& Merchant Cash Advance for Hospitality industry
kind of business needs a continuous inflow of money for survival.
Larger businesses have a sound financial planning and backup. On the
other hand, small business entities have an ever- existing problem of
working capital. They need Unconventional Funding Solutions, as they
try to expand and sustain in the highly competitive market.
financial institutions and banks decline them bank loans as many
small businesses are considered to come in the high-risk category.
The important thing is that these businesses, have a sustainable
business plan and they do earn money but it is not enough to fulfill
a seasonal requirement of cash. For example, a catering business may
need a big amount of money to fulfill the basic inventory in place
for a wedding season. But their past credit history may be negative
and banks may refuse to give them a loan.
the other hand, Merchant Cash Advance will be a great idea as it is
given against repayment from the future credit card sales.
where MCA and BCA can help
and other financial institutions work completely on the basis of
credit history. They refuse loan when they think that the business
belongs to a high-risk category or approve a loan at a very high rate
of interest. But in such situations BCA and MCA can help:
bad credit history of the owner or the negative personal credit card
history does not matter.
is an aspect that prevents banks from giving a loan again, yet MCA
looks ahead at a positive future plan and gives the much-needed
you have had multiple NSF, even then you can qualify for the MCA or
if there are multiple liens against the business account, the
company can get this credit help against the future receivables.
businesses fight a continuous battle against fund crunch just to
survive and expand slowly. They need working capital at short notice,
for many reasons even to continue their daily operations or seasonal
exigencies. It could be for any of the following reasons:
Equipment or Repair/ upgrade
Products or Services
for the business to fulfill seasonal increased requirements
Expansion/ renovation/ opening new location
salaries or hiring some employees.
much money can you get?
amazing aspect of this kind of funding is that there is no fixed
limit on the kind of help you can get. If the amount is not enough
for an urgent need then the lenders may even consider 1st, 2nd, 3rd,
4th, 5th Positions as they understand the needs of a small company.
As long as the borrower can show a good plan for future and the
funders can see with certainty that the borrowing company will indeed
be able to pay for their credit card sales.
amount may be anything from 5000, 10000 to 50000 Dollars, depending
upon loan terms and requirement of working capital.
is very easy
is neither a fixed term of repayment nor fixed amount to be repaid
every month. The repayment is based on a method called credit card
factoring. Most of these small businesses do not have fixed income
and yet they do have regular money coming in. So every time there is
a sale and some income is there, a small amount goes towards the
repayment of the credit card itself. This is also one factor that is
considered before approving the monetary advance, that you do have a
good potential income coming through.
could be seasonal incomes, like during Christmas, or wedding seasons,
when catering businesses have a good amount of demand. Rest of the
year they do not need many employees or inventory. But during
specific periods during a year, they need to hire people and buy more
resources to fulfill the increased demand. They can use the MCA and
repay it through the sales happening immediately. This arrangement
works for small businesses. The banks and large institutions may
refuse a loan, even if they have a good potential as the past record
may not be good or if the person had a bad credit record or high NSF.
are many benefits of using MCA or alternative business finance
solutions. Our company is a well-known name in this arena of
alternative business solutions. We can guarantee you financial
assistance without a guarantee.
are some of the advantages that we can provide, when you come to us.
can use the money without constraint. Once we approve the money, you
can use it any aspect related to the business. It can be used to pay
a previous credit, expansion or payroll or for inventory.
is done within 24 hours. We approve the advance and the amount is
credited to your account as quickly as possible, as we realize the
urgent requirement of money.
do not need any collateral or guarantee. The loan is approved
against future receivables and so past records are also not so
is no application fee and we do not charge any processing fee. Our
charges are recovered from the amount being repaid. Interest Rates
are also very competitive and as low as possible.
repayment is also conveniently planned so that a small business does
not have to feel the pressure of repayments and a fixed time if they
do not have enough money. They pay only when they make a sale. Some
amount of the credit card receivable is deducted and credited to our
entire process is completely automatic. There are no reminders, and
no pressure from us to repay the loan. As you expand and earn more,
we get repaid sooner.
approval rates are very high as we do not worry about the past
financial records, bankruptcy or credit score.
we think about is a viable business plan. A business that shows good
potential is eligible to get some financial backing. Small businesses
find it really difficult to get some money as they may not even be
aware of such alternative solutions and traditional financing
institutes do not favor them.
if you are wondering where to go for a short-term alternative
financing solution then check our website and you will find a
customized solution for your monetary needs.