Funding Challenges With Merchant Cash Advances For Convenience
Stores, Liquor Stores And Dollar Stores
that recession is over and the economy is beginning to pick up, why
are you still being denied funding? Being a small business owner, you
might often come across denial of funding from banks and other
financial institutions. This not only limits access to your working
capital but also hinders growth opportunities. Small business owners
like convenience stores, liquor stores, and dollar stores require a
good amount of money to kick start the business off the ground and
traditional business loans through banks are often long,
time-consuming and tiring procedures. So what could you possibly do?
for Merchant Cash Advances
Cash Advances are the cheapest forms of business funding and can be
crucial to the growth of small businesses with bad credit or High
NSFs (Not Sufficient Funds). MCA is also a great advantage for
businesses that require quick alternative funding solutions since
they cannot afford to endlessly wait for traditional loans to work in
merchant cash advance is more of an unsecured business loan where
your company will sell future business sales to a funder in exchange
for an amount of cash. This loan is repaid by either making daily ACH
payments via the company’s bank account or by remitting a certain
percentage of credit card transactions made by the company.
you are a small time business owner, you would be happy to know that
merchant cash advance lenders have high approval rates since the
procedure is cash-driven and not credit driven. Quite a number of
merchant cash advance funding companies have zero credit
requirements. While most banks will expect a solid credit history of
700 areas, alternative lenders will not expect anything more than
a minimal amount of documents and a simple application process, you
can get the funding that you require in just a matter of days.
However, since the lenders are taking on an increased risk, you can
expect the interest rates to be steep. The factor rate can go as high
are the benefits of Merchant Cash Advance?
small businesses, you could find yourself with additional financing
needs after obtaining a business cash advance. There could be a
number of things that require funding, for example, financing
purchase of equipment, repair or replacement in convenience stores,
new products or services in your liquor store, addition to inventory
in your dollar store. All these can be easily taken care of by a
merchant cash advance and we are happy to help you in your times of
will be no additional burden placed on your business and we ensure
that everything is transparent. You can choose to pay back the money
at your own pace. While you can pay off more debt during healthy
financial cycles, the same can be reduced during slow financial
cycles. There are a lot of other benefits like:
collateral is required.
application fee is required.
loan request is approved in 24 hours.
can be received as early as 72 hours.
personal guarantee is required.
terms are simple.
bills are transparent.
you already have a previous lien placed on your business by a
merchant cash advance lender, you will have to find a lender who is
willing to take another position to provide you additional financing.
The new lender will take a 2nd
positions merchant cash advance lien against your business. While
there are many lenders willing to make 2nd,
as well as 5th
position merchant cash advance loans, the key is to find such lenders
with the best possible loan terms. While these positions are
convenient, the term is shorter and the interest rates are much
higher than a first position cash advance so this should ideally be
your last resort.
your funding dreams come true
is every small business owner’s dream to witness the business
expanding. We will help you realize this dream without dreading the
thought of repayment, complex paperwork, and hidden loan terms. You
can simply give us a call and we will set up on the path of
uninhibited growth. Stock more products, enrich your inventory and
increase your customer base with our simple and easy business loans.
Trust us to guide you through the application process. We will begin
by letting you know if you are eligible or not and since we
completely understand that business loans are quintessential to the
survival of small business owners, we will try our best to
accommodate your need. Our loan terms are meant to facilitate your
business and its growth. Whether you own a convenience store, a
liquor store or a dollar store, you can trust us to assist you with
the best possible merchant cash advance loans.