AdvanceMe ?????

zoso

Have you guys heard of this outfit?? They front money based on future merch credit card trans.

I could use a boost, but this sounds fishy.

slickshift

No
But I think you've been around long enough to post a link (so we can check it out) w/o being called a spammer

Front money based on future CC trans?
I'm no finance wiz (ha ha ha ha ha...that's for sure), but yeah it sounds like it's a bit of the whiff of an oceanic creature of some sort

These are not really contractor specific, but I found them interesting
Bootstrapping:
http://www.entrepreneur.com/article/...323722,00.html
How to raise money for your business:
http://www.entrepreneur.com/howto/ra...,5964,,00.html

Glasshousebltr

Zoso, I think I might know you, is your first name Bo?

Just a kiddin.

Bob

__________________
Bob

slickshift

I assumed ( perhaps incorrectly) it was a LedZep ref

OT: How come when listening to LedZep contemporaries, I get a nice nostalgic feeling, while when listening to LedZep, they still sound fresh?

zoso

Here is the link. www.advanceme.com

Yep, they were so good they still out sell most of the popular bands today.

Close seconds for timelessness would be Floyd and Sabbath.

slickshift

Interesting concept
I haven't run across this before
So if you can "Demonstrate a minimum monthly credit card volume of $1,700.00" they'll loan you some dough, and they accept a cut of every CC transaction as payment

I didn't find out how much the money actually costs, maybe I didn't look hard enough

It would seem that a business like a restaurant or retail store might use something like that
The failure rate is high enough that it's hard to get a loan if you've been in business for 3 years or less, but if you could show a few months of 2K CC receipts....

I've got a bud that owns a restaurant and knows waaaaaaay more about finance than I do, I'll send him the link and ask him to look it over

slickshift

They process your CCs until the loan is paid off
They take 25% off the top of all transactions they process until the loan is paid off
They then deposit the remainder in your acct.
I still couldn't get exact figures on how much the money actually costs you, but apparently it's not cheap
It may be worth considering if you do a lot of CCs and can't get a traditional loan