How Important Is Cash Flow To Your Business?
Today it is challenging to a lot of small and medium size businesses to grow and expand. While banks are holding on to their money and not lending as much, more and more merchants are going out of business because cash flow is dwindling down. Each business has a set amount of cash flow that they use for everyday expenses such as inventory, payroll, marketing, office supplies, and other things but if that cash flow dips below any merchants comfort level then those merchants need to make a decision either get a loan or cut back on expenses. Most businesses nowadays cut back spending because loans take to long or they just cannot qualify for one.
Without a doubt businesses are the biggest spenders and when businesses start dramatically cutting back this is a big reason why our economy suffers. These aren’t your normal cut backs either, businesses are laying off workers more than ever before, paying employees less money, ordering less inventory, cutting business hours, spending less on advertising, spending less on supplies, and not keeping up with necessary things to make sure their business is running efficiently.
It seems like we’re never going to get out of this rut to a lot of you out there, but just as you feel like giving up solutions do exist for all kinds if business owners out there even ones that may have credit issues. Banks may not be lending, but if your business currently accepts credit cards and have so for at least 6 months or more and you monthly volume exceeds $6,000 dollars in total credit card sales then your business may qualify for Merchant Funding (aka Merchant Cash Advance).
A Merchant Cash Advance is not a loan product and it only takes about 5 to 7 business days before a business receives its funds. The pay back is based on a percentage of future credit card receiveables and the percentage taken out of the receiveables depends on how quickly a business would like to pay back the advance. The overall cost is not much more then a bank loan and it is much quicker giving businesses the cash flow they need when they need it.
I will admit I was very skeptical about a Merchant Cash Advance. However as I researched it more and more and realized that banks just aren’t lending and seeing so many businesses suffer because they just don’t have the right amount of cash flow I now know how important this funding solution is to businesses.
The ideal merchants for a Merchant Cash Advance are Brick and Mortar such as Restaurants, Automotive Shops, Retail Stores, Lodging, and possibly others not mentioned. It helps businesses pay for expenses, inventory, advertising, supplies, and much more.
The reason I wrote this blog today is to let businesses know that cash flow is important to its existance and cash flow solutions are available. To learn more about a Merchant Cash Advance and how it will benefit your business click here.
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