Your own business cash advance can be your restaurant funding answer, when you need quick funding and low documentation requirements.
You as a cafe owner have at one time or another already been faced with applying for a restaurant loan, possibly getting your loan request refused and faced rejection unless you had money to do your own self cafe financing.
Getting startup capital to spread out a restaurant is much more challenging it is for other non food businesses or retail businesses. Banks do not like doing restaurant financing period because of the high failure rate associated with cafe businesses.
The nice thing with all the internet and article directories is that it offers you immediate access to great loan information and options. You can receive great advice to help you with your restaurant business, if you sort out the fluff through the real meaty info with chemical. 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 business loan or cannot be called a business loan because there is not an interest rate mounted on the loan or a monthly fixed payment you have to pay every month. Because it is not a small business loan it does not obtain reported by the finance company that delivers financing to you. If you ever need a fast easy to apply unsecured business loan or business line of credit that not need you to provide collateral this cash advance product is your solution.
* If you ever require 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 creditors from knowing you applied for financing and received it, the business money advance or known also as the seller cash advance is your new solution to tips on how to do it legally any time you need a mortgage 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
* 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
* There is no need to provide tax returns
* You do not have to give financial statements
* No lengthy application like you will get at your local bank
* If you are opening the restaurant and you need more financing certain companies provide financing in order to new start up restaurant owners that are ready to open in a few days and need extra working capital, this is not even possible with a local banker.
* If you just opened a cafe and need more cash flow financing 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 account 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 stress and worries about making late payments and paying a penalty.
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* It allows you tap into a “Hidden Asset” that your restaurant has… Your local bank does not look at your bank card receivable transactions as an asset and will not lend you money towards it. This product If used correctly it can be a very powerful alternative funding resource when you need financing that is very quick and simple to get.
* Restaurant owners might be in need of a no hassle — quick money source to working capital financing for supplies, products, 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 option which is free of heavy documentation requirements and long application process.
Just how Not Having Or Limiting The Use Of A Merchant Credit Card Account Can Hurt You
If you do not have a merchant account, you happen to be locking yourself out of a very quick money source for any financial need 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 a record of this. You see your charge card machine is a tool an useful resource to money when you need it quickly.
By not having a credit card machine or simply by limiting the use of it, you are just hurting yourself when you need this way to obtain financing, since if the transactions are usually 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.