Firm cashes in on credit crunch

Scarce lending to small businesses has spurred action from the federal government. But, Chris Kille, president of Commersense, says that he has the answer.

Commersense, a Tampa-based merchant services firm, offers cash for small businesses in exchange for a cut in credit card transactions. The credit crunch has been a big help to the firm, as it has seen revenues quadruple over the past two years.

The typical process the company follows in evaluating a company applying for a cash advance includes Kille's staff looking over the company's financial statements. “They have to have been in business for three months and have a credit score of 500,” he says.