Charlotte, NC (May 27, 2010) David Robb, President and CEO of XBS, unveiled a new traditional type commercial loan product for small businesses in need of working capital for a variety of purposes - without the extensive application process and review required by banks.
"We've been looking for some time now for an alternative solution to merchant cash advances to fulfill a clear need for access to fairly priced capital in the business community. " says Robb.
While cost cutting merchant services and electronic payment solutions remain a focus - XBS continues to move toward viable options for merchants to increase cash flow - including growth through capital.
Robb says that XBS will make loans up to $150,000 and fund use is completely up to the business owner but typical uses include inventory and new equipment purchases, expansion, remodeling or repairs, new hires or just plain working capital.
The initial application is a simple one page document and pre-approval is typical in just 1-2 days, with funds in the bank in as few as 10. Terms are 6-12 months and rates are very competitive. The primary approval factor is based not on credit worthiness but consistent cash flow, vastly different from standard bank lending practices. The application's simplicity allows XBS to waive any application fees for the loan.
"There are countless businesses that cannot meet today's rigid bank lending requirements despite strong track records in managing expenses and paying bills," Robb notes. He describes small growing main street businesses with walk-in customers and a fairly steady cash flow as an excellent candidate for the new loan.
Performance based lending is far different than the traditional merchant cash advance offered by so many payment processors (as well as XBS) - where loan amounts and approval is based on future credit card processing sales and repayment terms are dictated by the merchants actual sales volume - rising and falling relatively. Critics of the cash advance product point to the inflated interest rate it comes with and XBS recommends the product only as a last resort for businesses who must have capital and can't access any of the traditional sources.
Businesses interested in the product should contact XBS directly at 800-347-1090 for more information or visit http://www.xbsglobal.net/services/business-loans/
Charlotte, NC (April 29, 2010) Priority Payments and Area Developer for Priority XBS partner with the Charlotte Checkers to benefit CheckMate charities and Checker business partners and patrons.
Priority will work with the Checkers business patrons to lower their costs for credit and payment processing - and then contribute a portion of their monthly earnings for each account - to Checkmate Charities. The contributions will be made every month, on a recurring basis, for the duration of the relationship at absolutely no additional expense to the business.
The program, titled Project Give Back, was created by Priority to assist Foundations and non-profits across the country develop new and sustainable revenue streams at a time when charitable giving is on the decline. "It creates a direct relationship between a company's traditional business expenses and their charitable giving", says XBS CEO David Robb. The Charlotte Checkers announced the partnership 3 days ago in a press release.
Robb also points to the programs business and community benefits as being uniquely innovative, "designed to improve the overall financial position and monthly cash flow for businesses, with cost effective merchant services provided by payment professionals - at the same time generating sorely needed funds for Charlotte charities."
Priority and XBS offer extensive merchant services including wide-ranging payment options and advanced point-of-sale solutions. Priority's superior customer service has made them one of today's fastest growing bankcard processors.
XBS Global CEO David Robb will work closely with Aaron Osborne, Checkers Senior Vice President and John Priore of Priority Payments to implement the program and explain the benefits and details to Checker business patrons and sponsors.
Businesses looking for more information can go to the Checkers website @ www.http://www.gocheckers.com/projectgiveback/ or contact David Robb and Priority Payments directly at 1-800-347-1090.
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About XBS Global (Expert Business Services) -
XBS - @ http://www.xbsglobal.net/ is headquartered in Charlotte, NC. XBS is an Area Developer for Priority Payment Systems in Atlanta, GA. The companies specialize in merchant services and are comprised of electronic payments professionals with decades of experience in the credit card processing and electronic payments industry.
XBS recruits, trains and works with new agents for Priority throughout the southeast region of the US.
XBS professionals emphasize complete PCI DSS compliant solutions for their clients, fast funding, and lower overall payment processing costs that substantially increase daily and monthly cash flow. The merchant services provider does not charge nor is there any obligation for a payments analysis and recommendation.