If your business does not have the necessary equipment it needs to function, it cannot continue to exist. When a business owner is strapped for money and does not have the cash to purchase equipment this compounds the situation. A restaurant can’t function if the stove doesn’t work. It’s as straightforward as that.
The solution to your problem is equipment funding, which can be provided by business funding operations that are headed by professionals who know what running a successful business requires. The business owner faces numerous hurdles when it comes to applying for loans. A business funding operation recognizes exactly what these obstacles are and can eliminate them by providing a loan alternative.
When a restaurant owner needs a new stove, he needs it now, and not tomorrow. Merchant cash advance services provide a sleek application process, the highest cash amounts available and a thumbs up from the merchants who have dealt with them in the past, and will again in the future and enable the business owner to buy what he needs in order to stay in business. A business has to have access to working capital to stay afloat, particularly when the equipment breaks down and must be replaced immediately.
If you cannot get his hands on cash it would be impossible for you to stay in business and remain competitive. When times are hard, it is often difficult if not impossible to get the money that you need to continuing operating your business. Business funding entities know this and as a result they do not put you through the wringer when you apply for a cash advance. There are no stringent lending guidelines or nightmarish approval processes that the borrower must endure. The services provided are streamlined and efficient.
Mid-size startup may find themselves in need of cash for their operation because times are tough. There is also way to get money you need other than borrowing from a bank. Businesses can get immediate cash advances that are transferred into their business account. Collateral requirements are not involved. There isn’t a strict repayment schedule.
You have to repay the loan based on a percentage of his future credit card receipts. This means that the loaning entity is provided with four consecutive months of the borrower’s credit card receivables which shows how well, or badly, the business has done in the previous four months. If the business has a down month, his payments are lowered so that he doesn’t have to endure the stress that he would if he were locked into a conventional repayment loan plan.
The flexible repayment plan takes the world off of your shoulders and you can focus on running your business using the new equipment that you were able to purchase with your business loan.
It’s impossible to predict how well your business is going to be doing in the next month or six months down the road, although, of course, you hope your sales increase. If they don’t, the lender understands.
If your credit history isn’t that great, don’t lose any sleep over it. Most of the merchants that apply for this type of loan are approved (80 percent) even if they have been denied credit by other loan operations. When applying for this type of loan, the process is not complicated. The business owner submits his Visa/MasterCard credit cards from the past quarter of a year and must have had a minimum of $2,500 in monthly sales for the previous six months. That’s it. In most cases, within 10 days you will have your cash and can purchase that equipment that is so essential to your operation.