If you are like other small business owners, you will need a large amount of cash from time to time to help fuel the growth of your business. However what if you don’t have the cash available? With an increasing number of opportunities to acquire a loan, you truly have the ability to get funding quickly and effortlessly. One such opportunity is a business cash advance.
Reasons for Getting a Merchant Cash Advance
With merchant cash advances, the cash you are given is paid back to the lender, plus with some fee, by allowing the lender to take a certain percentage of your credit card sales every day until you have fully paid back the borrowed amount. It is also important to note that a business cash advance is not exactly a loan – in fact it is an arrangement wherein the lender purchases a part of your future credit card sales. You could use the cash advance amount for almost any of your small business need to relieve your business’ financial stress:
- Equipment Purchase
Could a new automobile, workstation, cooking range, or even a printing machine turn out to be useful? However what if funds are low? The truth is, such equipment is important to the success of your small business. Whether you run a restaurant business or a coffee shop, your business heavily depend on equipment. Majority of business cash advance clients have used their funding as a stress-free alternative to equipment leasing or traditional bank loans. A business cash advance can offer you with the quick cash you need to make such purchases.
Whatever type of business you run, using a merchant cash advance for purchasing equipment is an excellent option.
- Employees’ Payroll
If you have been running a one-man business, perhaps a few extra hands could be helpful. Not only would the added workers help you by taking the load off your work, however they also can play an important role in expanding your small business and increasing your product or service range. You can also improve your business performance by these added workers who can help you in bringing in more new customers.
But if you don’t have capital in hand to pay added employees, you can take out a merchant cash advance to cover their payroll and some other expenses.
- Inventory Purchase
Purchasing inventory is one of the more common uses of a business cash advance. You need to have your goods in stock in order to satisfy customers’ requirements and remain successful. As such, it makes sense to make investments in the necessary inventory so you always have what you need accessible to fulfill customers’ orders.
You can use business cash advance to cover funding for inventory and pay your suppliers immediately with no concerns. Merchant cash advances are considered appropriate funding option for stocking up on seasonal inventory.
- Marketing and Advertising
You may be running a best business in industry, but if no one knows it, your revenue will suffer. That is why proper marketing and advertising is so important to help get your business accessible. However if you don’t have cash in hand how can you market your business? You can use a business cash advance and get some amount to invest in marketing and advertising activities.
- Business Expansion
Now is the best time for you to start expanding your small business to realize even greater levels of success. And a chunk of change might be simply what you need to help your business take off. If business expansion is your objective, a business cash advance can be just what you want to make it happen.