Business Financial Services raises $9,000,000

Business Financial Services Inc., a Raleigh, N.C.-based provider of cash advances to U.S. merchants, has raised $9 million from Edison Venture Fund. Business Financial Services provides business cash advances to small businesses that cannot obtain traditional funding. A business that has been operating for at least 9 months may obtain $3,000 to $500,000. The advance is paid back through a portion of the merchant’s credit card sales for an unspecified period of time.