Four Industries that Benefit from Merchant Cash Advances

Four Industries that Benefit from Merchant Cash Advances

• Jan 21, 2020
• админ
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• Business Loans, Merchant Cash Advance

Electronic transactions have gradually replaced the traditional use of banking notes that have been supplanted by credit and debit cards. Small businesses have, therefore, also shifted most of their transactions to credit cards, partly due to the fact that they are more likely to receive a lump sum, a Merchant Cash Advance, to expand their business and remit an agreed percentage of future credit card sales to the lender. A merchant cash advance is suitable for even smaller businesses where, even if the business is suffering, the owner will only return the agreed percentage of total credit card sales, saving them from any other hassle. Small businesses can also engage their clients by providing added perks through credit card payments.

GARRTECH FUNDING BUSINESS LOANS: INDUSTRIES THAT BENEFIT FROM MERCHANT CASH ADVANCES:

Hotels 

The hotel industry probably faces the most down payment through credit cards via online booking, especially during on-season. Merchant Cash Advance is a good opportunity for small and large hotels alike to do some ramifications in the off-season which would otherwise cost them a fortune.

Retail Stores

Retail stores often fall into a financial abyss during the off-season. To save them from bankruptcy, they turn to other business owners for a loan with heavy interests. Since most customers pay with their credit cards, a merchant cash advance could prove to be a business saving option. With such borrowed money, the owner can add more employees to prevent any interruptions in daily operations, store everyday products in large quantities and deal with the customer flow through marketing.

Restaurants

The best thing to eat changes with the trends nowadays, restaurants can, therefore, undergo ups and downs variably. People love to eat, and most of them pay through credit or debit cards, so even if the restaurant is facing a financial crisis, the merchant cash advance is the way out.
For starters, the restaurant can use the borrowed money to hire experienced chefs to launch restaurant specials that they can be known for. Extra employees can be hired for a quick drive-thru supply and for home/ work delivery services where initial payments from credit cards are mostly needed. Thus, the restaurants will be able to grow their sales and business without the worry of a big return on loans.

Auto-Repair Stations

The evolving automotive technology forces the auto-shop owners to stay updated with the auto-machines, tools, and equipment to stay ahead of their peers and keep their business running. The upfront cash to buy such machines could cost more than their repair station itself and since vehicle repairs cause unexpected expenses, they end up paying through credit or debit cards, which is a perfect opportunity for the repair station owners to capitalize on Merchant Cash Advance. The funds, then, can be used to buy the necessary equipment, trained staff or technicians and even design a marketing strategy for promotional purposes.

Benefits of Merchant Cash Advance:

Many small businesses other than the ones mentioned can benefit hugely from Merchant Cash Advance which may prove to be futile enough to launch their business towards success. Any business that runs through credit card transactions can use Merchant Cash Advance to improve their business or ride out of a slow season. The lump-sum can be received considerably quickly, where the owners do not require an impeccable credit to receive it. The upside being that there is no risk of credit rating or even risking your assets, the return on lump sum would only be the agreed percentage of total credit card sales. Look no further if your business is suffering, a Merchant Cash Advance might be a lifesaver.

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