Small-business owners who need quick access to capital have a burgeoning industry eager to fund them: merchant cash advance providers. The decade-old industry has grown significantly in the past two years, to more than 50 providers, observers say, and the tight credit environment is fueling demand. As interest in their business grows, providers—who charge premiums of 30% or more on the money they advance—are trying to promote industry standards to avoid scrutiny from regulators.
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Online Request for SBDC Counseling
Reputable payday lenders want customers to use payday advances wisely. The service's goal is to be a solution for those who need low-dollar, short-term credit. A payday loan may not be the best choice in every situation. Visit www.checkngo.com for more information.
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