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 had money to do your own self eating place financing.
Getting startup capital to open a restaurant is much more challenging then it is for other non food businesses or retail businesses. Banks do not like doing restaurant financing period due to the high failure rate associated with restaurant businesses.
The nice thing with all the internet and article directories is that it provides you with immediate access to great loan details and options. You can receive great advice to help you with your restaurant company, if you sort out the fluff through the real meaty info with material. The information is there online for free that you can find and use to your advantage.
How Does The Business Cash Advance Differ From Other forms Of Financing
* It is not a company loan or cannot be called a business loan because there is not an interest rate mounted on the loan or a monthly set payment you have to pay every month.
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Because it is not a small business loan it does not get reported by the finance company that provides financing to you. If you ever need a fast easy to apply unsecured business mortgage or business line of credit that not need you to provide collateral this cash advance method your solution.
* If you ever need to take out a loan for your restaurant and wish to legally keep it 100% totally personal, 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 seller cash advance is your new solution to the way to do it legally any time you need a loan and wish total anonymity.
2. Does not affect your credit score since Experian, Transunion, Equifax, do not know when you take out a business cash advance for your business
2. You do not have to worry about rigid payments each month like you do with a bank
* Your approval process is in 48hrs not weeks
* You can get funded in about 10-14 days
2. You do not have to put up collateral 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 to new start up restaurant owners that are ready to open in a few days and need extra working capital, this is not actually 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 with your local banker.
* Payments are made automatically from your credit card merchant accounts through a percentage of each credit card deal your business makes, does not require you to keep in mind 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… Your local bank does not look at your charge card receivable transactions as an asset and can not lend you money against it. This product If used properly it can be a very powerful alternative funding supply when you need financing that is very quick and straightforward to get.
* Restaurant owners may be in need of a no hassle : quick money source to functioning capital financing for supplies, gear, staff payroll, advertising, when they need it and local banks can not compete or provide quick funding due to long drawn out application process and the business cash advance is a super fast choice which is free of heavy documentation needs and long application process.
Exactly how Not Having Or Limiting The Use Of A Vendor Credit Card Account Can Hurt A person
If you do not have a merchant account, you might 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 since it tracks most of their transactions and would prefer cash transactions since there is not really a record of this. You see your credit card machine is a tool a source to money when you need it quickly.
Simply by not having a credit card machine or simply by limiting the use of it, you are only hurting yourself when you need this source of financing, since if the transactions are to low you will not qualify for this business cash advance when you need it. Try to get your charge 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.