Summer heat equals added customers

I recently talked to a restaurant owner who was looking to add outdoor seating to his growing cafe business. The problem? No cash!

He needed to spend about $2,000 to add 10 tables, fix the concrete patio, and add some umbrellas. Rather than take the money out of his personal savings, he chose to get a merchant cash advance.

He received funding in 14 days, and anticipates having the loan paid off in 90 days. It will cost him a bit of interest, but as he sees it, he is making an easy $25-50 clear on each table per day.

Rather than find excuses for why you can’t grow your business, find solutions.

- Brian

www.bedrockfinancing.com

What is a Merchant Cash Advance?

Merchant Cash Advance is a type of business loan which is usually presented as being a factoring product, where a Cash Advance company will review a merchants credit card processing statements in order to determine how much revenues are coming into a merchants business via the merchants credit card revenues / payments / sales, (they will also look at how much revenue is streaming into the business from cash & check payments / sales) they then purchase future credit card payments to the merchant at a discount.

For example: if a merchant is processing an average of $10,000 each month, when the merchant is approved the cash advance company will pay the merchant $10,000 (essentially giving the merchant a $10,000 cash advance) for anywhere from $11,200 to $15,500 (or more) of their future credit card sales income.

Is this right for your business?

Check out my site at http://www.bedrockfinancing.com to find out more information.

Small Business Financing; Another Option?

Businesses seeking cash for working capital, look no further. There is a unique solution for clients who need a quick infusion of money now.

The reality of the economic climate facing business owners today is that traditional lenders are toughening the requirements needed to obtain working capital. 92% of all small business owners can not get money from banks. Reasons include length of time in business, lack of collateral, and owner’s poor credit just to name a few.

 

According to the latest statistics from Equifax, there are more than 18 million small businesses in the US. A high percentage of those small business owners are digging into personal savings, taking out home equity loans, borrowing from family and friends and running up credit card bills as forms of financing. All of these options require the business to take on additional debt.

 

Let’s explore a unique solution for business owners who need a quick infusion of capital. One of the least-known merchant financing strategies for successful businesses is potentially the single best working capital management strategy for obtaining needed capital. The use of a merchant cash advance program or credit card receivables funding.  For any business that accepts credit cards as a method of payment, a merchant cash advance is a critical business financing tool that is often overlooked. Capital advances are based solely on the predictability of a company’s future credit card sales. A merchant cash advance allows a business owner to get a large sum of cash now, without incurring any additional debt. The reason is simple; you are not receiving a loan. You are “selling an asset at a small discount”, your future credit card sales. Some of the key advantages of credit card receivables funding over other forms of financing are: no long application process, 24 hour approvals, cash in 7-10 working days, no application fees, no tax returns needed, no business plan needed, no closing costs, no fixed payment terms, no fixed time, no hassles. Typically a merchant can obtain between $5,000 and $300,000 per location.  The amount depends solely on your monthly VISA/MC sales volume.

 

You can you use the money for, buying out a partner, expansion, advertising campaign, hiring personnel, payroll, emergencies, almost anything related to your business.  Collection of the purchased credit card sales occurs automatically through the credit card processor, which sends the funding company a small fixed, predetermined percentage from each credit card sale. The seamless integration of processing and ease of obtaining working capital is a natural fit and an obvious benefit to businesses that can not acquire traditional funding.  Credit card factoring companies work with both established and expanding businesses to provide working capital to businesses in the small-to-medium sized range that prefer a funding option that aligns with their cash flow.

As you can see, a credit card receivables funding, or merchant cash advance, can potentially be the single best working capital management strategy for obtaining needed cash. This is a vital business financing tool that should not be overlooked.

 

Contact us at www.bedrockfinancing.com or email us at info@bedrockfinancing.com for more information.