Merchant cash advances are utilized by small businesses and entrepreneurs to fill short-term working capital needs when traditional bank loans and SBA financing are either not available or not practical (from a timing perspective).
Under a new program to be managed jointly by Vion and SFS on the proprietary SFS platform, merchant cash advances will be offered to middle-market businesses in need of $400,000 up to $3m or more in short-term working capital financing.
Vion executive managing director Barbara Anderson said this agreement combines the resources and receivables management expertise of Vion with the industry leadership position in merchant cash advances of SFS.
"Our capital position and unique skill set enables us offer creative short-term working capital solutions for merchants in unusual circumstances. While banks and commercial finance companies are still hesitant to provide loans to middle market companies for growth, renovation, or acquisition, Vion and SFS are willing to provide an alternative funding solution and do it quickly and efficiently," Anderson said.
