Merchant Cash Advance, A Business Owners Best Friend

More Info About Merchant Cash Advances

Many businesses today have challenged credit,which makes it difficult for them to get approved for a business loan.The big banks have very strict criteria, with FICO score being the number one item that they look at. They typically want to know the amount of time in business and require at least a 700 credit score.

The best solution for businesses that don’t meet these strict requirements is a merchant cash advance this type of funding doesn’t rely solely on your credit score, instead the focus is on the strength of the business. Basically they look at sales.

The requirements are very minimal.

• business needs to process credit card payments from its customers.
• The business should have a merchant account for 6 months or more in order to qualify for a fast cash loan.

The funds can be used for any purpose. The lending firm gives the business owner a lump sum payment upfront in exchange for future credit card sales. The payoff period is pretty short anywhere from 4 to 12 months.

Why a Merchant Cash Advance Is Better Than Other Types Of Loans!

• The amount of the loan can be as little as 5000.00 up to 600,000.
• High Approval Rates. 87% Average.
• Repayments are made daily Monday thru Friday automaticially from merchant account or ACH.
• Merchant Cash Advances are non secured and not personally guaranteed.
• Funds are direct deposited into business accounts within 3 to 7 days.

What Businesses Can Qualify For A Merchant Cash Advance?

Any small business operating 6 months or more with a merchant account that has monthly sales of 10,000 or more.

Some Examples Of Businesses That Qualify For A Merchant Cash Advance

• Restaurants
• Bars
• Night Clubs
• Taverns
• Hotels
• Motels
• Bed and Breakfast
• Caterers
• Bakeries
• Liquor Stores
• Take Out Meals
• Coffee Shops
• Smoothie Shops
• Honey Baked Ham Stores
• Ice Cream-Yogurt Stores
• Candy Stores
• Cheese Stores
• Cookies By Design In Bloom
• Edible Arrangements
• Food Gift Basket Stores
• Gourmet Popcorn Stores
• Cafes In Fitness Centers
• Gourmet Food Stores
• Mrs Fields Cookies
• Auto Repair Shops
• Barber Shops
• Beauty Salons
• Spas
• Bicycle Shops
• Book Stores
• Bowling Alleys
• Camera Stores
• Car Washes
• Chiropractors
• Cigar Stores
• Dentists
• Doctors
• Drug Stores
• Dry Cleaners
• Florists
• Gift Stores
• Grocery Stores
• Aunt Annies
• Orthodontist
• Jewelry Stores
• Luggage Stores
• Pet Stores
• Photo Studios
• Quick Copy
• Electronic Stores
• Shoe Stores
• Sporting Goods Stores
• Veterinarians
• Video Rental Stores and More!

ANY BUSINESS THAT ACCEPTS CREDIT CARDS

What Can A Merchant Cash Advance Be Used For?

• Expansion – Some Business Owners Use A Merchant Cash Advance To Open Up Another Location,or Take On More Space Next To Them.
• Remodel – Some Merchants will use the money to fix up,and make their place more modern.
• Equipment – Merchants can use the money to buy more or update current equipment.
• Inventory – Merchant will use the cash to buy more inventory.Buy doing so they may pay less money for the items because they are buying in larger quantities!
• Working Capital – Merchants use the money to keep up with payroll, put more employees on, and hold onto money for unexpected expenses.
• Taxes – Merchants can use funds to pay their taxes so they don’t fall behind and get penalized.
• Advertising – Merchants can use the cash for advertising which helps bring in new business.
• Marketing – Merchants use the money to get a website,run ads,and display upcoming promotions.
• New Product Development – Merchants can use the money to bring in more items and products to increase their sales.
• Debt – Many businesses can use the money to pay off their business debts,creditors,rent,etc

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The Small Business Loan – Finding That Threshold

Finding That Threshold – The Small Business Loan

Millions of men and women fail to realize how significant small businesses are in this token economy. They tend to favor incredibly large companies that operate globally just because they come into contact with them every single day. The belief that small businesses are crumbling or becoming less effective in today’s society could not be farther from the truth. Just half a decade ago there were nearly 30 million small businesses in the U.S, and they accounted for over half of all U.S sales. As time has progressed, the U.S has witnessed millions of businesses employing 500 or more people (big companies) crumble. Some individuals even believe that two-thirds of the jobs in the U.S are the result of small businesses. However, creating one of these small businesses and employing people almost certainly requires a loan simply because many unexpected costs appear as an industry finds its feet.

Fighting The Unknown – A Small Business Truth:

As previously mentioned virtually all small businesses need help finding their feet. Even the world’s most brilliant minds conclude that revolutionary ideas, which have the potential to change tens of millions of lives are susceptible to unexpected or unpreventable factors. That is not a new concept. However, the dramatic change that allowed millions of men and women to find the fuel (funds) for their ideas was without a doubt a revolutionary concept. The small business loan is a life changer that helps one mind introduce their product to an unlimited number of men and women from around the globe. The benefits of a business loan are clear. So the logical questions are “Do I need a small business loan?” and “How do I get a small business loan?”

Knowing The Funder & Acting Accordingly:

The question of “Do I need a small business loan?” is a relatively easy question that can be answered upon evaluating three core components of business. First, all wants and needs must be separated. Second, all expenses must be tracked and analyzed closely. Lastly, all the initial business-oriented expenses must be prioritized and thoroughly explored. That means everything (telephones, chairs, equipment, etc…) must be purchased at the best possible price. If those three aspects are being implemented and funding is still an issue, then a business loan is appropriate.

The three previously mentioned points may seem obvious, but those are usually the biggest struggle for the men and women attempting to bring their ideas to life. They are also the main problems that lead to the accumulation of debt and an uncreditworthy appearance in the eyes of the men and women who contribute tens of billions of dollars to small businesses (the Small Business Administration). The primary goal is to follow those three points and build a well-structured business credit. That is the tricky part. The next step is to reach out to the Small Business Administration for a loan. This one organization deals with an average of $130,000-$140,000 per business and has the ability to put forth $5,000 or $5,000,000.

The Small Business Loan – Finding That Threshold:

All small businesses must understand the beauty of the statement “Rome was not built in a day.” Clearly, this statement is overused, but it could not be a more valid statement when addressing those who wish to create a business of their own. The vision of success or the magnificence of the finished product is likely to be present in mind. However, the little pieces needed to satisfy that vision are often floating around waiting to be pieced together. As a small business in today’s’ token economy, the so-called “pieces” that need to be put together are undoubtedly a matter of finances, which explains why a business loan has become a norm for all the men and women crafting business. Once that is realized the threshold can indeed be reached. The marvelous vision becomes a reality as it is systematically put together and expanded upon.

 

Thank you for reading our article!

 

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