A small company cash advance can be your restaurant funding alternative, when you need quick funding and low documentation requirements.
You as an eating place owner have at one time or another been faced with applying for a restaurant loan, possibly getting your loan request denied and faced rejection unless you experienced money to do your own self cafe financing.
Getting startup capital to spread out a restaurant is much more challenging then it is for other non food businesses or retail businesses. Banks despise doing restaurant financing period due to the high failure rate associated with cafe businesses.
The nice thing using the internet and article directories is that it gives you immediate access to great loan information and options. You can receive excellent advice to help you with your restaurant business, if you sort out the fluff through the real meaty info with element. The information is there online for free so that you can find and use to your benefit.
How Does The Business Cash Advance Differ From Other Types Of Financing
* It is not a company loan or cannot be called a company loan because there is not an interest rate attached with the loan or a monthly set payment you have to pay every month. Since it is not a small business loan it does not get reported by the finance company that gives financing to you. If you ever need a fast easy to apply unsecured business loan or business line of credit that not require you to provide collateral this cash advance method your solution.
* If you ever require out a loan for your restaurant and wish to legally keep it 100% totally private, prevent it from showing up in the 3 credit bureaus, prevent other lenders from knowing you applied for financing and received it, the business cash advance or known also as the service provider cash advance is your new solution to the best way to do it legally any time you need a loan and wish total anonymity.
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* Does not affect your credit score since Experian, Transunion, Equifax, do not know when you remove a business cash advance for your business
2. You do not have to worry about rigid payments every month like you do with a bank
* Your approval process is in 48hrs not weeks
* You can get funded in about 10-14 days
* You do not have to put up collateral just like you do at a bank
* You do not have to provide tax returns
* You do not have to provide financial statements
* No long application like you will get at your nearby bank
* If you are opening a restaurant and you need more funding certain companies provide financing in order to new start up restaurant owners who are ready to open in a few days and need extra working capital, this is not even possible with a local banker.
2. If you just opened a cafe and need more cash flow funding to help you make your leasing obligations for a few months with your casual eating business, it is possible and not once again along with your local banker.
* Payments are created automatically from your credit card merchant accounts through a percentage of each credit card deal your business makes, does not require you to remember one more payment you have to make reducing tension and worries about making past due payments and paying a penalty.
2. It allows you tap into a “Hidden Asset” that your restaurant has… The local bank does not look at your credit card receivable transactions as an asset and will not lend you money towards it. This product If used properly it can be a very powerful alternative funding resource when you need financing that is very quick and easy to get.
* Restaurant owners might be in need of a no hassle – quick money source to working capital financing for supplies, equipment, staff payroll, advertising, when they need it and local banks can not compete or provide quick funding because of long drawn out application process as well as the business cash advance is a super fast choice which is free of heavy documentation needs and long application process.
Just how Not Having Or Limiting The Use Of A Product owner Credit Card Account Can Hurt You
If you do not have a merchant account, you happen to be locking yourself out of a very fast money source for any financial require that may arise for you.
Many business people do not like using their credit card machine because it tracks most of their transactions plus would prefer cash transactions since there is not a record of this. You see your bank card machine is a tool a reference to money when you need it quickly.
By not having a credit card machine or by limiting the use of it, you are just hurting yourself when you need this way to obtain financing, since if the transactions are to low you will not qualify for e-commerce cash advance when you need it. Try to get your credit card transaction volume up to a minimum of $3k-$5k per month which means when you need additional quick working capital financing you will be able to obtain between $2, 500 – $6, 000 in 10-14 days.