise in which others are employed and risks are taken.'
Betheny Frankel has acquired the 'entrepeuner' title after successfully grooming her Skinnygirl low-calorie cocktail line into a flourishing $120 million dollar business. In More recent times Bethenny Frankel has become a household name for her role in the TV show The Real Housewives of New York City. Followng the success of that show, she starred in her own show Bethenny Getting Married followed by Bethenny Ever After. However more than her TV apperances, Frankel has made her own name as a sharp and clever businesswoman.
Frankel is another example of a small business sucess story and she gives faith to the many small business owners and budding entrepreneurs that success is in their reach.
She revealed some insights and tips to success which included, having a personal mission statement, create a business platform to work with and never allow any mishaps along the way to throw you off your route.
Additionally, Frankel also suggested that your Social Media Presence should be of most importance to your business. By engaging with your fans and customers via newsletters, emails, Twitter and Facebook allows the customer to interact in a 'real' and intimate' fashion.
Frankel achieved success with her Skinnygirl low-calorie cocktail line, however her tips and advice can be applied to the Restaurant industry, retail business and many other small business areas.
The full article can be read here.
A new era called co-funding
ISOs (independent sales offices) are no longer seen as merely agents between Merchant and Merchant Cash Advance providers as ISOs can now participate in the sale of a cash advance in what is known as co-funding or syndication.
Co-funding or syndication is a simple process involving the ISO co- funding a percentage of a cash advance.
This innovation allows the ISO to still claim commission on the sale and simultaneously receive the payback percentage on the cash advance.
Co-funding is fairly new and it gives ISOs more of an incentive says 1st Merchant Funding co-founder Levi Rosenblum, "It creates more motivation for an agent to sell an advance. Co-funding has not been around for very long, but we are seeing more interest in it.”
The full article can be read here.
The Bad Credit Business Loan Alternative, isn’t so Bad after all.
How The Bad Credit Business Loan Alternative operates.
Your credit score is below 700, your rent is due, and you need new machinery immediately. In a nutshell, you have bad credit and you require much needed working capital for your business.
Are you a small business owner looking for a bad credit business loan alternative? Don’t worry; there are plenty of others in the same situation as you out there who are finding alternative business loans for bad credit.
Welcome Merchant Cash Advance, a business loan alternative made easy for small business owners who have a bad credit rating who are in need of immediate business working capital. A merchant cash advance provides merchants with ongoing working capital in exchange for merchants’ future credit card sales.
You have been to the bank endless amounts of time but they aren’t listening to you. You have requested loans, you provided guarantors, and you put up collateral but the banks turn their heads. It’s simple – you need a bad credit business loan alternative.
You have had meetings with credit repair companies who attempt to clean up your credit report but you need the money now.
Here is an example; Daniel Davis owns a small business, a local supermarket in South Florida. Daniel needs some capital to completely fit his new supermarket. Daniel’s business credit is fairly new, which in essence means he has a bad credit score and he will be unable to be approved for a traditional bank business loan. The traditional lenders, the banks and other financial institutions do not want to risk a line of credit in fear of not having it repaid. Daniel’s bad credit resulted in him being disapproved for a traditional business loan. Daniel still has some options to get a bad credit business loan even with his bad credit rating.
Your bad credit means that you have to entertain different forms of obtaining a business loan. There are a few ways to obtain untraditional loans in the form of;
1) Home Equity Lines of Credit – this type of loan will only work if the person with bad credit owns a home.
2) Business Credit Card – but usually the lines of credit are minimal (in the situation where a low credit score is present).
3) Personal loans from family
4) Business loans with bad credit – expect these loans to be laden with high interest figures and can be very expensive.
The above types of business loans are obtainable, but many small business owners, with a bad credit rating still do not fit the criteria of such business loans.
The Bad Credit Business Loan Alternative and its value today.
Where do small business owners with bad credit turn to next? Where does a young entrepreneurially small business with bad credit in desperate need for a business loan find much needed working capital?
The bad credit business loan alternative has been a fresh injection of financing for the small business owner with bad credit over the past few years.
Business loan alternatives have become popular since the downturn of the economy. Small and developing business owners are finding it tough out there in the big world of commerce as they try and kick-start their innovative business ideas.
Entrepreneurs have novel ideas lined up for business ventures but they lack the finances.
Statistics show that in the United States, small business demand for non-equity capital was estimated to be $240 Billion dollars annually. Less than 10% of small businesses qualify for traditional bank financing resulting in the majority of small business owners turning to alternative business loans, usually due to bad credit. The figures are evident that the small business industry is quite large, with plenty of money being funded, even to small businesses with bad credit.
Bad credit business loan alternatives offer much needed working capital to merchants who cannot borrow from traditional lending institutions due to their bad credit. The qualification process for alternative business loans is much less rigorous than traditional small business loans from the banks. Merchants credit reports will not be considered, outstanding Court judgments against them will be disregarded and any marital issues will be overlooked. The flexibility and benefits of a bad credit business loan include;
1) Credit history not evaluated.
2) No need to post a personal guarantee for the cash advance
3) Fast and easy approval timeframes.
4) The cash advance can be used for anything from acquiring inventory, paying rent, paying salaries and more.
5) Regular day-to-day business continues with remittances through process of credit card sales.
6) No risk of your credit score being tarnished
The bad credit business loan providers want to know that you process credit card transactions and that you have settlements. It is that easy and flexible. Renewals are offered on a percentage of a repayment on cash advance.
Business loan alternative providers realize life isn’t always perfect, and if you have a bad credit score and you need a business loan they won’t be afraid of you. The banks just look at credit score, alternative business financing loans look at your character – and provide quality, safe and potential lucrative business loan alternatives.
1st Merchant funding is a leader and expert in the industry and offer Merchant Cash Advances to small and medium-sized businesses in exchange for merchants’ future credit card sales. The process is simple, hassle-free and rewarding. Contact 1st Merchant today, and get approved funding right away.
Merchant Cash Advance Balance by Phone Available. Powered by PowerForce 2.0
Business owners that have a merchant cash advance with 1st Merchant Funding can now obtain their balance by phone in real-time. In addition to obtaining a balance via phone, merchants are now automatically notified via our auto attendant once they are renewal eligible.
To obtain your balance by phone simply dial 1-866-710-2265 and Option 1 for your balance.
1ST MERCHANT FUNDING DEVELOPS AND RELEASES OFFICIAL MOBILE APPLICATION FOR 2011 ETA ANNUAL MEETING & EXPO
1ST MERCHANT FUNDING DEVELOPS AND RELEASES
OFFICIAL MOBILE APPLICATION FOR 2011 ETA ANNUAL MEETING & EXPO
Miami, FL (May 2, 2011) – 1st Merchant Funding, LLC announced the release of the official 2011 mobile application for the 2011 ETA Annual Meeting & Expo being held in San Diego, California May 10 – 12, 2011.
For the second year in a row, 1st Merchant Funding has sponsored and participated in the ETA’s Annual Meeting & Expo. In support of the Expo, 1st Merchant Funding developed and published the “2011 ETA App” for Android and iPhone PDAs giving conference participants real time access to all information and events during the Expo.
After downloading the App, participants will find the full list of exhibitors, including company name, overview and contact information. The App also provides participants with an interactive map of all booth locations in the Expo Hall where users can locate and generate point-by-point directions to all exhibitors they would like to visit during the event. Other functionalities of the ETA App allow users to upload and share digital business cards, set-up meetings with other App users, post live updates directly to Facebook and Twitter as well as a number of other useful tools.
For instructions on how to download the app for your iPhone, Android or other PDA device, please visit http://www.eta-app.com/ or the “ETA App” link on http://www.electran.org/.
About 1st Merchant Funding
Headquartered in Miami, Florida, 1st Merchant Funding is a leading provider of merchant cash advances to small and medium-sized businesses, having funded thousands of businesses with millions of dollars in working capital throughout the United States. 1st Merchant Funding has one of the industry's largest independent sales networks with over 2,500 independent sales agents marketing its cash advance products. Businesses typically use 1st Merchant Funding’s capital to fund expansion, purchase equipment and inventory, increase advertising, manage unexpected expenses and take advantage of seasonal opportunities. 1st Merchant Funding is also the creator and gatekeeper of, PowerForce™, the industry’s leading CRM platform. For more information about 1st Merchant Funding’s quick and easy working capital solutions, please call 1-866-710-2265 or visit www.1stmerchantfunding.com.
About ETA
The Electronic Transactions Association is an international trade association representing companies who offer electronic transaction processing products and services. The purpose of ETA is to influence, monitor and help shape the merchant acquiring industry by providing leadership through education, advocacy and the exchange of information. ETA's membership spans the breadth of the payments industry, from financial institutions to transaction processors to independent sales organizations (ISOs) to equipment suppliers. More than 500 companies worldwide are members of ETA.
Source: 1st Merchant Funding, LLC
1st Merchant Funding, LLC
1135 Kane Concourse, 3rd Floor
Bay Harbor Islands, Florida 33154
1ST MERCHANT FUNDING APPOINTS JUSTIN BAKES AS CHIEF EXECUTIVE OFFICER
1ST MERCHANT FUNDING APPOINTS JUSTIN BAKES AS CHIEF EXECUTIVE OFFICER
Miami, FL (April 18, 2011) – 1st Merchant Funding, LLC announced the appointment of Justin Bakes as Chief Executive Officer of the Miami-based company.
Bakes most recently served as Director of Mergers & Acquisitions of Watsco, Inc. (NYSE:WSO), a $3 billion annual revenue acquirer and operator of distribution businesses throughout the country. Prior to Watsco, Bakes was an investment banker with UBS in both New York and Europe where he advised a wide range of companies, including specialty finance businesses and private equity firms, on mergers, acquisitions and capital raisings.
"We are very excited to have Justin join the 1st Merchant Funding team,” said Levi Rosenblum, 1st Merchant Funding’s co-founder. "Under Justin's leadership, I am confident we will continue our momentum as an industry leader with best-in-class technology and innovative product offerings. Justin shares our vision of providing small and medium sized businesses with much needed working capital.”
About 1st Merchant Funding
Headquartered in Miami, Florida, 1st Merchant Funding is a leading provider of merchant cash advances to small and medium-sized businesses, having funded thousands of businesses with millions of dollars in working capital throughout the United States. Businesses typically use 1st Merchant Funding’s capital to fund expansion, purchase equipment and inventory, increase advertising, manage unexpected expenses and take advantage of seasonal opportunities. 1st Merchant Funding is also the creator and gatekeeper of, PowerForce™, the industry’s leading CRM platform. For more information about 1st Merchant Funding’s quick and easy working capital solutions, please call 1-866-710-2265 or visit www.1stmerchantfunding.com.
Source: 1st Merchant Funding, LLC
Small Business Loans for Bad Credit Merchants
Small Business Loans for Merchants with bad credit is an increasing problem in our economy. There are many merchants in todays economy with bad credit that have a performing small businesses looking for working capital. A Starter Merchant Cash Advance is a great alternative for small business owners looking for a small business loan. There are no long applications to complete, bad credit is usually not an obstacle as the merchants business will be underwriting based on its performance as a primary reason for approval. Business owners with bad credit looking for a great small business loan alternative and immediate working capital can contact our instant approval line at 1-866-710-BANK (2265) to see how much they will qualify for. Funds can be available and transferred in as quick as 24 hours.