Day: March 10, 2016

Major Cities Cite “Denied Bank Loan “ and “Taxes” as Reason for Cash Advance.rn

rnrn

rnMerchant Cash USA, an alternative finance business lender, surveyed individuals across 25 major cities to see what the top reasons were to get a cash advance. Denied a bank loan, needed the money for tax purposes, and for cash flow issues were top purposes cited.rnrn(PRWEB) MARCH 01, 2016rnSurvey Says Small Business Owners in Major Cities are Optimistic and Looking for Cash Flow.rnA recent survey by Allstate Insurance Company revealed that now is the time to own a small business. The Allstate Small Business Barometer measured results of 2,640 small business owners across 25 major U.S. cities to see how small businesses felt they were doing.rnrnOn a national level, 61 percent of small business owners felt successful, while across major cities, most cities rated their business health as “strong” or “solid” in their respective markets. 53 percent of those surveyed stated that now is the best time to be a small business owner, due to expansive technology leading to more clientele and the improving economy.rnrnThat survey by Allstate prompted Merchant Cash USA to survey small business owners throughout those same 25 major cities, to see if they had ever considered going the alternative financing route (if they hadn’t already), and to see what the top reasons to turn to an alternative lender would be. Merchant Cash USA surveyed 1,847 small business owners throughout U.S. cities through a third-party email and social media campaign.rnrnThe results of the survey are listed below. Cities are listed in alphabetical order. Each city’s most popular survey response on “Top Reason to Get a Cash Advance” is adjacent.rnrnMajor Cities and Reasons to Get a Cash Advance (Survey Results of 1,847 respondents)rnrn1. Atlanta – Denied Bank Loan rn2. Boston – Renovation rn3. Chicago – Taxes rn4. Cincinnati – Denied Bank Loan rn5. Cleveland – Cash Flow rn6. Dallas – Equipment rn7. Denver – Inventory rn8. Detroit – Renovation rn9. Houston – Denied Bank Loan rn10. Indianapolis – Advertising rn11. Los Angeles – Denied Bank Loan rn12. Miami – Opening New Locations rn13. Minneapolis – Taxes rn14. Nashville – Cash Flow rn15. New York – Denied Bank Loan rn16. Orlando – Inventory rn17. Philadelphia – Equipment rn18. Phoenix – Advertising rn19. Portland – Hiring Personnel rn20. Sacramento – Taxes rn21. San Francisco – Taxes rn22. Seattle – Renovation rn23. St. Louis – Cash Flow rn24. Tampa – Cash Flow rn25. Washington, DC – Denied Bank LoanrnrnThe top three reasons to get a cash advance were: denied a bank loan, needed the money for tax purposes, and for cash flow issues. Small business owners in Atlanta, Cincinnati, Houston, Los Angeles, New York, and Washington, DC cited that they were denied a traditional bank loan, and that’s why alternative financing seemed like a feasible opportunity to get a lump sum of cash.rnrnAlternative financing is quickly becoming one of the top ways small business owners get funding. Today, most traditional banks won’t even consider giving out a business loan that is less than $200,000. This leaves many business owners, who are looking for a smaller amount of cash, out of luck. Merchant cash advances are quickly becoming one of the top ways business owners can get lower amounts of fast capital to help expand their business or in case of a business emergency.rnrn“It’s great to hear that these major 25 cities are optimistic about the business strength of small business in America,” says the Chief Communications Officer of Merchant Cash USA Darrin Landau. “Many business owners turn to a cash advance for a variety of reasons. If they live in a state that has higher taxes, that could be an indicator. While not surprisingly, most major cities note that they were denied a tradition bank loan. Getting a bank loan after the recession in 2008, has been anything but easy for business owners."rnrnAbout Merchant Cash USA rnMerchant Cash USA was founded in 2015 to help businesses grow by obtaining the cash flow they need. The organization's mission is to offer small to medium size business owners cash advances without the hassle of big bank requirements. Visit merchcash.com to find out more of follow us on social media. Facebook and Google Plus: Merchant Cash USA and Twitter: @merchcash.