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03-25-2015, 10:29 AM #1
Merchants are interested in purchasing equipment, yet taking out a Cash Advance?
I wanted to bring up this topic as over the past quarter we have seen a huge increase in applications from ISO's that the use of funds is Equipment. Now I understand that there are certain circumstances where the cash advance is the only option due to credit, collateral, or time in business. However 70% of these applications could be approved through our Equipment Leasing & Financing program. With that said, we as an industry need to start placing these merchants into programs that fit business needs. With our Equipment Leasing & Financing program the terms are 12-60 months with monthly payments, and rates are far more aggressive than cash advances. This program will have less strain on the customers cash flow, in turn still leaving the option for taking capital down the road open. As we all know businesses have other needs for an advances (marketing, payroll, inventory, Etc.) I wanted to bring this to light and get others opinions on this?
Josh Feinberg
President/CEO
(D) 603 379 1890
(T) 888 777 8144 x 100
(F) 603 262 3764
Everlasting Capital Corporation
18 North Main St
Rochester, NH, 03867
Everlastingcapital.com
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