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Credit Cash lends $2 million to restaurant chain.

Despite the difficult environment for restaurants (slow economy, rising food costs) this casual dining chain has improved margins, even while cutting prices. The owner contacted us to see if we could help him buy two locations that were being sold from a chain that was in liquidation. The locations fit perfectly into his footprint. Coincidently, Credit Cash had turned this company down about a year earlier for credit reasons. Now the timing seemed opportune for both the client and for Credit Cash. The two new locations are expected to open this summer bringing this chain’s total to 18.

Credit Cash supports cancer research.

Credit Cash was a senior underwriter for the annual American Cancer Society’s "Swing for a Cure" golf tournament played at the Raleigh Country Club in North Carolina. Sales Manager Matt Arfin hosted a foursome while several clients attended as our guests. Despite difficult weather conditions, a good time was had by all.

What credit crunch?

Credit Cash is on a pace to triple its loan volume this year. With fewer financing options open to merchants of all sizes, our offices have been busier than ever. As word of our services has spread, more and more merchants are contacting us to see if our customized programs can fill their needs. On most occasions, we have worked successfully with their existing banks to increase their working capital and help them take advantage of strategic opportunities. Even in this difficult economic environment, there are plenty of opportunities for the experienced and careful entrepreneur to increase his/her business.

Powerful Number Three - Three times more money, three times less expensive

Credit Cash continues to lend more than 3 times more than any other cash advance company and at rates that are 3 times less! This means that merchants can get three times as much money, and keep their repayment the same.

Credit Cash recently funded a $1.2 million loan to a chain of gyms in the southeast. What makes this noteworthy is the trend that we have been seeing. That trend is in the number three. The gym chain had been given the maximum advance from its processor, $400,000. It was paying a 1:35 for the use of this money. If you go to our rate analyzer, you can see that this translates into more than 100% implied interest rate. We at Credit Cash are happy report that we gave the gym chain $1.2 million, but at a rate that was actually less than one third of its existing rate. We were also able to extend the payment term from eight months to one year.

Because of the lower rate, and the extended term, his monthly payback is the same amount, even though he has $800,000 more! With the additional money, the client can open up three more locations, close one unprofitable location and get more current on payables.

Credit Cash is an affiliate of Entrepreneur Growth Capital whose roots go back to 1937 when the founder’s Grandfather started a commercial finance company. It is with decades of experience that Credit Cash approaches each deal. We look at the entire company, not just credit card revenue in order to create a transaction. Each deal is customized because no two clients are alike.

“Our experience and service are the reasons why we have become the number one choice of larger merchants. In fact, a lot of our referrals come from other cash advance companies whose funding is either too limited or too expensive for their prospects needs” according to Dean Landis, the company’s founder and CEO.

Credit Cash adds two seasoned veterans to sales team.

We are proud to announce that Lester Shufro and Jason Kodym have joined us as senior sales executives. Lester will be initiating his efforts from Southern Florida and Jason will be working out of our New York headquarters.

Lester has been in asset based lending for forty years, most recently with Wells Fargo Business Credit. Jason was previously with ADP where he was continually a member of the President’s Club. Both Lester and Jason, along with our CEO, Dean Landis, attended and exhibited at the recent NATSO conference in Orlando, FL. NATSO is the leading trade organization serving travel plazas (aka truck stops). Credit Cash continues to add clients from this field and is becoming a vital alternative financing source to this industry.

Loans now begin at $50,000.

In December, Credit Cash announced the formation of its small business lending unit. This New Jersey based unit will specialize in loans from $50,000 to $150,000. In order to qualify, prospective borrowers have to have annual revenue of at least $1 million, annual credit card revenue of at least $600,000 and have been in business at least one year.

For further information, please call our New Jersey office at 201-849-4404.

Credit Cash has record month.

In August, Credit Cash provided over $4 million in new fundings.  This represents 6 new clients whose combined sales are over $100 million.

Among the notable transactions was a restaurant chain in the Southeast with over 20 locations who borrowed $1.2 million for renovations.  The deal was closed within 10 days.

Another relationship began when a Northeastern retailer needed a $1.3 million cash infusion for new inventory in preparation of a busy fourth quarter.  This retailer was in the midst of negotiating a new bank line, however sensing delays, they called Credit Cash.  We were able to work with both his old bank and his new bank and provide the time critical funding in two weeks.

A third noteworthy deal was a $1 million loan used for construction by a nine-location day spa located in the Southeast.  This successful chain felt that it had sufficient cashflow to cover a timely project, but when cost overruns and seasonal slowness occurred, they turned to Credit Cash for a fast and reasonable solution.

New Jersey home heating oil distributor was in need of additional working capital.

A second warm winter in a row caused stress on the company’s already thin margins. They were rich in assets, low on cash and facing the slow summer months. Thanks to the Credit Cash’s low financing costs they could afford to borrow $1,300,000 to get through the season.

A casual sports grill borrows funds from Credit Cash rather than give up equity.

This 10 unit restaurant group, based in Minnesota, was funded $400,000 to help expand into another location. Rather than seeking additional investors for their expansion, this chain realized they could grow their business without giving up equity by taking advantage of the low financing rates of Credit Cash.

New York health studio takes advantage of an opportunity to enter the exercise apparel business.

Their bank was not willing to add on to their existing loan. Rather than let a competitor take advantage of the opportunity Credit Cash agreed to come in as a subordinated loan to the bank. The deal was closed within a week and the apparel line was introduced on time.

Credit Cash funds the expansion of another unit.

A 5 unit steak house restaurant chain has borrowed $400,000 from Credit Cash to build another unit. Based in the State of Missouri they have been operating since the early 50’s. At 7,000 square feet, each unit required a sizable investment. Credit Cash enabled them to break ground for a new location.

A New York for profit school borrows $150,000 to fund expansion to keep pace with their growth.

Most of the tuition was paid by credit cards. Due to the academic calendar there was extreme seasonality to its revenue, plus, much of the summer revenue was prepayments of the fall tuition. Credit Cash took all this into account and created a program that met the construction needs and the seasonality issues of the school.