Worries Grow Over ‘Payday Loans for Smaller Businesses’ As Cory Elliott’s construction company boomed, her financial obligation woes started. She was indeed rejected by 10 banking institutions for funding to grow her St. Louis construction company, and a monetary consultant she hired advised a popular alternative: a merchant advance loan. 6 months later on, she had been spending over $14,000 a to service debt of $130,000 for two cash advances month. This sounds like payday loans for small businesses, as some critics have called merchant cash advances, you’d be on the right track if you’re thinking. Both customer pay day.