Commersense Provides Working Capital for the Hospitality Industry

TAMPA, Fla., Dec. 6, 2011 /PRNewswire/ -- Florida-based merchant services company, Commersense, is providing the North American hospitality industry with working capital as banks increasingly deny small business loans to establishments with minimal collateral or less than perfect credit.

"We (Commersense) introduced merchant cash advance services several months ago, and it's really been the hospitality industry that has taken advantage of securing working capital.  For a restaurant in need of a large inventory purchase or other items that may not have immediate return on investment, a merchant cash advance allows them to quickly purchase the items they need to serve their customers," states Chris Kille, President of Commersense. 

Restaurant owners rely on quick access to working capital in order to respond to the ever-changing demand of consumers. Instant access to working capital enables restaurants to invest in new equipment, remodel, expand, buy volume discounts from suppliers, invest in marketing or pay their lease and employees during slow periods.

Kille added, "The service sector in general, survives on agility. Restaurants need to adapt at the drop of a dime to satisfy their customers, and unfortunately, banks aren't always willing to provide them with the capital to do so."

In comparison to small business loans, merchant cash advances (MCAs) have higher approval rates and are typically processed much faster. For restaurants, the MCA is a great alternative because it does not put personal assets at risk; there is no collateral required. MCAs are not bound by the laws that regulate lenders and limit interest rates because the deal is a purchase and sale of future income. Instead of requiring scheduled fixed payments, a MCA provider such as Commersense directly collects a set percentage of a merchant's daily credit card sales.  

Commersense's Merchant Cash Advance Advantage Program offers a 90% approval rate on applications, and can advance businesses up to $1,000,000 depending on the businesses' credit card sales.

For more information, visit www.csmerchantservice.com. A Commersense representative can be contacted by calling (813) 489-8501 or by emailing [email protected].

About Commersense:
Commersense is a full service business solutions provider offering merchant cash advances, merchant processing, credit card equipment sales and leasing, payroll and employee benefits. Commersense assists clients in finding the best rates for processing payment transactions and offers efficient solutions for credit and debit transactions, online transactions, check processing, payroll services and mobile-based transactions.

SOURCE Commersense

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