What Can Merchant Cash Advances Be Used For?
Many of the options available for financing a business come with strict usage constraints or long, drawn out application processes which may require you to submit form after form and provide a seemingly endless stream of documentation — only to find out that for one reason or another, your organization does not qualify for a business loan or line of credit.
Merchant cash advances can be used for nearly any business purpose, making it one of the most flexible business finance tools available to organizations that accept credit and debit cards from their customers. Plus, most applicants can be approved since programs are based on sales trends instead of credit scores and collateral. Here are three common reasons merchants seek out cash advance financing.
Financing Equipment Purchase, Repair or Replacement
Broken or failing equipment can take your business out of the game. Fast approval and fast funding make merchant cash advances a good option for financing a business that wants to replace or repair equipment or even add new equipment to grow.
Utilizing merchant cash advances for equipment financing could make it possible for you to offer new products or services to clients, or to replace obsolete or broken equipment to lower operating costs and ensure that your day to day operations can continue.
Adding New Products or Services or a Larger Stock of Inventory
New opportunities often emerge quickly; and when they do, fast access to working capital can make the difference.
Merchant cash advance business financing can be used to buy in new lines of inventory or expand inventory levels. By adding new inventory or additional inventory you can grow sales by attracting new customers or increasing sales to existing customers.
Expanding a Business
Leveraging future credit card sales to obtain funding for your organization could allow you to expand your business by adding square footage at your current location or opening additional locations, enabling you to increase the reach of your business and ability to serve members of your target markets.
There are countless options for business growth available to the merchants who take advantage of our business financing tools. Use our merchant cash advance calculator to find out how much working capital your organization might qualify to receive using any of our cash flow and working capital financing programs.