C
collings
- Original Poster
- #1
Hello,
Has anyone had any dealings with an advance merchant loan. I have come across this and it seems too good to be true, which it often is but i would like to hear anyones views.
Basically, for those who dont know what it is. You get a loan from someone offering a merchant advance and they take a percentage from your future credit card sales. This is done directly so no late payments. If you have a slow month this does not matter but the loan will take longer to pay back.
I've tried my bank and although my store is profiting, i want to boost it. Pretty hard as a sole trader.
Chris
Has anyone had any dealings with an advance merchant loan. I have come across this and it seems too good to be true, which it often is but i would like to hear anyones views.
Basically, for those who dont know what it is. You get a loan from someone offering a merchant advance and they take a percentage from your future credit card sales. This is done directly so no late payments. If you have a slow month this does not matter but the loan will take longer to pay back.
I've tried my bank and although my store is profiting, i want to boost it. Pretty hard as a sole trader.
Chris
