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Furniture Sales Financing Options: Merchant Cash Advance

The furniture and home furnishing industry have seen a positive trend and there is a lot of hope in the future for this industry. Though it is a nice idea to start a new furniture store, it is to be noted that it is one of the most sensitive industry. The one difficult thing for people in the furniture industry is that they need to maintain the furniture stock as per the latest trend and be able to pay for the overhead costs. Hence, cash reserves in this small business are always appreciated for further growth. This is where MCA (Merchant Cash Advance) comes into the picture.

MCAs are designed for receiving cash payments as loans that are repaid in under 18 months. The major advantage of MCAs is that the repayment is directly proportional to the sales volume of the business. This advantage helps the business even during low sales or off seasons.

Business Funding Made Easier

Maintaining costs like payroll or proper inventory is not an easy task nor is it inexpensive. The business needs to survive and be stocked well. There are other factors like rent, labor, and size that need to be taken care of, from the beginning. For example, if a large store is rented, more rent needs to be paid. Also, more space more the furniture that ought to be filled with. Also, if the business is dealing with new furniture sales, then it means more money compared to the used ones.

Dealing with all these factors is not possible without proper cash reserves. Most of the small business owners do not have adequate cash reserves and must depend on some sort of alternative funding solutions to meet with the pressure. Getting loans from banks is not an easy task as they look at a perfect credit score to grant a loan to the business. The procedures to sanction loans are also tough ones like providing personal guarantees to cover up the losses when there is a delay in scheduled payments. The chances of rejecting the loan application also exist. Thus, it is not an easy way.

But to set that right, there is our Merchant Cash Advance Program. It does not ask for personal guarantee or application fee or perfect score and gets approved in 24 hours if the furnished details are in order. Above all, the funds are sent in within a week.

The business funding can then be used to address a lot of areas within the furniture business like

  • Supply Purchase

  • Equipment Purchase

  • Upgrade Equipment

  • Repair Equipment

  • Upgrade Storefront

  • Expansion of store

  • Expansion of Business

  • Advertising

  • Marketing

  • Renovation

It is totally up to the business owner to decide on how to use the funding and there is no questioning on that. One can take their business to the next level with the help of Merchant Cash Advance. The availability of immediate capital to stay in the business and improve management also means that one need not set unrealistic requirements. Repayment of the loan can be done either as a fixed amount from time to time or can be structured as partial payment according to the percentage of sales and the total income of the business.

Funding a Company with Multiple Cash Advance

Businesses sometimes need immediate working capital and though not recommended would require a cash advance. For such kind of situations, it will be tiresome and more time-consuming to go for traditional financing. Sometimes, companies have multiple cash advance and hence, their loan applications would be disqualified due to low credit score or tax liens. For these type of companies, the only option available is an additional cash advance in the 2nd position, 3rd position, 4th and 5th position. Though the interest rates for these cash advances are high, they can utilize it to develop their business. To apply for 1st Position, 2nd Position, 3rd Position, 4th and 5th Position, the business owner or the merchant needs to provide documents like Credit application, bank statements, Voided Check, Photo ID and so on. Contacting the corresponding executive will give a clearer picture on submission of these documents.

A Ray of Hope for Merchants with Bad Credit and High NSF (Not Sufficient Funds)

A businessman becomes successful only if he/she can arrange finance whenever the business needs it. But if the merchant has bad credit or NSF, the chance to get funding from banks or other outside funding is less. At that time, merchants can make use of the benefits that they get out of our merchant cash advance.

  • Application Process is Easy: Application process is simple. BCA or MCA lenders check credit card sales and bank statement to ensure the ability of payback of the loan.

  • No Questions on the Use of Money: Unlike Bank Loan Officers, MCA lenders do not ask questions about the way the money is spent as long as the payments are made and the contractual terms are upheld.

  • No Fixed Monthly Payment: The MCA structure is affordable and the payments are matched with the sales made by the business.

  • More Time to Pay Back: A BCA (Business Cash Advance) gives more time for full payback payment. Until that time, the lender takes a percentage of the credit card sales.

  • Approval is Fast: A MCA takes not more than 2 days to get approved. This avoids a lot of stress in the furniture business

Do not worry about bad credit and bring the furniture business back into the track by getting the finance you need. Take advantage of the Merchant Cash Advance benefits.