We see all different types of businesses apply for a Merchant Cash Advance. While our “typical client” is in the bar or restaurant industry (since the banks don’t loan money on food or alcohol) the more time that passes the more we’re finding that a Merchant Cash Advance works for almost all industries – provided they accept credit and debit as a method of payment that is!
We like to respect the privacy of our clients so we won’t be mentioning names but as new addition to this blog we will be featuring “Success Stories” which will profile a new client each week, their story and how a Merchant Cash Advance helped their business.
We’d like to be able to say that this program works for EVERYONE right from the get go, but that wouldn’t be realistic. On occasion, a business will bite off more than they can chew by agreeing to a daily percentage payment that’s too high and ends up leaving them with too little cash flow.
When selecting a provider, it’s important to find one that’s both responsible with the initial qualification and flexible down the road. Sometimes business owners think they can handle paying 20% of their daily credit and debit card sales but what if your cash sales take a dive and all your customers start paying by cards? All of a sudden you’re paying much more than you planned for. Merchant Cash Advance providers only get paid when you get paid so working with you to ensure your business thrives is in everyone’s best interests!
Every Tuesday we’ll be addressing the most common questions and concerns we hear when talking with clients. Have a question you’d like answered by a Merchant Cash Advance professional? Contact us today!