My husband and I had been running the same restaurant for eight years, business was slowing down and we decided we needed to make a big change in order to turn the negative trend into something positive. We set up a plan to remodel the restaurant and hire a top chef - this required capital we did not have access to at the time.
After four meetings with the local bank we got turned down, we got in contact with Business Funding Experts and they came through - we had the working capital we needed in just 4 days!
Our restaurant is now flourishing, the advance has been repaid and should we need extra working capital again in the future we will save ourselves time and go straight to Business Funding Experts.
Annie & Frank Jones, Restaurant Owners, Ft. Lauderdale
Small business owners experience many trials and tribulations during the start-up phase of their business. Unexpected expenses, expansion, and common maintenance require monies that are often tied up into the core components of the business. Small business owners typically take out fixed-interest loans to fund the initial costs associated with their venture. Once these funds are depleted, it can be difficult to secure additional loan funds. Low business or personal credit scores hinder further lending, and often send small business owners to family and friends to raise more capital. Fund amounts raised by family and friends are often for much smaller amounts than the business owner actually needs. A small business cash advance is a great alternative to traditional loans.
A business cash advance, also known as a merchant cash advance, is typically offered to small businesses who acquire a certain percentage of their revenue through credit card transactions. One who applies for a small business cash advance avoids having to provide references, and also avoids having to fill out large amounts of paperwork. They can also escape without needing to provide collateral to secure the monies and there are no up-front fees or broker fees to afford, as is traditional with obtaining small business loans.
A small merchant cash advance is great for those with bad credit. One can apply in minutes and receive funds in as little as 3-7 days. There are typically no penalties for pre-payment of the business cash advance, and the repayment options are typically very flexible. The cash can be used for renovations, securing inventory, paying for shipping supplies, payroll and tax obligations, and any other small business-related costs.
The lender of the merchant cash advance will typically charge anywhere from five to thirty percent for each credit card transaction obtained. This makes repaying the advance a cinch. There are no checks to mail, and no need to worry about missing a repayment deadline, incurring costly late fees, as with a traditional loan. Repayment of the money typically takes between five to twelve months, depending on the amount borrowed and the percentage that is withdrawn from each credit card transaction. The best part is that if business is slow, the amount collected by the cash advance lender reduces. This eliminates the possibility of creating further financial losses to the small business owner.
Ninety-percent of small business owners are approved for a business cash advance. When you factor in the automated process for repayment, flexibility in payment and processing options, and eliminated collateral and application fees, it makes obtaining a small business cash advance an efficient solution for small business owners in need of quick cash. For those small business owners that suffer from bad credit, these business cash advances are often the only viable solution to ensure the continued success of the business.
Are you ready to get in the fast lane to get access to working capital for your business? Do you think it is better to spend your time improving your business than catering your bank with all kinds of documents and records that will get you turned down for a bank loan in the end anyway? If you answered yes to these questions, then you are a good candidate for our Merchant Cash Advance. Apply in the form up to the right on this page and get access to cash in just a few days!