A small company cash advance can be your restaurant funding option, when you need quick funding and reduced documentation requirements.
You as an eating place owner have at one time or another been faced with applying for a restaurant mortgage, possibly getting your loan request denied and faced rejection unless you had money to do your own self cafe financing.
Getting startup capital to open a restaurant is much more challenging it is for other non food companies 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 provides you with 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 from the real meaty info with chemical. The information is there online for free for you to 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 attached to the loan or a monthly set payment you have to pay every month. As it is not a small business loan it does not get reported by the finance company that delivers financing to you.
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If you ever need a quick easy to apply unsecured business mortgage or business line of credit that not require you to provide collateral this cash advance product is 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 creditors from knowing you applied for funding and received it, the business money advance or known also as the service provider cash advance is your new solution to how to do it legally any time you need a loan and wish total anonymity.
* 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 each month like you do with a bank
2. Your approval process is in 48hrs not weeks
* You can get financed in about 10-14 days
2. 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 supply financial statements
* No long application like you will get at your nearby bank
* If you are opening the restaurant and you need more funding certain companies provide financing to new start up restaurant owners who are ready to open in a few days and need extra working capital, this is not actually possible with a local banker.
* If you just opened a restaurant 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 made automatically from your credit card merchant accounts through a percentage of each credit card transaction your business makes, does not require you to remember one more payment you have to make reducing stress 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 credit card receivable transactions as an asset and can not lend you money towards it. This product If used correctly it can be a very powerful alternative funding supply when you need financing that is very quick and easy 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 require it and local banks can not contend or provide quick funding due to long drawn out application process as well as the business cash advance is a super fast choice which is free of heavy documentation specifications 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 need that may arise for you.
Many business people do not like using their credit card machine because it tracks most of their transactions and would prefer cash transactions since there is not really a record of this. You see your bank card machine is a tool a 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 supply of 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 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 get between $2, 500 – $6, 000 in 10-14 days.