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Swift Capital Launches New Website with Merchant Cash Advance Rates.

Swift Capital is the first provider to publish a rate table for its Merchant Cash Advance and Business Cash Advance Products

WILMINGTON, Del. -- Merchant Cash Advances have been gaining in popularity as banks continue to remain cautious on lending to small businesses, as recently reported in the Wall Street Journal. However, a common complaint about many merchant cash advance providers is not only the high rates they charge, but the complete lack of transparency in pricing and terms. Typically, small business owners are required to send in completed applications, credit card and business checking account statements before any terms are conveyed to the applicant. This is by design, as it offers funding providers an opportunity to size the business up and determine how price sensitive they are before selling the business owner on the value of the money, while trying to downplay the high cost of capital.

Swift Capital, one of the leading providers of working capital to small businesses has now changed the game. In response to increased requests from small business owners, Swift Capital announced today that effective immediately they have made their rates available on the home page of their website. "Not only are our rates half that of other merchant cash advance providers, but we are the first to place them front and center on our website," said Ed Harycki, founder and CEO of Swift Capital. "In the same way that you can shop for mortgage or credit card rates, Swift Capital has now published its market leading cash advance rates so that businesses can shop for the best price for funding," continued Harycki. Swift Capital has also included an instant prequalification tab on its website, so business owners can quickly determine whether they qualify, prior to requiring any documentation. Swift Capital has now set the bar for other business funding providers so that small businesses know exactly where they stand when seeking access to capital. Harycki also noted that, "small businesses need to evaluate merchant cash advance providers carefully, as many charge a variety of fees and require personal guarantees, while charging significantly more for capital." Swift Capital views this transparency as an important step forward for the merchant cash advance industry, as it is approaching $1 billion in annual funding, which should entice many more businesses to explore the benefits of this type of business funding.

Swift Capital provides working capital through its merchant cash advance products at significantly lower pricing than established providers. Merchant cash advances are designed for the unique needs of small businesses that accept credit cards, and are typically used by restaurants, retail stores, hotels and other service providers. A merchant cash advance is an exchange of upfront cash provided to a business in return for the right to receive an agreed upon percentage of future credit and debit card sales. Advances range from $5,000 to $200,000, and can generally be used for any business purpose. "This type of funding product provides a lot of flexibility to small businesses, as repayment is aligned with the day-to-day business revenue, and does not burden the small business owner like traditional loans with fixed monthly payments," continued Mr. Harycki. Swift also provides a business cash advance product for small businesses that don't accept credit cards.

About Swift Capital

Swift Capital is one of the nation's leading providers of working capital solutions to small businesses. Since 2007, Swift Capital has provided over $250 million in working capital through lines of credit and merchant cash advances to over 10,000 businesses in all 50 states. Swift Capital promotes fair and transparent pricing, fast decisions and funding, and there are no collateral or personal guarantee requirements. Swift Capital also supports numerous partnership programs to expand access to business funding. To learn more about Swift Capital's business funding products and get a free, no obligation instant quote call 1-888-923-0007 or visit
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Publication:Business Wire
Article Type:Website overview
Date:Mar 9, 2012
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