As Cory Elliott’s construction company boomed, her financial obligation woes started. She was indeed refused by 10 banking institutions for funding to expand her St. Louis construction company, and a economic consultant she hired advised a popular alternative: a vendor advance loan.
Half a year later on, she ended up being spending over $14,000 a to service debt of $130,000 for two cash advances month. This sounds like payday loans for small businesses, as some critics have called merchant cash advances, you’d be on the right track if you’re thinking. Continue reading