Tom says I don’t love small business people.
If I did, I wouldn’t be so hard on Merchant Cash Advance he claims.
You see, I made a video 3 years ago about how small businesses with credit card terminals could effectively sell a portion of their future cash flows to get money today.
I said that this was a very expensive way to finance a business and that people need to be fully informed about the actual costs.
Tom thinks that I got my numbers wrong and that we should be rejoicing that this financing option exists in light of apathy and searing hatred on the part of big evil banks.
I made a new video where I explain how expensive merchant cash advance can really be and the difference between APR and ‘payback.’ Payback is a new financial term created by this industry to try to confuse unsophisticated small business owners.
Check it out here: https://youtu.be/kCLS09fXUE4
Learn how to buy a business successfully with my Business Buyer Advantage Program. You can access the course at www.BusinessBuyerAdvantage.com and learn more about how it works from this video I made a few weeks ago: https://youtu.be/ooixMSaFf6Y
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Learn how to better manage your small business with my easy method of organizing yourself. Learn more at www.EasySmallBizSystems.com
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This summer & fall I’ll be in St. John’s, Halifax (www.ceed.ca), Moncton, NYC, Orlando & Toronto. Find out more and sign up at http://davidbarnett.eventbrite.com
Thank you and I’ll see you next time.