Four Ways a Merchant Cash Advance Can Help Your Small Business Find Its Footing
Small business working capital is the lifeblood of the organization. Without enough business working capital, a business cannot handle an expansion, or even marketing for their grand opening. Merchant cash advance companies offer a working capital line of credit that allows small business owners to access cash now by selling a portion of their business’s future credit card sales.
It’s important to note that merchant cash advances are not loans; they are purchases, or sales. Instead of “repaying” one large amount per month, a flat percentage of the business’s credit and debit card sales are automatically remitted daily, meaning a larger amount is sent on large sale days, and a smaller amount on slow days. The process stops automatically when the business delivers the total amount that it’s sold.
What can I use it for?
- Purchase new equipment or inventory – Whether you’re just starting your business, or need to replace or update equipment, merchant cash advances are a great way to access the working capital needed to do so.
- Pay a tax bill or other debt – Bills can pile up with any small business, and a merchant cash advance is a good way to get out from under those debts, and start with a clean slate.
- Invest in new marketing or advertising activity – No small business is going to grow without a good marketing plan. Getting your business’s name out there to people who can use your product or service is going to make new customers, which will lead to more sales and a more successful business. Let a cash advance provide you with the capital to afford a successful new advertising campaign.
- Expand facilities or open new store locations – When your business is really succeeding and thriving, you may find you need more room to operate, or that you can open up another branch in another location. It can be hard on any small business to afford to make a move, or an expansion, but a cash advance will help make that move much easier.
Merchant cash advance services are used by over 25 million small business owners across America every year. It is an easy and convenient source of business working capital for entrepreneurs who lack the credit rating or collateral to secure a commercial bank loan. Help your small business get on its feet today with merchant cash advance services.