Merchant Cash Advance Program Can Now Accommodate Payment through a Percentage of Receivables
Sometimes it seems like the world is changing faster than you can accommodate your business to handle. Fortunately, not all change is bad. For example, there is now a merchant cash advance program that can now accommodate payment through a percentage of receivables.
Regulations that affect how you make payroll, protecting yourself from data breaches and laws concerning independent contractors are just some of the issues your business must deal with and it can all get very confusing. One aspect that is easier to manage is the new way to accommodate payment through a percentage of receivables thanks to a new merchant cash advance program.
What You Need to Know about a Merchant Cash Advance
As a small business owner, you know that the ability to obtain fast and easy business loans can be the deciding factor in whether or not your company is successful. Sadly, traditional banks grant only about 20 percent of the small business loan applications they receive. For the rest of us, alternative lenders and merchant cash advance companies have done a great job in closing this funding gap.
A merchant cash advance can provide quick business funding for things like growing inventory, purchasing equipment, marketing initiatives and expansion. It is a terrific option for times when you experience a slow sales cycle, temporary cash shortage or if you have been deemed too risky by traditional lenders due to bad credit or lack of collateral.
How Financing Solutions Makes it Easier to Manage a Merchant Cash Advance
Typically, a merchant cash advance involved getting upfront capital in exchange for a portion of future credit card sales. Financing Solutions (www.financingsolutionsnow.com) has announced that it is now able to accommodate merchant cash advance pay backs using a percentage of customer receivables instead of the traditional daily payments.
Managing partner Stephen Halasnik said” Many of our clients have fluctuations in their receivables. By taking a percentage of the weekly receivables, we can help businesses reduce the hassles of a daily repayment. As a result, it reduces bounce fees.”
Halasnik added, “Financing Solutions and our clients are both on the same page. We don’t want their payments to bounce, so if there is a cheaper way for us to work together, then that is what we want”
With this more flexible repayment method, Financing Solutions is now an even better option for short term business financing. Many businesses turn to them again and again for immediate cash flow needs.
How to Accommodate Changes in Your Business
During your time in business, you have likely seen many companies come and go. The best way to save your business from the same fate is by adapting to changes.
One way to do this is to periodically review your business strategy. Are you keeping pace with what your customers need and how they want to do business? Has a new competitor entered the scene? It may be necessary to slightly shift your operations or even change your overall philosophy in order to survive.
You should also seek out new technology to make things easier for both your employees and your clients. It is vital to do your research and find tools that will make your business better. Most importantly, you must do this before your competitors do.
Getting quick business funding from Financing Solutions is perhaps the easiest way to identify new opportunities and make important changes for your company. With fast cash, you can adapt and stay on top of your game.