Credit Card Factoring For Entrepreneurs

Mompreneur - it’s one of the most frequently used hybrids words today. Why? Because moms all over the country are dispelling the myth that mothers can’t be entrepreneurs and starting healthy and successful businesses left and right.

According to “The Shared Characteristics of Entrepreneurs,” written by George Howard, many entrepreneurs desire responsibility, are oriented towards futures, have the ability to organize, value achievement over money and are committed and tenacious. It is my opinion that many of these same qualities keep mothers going from day to day. With such similarities, it is no surprise that so many mothers are venturing out to start their own businesses.

Even with an increase in occurrences of Entrepreneurs, these women still face various challenges. Not only do Entrepreneurs have to prove themselves, in a field dominated by men while simultaneously raising happy and healthy children, they also have to deal with a decrease in the availability of bank business loans. “Raising business finance isn’t always easy, and especially so when you’ve not got enough assets to secure against your ambitious plans,” (Mompreneur Magazine).

Credit card factoring is a business financing method that allows Entrepreneurs to bypass the bank and use their own businesses’ monthly credit card sales to get business cash, no collateral required.

Requirements

• Merchant has owned business for at least six months
• Business processes a minimum of $2,500 in monthly credit card sales
• Merchant does not have unresolved bankruptcies
• Business has at least one year remaining on lease

What You’ll Need

• Completed two-page application
• Four months of merchant statements (the most recent four months)
• Copy of business lease
• Voided business check

Small business owners can get started by obtaining a free credit card factoring quote. Then, they can complete an online application and soon, have up to $500,000 in business funds in their bank accounts.