Sunday, July 9, 2017

Just how expensive is Merchant Cash Advance Really??- David C Barnett

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:

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Thank you and I’ll see you next time.

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