About 10 years ago, the bank loan was one of the only methods of business financing that small business owners used. Then, credit card advance companies developed, providing alternative funding methods to the fraction of small business owners that did not qualify for small business loans. Now, as bank-lending standards have tightened significantly, many more small business owners have found credit card advances to be very useful. Now, the credit card advance industry provides over $700 million dollars to small business owners every year.
Credit card advance lenders have evolved greatly, making available a variety of business funding programs and offering incentives to merchants with good to excellent credit scores and higher monthly credit card sales.
Today, small business owners in each of the 50 United States and in Canada can qualify for credit card advances of up to $500,000.