Why a Credit Card Advance is Limiting for a Business
You became a small business owner because you didn’t let anyone limit your dreams. So why would you choose a credit card advance, which can be limiting for a business?
When you are in need of business cash fast, your options are slim. One of the quickest methods may be a credit card advance. However, you should be aware that these can be restrictive and inadequate.
What’s wrong with a Credit Card Advance?
It may seem convenient to choose the cash advance option from your credit card. We use credit cards every most day, so it seems almost natural that we would turn to them when in a financial bind. On the contrary, getting a credit card advance can actually cause more harm than good.
For one thing, most credit card companies will give you a very small amount in a cash advance. This is probably not going to be helpful as real emergency business funding. In addition, you are always personally liable.
Another disadvantage is that a credit card advance is charged differently than a normal credit card purchase. There is a higher interest rate and no grace period. This means that interest starts to accrue the moment you make the withdrawal. Therefore, you won’t have the chance to pay it off in full to avoid additional charges.
Is There an Alternative to a Credit Card Advance?
A better option for quick business funding is to get help from Financing Solutions (www.financingsolutionsnow.com). They can give you a business cash advance or line of credit.
With Financing Solutions, you can get the fast business cash you need in less than 48 hours. They also offer an easy application process and flexible repayment schedules.
How to Prevent Limits on Your Business
As a small business owner, you have a lot on your plate. Customers are counting on your product, employees are relying on payroll and key stakeholders are expecting profits. With so much responsibility, it’s hard to find time to think about how you will grow. The first thing to do is remove all limits to your success.
One of the biggest limits to overcome is fear. You must develop the right skills to move forward and then, trust your instincts. Like they say, nothing ventured, nothing gained. Of course, you are smart to research a new idea or opportunity but, at some point, you must take action. To prevail over this kind of anxiety, you can either hire a manager to make the tough decisions or get a mentor to coach you through them.
Market conditions can also be limiting. A slow economy, decreased demand or increasing cost of materials may serve to hold you back. You can conquer some of these problems by being flexible and learning to adjust. Give customers a different way to use your product or offer rewards to them for continuing to do business with you. Encourage their reviews and recommendations. Just remember: Microsoft, General Electric, FedEx and Revlon were all started during a recession.
For most businesses, a shortage of capital is the single biggest impediment to growth. This can be managed with a business cash advance from Financing Solutions. They will help you break down those barriers so that the sky’s the limit.
Financing Solutions LLC is not endorsed by and is not recommended by Federal Express Corporation and Fedex Ground. Financing Solutions LLC is not sponsored by, is not approved by, is not associated with, and has no connection whatsoever with Federal Express Corporation or Fedex Ground.