NEW YORK--(BUSINESS WIRE)--Ten years ago, Stephen Sheinbaum decided to create a company that would empower small businesses across the United States by providing access to capital, enabling growth and job creation. Today, Merchant Cash and Capital, LLC (MCC) along with its family of companies, announced that it has originated over $1 billion for America’s small businesses. Throughout its 10 year history, MCC has helped more than 20,000 companies nationwide.
“After the financial crisis began in 2008, commercial banks stopped lending to small businesses. Even solid credit risks such as successful restaurants, doctors and franchisees have been shut out from accessing growth capital. A decade ago, MCC was founded on the principle that America’s small businesses should be able to access funding of any size to support business growth. Now, as we celebrate 10 years in business, we are proud to say that we have helped tens of thousands of businesses in a variety of sectors get the funds they need to capitalize on good times, survive the tough ones, and provide services to their local communities,” said Stephen Sheinbaum, Founder of Merchant Cash and Capital.
Alternative funding has been provided to restauranteurs, physicians, franchise owners, retailers and many others. Furthermore, MCC can point to the average funded amount of approximately $40,000 as a testament to its commitment to helping small businesses. The typical SBA 7(a) loan averages more than $330,000 which is often out of reach or unneeded by small, growing businesses. The average company that accesses MCC for capital tends to have monthly gross revenues of approximately $75,000.
Sheinbaum continued, “2014 was a record year for MCC as demand for our funding products doubled year-over-year and we project that 2015 will be even stronger. This is proof that the economy is growing and that small businesses want to take advantage of this momentum and invest. Additionally, as our technology has improved and funding times have reduced, businesses have come to rely on MCC for rapid service, with approval periods that are a fraction of the time it would take for a traditional small business loan to be approved.”
About Merchant Cash and Capital
Merchant Cash and Capital, LLC (MCC) combines technology and unmatched customer service to provide funding for businesses around the country. With its ASAP (Automated Submission and Pre-Approval System) technology, MCC enables businesses to instantly secure funding pre-approvals - a process that once took hours, now takes minutes. MCC has originated $1 billion to over 20,000 businesses. See how much you qualify for by visiting us at www.merchantcashandcapital.com.