Small
businesses are alive and flourishing. One of the reasons is the rise of
alternative funding sources that help them get funds easily, with less
hassle and with no need to furnish collateral. There are small business
loans and there are unsecured loans for small businesses and then there
are MCA.
What is a merchant cash advance?
It is an alternative method of finance for small businesses.
It is primarily aimed at retailers, pharmacies, professionals, small
manufacturers, restaurant owners and similar businesses that may face
the occasional cash crunch. It is not for startups. Only those in
business for a year or more with a turnover of $ 10000 in credit
card sales are eligible. The only requirement is proof of identity,
residence, ownership of business and bank statements and funds are made
available in less than a week. Repayment is usually tied to credit card
sales on a daily basis. The factor rate is rather high but bearable.
Why should one apply for merchant cash advance?
Immediacy
As any small business owners know there
are several occasions when cash is in short supply and one must get
funds immediately. This happens when employee salaries are falling due
or when vendors need to be paid while incoming funds may be delayed. Accessing merchant cash advance is the best option to get cash immediately and meet one’s commitment. It is better than having to seek loans from friends or relatives and remain obligated to them.
Launch campaigns
Retailers and small businesses may wish
to take advantage of festive seasons. In such cases launching a
marketing campaign will net them more customers and generate more revenue.
MCA funding gets them the money they need to launch campaigns, increase
their market visibility and presence and garner a good share. Extra
earnings always help repay the loan.
Expand activities
A businessman who stays content with his business is likely to stagnate
and suffer. The expansion should always be an ongoing process for small
businesses to grow into larger ones. Cash advances are the best way to finance
such expansion activities. A businessman can move to larger premises,
refurbish and renovate his existing premises, buy new equipment and
generally increase the quantum of business. Expansion of activities will help him serve customers better and faster and earn their loyalty as well as recommendations.
Pay off debts
It may not seem like a good idea to go
into debt by obtaining a cash advance in order to pay off a debt but
debts can be restructured. If one is in a debt situation where the interest rate is killing then getting a loan at a much lower rate and on more favorable terms to pay off that debt is a wise decision.
There is no doubt that cash advance business is growing and providers like wscapnow.com are offering the best terms. Small businesses that would have gone under have survived and prospered. Businesses that would have stagnated have expanded and grown, thanks to small injections of cash at the right time.
It is easy to apply for Water Street Capital’s best merchant cash advance. Just fill in the form online and initiate the process. Our rep will take it from there.
0 comments:
Post a Comment