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PRZOOM - /newswire/ -
Woodland Hills, CA, United States, 2010/10/12 - Paramount Merchant Funding has an improved website designed to make it easier for prospective borrowers to inquire about the process of obtaining a business cash advance.
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New York City based Paramount Merchant Funding this morning rolled out their new website, a new and improved version which was designed to make it easier for prospective borrowers to inquire about the process of obtaining a business cash advance. Credit score is not one of the factors they look at and the application process has also been streamlined, enabling applicants to complete the entire application in just a few minutes, with approval for merchant funding coming in under seventy-two hours.
“Our goal with this new website was to make it as easy as possible for business owners to apply for business cash funding through our service,” said a company spokesperson. “At Paramount Merchant Funding we only concern ourselves with existing credit card sales when we determine if someone is eligible for a merchant cash advance. We don’t have a long, drawn-out application or approval process and we wanted our website to make that as clear as possible. With this new site, you can now visit, have all your questions answered, apply in minutes, and be approved in under seventy-two hours.”
Paramount Merchant Funding, unlike banks and lending institutions, does not use credit score or credit rating as factors in their approval process. They calculate credit card sales for the months previous to the cash advance request, then approve an advance up to $250,000 based on future projections for credit card sales in the future. They essentially purchase the credit card sales for a period of time and take payments for the cash advance out as a percentage of the overall monthly credit card income.
“Our system is different from the one that business owners have become accustomed to,” said our company spokesperson. “It’s right on time, too. While banks and lending institutions are tightening their belts and becoming stingy when it comes to giving out loans and credit lines, we are able to approve even those business owners who have poor credit. We know that most folks put their all into their business and that results in lower credit scores. Instead of penalizing them for that and refusing them when they need help the most, we look at the credit card income and base our cash advance numbers on those.”
Paramount Merchant Funding (paramountmerchantfunding.com) is a New York City company that has seen the decline and devastation of small businesses in one of the largest cities on earth. Their model for approving cash advances is one that was created to meet a demand and address a problem. The demand is for additional funding to survive or expand. The problem is the inability or unwillingness of the banks to provide that funding. Using credit card sales as criteria for cash advance approval, they have eliminated the need for good personal credit, made late fees a thing of the past because payments are taken directly from future credit card sales, and streamlined the approval process down to seventy-two hours. More information can be found on their website.
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info[.]paramountmerchantfunding.com 
