Business Cash Advance.com Sees Tax Debts for Small Businesses as Leading Driver for Merchant Cash Advances During Credit Crunch.CORAL SPRINGS Coral Springs, city (1990 pop. 79,443), Broward co., SE Fla.; inc. 1963. Largely residential, it is a city that has grown rapidly along with the southern Florida and Fort Lauderdale area. The population of Coral Springs nearly doubled between 1980 and 1990. , Fla. -- Business Cash Advance.com, a major provider of merchant cash advances to small businesses that are unable to secure capital from banks or credit cards, is reporting that many of its current clients are securing advances to pay their business and payroll taxes Payroll Tax Tax an employer withholds and/or pays on behalf of their employees based on the wage or salary of the employee. In most countries, including the U.S., both state and federal authorities collect some form of payroll tax. , which must be mailed by Monday, Mar. 16. Merchant cash advances enable small businesses to secure capital in exchange for a small percentage of their future credit card receivables. As major banks refuse to finance creditworthy cred·it·wor·thy adj. Having an acceptable credit rating. cred  it·wor businesses in today's
lending environment, these cash advances are becoming an important
financial option. The business tax season is historically one of the
busiest for merchant cash advances.
"For small businesses that are finding it increasingly difficult to secure capital and lines of credit from traditional funding sources such as banks and credit cards, business cash advances provide an important and effective option," said Martin Mosley, the VP of marketing for Business Cash Advance.com. "The tightening of credit is affecting the ability of some small-business owners to pay their taxes, and we are helping many of these individuals to stay current with the IRS An abbreviation for the Internal Revenue Service, a federal agency charged with the responsibility of administering and enforcing internal revenue laws. and avoid liens, penalties or interest." Business Cash Advance.com pays directly to the IRS on behalf of businesses and creates an automated system to retain a small percentage of credit card receivables until the advance is fully reimbursed. The company offers quick approvals, fast funding and no up-front fees or closing costs Closing Costs The numerous expenses (over and above the price of the property) that buyers and sellers normally incur to complete a real estate transaction. Costs incurred include loan origination fee, discount points, appraisal fee, title search, title insurance, survey, taxes, to businesses that qualify based on simple criteria, which includes that the business must be at least one-year old, accepts credit cards and processes a minimum of $4,000/month. Business cash advances are particularly useful for locations with high transaction volumes focusing on products/services that are rendered on site at the time of the charge. Restaurants, liquor liquor /li·quor/ (lik´er) (li´kwor) pl. liquors, liquo´res [L.] 1. a liquid, especially an aqueous solution containing a medicinal substance. 2. stores, fast-food outlets, parts companies, retail shops, dentists, florists, salons, veterinarians Veterinarians and veterinary surgeons (vets) are medical professionals who operate exclusively on animals. Well-known and notable veterinarians include:
Business Cash Advance.com traces its roots to an online business directory company, 4smallbusiness.com, which was originally founded in 1997. The company has a staff of more than 60 sales, marketing, customer service and underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. professionals operating from its headquarters in Coral Springs, Fla. More information is available at www.businesscashadvance.com or by calling 866-411-0606. |
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