Your own business cash advance can be your restaurant funding answer, when you need quick funding and reduced documentation requirements.
You as a restaurant owner have at one time or another been faced with applying for a restaurant loan, possibly getting your loan request refused 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 it is for other non food businesses or retail businesses. Banks despise doing restaurant financing period because of the high failure rate associated with restaurant businesses.
The nice thing with the internet and article directories is that it provides you with immediate access to great loan information and options.
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You can receive excellent advice to help you with your restaurant company, if you sort out the fluff in the real meaty info with substance. 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 forms 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 set payment you have to pay every month. Because 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 fast easy to apply unsecured business loan or business line of credit that not require 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 private, prevent it from showing up within 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 to do it legally any time you need a mortgage and wish total anonymity.
* 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 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
* 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 supply financial statements
* No long application like you will get at your nearby bank
* If you are opening a restaurant and you need more financing certain companies provide financing in order to new start up restaurant owners who are ready to open in a few days and require 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 dining business, it is possible and not once again together 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 remember one more payment you have to make reducing tension and worries about making late payments and paying a penalty.
* 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 can not lend you money against 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 might be in need of a no hassle : quick money source to operating capital financing for supplies, equipment, staff payroll, advertising, when they require it and local banks can not compete or provide quick funding due to long drawn out application process as well as the business cash advance is a super fast option 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 You
If you do not have a merchant account, you might be locking yourself out of a very quick money source for any financial require that may arise for you.
Many company 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 bank card machine is a tool a resource 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 usually 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 quick working capital financing you will be able to obtain between $2, 500 – $6, 000 in 10-14 days.