BROOKLYN, NY--(Marketwired - Feb 5, 2014) - Microloans have been a godsend for many small-business owners weathering the recent recession. As the recovery gains momentum, merchant cash-advance lenders are taking off as well.
The merchant cash-advance industry is worth $500 to $700 million dollars a year as of mid-2013. Over the next several years, that figure is expected to skyrocket to $3 to $5 billion a year -- clearly, merchant cash-advance lenders are filling a need for small businesses that have been repeatedly turned down by traditional banks.
Advanced Funds Network (AFN) is among those stepping up to the plate for America's small businesses -- and they're funding loans that should make traditional banks take notice. Last month, AFN funded an unheard-of million-dollar cash advance for a carpet company in Texas.
The Texas carpet company, which specializes in carpet installation in Dallas, Austin and Houston, plans to use the cash advance to expand their business and better serve their current market. The company also plans for a year of significant expansion that will make them the largest carpet installation firm in Texas.
AFN hopes this milestone loan will encourage more small businesses to take advantage of their fast, convenient small-business loans, unsecured credit lines and merchant cash advances. The merchant lender specializes in credit products for small businesses that need loans smaller than traditional banks will give or that don't meet traditional lenders' rigid criteria for loan candidates.
Small-business owners who are strapped for funds often don't need much to keep the wolf from the door -- just enough to fund payroll during a lean month or to pick up some new equipment. AFN meets that need with loans, business cash advances and unsecured credit lines from $2,500 to $3,000,000.
AFN is known for its customer service and quick funding for most applicants. Eighty-five percent of applicants are approved and funded in five to seven business days. Businesses that don't accept credit cards are welcome, and there are no upfront fees. AFN now offers business loans in all 50 states.
If you're looking for a financing solution for your small business, contact Advance Funds Network at 888-772-7755.
About Advance Funds Network
Advance Funds Network (AFN) is one of the easiest ways to obtain financing for your business. Since 2007, AFN has established itself as a leader in the small-to-medium-sized business marketplace. AFN provides your business with several funding options until it finds the one that works best for you. AFN doesn't charge any upfront fees. The process is simple, and the lender's goal is even simpler: Approve your business for financing.