Carrying on a business and make it progressing isn’t an easy task. There are many things to do which sometimes keep it difficult to achieve growth daily. Sometimes, business financing may be required to meet up the extra demand for the product.
Getting a bank loan is difficult and it can take irritating documentation to receive the needed funds. And most of the times you will likely be disqualified for a bank loan as you can’t just meet the rigid bank’s lending standards. Even if you have a successful business running, lack of collateral or a mistake can lead to loan application rejection.
You will find numerous loan options, but most of them can’t get the cash your business actually needs. So, if a single loan options isn’t able to help out, consider combining financing options to get the job done.
Retail Business: New Product Campaign
Let’s say you’re in a retail business and have a new idea for a product that will get you an edge over the competition. You have made a concentrated research on the product and concluded that your product idea is feasible and you finally have some to manufacture it–but you don’t have enough money to over the manufacturing costs.
After you secure the idea by applying for patent, you decide to raise cash through crowdfunding, offering the product to donators. You later realize that a successful crowdfunding can be done by product marketing, which requires digital presence in terms of a website, online advertisements, and a social media presence. You apply for a business cash advance to market your crowdfunding campaign. After a successful marketing campaign, your product starts selling in few months time, allowing you to repay the cash advance along with shipping your products to crowdfunders.
Restaurant Business Expansion
Your started a restaurant business and its doing well initially. You want to expand your restaurant business. You started to think of moving to a new location rather adding on to your existing location. You don’t have much cash flow to finance your business expansion, so you settle on seeking investors to support your expansion for a future profits cut.
You’re facing irregular food costs, equipment problems and labor issues, and your cash flow is a trembling. Initially you make strong profit, but later you’re struggling with making suppliers and payroll payments on time. Instead of upsetting the business flow, you apply for a merchant cash advance to make certain stable cash flow.
Soon later, an investor considers your business a profitable opportunity and writes a check for your all expansion expenses. With vigilant preparation, your restaurant stays in operation during construction and your cash advance is repaid, leaving your investor with a healthy return from the new space.
Merchant Advisors offers business cash advances and working capital financing to small businesses that require fast business funding for a new business idea or to expand their venture.