A small business cash advance can be your restaurant funding remedy, when you need quick funding and lower documentation requirements.
You as a cafe 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 experienced money to do your own self restaurant financing.
Getting startup capital to open a restaurant is much more challenging then it is for other non food companies or retail businesses.
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Banks do not like doing restaurant financing period due to the high failure rate associated with eating place businesses.
The nice thing with the internet and article directories is that it offers you immediate access to great loan details and options. You can receive excellent advice to help you with your restaurant company, if you sort out the fluff from your real meaty info with compound. The information is there online for free that you should 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 company loan because there is not an interest rate attached with 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 gives financing to you. 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 method your solution.
* If you ever require 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 creditors from knowing you applied for financing and received it, the business cash loan or known also as the product owner cash advance is your new solution to the best way 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 every month like you do with a bank
* Your approval process is in 48hrs not weeks
* You can get funded in about 10-14 days
2. 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 provide financial statements
* No lengthy application like you will get at your local bank
* If you are opening a restaurant and you need more financing certain companies provide financing to new start up restaurant owners who are ready to open in a few days and require extra working capital, this is not also 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 created 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 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 bank card receivable transactions as an asset and will not lend you money against it. This product If used correctly it can be a very powerful alternative funding source 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 operating capital financing for supplies, equipment, staff payroll, advertising, when they require it and local banks can not contend or provide quick funding due to long drawn out application process and the business cash advance is a super fast option which is free of heavy documentation specifications and long application process.
How Not Having Or Limiting The Use Of A Product owner Credit Card Account Can Hurt A person
If you do not have a merchant account, you might be locking yourself out of a very fast money source for any financial need 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 credit 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 only hurting yourself when you need this source of financing, since if the transactions are to low you will not qualify for e-commerce cash advance when you need it. Try to get your charge 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.