You may be like thousands of merchants across the country that enjoyed hardy sales during the holiday season and were hoping that there was going to be enough cash flow to see you through to the beginning of the spring season. However, prices of goods and services have gone up and some employees received raises the first of the year. You know that you do not have enough cash to see you through. Do you try for a small business loan or get quick cash with the merchant cash advance?
January and February can be the doldrums in retail sales, whether you have a brick and mortar store or if you sell on line. Customers go crazy from the week prior to Thanksgiving until the after Christmas sales. Then it’s like they never heard of you. First of all, you made a huge dent in your existing inventory. Customers can’t buy what you do not have. New merchandise will not be rolling in for another 30 days. Even the national holiday and Valentine’s will not help.
It would be foolish to lay off employees just to hire them back in March. What kind of loyalty would that bring? If Peter had the money he would pay Paul. But Peter is tapped out, too. What about a small business loan? Do not think down that path. A small business loan would take weeks if not a month or more – if you were approved. Your credit score is not the best and you do not think you would easily be approved. Also, you would be saddled with a large payment that would have to be paid every month no matter what.
With a merchant cash advance you can get quick approval and the cash you need could be in your account within 72 hours. Some companies have received advances up to $150,000. You could get enough to carry you through the good times.
The secret with a merchant cash advance is that payback is based on your monthly credit and debit card receipts. During January and February you may not settle more than $7,000 each month. If you are on a 5% ACH payback, this means your payments would only be $350 each month. Then when sales are great, the payment goes up according to your receipts. There are no checks to write because it is taken right out of your account automatically.
Quit worrying. Help is right here when you need it the most.
For money in your checking account within 72 hours, call 1-888-785-6811 or click below right away.
