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How to Use First Cash Advance to Take Your Business Into the Future

HOW TO USE FIRST CASH ADVANCE TO TAKE YOUR BUSINESS INTO THE FUTURE

Capital is the foundation for moving your business into the future. Without it, thriving business growth can remain just out of reach. What is required is the ability to take that next big step, but how can you possibly fund it?

Introducing Cash Advances

What if you could have access to a portion of your future credit card sales now? It is time to imagine just where your business could go, and how much it could grow, if you had the funding available to make it happen. One of the things that can hold a small business owner back is fear of the difficult and lengthy small business loan process. An ideal solution is the Merchant Cash Advance, which is not a loan, but an unsecured business cash advance based upon the business’s future sales.

How Hard is it to Qualify For Your First Cash Advance?

The beauty of this funding solution is that you are not judged by the number of years you have been in business, how articulate and detailed your business plan is, or even by your credit score. If your credit rating is less than stellar, this is a perfect solution to your funding needs. According to Entrepreneur.com, studies now show that 75 percent of funding sought by relatively new business owners comes from alternative sources such as a Merchant Cash Advance.

This form of flexible funding grants you the money you need based on the overall health of your business as a whole. The money advanced to your business is paid back based upon a small, set percentage of your business’s daily credit card processing receipts. The payments are cash-flow friendly because instead of being locked into a large monthly payment, they ebb and flow based on the sales volume of your business.

The Ideal Candidate For a Merchant Cash Advance

According to Business News Daily, the best candidates for merchant cash advances are businesses with strong credit card sales, such as retail merchants, restaurants and service businesses. The advantages of merchant cash advances are that they are relatively easy to obtain, funding can be received as quickly as in a few days and the financing is paid back directly from credit card sales.

How Much Collateral Do You Need for a Cash Advance?

No collateral is required for this type of funding, it can be easy to obtain and the decision for your cash advance is typically made within two business days. This means that you can begin expanding your business or making those necessary improvements almost immediately. Take a look at how you will use your first cash advance to improve or grow your business. What specific areas of the business will you allocate the funds towards? How much capital do you need?

Things to Consider…

  • Day to Day Operations: Whether it is new product development, marketing plans, advertisement, additional employees, training initiatives, obtaining new vendors, or attending trade shows, (just to name a few possibilities) this is the area where you create an action plan for the best use of your capital to move the business forward.
  • Business Assets and Tools Required: Maybe you need to increase your inventory to support customer demand, or add another company vehicle or new computers, purchase tools and equipment that provide what is required to increase sales and overall production, or even purchase new point of sale systems. This is the part of your business plan that allows you to give your business all the tools it needs to support its growth.
  • Expansion and Location Improvements: Perhaps you need more space or improvements to your current location. Maybe there is a second location opening up with your name on it, or maybe your current location is what is holding you back and a move is required. This is where you map out how you will keep up (and present) the anticipated expansion and growth as well as provide better access to all your customers.

 

How Do You Obtain Advance Business Capital?

Once you know what the capital will be used for, it is time to put your plan into action. You can apply online by filling out a short application and by sending a few bank statements along with it. That is typically all you need to get your If you are seeking a way to expand or grow your business, advance business capital is a solution that is fast, easy to obtain, and offers a repayment plan that adapts to the sales volume and success of your business. Apply now and let us help your business grow!