Fashion businesses are be either hit or miss. While every business deserves that chance to succeed, that fact is that many do not. There are many reasons for this, from the demographics of the area, to poor planning of the merchant. While the processing industry cannot do anything about area demographics, we can do something to help your planning. While business planning typically falls to other professionals, we can help you with dreaded financial planning.
Few businesses start without the help of a loan or wealthy family member. While loans are a good idea for some, they are usually not attainable for many who are new to the business realm. This is because banks and loan officers consider new business owners to be “high risk” due to their unproven record. While banks may fail you, a merchant cash advance will not.
A merchant cash advance is overlooked for many reasons, but often merchants do not know that it exists. Many merchant account processors do not offer this service. You might think that locating one is difficult, but in reality, it is only difficult if you do not research. While there are a few, one of the best is FAM, or First American Merchant. With FAM, you have the opportunity to invest in your company. Not only can we at FAM handle your merchant account, but we can also give you the opportunity to start your business with a merchant cash advance. What makes our merchant cash advance program special is that unlike a traditional loan, you do not start paying it back until your company is making money. This means that if your business does not make money for two years, you will not pay for two years. Your payments are taken directly from your merchant account, so there is no worries with a bank or middle man when dealing with our cash advance.
Unlike traditional cash advances, we offer low interest rates, which can help you pay back your borrowed funds easier. While it is possible to start a Go Fund Me account, or beg a wealthy relative for a cash advance, it is not realistic. The best thing for you to do is to contact FAM today and ask about a merchant cash advance.
Contact us today to get started!