The first year of almost everything is the toughest: From high school to marriage to the first year of your child’s life, the first year can have a lot of unknowns. The same comes with a business. Many businesses fail in their first year, and from many reasons. Sometimes merchants are not mentally prepared to operate a business. Sometimes it comes from the overall economy, or the product choice. Often though, it is the lack of cash flow that can shut down a business. In today’s market, there are answers for new merchants that can save their businesses, leaving them celebrating their one-year anniversary.
Forgo bank loans, crowdfunding, and searching for a rich relative. These methods fail more often than not. The answer for merchants with financial issues is a merchant cash advance. A merchant cash advance can be obtained easily and quickly – many times within 72 hours. Unlike a bank loan, payments are not scheduled, and there is no payback deadline. A merchant cash advance is not a loan, but an advance on your sales. Your merchant account processor buys into your business, and every time you make a sale, they are repaid by a small percent. This leads to a fair payment plan, and it keeps you from struggling to make huge monthly payments. In addition, the application process is easy. There is no digging for obscure paperwork that you may not even have, and you can even apply on your smartphone or tablet. Our on-the-go society can rest assured that there is a way to obtain business funds – without the hassle.
The approval rating for a merchant cash advance is also high, which helps many who could not find another cash source. This is because your credit score does not play into borrowing. The only thing that matters is your business performance. Every merchant deserves the chance to obtain funds when they need them. If you are in need of a cash advance, whether you are in your first year of business or your twentieth year, contact your merchant account processor today.