Maximize Your Credit Card Services with Small Business Loans
Since June 15, 2009, the United States Small Business Administration has been processing deferred payment small business loans of as much as $35,000 to be given out to 10,000 small businesses. This is covered by the SBA’s America’s Recovery Capital (ARC) Loan Program.
To qualify, companies should be private enterprises that are for-profit. They should have up to five hundred employees only and should be at least two years old. Furthermore, they should be able to prove financial need with a twenty percent decrease in sales, revenue or working capital. On the other hand, they should be able to prove that one of their two years in business has been profitable, and that with the infusion of cash they will be able to meet their existing and future debt obligations. This means positive cash flow projections. The ARC small business loans are intended to be used to pay outstanding debt such as payables to vendors.
For this batch of small business loans, there are no fees or costs involved, except if the borrower defaults on the loan later. In that case the SBA-approved lender can charge costs for securing and liquidating collateral.
The ARC small business loans also do not charge interest. Actually, the SBA pays the interest for the borrowers. Disbursement of the loan can take as much as six months but payment of the principal is also deferred for the next 12 months. After that, the borrower has five years to repay the loan principal.
Each small business can only avail of one ARC loan. SBA-approved lenders will offer the loans until September 30, 2010 or until available funds run out, whichever comes first.
There are, however, an estimated 30 million small businesses in the United States and only 10,000 of them can avail of the government’s small business loans. What if you do not happen to be among the 10,000 lucky recipients? How will your small business survive?
There are even doubts being raised on whether as much as 10,000 businesses can indeed avail of the ARC loans. There are fears that there may not be enough lenders willing or able to participate in the program. Lenders will have to advance the full amount of the loan, will not receive payment on principal for a full year, and will not be able to charge any fees, thereby absorbing all administrative costs. This may be too steep for many lenders. They may not be able to afford to participate at all.
This is where you as a small business owner can and should maximize your credit card services. We are not talking about your personal credit card services here. Instead, we are referring to the merchant services that enable your small business to receive credit card and debit card payments. Surely, any business these days avails of these types of credit card services. After all, more people pay by credit card or debit card rather than cash.
Most credit card services offer small business cash advances that can be as substantial as small business loans. These small business loans do not require any collateral because they are secured by your company’s future credit card receivables. This is even more convenient for your business because repayment is also built into those receivables. Credit card services automatically deduct a percentage from your income to go toward loan repayment. For as long as you have incoming sales, you can support your loan. Interest rates are often quite affordable considering how the loan can help your business.
Small businesses should therefore look into maximizing these credit card services for small business loans. The survival of your business could hinge on this.
Watch the video related to credit card services
Debt Counseling™ Today & Learn How To Manage Your Debt * www.debtconsolidationcare.com * trinidad dating online * No credit card required; email local singles for free. * www.SinglesNet.com * Get Out Of Credit Card Debt * Lower Your Monthly Payments! Reduce Your Debt By Up To 50% Now * USADebtHelp.org * Credit Card Debt Consolidation Services * Compare leading credit card debt consolidation services. * thecreditcarddebtconsolidation.com … inception “inception trailer” “inception movie” ” …
Help answer the question about credit card services
Chase Credit Card Services lost my information?What should I do? I recieved a letter from Chase stating that they lost a disc containing personal info about me including social sec#, DOB, address & etc. I called and spoke with the manager who only offered my a year of free credit monitoring and apologies. Does this seem right, should I have been offered more?
February 2nd, 2009 at 11:35 am
I would rather write a check. This way, I will have a good prove backed by the bank that I did make a payment for the services.
I would find it highly suspicious if a payment needs to be made in cash. Usually, contractors who cheat on the income taxes do that. I would rather not give my credit card number. The reason for that, I am not sure at all how privately the contractor will store this information, and if it will be easily accessible by others.
Personal check would be the best way for me to pay.
February 2nd, 2009 at 11:59 am
I worked there for about 3 months in 1999. Like the other person said the pay is decent, but I left because I wanted better hours and not have to work every other weekend. If you don't mind people calling to yell and cuss you out about their bill statement, then you will do just fine!
February 2nd, 2009 at 12:38 pm
check out propay.com I use them faithfully and have never had a problem with there service or the fees. The annual membership amount depends upon the amount of processing you think you are going to do. You also have the choice of transferring your money to your checking account or a debit card.
February 2nd, 2009 at 12:32 pm
credit card debt and national debt are pointless…..just a system of endless debt that profits the “global elite” bankers….RON PAUL 2012…HR 1207
February 3rd, 2009 at 3:43 pm
It depends whether your bank has closed shop completely, or they closed shop and sold your account to another bank.
If they closed shop, then they might be declaring bankruptcy. I don't think you'd be impacted.
If they sold your account, then the other bank has the right to collect on the money that you owe.
Either way, it's simply like this: as long as you have a balance on your [credit card] account, you WILL be charged interest.
February 4th, 2009 at 8:21 am
Yes, anywhere Visa is accepted.
February 4th, 2009 at 6:56 pm
No.
February 5th, 2009 at 2:18 am
find and contact a korean business group and ask them
February 5th, 2009 at 2:37 pm
You can still try the following:
1. Have the customers pay by check or Money Order. If you want you can ship the goods after you receive the payment. Make it known to the customer upfront how this works.
2. You can always get paid upfront like a monthly fee (if that suits your business) by check and then let them use the service or whatever you offer for a full month, then you expect your check again, every month.
3. You can offer free service and get paid by Advertisers, by check or money order.
Hope that helps.
February 5th, 2009 at 8:08 pm
I found a huge online list of Ohio credit card resources. http://www.howtofindcreditcard.com/Ohio-Credit-Cards.html Try calling a local company and they hopefully answer your questions.