Last updated on April 18, 2014 at 1:21 EDT

Swift Capital Launches New Website With Merchant Cash Advance Rates

March 12, 2012

WILMINGTON, Del., March 12, 2012 /PRNewswire-iReach/ — Standing up against an industry (merchant cash advance) full of questionable business practices, hidden terms, and fuzzy pricing, Swift Capital has now changed the game. Swift Capital announced today that it will publish its rate table online, allowing small business owners to know exactly where they stand. In a typical Merchant Cash Advance transaction, the business owner is required to submit a completed application and send in several months of credit card and banking statements before terms and pricing are disclosed. This is by design, allowing the merchant cash advance provider time to “size up” the applicant to determine how price sensitive they are. This murky practice seemed unfair to Swift Capital.

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Responding to customer requests and an obvious need in the market, Swift has launched a website with its rates published directly on the home page. Additionally, the website allows business owners to instantly determine whether they are likely to qualify for an advance. “Not only are our rates half that of other Merchant Cash Advance providers, but we are the first to place them front and center on our website” said Ed Harycki, founder and CEO of Swift Capital. “In the same way that you can shop for mortgage or credit card rates, Swift Capital has now published its market-leading cash advance rates so that businesses can shop for the best price for funding,” continued Harycki.

Not only is Swift changing the Merchant Cash Advance game by publishing rates prior to application, they offer an instant qualification tab on the new website. This way potential client can determine if they qualify for a Merchant Cash Advance or Business Cash Advance PRIOR to submitting any documentation. In a world where obtaining a traditional small business loan is getting more and more difficult, Swift Capital has set the trend in the alternative small business funding industry. Competitors will no longer be able to hide behind nondisclosure with Swift’s new website. As the merchant cash advance industry approaches $1 billion in annual funding, transparency is a huge step in the right direction.

To view this video on YouTube, please visit: http://youtu.be/6SEa9sZUao0

Media Contact: Ed Harycki Swift Capital, 302-374-7001, ed.harycki@swiftcapital.com

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SOURCE Swift Capital

Source: PR Newswire