CORONA RELIEF PROGRAM
Where are the Big Banks???
We are living in historic times where the world community is experiencing unprecedented challenges on many levels due to Coronavirus. The health crisis has precipitated massive global disruptions in economic activity, drastically harming businesses and individuals. The spreading panic has caused a virtual freeze on all financial platforms. Lines of credit are being reassessed, banks are closing and access to survival capital is being cut off. Small businesses are the core of the US economy, yet during these times desperate business owners are left without options for lifelines.
For the past decade, particularly since the recession of 2008 the merchant cash advance industry has been at the forefront of alternative financing for small businesses. In times where the big banks have deemed small businesses as unfit for loans the MCA industry has stepped up to fill the void. Big banks took advantage of businesses, homeowners and the financial markets by providing un-affordable loans, packaging these loans, insuring them and re-insuring them, and selling these toxic assets to financial markets, ultimately crashing the economy. After the crash, they were granted TARP funding from the government, yet they continued to avoid lending to small businesses. Bloomberg Business, which has been skeptical of and outright hostile to the merchant cash advance industry, has even stated that merchant cash advance providers were the first ones in the post-2008 market cycle to fund small businesses. Forbes has recommended merchant cash advances as helpful options for small businesses in this market. The traditional banks and new online payment processors and lenders have taken notice and entered the alternative space, including JP Morgan Chase, Amazon, Amex, Square and others…yet as the risk level has risen with the current market conditions, lending has been reduced to a trickle. The Big Banks are once again nowhere to be found when small businesses need the most!
In recent years, our company, PREMIUM MERCHANT FUNDING, has grown to be one of the nation's largest alternative financing brokers and funders. Our mission is to guide small business owners to sources of growth capital and provide funding, even when risk levels are elevated, and the economy is unstable. PMF is opening a new Corona relief Program to assist viable small businesses with immediate survival capital to stave off business closures, bankruptcy, evictions and other adverse consequences of the current global turmoil. If your business is operating, even at drastically reduced levels, apply now for a cash infusion and together we will overcome these challenges and rise from the ashes of Corona stronger and more resilient than ever before.