Your small business cash advance can be your restaurant funding remedy, when you need quick funding and low documentation requirements.
You as a cafe 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 acquired 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 companies or retail businesses. Banks despise doing restaurant financing period due to the high failure rate associated with cafe businesses.
The nice thing with all the internet and article directories is that it gives you immediate access to great loan info 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 substance. The information is there online for free so 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 business loan or cannot be called a company loan because there is not an interest rate attached to 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 delivers financing to you. If you ever need a quick easy to apply unsecured business loan or business line of credit that not require you to provide collateral this cash advance system is your solution.
* If you ever need to take out a loan for your restaurant and want 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 money advance or known also as the service provider cash advance is your new solution to how you can 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
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You do not have to worry about rigid payments each month like you do with a bank
2. 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
* There is no need to provide tax returns
* You do not have to offer 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 even possible with a local banker.
2. If you just opened an eating place 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 transaction 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.
* It allows you tap into a “Hidden Asset” that your restaurant has… The local bank does not look at your bank card receivable transactions as an asset and can 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 simple to get.
* Restaurant owners may be in need of a no hassle : quick money source to functioning capital financing for supplies, devices, staff payroll, advertising, when they require it and local banks can not contend 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.
How Not Having Or Limiting The Use Of A Service provider Credit Card Account Can Hurt A person
If you do not have a merchant account, you happen to be locking yourself out of a very fast money source for any financial need that may arise for you.
Many business owners do not like using their credit card machine since it tracks most of their transactions plus 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.
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 to low you will not qualify for e-commerce cash advance when you need it. Try to get your bank card transaction volume up to a minimum of $3k-$5k per month which means when you need additional fast working capital financing you will be able to get between $2, 500 – $6, 000 in 10-14 days.