The Credit Crunch Comes to Main Street

By Barbara Kiviat Friday, Oct. 03, 2008

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"To understand how the credit crunch is hitting American business — and, in turn, you — look no further than the Dog Shop, a pet-supplies and -grooming store in Washington, D.C. This holiday season, owner Jane Huelle will stock only four varieties of Christmas-cookie dog treats instead of the usual six. That's because a month and a half ago she got a letter from her credit-card company saying her line of credit was being docked by thousands of dollars."

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Texas Small Business Owner Feeling Credit Crunch

"Roger Bhatti says he hopes the government's bailout plan will help get the economy back on track. But Bhatti says the proposal should focus on small businesses like his instead of massive Wall Street firms." - AssociatedPress

Small Business Finance - Plan Ahead to Weather the Storm

With the nation watching the last few weeks as our economy weakens and the world's stock markets crash, we all wonder how long it will take for things to recover and get back to normal. It seems that with the new "bailout plan" the treasury department will unfreeze credit allowing businesses to once again borrow money.

Is this really true?
"Lenders are tightening credit to restaurant franchisees in a shift that could make it harder for owners to remodel existing locations and buy new restaurants. Tighter credit could impede plans by restaurant operators to remodel existing stores, install new equipment, open new locations or convert existing company-owned stores to franchised locations, said Sharon Zackfia, a restaurant industry analyst at brokerage William Blair & Co." read full article

We believe that even with these new plans small businesses will still have a difficult time obtaining traditional bank financing. It is important to plan ahead and secure the necessary capital you need to run your business.

Business cash advance - merchant cash advance programs are available to meet your needs. Even if your credit score has been bruised because of recent events... You are still eligible for an advance.

Credit crunch hits small businesses

"If the inability to land a bank loan is preventing you from expanding, you're not alone."

"Around 65% of domestic banks say they have tightened their lending standards for commercial and industrial loans to small firms over the past three months, according to the July 2008 Senior Loan Officer Opinion Survey on Bank Lending Practices, released in August from the Federal Reserve System. That's up sharply from the 50% of banks reporting tighter credit in the April edition of the quarterly survey."
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Small businesses effected by the current credit crunch still have some options to sustain and grow their businesses. A smart alternative to the conventional bank loan is a business cash advance.

What is a business cash advance?

Business cash advance programs provide your business with upfront money against your future credit card sales from your customers. The business cash advance provider will purchase a small percentage of your future credit card sales, until the payback is completed and giving you the cash advance your business needs today.

Learn More About The Business Cash Advance Program