Convenience Capital™ is the Premier Solution for Your Merchant Cash Advance Needs
It’s the biggest challenge of the new economy: no matter your record of business success, it’s almost impossible to get a bank loan these days.
As the Wall Street Journal noted in May, businesses sought more loans in the first quarter of 2011, but banks are still skittish. The solution for many small- and mid-sized businesses, then, is Convenience Capital™ – the centerpiece of Express Working Capital’s cash-advance program. As its name suggests, Convenience Capital™ is a simple, expedient way for businesses to access money now by leveraging their future credit sales.
EWC is where the concept of Convenience Capital™ was born, and its clients are its success stories. Convenience Capital™ was the solution for Dean McSherry, President and CEO of Preferred Restaurant Services, which provides an array of services to high-end eateries around the country. “Recently we had an opportunity to purchase a premier catering company here in Dallas,” McSherry says. “The deal came up and was going to happen very quickly. I needed to work with someone who understood, and understood how my project was being structured. Express Working Capital understood the structure and brought the deal together for me.”
As you’d expect with Convenience Capital™, the process by which the money is advanced and repaid is very simple, making it the perfect solution for most cash needs:
- Businesses sell EWC a portion of their future credit card sales at a discount in exchange for a lump sum of working capital today.
- As the business realizes its future credit card sales, the credit card processor automatically sends EWC a fixed, pre-determined percentage from each credit card sale when it is settled daily.
- Collection stops automatically when the full amount of future credit card sales purchased by EWC has been retrieved.
“It really is a perfect solution for those who need a merchant cash advance,” says Brad Woy, President and CEO of Express Working Capital. “Because our Merchant Cash Advance program is not a loan. There are no fixed payments or maturity dates associated with the repayment of the advance. We become partners in our client’s success, and that’s why more than 85 percent of them use us for future cash advance needs.”
If you’d like more details on the EWC Convenience Capital™ program, begin the process of acquiring your Merchant Cash Advance by going here.
Our Free, No Obligation Quote will get you started, and let you know exactly how our cash advance program will work for you and your business.
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