cash advance – Great Mum Adventure http://greatmumadventure.com/ Sat, 26 Mar 2022 19:49:42 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://greatmumadventure.com/wp-content/uploads/2021/10/great.png cash advance – Great Mum Adventure http://greatmumadventure.com/ 32 32 The mailing list website is ready with leads for businesses that have subscribed to or applied for merchant cash advance programs https://greatmumadventure.com/the-mailing-list-website-is-ready-with-leads-for-businesses-that-have-subscribed-to-or-applied-for-merchant-cash-advance-programs/ Tue, 15 Mar 2022 14:30:00 +0000 https://greatmumadventure.com/the-mailing-list-website-is-ready-with-leads-for-businesses-that-have-subscribed-to-or-applied-for-merchant-cash-advance-programs/ RED HOT Business Contacts for Merchant Cash Advances Businesses that need working capital Hot leads for Cash Advance, LOC, SBA and all related financial products Tips for cash advance brokers Business Merchant Advance Requests Business loans have a similar perception, and businesses that accept cash advances from merchants provide new opportunities for the right business. […]]]>

RED HOT Business Contacts for Merchant Cash Advances

Businesses that need working capital

Hot leads for Cash Advance, LOC, SBA and all related financial products

Tips for cash advance brokers

Business Merchant Advance Requests

Business loans have a similar perception, and businesses that accept cash advances from merchants provide new opportunities for the right business.

LAS VEGAS, NV, USA, March 15, 2022 /EINPresswire.com/ — Sprint Data Solutions Worldwide Marketing is Ready to Deliver Marketing assistance to help businesses find more clients or clients. Businesses that focus on other businesses will benefit greatly from a wide range of different business mailing lists. Appropriate titles, names, and contact information make it easier to contact relevant decision makers for high-volume transactions.

Companies offering products and services aimed at the general public will use the many consumer mailing lists available. They cover a wide range of geographic and demographic marketing requirements. Whether a business is B2B or consumer-focused in general, databases are available for more accurate targeted marketing.

The Beginning of Sprint Data Solutions Worldwide
Sprint Data Solutions Worldwide Marketing was the brainchild of a disabled veteran considering the next steps. After fulfilling the obligations of military duty, the next step was not more conflict but growth. This growth would come in the form of helping the economy by helping businesses better find the customers and customers so critical to revenue. A small start-up began advocating for this, and today this company is proud to have staff with over 50 years of combined experience in the marketing industry.

Sprint Data Solutions Worldwide Marketing entered the marketing industry just before a major change during the lull. Traditional marketing techniques still dominated the field, but digital was already attracting attention as a potential driver of change, as it had in other fields. The company focused its efforts on direct mail, which had the happy side effect of imparting critical expertise in data acquisition, management, and analysis. When digital marketing exploded as a highly sought-after new platform, the company enjoyed a leading edge through its experience, realizing significant gains for itself and its customers.

Sprint Data Solutions Worldwide Marketing initially served only a small operating range, its hometown of Las Vegas, Nevada. Now it covers the entire United States, including Alaska and Hawaii. It also serves the rest of the North American continent with databases for the Canadian and Mexican markets. Ads are also available for companies ready to internationalize, cross the Atlantic and enter European Union markets such as France.

All business strategies are viable

As the name suggests, a cash advance is not a typical loan. Yet it is a transfer of funds based on an estimate of the profits a business will eventually make from transactions such as credit card purchases and other metrics. MCAs are given based on a valuation of a company and its earnings. An assessment of daily credit card receipts, for example, would be one of the factors used to decide whether or not to grant an MCA and how bad that MCA could potentially be.

A merchant cash advance, once approved, results in an immediate injection of cash into the applicant’s business account. However, this advance must be repaid, and this is usually done by collecting a small percentage of future receivables and credit card transactions. Interest rates are usually around 20-40%, so this is a significantly higher amount than a conventional loan would expect.

An investment opportunity
Companies that have taken the time to apply for and obtain a merchant cash advance are already showing many indicators of receptivity to certain types of products and services. An endorsement from an MCA shows that an appraisal has already viewed a business as a stable profit generator that can be relied upon to generate sufficient revenue to repay an advance.

These are companies that make sound business decisions and seek to expand their business beyond their current level. For B2B companies, this is a wealth of different opportunities to provide financial products, services and other offerings for expansion, growth and investment. Granting an MCA is further evidence that a business is at least producing steady income in credit card transactions and other accounts receivable.

Reach the right companies

Sprint Data Solutions Worldwide Marketing has comprehensive listings from cash advance recipients to merchants across the United States. Databases can be scaled up or down to meet any need, from a national campaign to a specific region, such as New England businesses. And of course, individual states, like California, can be targeted and particular neighborhoods within a city, like only businesses in Queens in New York.

Businesses can also be divided based on demographic requirements. Thus, if a product or service only concerns companies in the agri-food industry, this category can be used exclusively. Companies can also be categorized by size, so if the interest is only for medium-sized companies or companies that have generated a specific annual turnover, these measures can also be provided. Databases provide required data such as postal addresses. Other data available upon request includes email addresses for digital marketing, phone numbers for telemarketing and even cell phone numbers for SMS/text marketing.

Customers who want to manage a direct mail campaign but lack experience will benefit from turnkey direct mail solutions. This unique service guides you through every step of the immediate mail process. Every step is covered from concept to design, printing and manufacturing, and finally distribution.

If you want access to Merchant Cash Advance recipients across America, contact Sprint Data Solutions Worldwide Marketing. It’s a quick and effective way to get the results you want to increase your sales. You support a US business owned and operated by a disabled veteran when you work with us.

English analeid
Sprint Data Solutions Global Marketing
+1 702-472-8668
write to us here

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Top Companies Leading the Merchant Cash Advance Industry Revolution to Take Advantage of the Growing Opportunity – Fundbox, Credibly, American Express, Fora Financial, PayPal Working Capital, Square Capital https://greatmumadventure.com/top-companies-leading-the-merchant-cash-advance-industry-revolution-to-take-advantage-of-the-growing-opportunity-fundbox-credibly-american-express-fora-financial-paypal-working-capital-square-c/ Mon, 14 Mar 2022 06:34:58 +0000 https://greatmumadventure.com/top-companies-leading-the-merchant-cash-advance-industry-revolution-to-take-advantage-of-the-growing-opportunity-fundbox-credibly-american-express-fora-financial-paypal-working-capital The Global Merchant Cash Advance Market offers information advice on the business enterprise. Components such as Merchant Cash Advance Overwhelming Businesses, Construction, Quotation, Trade Analysis, SWOT and PESTEL Analysis, and many viable models in the market area. Additionally, current and previous figures, report outlines, figures, and tables provide a straightforward view of the Merchant Cash […]]]>

The Global Merchant Cash Advance Market offers information advice on the business enterprise. Components such as Merchant Cash Advance Overwhelming Businesses, Construction, Quotation, Trade Analysis, SWOT and PESTEL Analysis, and many viable models in the market area. Additionally, current and previous figures, report outlines, figures, and tables provide a straightforward view of the Merchant Cash Advance market. The analysis such as the profiles of these institutions, images of this product, their specifics, their size and their market share in the whole industry, the tactile factors of concentration of the main producers are explained from the report 2021-2027. . Today’s market is growing at a very fast pace, and it has witnessed the departure of various local and provincial Merchant Cash Advance retailers offering a special type of program for many different end customers.

Sample Free Report + All Related Charts & Graphs @ https://www.adroitmarketresearch.com/contacts/request-sample/2299?utm_source=Sujata

Key players in the merchant cash advance market including:

Fundbox, Credibly, American Express, Fora Financial, PayPal Working Capital, Square Capital, National Funding, Stripe Capital, Lendio, Kabbage and CAN Capital.

The essential objective of the Merchant Cash Advance market report will always be to uncover industry insights and help players grow in their specific fields. Additionally, the Merchant Cash Advance report maintains an updated industry propensity which includes market circumstances and market forecast amid 2021-2027. Additionally, the record centers accessible on the global merchant cash advance market industry estimates. Additionally, the Merchant Cash Advance report also grasps the kind study of market insights, opening up as a way to enable Merchant Cash Advance market traders to make substantial decisions in their future employments.

The report presents a detailed examination of the multi-faceted factors, in addition to identifying a notable DROT assessment that collectively incites positive growth projections throughout the forecast span. Apart from recounting past growth stages encompassing advances in the merchant cash advance market, this report also assesses current events to consistently make futuristic predictions. Manufacturers considering new growth strategies to effectively offset the implications of the global pandemic may well derive actionable insights to align with balanced growth targets in the global merchant cash advance market. Each of the strategies adopted by the frontline actors has been well defined to influence new achievable strategies, aiming for the sustainability of growth.

Valuable insights into factors like pricing strategies, sales performance, portfolio valuation have also been nicely captured in the report through several current and past growth event timelines that enable growth and development future loans in the global merchant cash advance market.

Merchant Cash Advance Market Segment By Type:

by type ($5,000-250,000, $250,000-500,000, over $500,000), deployment (online, offline),

Merchant Cash Advance Market Segment By Application:

Application (time in business less than 6 months, time in business 6-12 months, time in business 12-18 months, time in business more than 18 months)

This multi-dimensional report is easy investment documentation suitable to aid in high-end investment discretion despite clearing challenges in the industry. The report enables market players to derive optimum understanding of various growth probabilities and identify potential growth triggers and palpable challenges that are critically affecting the growth of free flow in the merchant cash advance market. This report shares crucial details regarding key industry factors such as revenue and performance, pricing strategies, portfolio analysis of frontline players as well as growth comparison over time periods. such as past and current experiences that collectively decide futuristic proposals.

Reasons to buy this report:

* It offers an analysis of the evolution of competitive scenarios.
* To make informed decisions in businesses, it offers analytical data with strategic planning methodologies.
* It offers a six-year assessment of the merchant cash advance market.
* It helps to understand the major key product segments.
* The researchers shed light on market dynamics, such as drivers, restraints, trends, and opportunities.
* It offers regional analysis of the Merchant Cash Advance Market along with business profiles of several stakeholders.
* It offers massive data about trending factors which will influence the progress of the Merchant Cash Advance Market.

Contents:

1 Scope of the report
1.1 Market Overview
1.2 Research objectives
1.3 Years considered
1.4 Market research methodology
1.5 Economic indicators
1.6 Currency considered
2 Executive Summary
3 Global Merchant Cash Advance by Players
4 Merchant Cash Advance by Regions
4.1 Merchant Cash Advance Market Size by Regions
4.2 Americas Merchant Cash Advance Market Size Growth
4.3 APAC Merchant Cash Advance Market Size Growth
4.4 Europe Cash Advance Market Size Growth
4.5 Middle East & Africa Merchant Cash Advance Market Size Growth
5 Americas
6 APACs
7Europe
8 Middle East and Africa
9 Market Drivers, Challenges and Trends
9.1 Market Drivers and Impact
9.1.1 Growing Demand from Key Regions
9.1.2 Growing Demand from Key Applications and Potential Industries
9.2 Market Challenges and Impact
9.3 Market trends
10 Global Merchant Cash Advance Market Forecast
Analysis of the 11 key players
12 Research findings and conclusion

Do you have a specific question or requirement? Ask our industry expert @ https://www.adroitmarketresearch.com/contacts/enquiry-before-buying/2299?utm_source=Sujata

ABOUT US:

Adroit Market Research is an India-based business analytics and consulting company. Our target audience is a wide range of businesses, manufacturing companies, product/technology development institutions and industry associations who need to understand market size, key trends, participants and future prospects of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help them create opportunities that increase their revenue. We follow a code – Explore, learn and transform. At our core, we are curious people who enjoy identifying and understanding industry patterns, creating insightful study around our findings, and crafting lucrative roadmaps.

CONTACT US:

ryan johnson
Global Account Manager
3131 McKinney Ave Ste 600, Dallas,
TX 75204, USA
Phone number: USA: +1.210.667.2421/ +91 9665341414

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Morgan Brookshire is quickly becoming a big standard in the merchant cash advance industry https://greatmumadventure.com/morgan-brookshire-is-quickly-becoming-a-big-standard-in-the-merchant-cash-advance-industry/ Fri, 11 Mar 2022 20:30:00 +0000 https://greatmumadventure.com/morgan-brookshire-is-quickly-becoming-a-big-standard-in-the-merchant-cash-advance-industry/ NEW YORK, March 11, 2022 /PRNewswire/ — The past two tumultuous years have seen less activity than usual from banks and large institutions into credit-driven markets, prompting merchants to turn to the cash advance industry. funds to meet their needs and meet their financing needs. Rigorous submission criteria and high fees in an unregulated environment […]]]>

NEW YORK, March 11, 2022 /PRNewswire/ — The past two tumultuous years have seen less activity than usual from banks and large institutions into credit-driven markets, prompting merchants to turn to the cash advance industry. funds to meet their needs and meet their financing needs. Rigorous submission criteria and high fees in an unregulated environment have created poor conditions for these traders. Morgan Brookshire now focuses entirely on providing working capital and also the same capital on much better terms for the trader.

A name has been synonymous with great loan at the most opportune time – Morgan Brookshire. Since their beginnings, Morgan Brookshire has been at the forefront of innovation and professionalism. For all capital needs, it is the only company that has won all praise and trust from all business owners.

Get the money you need at the right time for your business, regardless of your credit. No credit check needed. Purely commercial sales oriented way of obtaining capital for a business, which is innovative. Morgan Brookshire lends a helping hand to all companies that are struggling to get by. This is a remarkable feat since banks still take too long to review and do all the paperwork and still say no at the end of all this ordeal.

Not so long ago, a myriad of companies were trying to compete for the top spot in this tumultuous industry. They have all tried and failed. Many have fallen by the wayside due to unscrupulous business practices and shoddy workmanship. It’s the breath of fresh air the entire industry needs. Although mainly in United States now they are about to go global. Morgan Brookshire ensures their high standard does not waver with ever-increasing pressure from all angles to redeem his legacy. Everyone hopes that this business will continue its success and pave the way for a fully competent and valuable friend for the regular business owner.

The ability to trust a company that can provide financial assistance at the right time is a real help in these times. Business owners, who have faced unfortunate circumstances, need help the most right now, they can finally count on a company that has become the gold standard in a highly criticized industry. Morgan Brookshire is the only name a business owner needs to move forward in these difficult times. A truly helpful and diligent company that puts everything else in the MCA industry to shame. It’s the new era of helping the average business owner thrive with the right help – at the right time. Morgan Brookshire – really great for the average business owner.

Unsecured financing is the real help for any business. No collateral, assets, or even equity in the business should be put up in return for obtaining the necessary financing to grow and grow a business in any industry. Any business owner, regardless of size, can now be assured of the premium service offered by Morgan Brookshire. As in the words of one small business owner, “I had horrible expectations with other so-called good lenders. But Morgan Brookshire helped me at a time when I needed help without hassle. In the future, whenever I need a helping hand, Morgan Brookshire is here with me.” In the minds of many business leaders, the same feeling replays.

Contact the back office
Morgan Brookshire LLC
212.470.6806

SOURCEMorgan Brookshire LLC

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ERTC Cash Advance Rapid Loan PPP Funding for ERC Employee Retention Tax Credit https://greatmumadventure.com/ertc-cash-advance-rapid-loan-ppp-funding-for-erc-employee-retention-tax-credit/ Wed, 09 Mar 2022 03:39:33 +0000 https://greatmumadventure.com/ertc-cash-advance-rapid-loan-ppp-funding-for-erc-employee-retention-tax-credit/ The Employee Retention Tax Credit (ERC or ERTC) is an extremely misunderstood opportunity for many small and medium-sized employers, but as more businesses begin to realize they are eligible to this payroll tax refund, the backlog of claims continues to grow. Daily. Lacey, United States – March 8, 2022 — The Employee Retention Tax Credit […]]]>

The Employee Retention Tax Credit (ERC or ERTC) is an extremely misunderstood opportunity for many small and medium-sized employers, but as more businesses begin to realize they are eligible to this payroll tax refund, the backlog of claims continues to grow. Daily.

The Employee Retention Tax Credit (ERC or ERTC) is an extremely misunderstood opportunity for many small and medium-sized employers, but as more businesses begin to realize they are eligible to this one-time pandemic payroll tax refund, the backlog of applications continues to grow every day.

For all interested parties, the following website offers a comprehensive FAQ section as well as a free 30 second eligibility quiz which has been updated to reflect the latest legislation: https://www.joinallies.com/ertc

At the time of writing, the current time between the initial request and the actual refund check sent back to the company is usually between 5 and 9 months. (But this also assumes that the calculations were done correctly from the start).

If not, any required corrections or changes can lead to much longer delays, which is why it is extremely important to ensure that they are done accurately the first time.

Likewise, based on current turnaround times and growing economic uncertainty, some companies may benefit from “selling” their ERC rebate before receiving it. This can enable the company to receive its funds in just 2-4 weeks instead of the current 5-9 month time frame.

Interested parties can watch this educational video that explains how the ERC loan and cash advance funding process works: https://youtu.be/6ApZJjMaLXQ

Likewise, since the legislation regarding the employee retention tax credit has changed several times over the past two years, there is still a lot of confusion (even among CPAs, accountants and other financial advisors ) as to the companies eligible for this reimbursement program. .

A recent Forbes article was quoted: “IRS management predicted that approximately 70-80% of small and medium-sized businesses (as well as tens of thousands of charities) were good candidates to pass the ERC. The reality is – to date, the actual number of companies and charities applying for the ERC – is far below that. Small and medium businesses (along with tax exemptions/charities) leave billions of dollars on the table.

As with everything, business owners should always consult their financial, tax and legal advisors first, but for any owners who have not yet applied for the ERC (or those who have received outdated information in the past ), it might be prudent to consider getting a 2nd or 3rd opinion to make sure this isn’t a missed opportunity. Especially since the time available to request these refunds is limited.

It is also important to know that startups, as well as companies sold or closed (in 2020 or 2021), can still benefit from this tax credit.

For all interested parties, the following website offers a comprehensive FAQ section as well as a free 30 second eligibility quiz which has been updated to reflect the latest legislation: https://www.joinallies.com/ertc

Contact information:
Name: Lindsey
E-mail: Send an email
Organization: AI Media
Address: 1420 Marvin Road NE C124, Lacey, Washington 98516, USA
Website: https://www.joinallies.com/ertc

Build ID: 89067226

countex tracking

COMTEX_403758493/2773/2022-03-08T22:32:11

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Looks like a bumper crop of cash advances this spring https://greatmumadventure.com/looks-like-a-bumper-crop-of-cash-advances-this-spring/ Mon, 07 Mar 2022 21:00:28 +0000 https://greatmumadventure.com/looks-like-a-bumper-crop-of-cash-advances-this-spring/ Reading time: 4 minutes The groups that administer the cash advances are expecting a flood of requests from cash-strapped growers struggling with the exorbitant costs of planting a crop. Dave Gallant. Photo: Provided “We certainly think there will be demand because of the poor last year,” said Dave Gallant of the Canadian Canola Growers Association. […]]]>
Reading time: 4 minutes

The groups that administer the cash advances are expecting a flood of requests from cash-strapped growers struggling with the exorbitant costs of planting a crop.

Dave Gallant.

Photo:
Provided

“We certainly think there will be demand because of the poor last year,” said Dave Gallant of the Canadian Canola Growers Association.

“There will be so many farmers who have not harvested crops who have had a very difficult winter due to a lack of cash.”

The prospect of more farmers rushing to get the loans prompted his organization to open the application window earlier this year (in mid-February instead of early March). Alberta Wheat (which operates FarmCash) also started accepting applications earlier (March 1 versus mid-March).

Gallant said his association has its program ready to go as soon as the federal government announces the advance rates, which are based on the price at which AgCanada expects each product to sell. Although advance rates are set at around half of the expected selling price, they are rising sharply for many crops.

“Rates are significantly higher on some grains, and higher across the board,” Gallant said. “For canola, last year the advance rate was $252 a tonne. This year it’s $363 a ton…Farmers have the opportunity to get a lot more money this year due to the federal government increasing rates for the same acreage or tonnage they have grown last year.

However, the maximum cash advance remains at $1 million. Still, Syeda Khurram, CEO of Alberta Wheat’s FarmCash program, expects to issue more checks and bigger ones.

Syeda Khurram.

Photo:
Provided

“We’re seeing a significant increase in the number of calls we’re getting from producers,” she said. “We expect advances to increase as farmers need to maintain their cash flow.”

The rising cost of fertilizers and other inputs is putting pressure on farmers, Gallant added.

“When the costs of inputs, such as seeds, fertilizers and fuel, go up, there is always an increased demand for the program,” he said. “You need money to put the product in the ground, and you can’t generate money until you sell. So it gives farmers access to cash, so they don’t have to borrow from other sources. This allows them to pay bills, which are getting bigger and bigger.

The higher advance rates are badly needed, he added.

“We are very pleased that the government has increased rates the way it has, to recognize the fact that farmers are facing increased input costs this year — quite a dramatic increase,” Gallant said.

That money will start flowing out early next month.

If the producers “receive the request and if everything is completed, we will deposit this money in their account on April 1,” he said. Last year, the Canola Growers Association deposited more than $200 million into the accounts of 1,500 farmers on April 1.

The first $100,000 is interest free and FarmCash and the Canola Growers Program charges prime minus 0.75% on the rest. (There are a large number of program administrators, which vary by province and product. For a list, go to Advance Payments Program page on the Government of Canada website)

The discount, the interest-free portion and the low prime rate (which was 2.45% at the time this document went to press) make this a very cheap interest rate.

“If producers ask for $1 million, they can take advantage of the blended rate, which is 1.52% per annum,” Khurram noted.

(However, the prime rate is expected to rise, perhaps as early as March 2, when the Bank of Canada may raise the interest rate on money it lends to banks.)

Known informally as cash advances, the federal government’s advance payment program is expected to be widely used due to last year’s drought and high input costs this year.

Photo:
Agriculture.Canada.ca

Loans must be repaid when the crop or livestock are sold. For grains and oilseeds, the maximum loan term is 18 months and for livestock, it is 24 months. Cash advances are also available for other commodities, such as honey, vegetables and special crops.

The program works well for new growers, Gallant said.

“The only guarantees required under the program are inventory and crop insurance,” he said. “It gives a lot of flexibility to new and beginning growers.”

Neither the Canola Growers Association nor FarmCash charge an administration fee, and this is the second year that FarmCash has been offered to growers in Western Canada.

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What is a cash advance? https://greatmumadventure.com/what-is-a-cash-advance/ Wed, 02 Mar 2022 14:04:44 +0000 https://greatmumadventure.com/what-is-a-cash-advance/ Having access to cash on the fly can be daunting, especially if you don’t have enough money in your checking account to cover an emergency. One way to get cash fast is to take out a cash advance on your credit card. Please note: a cash advance is not free money. Chances are your cash […]]]>

Having access to cash on the fly can be daunting, especially if you don’t have enough money in your checking account to cover an emergency. One way to get cash fast is to take out a cash advance on your credit card. Please note: a cash advance is not free money. Chances are your cash advance is a major expense. Fortunately, there are alternatives that could save you some money.

What is a cash advance?

A cash advance is a short-term cash loan borrowed against the limit of a credit card. Similar to how you repay purchases made with a credit card, you must also repay borrowed money with a cash advance. However, the interest rate for borrowing money from a cash advance is often much higher than the interest rate on regular credit card purchases.

How cash advances work

You can initiate a cash advance in several ways. If you have a credit card with a PIN code, you can use the PIN code to withdraw cash from an ATM (subject to ATM fees). If your credit card issuer has physical branches, you can request a cash advance from a cashier inside. Finally, if you have access to checks through your card issuer, you can write yourself a check and cash or deposit it as needed. In addition to higher interest rates on cash advances, your card issuer immediately begins charging interest on the amount of the cash advance.

Cash Advance Interest Rates

The interest rate on a cash advance will always be significantly higher than your regular purchase APR (often close to 30% variable). There’s no grace period for interest rates on cash advances, so you’ll start earning that inflated interest right away. To determine your card’s exact interest rate, check out its terms and conditions for the Schumer Box, an easy-to-digest chart that lists your card’s important information. The information you find in the Schumer Box includes your card’s regular APR, penalty fees, late fees, and your cash advance interest rate.

For example, let’s say the current variable APR for a credit card is 11.99% to 22.99%, making it a relatively low interest rate credit card. But if you check the rates and fees in the fine print, you might find that the APR for a cash advance is 24.99% to 29.99% variable, which is much higher than what you might expect from the average credit card interest rate.

Cash Advance Line of Credit

Your cash advance line of credit is the maximum amount of cash you can withdraw to your credit card and is a percentage of your card’s total line of credit, which depends on the credit card and the ‘transmitter. Remember that you are still using part of your normal credit card line of credit when you take out a cash advance, so these funds are not available for purchases.

Should I take a cash advance?

You should only consider taking out a cash advance in an emergency. It’s better to get a cash advance than to take out a predatory payday loan, but it’s always better to look for potentially more profitable solutions. Here are some alternatives to consider before getting a cash advance:

  • Tap into an emergency fund: If you have a little extra cash, it’s best to dip into those emergency funds first rather than using a cash advance.
  • Borrow from a friend or family member: You can completely avoid inflated interest charges by borrowing from friends and family if they can afford it.
  • Find out about local organizations: Local community centers, non-profit organizations or religious organizations may have the capacity to help in times of financial crisis.

It may not be possible to completely avoid a cash advance. If you need to get a cash advance, try to withdraw as little as possible and make a plan to start paying it back immediately to minimize long-term costs.

The bottom line

You should avoid taking a cash advance whenever possible; however, this small loan can be a viable option in times of financial emergency. Before immediately jumping into a cash advance, try tapping into an emergency fund or borrowing money from a friend or family member. Exploring other lower-cost options will save you money over time, so be aware of your choices when considering a cash advance.

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Adams raised early campaign money from Top Aide associates now sued for fraud https://greatmumadventure.com/adams-raised-early-campaign-money-from-top-aide-associates-now-sued-for-fraud/ Wed, 02 Mar 2022 01:12:00 +0000 https://greatmumadventure.com/adams-raised-early-campaign-money-from-top-aide-associates-now-sued-for-fraud/ In 2018, seven employees of two New Jersey medical companies began donating thousands of dollars to Brooklyn Borough President Eric Adams’ campaign treasury. They worked for two companies – Ridgewood Diagnostic Lab and Interstate Multi-Specialty Group, both in Hackensack and owned by Dr. Alexandr Zaitsev, who was among the Adams donors. They each donated what […]]]>

In 2018, seven employees of two New Jersey medical companies began donating thousands of dollars to Brooklyn Borough President Eric Adams’ campaign treasury.

They worked for two companies – Ridgewood Diagnostic Lab and Interstate Multi-Specialty Group, both in Hackensack and owned by Dr. Alexandr Zaitsev, who was among the Adams donors.

They each donated what was then the maximum amount, $5,100, or nearly, to Adams’ campaign account between April 19 and November 29, 2018, according to Campaign Finance Board records.

At the time, Adams had not officially declared that he was running for mayor.

Ridgewood, Zaitsev and two other of the Adams donors are now charged in a lawsuit filed by GEICO in September 2020, with the insurance company alleging that they and other medical groups billed GEICO more than 4 $.5 million in fraudulent claims.

The lawsuit filed in Federal Court in Brooklyn and first reported by Bloomberg Newsalso exposes the connection between the two medical companies and Adams’ chief of staff, Frank Carone, who was co-owner of two LLCs that helped fund their launch.

Employees donated $40,600 to the campaign at the end of 2018.

They were all later refunded more than half the money after the Campaign Finance Council changed the maximum donation amount when a candidate participates in a matching fund program.

During his mayoral campaign, Adams chose to participate in the new 8-to-1 matching fund program — which allows $2,000 per person, with city-funded matching dollars for New York-based donors.

An Adams spokesman, Max Young, said Carone had nothing to do with the contributions from the mainly Jersey-based donors.

“Mr. Carone was a passive investor in these LLCs, did not solicit these donations, never met the donors in question, and did not know they had made a donation, then or now. said Young in a statement.

The 2020 lawsuit that led to so many revelations was filed in federal court in Brooklyn.
Ben Fractenberg/THE CITY

“Mayor Adams was honored to receive donations from thousands of New Yorkers across the city, under New York’s strict campaign finance laws,” Young added.

The seven employees who donated to the Adams campaign had never before, or since, donated to other New York candidates, records show.

Zaitsev’s lawyers did not respond to calls or emails seeking comment. Other employees who gave Adams money declined to comment or could not be reached for comment.

Cash advance

GEICO’s lawsuit alleges that Carone, along with his former legal partners, father and son Howard and Jordan Fensterman of firm Abrams Fensterman LLP, used limited liability companies to advance money to Zaitsev and others medical companies while waiting for insurance claims to be processed.

After presenting the money, the LLCs would be reimbursed with interest when GEICO paid the no-fault claims, the company alleged in its lawsuit.

The companies that paid the money to the medical groups, Financial Vision Group LLC and others with similar names, are owned by Zaitsev and Daniel Kandhorov, according to court documents.

Kandhorov, who lives in Queens, could not be reached for comment.

A spokesperson for the Fenstermans said they had no knowledge of donations to the Adams campaign.

In total, there were four Financial Vision Group LLC companies registered in Delaware, records show, and are partially controlled by Carone and the Fenstermans.

Within some of the LLCs are other LLCs with percentage holdings, including DMC Capital Group, which is primarily owned by Carone and the Fenstermans, documents show.

Eric Adams' chief of staff Frank Carone, center, accepts an award from Monsignor Jamie Gigantiello, left, during an event in support of Catholic schools, October 22, 2021.

Eric Adams’ chief of staff Frank Carone, center, accepts an award from Monsignor Jamie Gigantiello, left, and Bishop Nicholas DiMarzio during an event in support of Catholic schools, Oct. 22, 2021.
Screenshot/Futures in Education/YouTube

Another partial owner of DMC Capital Group is Monsignor Jaime Gigantiello, who has a 7.5% stake in the company, according to court documents.

Gigantiello is the director of the parish giving office in the Diocese of Brooklyn as well as the vicar — one of the highest administrative roles in the diocese, with powers similar to those of a bishop — for development.

“Bishop Jamie Gigantiello has made a personal investment with a highly respected friend,” John Quaglione, deputy press secretary for the Diocese of Brooklyn, said in a statement.

Providing cash in advance to medical companies awaiting insurance payments was part of the law firm’s healthcare practice, handing out cash as a stopgap in large insurance companies that pay claims, a city hall official said.

The official added that Carone’s involvement in these financial companies ended as he and other investors lost money in the deal. The pandemic has put a pause on in-person litigation, which has delayed payment from investors who have poured money into healthcare companies.

As a city employee, Carone also transferred all of his other investments to a blind trust, the official said.

Carone’s tangential involvement in the lawsuit was also reported by the Daily News, who noted a link between Johnny and Robert Petrosyants – restaurateur twin brothers with criminal records – and finance companies.

A log of emails between them and Carone was included in court documents, but full transcripts have not been released. Diaries show a connection between the brothers and Carone, they reported.

Adams has had previously defended his relationship with the Petrosyants, saying they have a longtime friendship.

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Linked Finance Launches Merchant Cash Advance https://greatmumadventure.com/linked-finance-launches-merchant-cash-advance/ Mon, 28 Feb 2022 12:37:22 +0000 https://greatmumadventure.com/linked-finance-launches-merchant-cash-advance/ Linked Finance has launched a merchant cash advance product, offering businesses a one-time payment that frees up their future revenue. The Irish peer-to-peer lending platform said the business was receiving a lump sum with repayments based on a percentage of its daily credit and debit card sales. Read more: Two-thirds of Irish SMEs struggle to […]]]>

Linked Finance has launched a merchant cash advance product, offering businesses a one-time payment that frees up their future revenue.

The Irish peer-to-peer lending platform said the business was receiving a lump sum with repayments based on a percentage of its daily credit and debit card sales.

Read more: Two-thirds of Irish SMEs struggle to access credit

Linked Finance said the advance can be used for a variety of reasons, such as regular cash flow, purchasing inventory or equipment, hiring staff, expanding office space, or digital upgrades.

The platform said the advance could suit a wide range of businesses that accept credit or debit cards as payment for their goods or services such as restaurants and takeaways, businesses in online, pubs and bars, hotels, retail stores, gymnasiums and hairdressers and beauty salons.

The refund is sent directly to Linked Finance by the provider of the borrowers’ payment terminal.

Read more: Linked Finance launches open banking solution for borrowers

Read more: Irish P2Ps welcome new crowdfunding regulations

“Businesses have several financing options to fund their growth,” Linked Finance said in a blog post on its website.

“A merchant cash advance is one of those options. An alternative financing option to a term loan, a merchant cash advance is best suited for businesses that receive regular payments by credit or debit card.

“An advance is also ideal for a company that needs funding quickly. Not every business expense can wait for a lengthy loan application process with a traditional bank.

“With a 24-hour credit decision and fast drawdown, a Linked Finance merchant cash advance is a short-term financing option that can work for business owners.”

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DoorDash is getting into the merchant cash advance business. Here’s the fine print https://greatmumadventure.com/doordash-is-getting-into-the-merchant-cash-advance-business-heres-the-fine-print/ Tue, 22 Feb 2022 18:30:14 +0000 https://greatmumadventure.com/doordash-is-getting-into-the-merchant-cash-advance-business-heres-the-fine-print/ The food delivery industry has exploded since the pandemic began and restaurants closed for indoor dining. While most, if not all, restaurants are open again, many customers are still choosing the safety of their homes for their meals. Whatever your preference as a consumer, restaurants strive to get their food to you in the fastest, […]]]>

The food delivery industry has exploded since the pandemic began and restaurants closed for indoor dining. While most, if not all, restaurants are open again, many customers are still choosing the safety of their homes for their meals. Whatever your preference as a consumer, restaurants strive to get their food to you in the fastest, easiest and safest way possible. Some restaurants already had traditional delivery services or had already partnered with third-party delivery companies such as GrubHub, UberEats or DoorDash to provide this service. Others had to work quickly to use a third party or hire drivers themselves. While there are pros and cons to each method, and many strong opinions as to which is best for small businesses, that’s not what I want to focus on. What’s important is how widely used these third-party delivery services are and why this ubiquity plays a role in the long-term viability of high street businesses.

DoorDash has recently entered the merchant cash advance business. From my cursory research, it appears to be the only third-party delivery service that intrudes into this type of fundraising activity. For the uninitiated, merchant cash advances are a way for small businesses to get cash quickly, as services typically award money to businesses based on their potential future sales. So if the business closes, the financier is out of luck, as these arrangements generally do not require personal collateral guarantees, unless otherwise specified in the contract.

Sounds like a good deal, right? Not enough. I have personally seen how quickly these arrangements can turn into a debt trap that can decimate small businesses.

It is true that at first glance, they do not sound threatening. MCA services advertise that you only have to pay if you sell, with no interest rates and no prepayment penalties.

Here is what actually happens:

The company offers to “advance” you $100,000 and says that in the end, you will owe them $130,000. There is no interest rate but there is a fixed daily or weekly fee which is calculated based on your historical sales (this is why the fee is not advertised but is usually around 8%, 10% or 12%). This is how the financier will be reimbursed. In this case, the business has historically made about $4,200 in sales per day, which means their account would automatically be debited $500 per day. It is expected that it will take you a year to repay the money. Without requiring guarantees or personal guarantees, it would seem that DoorDash – or any other merchant cash provider – is defenseless if you go out of business, but that’s not all.

When calculating these advances as an APR, they can quickly skyrocket to double and triple digits (this one being 76.92%). High costs combined with daily/weekly repayment schedules can create significant cash flow issues for a business. Often, small businesses must soon take out another advance, starting a cycle of debt that is almost impossible to escape. The icing on the cake ? Technically, they’re not loans, so there’s no federal oversight, and there’s no benefit to paying them off early. In fact, if you paid off the above advance in six months versus 12 months, that would be an APR of 153.84%! This is why these companies advertise that there is no penalty for early payment; it benefits them, not the borrower.

I’m afraid small business owners will see the now familiar name of DoorDash and think it’s a viable and secure option. Predatory lenders may go by many names, but the goal is always the same: to benefit the finance company, not the borrower. Of course, the language used to describe merchant cash advances by the finance companies that provide them is always eloquently disguised. Whether it’s the fine print or the allure of “only pay if you sell”, they’re all the same. It is, of course, disappointing to see another company choose profit over struggling small businesses. to witness it, DoorDash reported this month that it generated $1.3 billion in revenue for the fourth quarter of 2021. That was a 34% jump from a year ago.

With that in mind, my only question is before you even accept a cash advance from a merchant: exhaust all other options first and talk to a financial expert. There are often other options available that you may not have heard of before that a qualified business or financial advisor could help you obtain.

DoorDash executives declined to be interviewed by phone for this article and were only willing to answer questions by email. When asked, “If one of your clients takes DoorDash Capital and their business stays at exactly the same volume, what is the rate they can expect to pay based on APR?” Their answer didn’t answer my question: “The average fee is usually less than 11% of the bid amount, but the rate depends on the qualifications of the merchant. It’s a one-time fee of the bid amount It is also important to note that our merchant partners repay the advance as a percentage of sales against a fixed weekly/monthly amount, giving them greater flexibility during periods This line is a typical defense of the merchant cash advance industry.

I just deleted DoorDash from my phone. I’d rather put my lazy rear in the car, get my food, and then support a business that chooses to play the merchant cash advance game.

The opinions expressed here by Inc.com columnists are their own, not those of Inc.com.

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DoorDash now offers cash advances to restaurants https://greatmumadventure.com/doordash-now-offers-cash-advances-to-restaurants/ Thu, 17 Feb 2022 20:07:24 +0000 https://greatmumadventure.com/doordash-now-offers-cash-advances-to-restaurants/ DoorDash is partnering with fintech company Parafin to launch DoorDash Capital, which will provide restaurants with convenient access to capital. The company leverages its visibility and control over restaurant delivery revenue to offer cash advances on future business on the DoorDash platform. Eligibility for the service depends on an opaque measure of the size and […]]]>

DoorDash is partnering with fintech company Parafin to launch DoorDash Capital, which will provide restaurants with convenient access to capital. The company leverages its visibility and control over restaurant delivery revenue to offer cash advances on future business on the DoorDash platform.

Eligibility for the service depends on an opaque measure of the size and stability of a restaurant’s business on DoorDash. The size of their lead is set in the same way. “Each merchant is approved up to a specific amount for each cash advance based on their sustained sales on our platform,” said DoorDash chief revenue officer Tom Pickett.

Operators can check their eligibility in the merchant portal. If there is an offer, they can accept up to that amount and receive the money in as little as one to two business days.

Reimbursement is performance-based. DoorDash will automatically deduct a portion of a restaurant’s sales made on the platform. Merchants can customize repayment terms, including advanced amount, repayment term, and repayment percentage.

DoorDash Capital charges a one-time fee to access capital, apply capital, and repay during the advance. DoorDash Capital does not charge interest, according to the company’s website.

Set by Parafin, the fee “is generally less than 11% of the bid amount, although the rate depends on each trader’s qualification,” Pickett said. An example on the company’s website shows an 18% fee.

More than 1,000 merchants participated in DoorDash Capital’s pilot program, according to a blog post. A company spokesperson said these merchants used the funds “for many business-related expenses, including payroll, marketing, purchasing equipment, opening or expanding to new locations and more”.

“Small business restaurants have always had difficulty obtaining loans and often do not know where to turn for quick and fair financial support, as traditional banks have long application processes and often impose strict requirements in credit and business history to get a loan,” Picket said. The company cited Federal Reserve Bank research showing that only 35% of small businesses (income between $100,000 and $1,000,000) received bank financing in the past five years.

While convenient access to capital is a good thing, DoorDash Capital is likely designed to complement broader business operations. On the one hand, more successful partners mean more delivery business. And by tying capital to business conducted on the DoorDash platform, it incentivizes restaurants to prioritize DoorDash business over other third-party providers, such as Uber Eats and Grubhub.

DoorDash Capital is only available in the United States and the company has no plans to expand the service, Pickett said. “We are working to provide these partners with the best possible experience at this time,” he said.

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