In this current economic climate, it is not exactly unheard of that many businesses are having a hard time keeping up. This is especially applicable to small and new businesses that require cash in hand most of the time. Without cash at the ready, businesses will have a difficult time with various aspects like upkeep, supplies and equipment acquisition, and expansion. One can turn to a bank for a loan but such options are known to have very low approval rates and stringent requirements. So for an average small business owner, a bank loan is simply not an option.
If you are someone who has been turned away by the bank, then perhaps you can use another option. Why not go to a merchant cash advance provider like Merchant Advance Express? Here are some situations where you could benefit from a merchant cash advance.
You require funds to purchase inventory in large quantities
Purchasing inventory in large quantities can frequently give you amazing quantity discounts, however it’s not necessarily simple to front the larger amount of money for such a considerable quantity of product. In this case, a merchant cash advance can help. You’ll can get the products for a reduced rate and will be capable of paying the loan back promptly with the income produced by the sale of the products. It’s really a win-win situation.
You operate a seasonal business
Plenty of small enterprises operate on a seasonal basis. During summer season, ice cream retailers and AC repair businesses are sure to be busy. However, what happens during other seasons of the year like winter? Odds are these enterprises are likely to see a decreased number of customers. A good seasonal business proprietor looking for cash would look for a merchant cash provide like Merchant Advance Express since the payment would only mean a percentage of the day-to-day credit sales. A poor sales day or season is only equated reduced payments.
You’ve got substandard credit
No one is perfect, we know that. However the reality is that every loan provider will need to look at your credit track record before shelling out the loan. The great news is because repayments for an advance are obtained straight from the daily credit card sales, the requirements to be eligible are considerably lessened than many standard loans. So if you have a less than stellar credit record, a merchant cash advance is perfect for you.
If you think your business is struggling and need some additional inspiration to succeed this video is for you!