FastUpFront Becoming a Lifeline for Small Business Financing

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Clifton, New Jersey (PRESS RELEASE – June 29, 2009) – The banks were bailed out, the stimulus plan was put into action, but small businesses are still not getting the funding they need to survive and thrive.

“Banks are not giving small businesses financing,” says Rachel Walker, financing expert for FastUpFront [], a leader in the cash advance industry. “Small businesses are being turned away by traditional lenders. Many have even stopped trying to get loans.”

FastUpFront is aiming to change that. “We want to give out $10 million a month,” says Walker. “We’re taking on new borrowers and are committed to growing and financing existing small businesses.”
FastUpFront, a provider of small business financing {], has experienced double digit growth in the past year with an increase of over 20 percent in businesses funded and a 25 percent increase in financing. FastUpFront’s approval rate of new borrowers is over 80 percent – unheard of in an era of increasingly tightening credit.

FastUpFront’s financing comes from a number of different sources and is not based on credit scores or assets. Borrowers with credit card receivables qualify for a loan and payback is tied to revenue. If there’s a slowdown in business, the payback slows down because FastUpFront derives its income from a percentage of the receivables.

“This is a better option in harder times because, with a bank loan, the borrower has to pay back the same amount, no matter what is going on in their business,” says Gary Barzel, manager of Business Development for FastUpFront. “Cash advance is a more workable situation and a more viable option for the economic reality that we’re in now.”

FastUpFront has established itself as a leader in the lending industry. Its mission is to help businesses succeed by offering simple and effective programs for financing while focusing on quality service. The firm’s unsecured cash advance program [] makes borrowing money simple and quick, and cuts out the strict application requirements normally associated with business loans. Their unsecured cash advance works for business on a variety of levels and in ways that make small business loans either unattainable or not suitable due to repayment schedules or credit history.

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Anita Campbell Anita Campbell is the Founder, CEO and Publisher of Small Business Trends and has been following trends in small businesses since 2003. She is the owner of BizSugar, a social media site for small businesses.

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