City: Victoria, BC
Advance Amount: $30,000
This client had heard of the Merchant Cash Advance industry before but was pleasantly surprised to find a provider operating locally in BC.
Every spring, fall and winter season she would travel to the United States to do the bulk of her buying and have the merchandise shipped back to Canada to stock her store with. This meant putting out the money, her own money, and waiting to get paid when the merchandise sold. Though she’d been operating that way for a couple of years, she found it difficult to get ahead.
A merchant cash advance is ideal for situations just like this one. Rather than using your own money to finance your inventory and being cash poor in the rest of your life, consider the value in paying off your advance as the products you bought with it sell.
This client uses her merchant cash advance like an operating line of credit. She takes around 3 every year right before she goes on her buying trips. She then marks up her inventory to cover her cost and the advance pays off as the products sell. She no longer has to worry about making her mortgage or car payments and is no longer carrying high balances on her credit cards which she’s unable to pay off. By the time the next season comes around she does a blow out sale to get rid of old and make space for the new!