A Bar Or A Night Club? Funds Are Not So Hard To Come By
to a bar or a night club could be the perfect way to end an otherwise
hectic day for many people. They need a place to meet friends, have
fun, good food, some drinks and get back home to start the next day.
is a lucrative industry to get into as the foot fall will always be
there. Despite the stiff competition in the market, this business
will do well, provided you have enough security and the right set of
products to offer.
From Bad Credit
you are in this industry, more often than not, the business does not
go as per plan. There could be some political issues that may throw
your targets off course and cause you to suffer a loss or worse, bad
credit. What can one do when the business has been affected and
people don’t come in?
you are not able to repay your loans and borrowings on time, you
suffer risking your credit score. When you have a bad credit, it
affects the future prospects of your business as banks won’t be
ready to extend any more credit to you.
those banks and institutions that do lend money will charge
exorbitant interest rates to cover the risks they undertake for your
business growth. So what other option do you have? Either forego the
loan or pay heavy interest on it? No, you have merchant cash advances
to help you out.
when you have a bad credit history, these merchants are ready to lend
money to help your business grow. They don’t look at your past
credit and do not hold any collateral but instead believe in the
future growth of the business.
businesses cannot afford to take bank loans at heavy interest rates,
hence these merchants are sought after by such businesses. Be it long
term or short term, one can get unsecured loans from such merchants.
how do they take back the money lent? They take a percentage of the
card receivables on a monthly basis. When it is a percentage, the
amount paid out to the lender can be different every time. These
merchants believe in the growth of the business and hence lend varied
amounts of money.
you want to expand your bar or get more food and drinks options, you
need a considerable amount of investment. When one is in a cash
crunch, the business cannot come to a standstill, it has to move on
and for this one needs to borrow money.
cash advances can cover requirements for 1st Position, 2nd Position,
3rd Position, 4th and 5th Position funding. They can help in bridging
the gap between what is available and what one needs. This way, the
business grows while the owner has enough liquidity. This also helps
them in emergencies and cover up in the case of a bad day.
MCA(Merchant cash advance) is the perfect alternative funding
solutions for those who want immediate cash without any collateral to
be locked up.
the merchants only sign up a portion of the future receivables, the
risks involved are much higher and hence the rates charged by them
are also higher. However, you need not invest anything yourself and
reap the profits of your investment as you pay back the amount.
does not always need full funding for their business needs. A bar
owner may have the funds to buy the furniture but not to source the
liquor. In such cases, the merchant cash advances can be used to
bridge this gap these funding can also be used to repay the borrowed
amount from other sources. This will give you more time to repay the
amount and hence lesser pressure.
you suffer from a bad credit score or have defaulted payments in the
past, we are ready to invest in your business. This is because we see
the future potential of a business and the industry and not the past.
This enables us to improve the economy and also increase our
you apply for a fund borrowing, our executives will conduct a
thorough research about the industry and your business and then
decide on the interest rates and other factor rates. When the risk
involved is high for us, the rates are increased accordingly. If your
business is sure to receive a lot of card payments in the near
future, we can increase the percentage you will pay us and even
reduce the term.
every merchant has their own way of assessing the risks and so do we.
Whether you want a revolving credit or want to increase your working
capital, we can help. We are keen on improving this industry and
helping the general public have more places to go to when they want
to distress. Whether you want to improve or expand your business, we
are here to help you achieve your dreams without any hassles.