What Makes Merchant Cash Advances A Popular Solution for Trucking Company Funding?

Are you the owner of a commercial trucking company in need of quick business funding? As you may already know, cash is premium in the trucking industry but banks and other traditional money lenders are not the best sources for funding, especially in an emergency situation. Read on to know why hundreds of business owners have found merchant cash advances helpful for commercial trucking company funding.

Quick Funding To Finance Business Activities

There are many situations where you may require quick and easy commercial truck business financing. For example, you may want to add more trucks to your fleet, scale up your warehouse, add additional routes, commission routine maintenance/repair activities, maintain a staff of competent and professional drivers, or pay for emergency repairs and spares. Many of these activities help business owners improve services and grow. However, accessing quick and easy funding is easier said than done – especially for smaller trucking businesses – even if your company is generating strong business revenues.

Simple Processes for Application and Fund Dispersal

Commercial trucking companies greatly contribute to the US economy. However, banks and other traditional money lenders consider them to be high risk. Moreover, procedural delays are a hindrance to obtaining quick and easy commercial truck business financing when business owners need funding the most. A merchant cash advance is an excellent alternative funding solution for established trucking business owners who need cash quickly and easily. The application process for merchant cash advance takes just a few minutes and as long as you can show healthy business revenues, you have a high chance of getting approval for funding. The funding amount is typically wired to your business bank account within four to seventy two hours and you are free to use the amount for any upfront business expense.

Often Come With Flexible Repayment Terms

A trucking business cash advance is unique in many ways. For one, approval is based on historical business revenue and not credit score. Also, you don’t have to put up anything as collateral which a bank will most certainly ask you for. Merchant cash advance is more like an advance on future receivables and comes with a flexible repayment structure. You may be able to pay back the amount more quickly or slowly depending on receivables. If you have more revenue coming in, you can remit the advance more quickly and if you’re having a slow season, you can pay back the money slowly. 

Available To Businesses of All Sizes

Trucking business cash advance is a great financing solution for small owner-operators and independent contractors who do not have the resources of large commercial trucking companies. Larger companies may be able to put up the collateral that banks and other traditional money lenders require or they may be able to absorb downtime due to their large fleet. Merchant cash advance allows small owner-operators and independent contractors to stay competitive in the industry and make plans for growth. However, this does not mean that large trucking companies cannot access merchant cash advance. The best merchant cash advance companies offer financing to businesses of all sizes.

For best outcomes, turn to an experienced provider offering quick and easy trucking company funding!

How Do Merchant Cash Advance Companies Help Business Owners with Bad Credit Rating?

Are you a small business owner with less-than-perfect credit trying to access business capital? You’re unlikely to have much success with banks and other types of traditional money lenders. Thankfully, there are alternatives and merchant cash advance companies are one of the most relevant sources to get quick and easy funding, even if you have bad credit history.

Credit Score Is NotThe Primary Approval Criteria

A cash advance for business owners involves repayment of advanced amount from future business receivables. It is an attractive financing solution for owners of existing businesses who simply need to provide details of historical business receivables. Unlike traditional money lenders, companies that offer merchant cash advance to bad credit business owners do not take into account details such credit score or ask for collateral. In fact, these companies welcome funding requests from what many others consider to be high risk clients and even have high approval rates.

Can Be Used for Various Business Activities

Merchant cash advance companies understand the unique circumstances small business owners find themselves in. While bad credit is a stumbling block to access required funding, the need for capital is all too real. Business funding is required for various reasons such as working capital, payroll, purchasing inventory, expansion, upgrades, hiring additional employees and tiding over emergencies. Many of these activities lead to growth and allow small business to compete with larger players. Cash advance companies understand this and offer a hassle-free application process. Upon approval, they transfer funds to your business bank as quickly as four hours or within 2-3 business days in most cases.

Different from Traditional Banking Instruments

A merchant cash advance for business owners is not a traditional financial banking instrument in the typical sense. Services offered by banks and traditional money lending institutions usually come with fixed amount repayments and strict repayment schedules. A cash advance is a more flexible solution where remittance is usually a percentage of future receivables and the amount is deducted on a periodic basis. Repayments are done till the entire funded amount and applicable charges are cleared. Usually, it is observed that banks are averse to provide funding for small businesses such as retail stores, restaurants, trucking companies and so on. However, merchant cash advance companies accept funding requests from owners of all kinds of businesses.

How to Apply For Merchant Cash Advance

If you want to apply for a merchant cash advance, the process is very simple. While applying, you will be asked for basic personal and business information. Once you submit your application and the cash advance company pre-approves your application, the company will try to match you with an appropriate lender. You may be asked for additional information pertaining to your business. Once they find a lender, you will be supplied with a contract. Once you accept the terms of the contract, the money will be directly credited to your business bank account. There are no restrictions on how you may use the cash advance – if you’re smart, you’ll use this solution for business expansion and growth activities.

Why Should Small Businesses Consider Merchant Cash Advance Funding?

What financing options do small businesses have when they need fast access to cash? Traditional money lending sources put up several obstacles such as impossible approval conditions and procedural delays. Merchant cash advance financing may be the quick and easy funding solution you’re looking for. Read on to know what makes merchant cash advances so attractive to small businesses.

Simple Online Application Process

A merchant cash advance for business is a simple and effective funding solution for all kinds of existing businesses that need upfront money quickly. While applying, business owners only have to provide basic details such as how long they’ve been in business, total average monthly revenue, how much financing they need and when they need it. Applying for a cash advance is usually free of cost and the merchant cash advance funding request can be submitted online within a few minutes. There is no lengthy paperwork to submit which helps reduce wait time.

Receive Funds within Days, Not Weeks

Unlike when you’re dealing with banks and other traditional money lenders, you don’t need to put up any collateral while applying for merchant cash advance financing. Your funding request will be evaluated on existing sales/revenue volumes. In fact, even high risk businesses can apply for and get quick financing with this solution. If you qualify and agree to the terms and conditions set by the advancer, funds can be wired to your business bank account on the same day if required or within two to three days – it doesn’t get much quicker than that.

Flexible Repayment Schedule

The best companies offering merchant cash advances for businesses offer high approval rates. This is great news for small businesses that may have been turned down by banks and other lenders. If their sales are strong, they have a very good chance of qualifying for merchant cash advance funding. A merchant cash advance isn’t a fixed monthly amount – it is usually based on a percentage of future sales and repayment continues till the entire amount and applicable fees are repaid. Moreover, merchant cash advance solutions come with flexible repayment terms –business owners may be able to repay in smaller amounts in lean season if required.

Smart Ways to Use Funding

There is no restriction on how the advanced amount can be used. Business owners can use the cash advance to access working capital, tide over a financial crunch period, purchase additional inventory, cover unplanned expenses, expand to a new location, invest in a marketing or advertising campaign and much more. If you’re a smart business owner, you may want to use this finance solution to purchase additional inventory at deeply discounted prices or use it as a down payment for opening a branch at a new strategic location that’s just opened up. Small business owners who think they can’t compete with the big players because of limited financing options may seriously consider this solution to aim big and bold.

Do you have a plan on how to use a merchant cash advance? Just visit the website of a reputed company offering this funding solution and submit your application to get fast approval!

Why Auto Repair Shops Select Small Business Funding Than Bank Loans

It is no secret that banks and major financial institutions are careful in dispensing cash advances to clients, especially for the expansion of their business. There is a strict protocol that is followed, and the paperwork goes through different levels of management before any proposal is approved or rejected.

Rigid Financing

Small to mid-size businesses in the USA and other countries have a constant need for finance, which is essential if they are to maintain their normal amount of sales or services. Successful businesses need constant replenishment of stock as well as excellent sales to ensure a healthy profit. Businesses such as an automobile workshop are always in need of good cash flow, but with banks being too rigid in providing cash advances, getting auto repair shop financing from non-bank financing lenders seems like a good alternative.

Cash Advance For Auto Repair Shops

Due Diligence

A definite way to succeed in getting automotive business financing is to show the company, projected sales, current business profits, reasons for the estimated expenditure, and the time period needed to get the required profitability. These finance companies will do the necessary checks as well as due diligence to ensure they meet their parameters before granting access to the required funding as quickly as possible. Having received the required funds, which are usually transferred directly to your bank account, the repayment part of the agreement kicks in.

Quick Payments

Regarding cash advance repayment schedules, your auto repair shop will need to ensure that a percentage of your future receipts from sales and/or services rendered goes back to the finance company. This kind of micro business funding is proving to be very popular with small and medium-sized businesses, as it avoids a lot of time wasted in providing paperwork and guarantees. As a business owner, you will receive your required finances very fast, in some cases, within four hours!

Top Reasons For Nightclub Owners To Consider Cash Advance As Business Financing Solution

Struggling to obtain nightclub business financing? Banks and other traditional moneylenders indeed make it virtually impossible for small business owners to access quick and convenient financing. In such a scenario, a merchant cash advance could be the perfect financing solution for your needs.

Need For Quick Nightclub Financing

Owning a nightclub can be very exciting and profitable, but the nightclub industry is also highly competitive. Nightclub owners need to keep up with current trends to provide a better experience and atmosphere in their place of business. At times, there are unforeseen costs that require additional working capital. Sometimes, new opportunities for growth may open up unexpectedly – for example, an opportunity to open at a new location. However, owners are not always asset-rich, which can make it difficult to obtain nightclub financing from banks and other traditional lending sources.


How A Cash Advance Can Help You

A merchant cash advance is a convenient financing solution that allows nightclub owners and other small business owners to access working capital quickly. Unlike banks, companies that dispense merchant cash advances do not have credit-based approvals. Instead, they look at historic business revenues to make approvals. Banks usually have a long application process and require a lot of documentation for approvals. Applying for small business funding online using the cash advance solution takes just a few minutes, and there is no cost of application. Another advantage is that repayments of cash advances are made from future sales. Repayments are not based on interest rates, and customers can take advantage of flexible payment structures.

With the merchant cash advance solution, you can obtain nightclub business financing as quickly as within four hours to three days. The best companies help clients get a funding partner and offer cash advances of various sizes. For more information, get in touch with a leading company offering quick and easy merchant cash advance solutions!

Benefits Of Using Merchant Cash Advance For Small Businesses

As per the current records of the Small Business of America’s Office of Advocacy, there are approximately 30.2 million small businesses in the USA; small businesses make up around 99.9% of all businesses in the USA. This is a massive statistic, showing the importance of small businesses and their contribution to the economy by providing jobs for millions. Like all kinds of businesses, they too have their ups and downs; there are thousands of new businesses that start up each year, but along with that, there are a whole lot of closures too.

Merchant Cash Advance

Like all companies, it is no surprise that small to medium-sized businesses require steady cash flow to stay in business, as it covers a lot of expected and unexpected expenses daily. These funds are vital to keeping the industry running, as it pays suppliers, keeping up inventory, and for planned business expansion. To ensure that the business has ready cash when needed, they use the services of business funding companies. Over the years, more and more small businesses have come to rely on merchant cash advance companies or MCA’s as their best hope to get out of sudden tricky situations. The big advantage of using an MCA is that depending on individual companies, they can provide cash advances of varying sizes; however, these payments are not based on the customer’s credit scores or by providing any sort of collateral.

Merchant Cash Advance Companies

Streamlined Credit Procedures

Based on individual small businesses, if they have an acceptable credit history and can demonstrate good overall sales, then they are eligible for merchant cash advance funding. If all the paperwork requested is good, a small business owner is in line to get a merchant cash advance from 4 hours to 3 business days. These cash providers have their system that checks up on the submitted papers before providing the advance as quickly as possible. In recent times, merchant cash advance businesses have come up with a positive alternative for business funding, which is not based on any kind of collateral or credit rating scores. The small business receives the asking amount once the agreement is signed, and the return is based on overall sales in the business every month, till the pre-decided figure is reached.

Easy Online Applications

An easy way to understand merchant cash advance is that it allows small businesses to borrow funds immediately against future income from the business; in other words, the financier is advancing the funds even before the business has received any income from sales. With thousands of small businesses coming into the market every day, business funding companies have streamlined the cash advance process to ensure there is no inordinate delay. In some cases, the merchant cash advance companies even provide online business funding applications with all the required information on their website, making the whole process even faster and professional. It’s not only a safe and secure process, but it also takes away the stress-factor!

Advantages Of Small Business Funding For Commercial Freight Companies

It is not a well-known fact, but nearly 50% to 70% of all goods freight in the USA are moved by trucks. Currently, trucking companies, big, medium and small need to stay ahead of stiff competition, in order to remain profitable.

Better Profit Margins

Major expenses like fluctuating fuel prices, spare parts, and maintenance can bite into profit margins and make it difficult to sustain growth. Banks have proven to be very strict with their lending requirements, especially for small to medium-sized trucking companies. Fortunately, there are private trucking business funding alternatives to these financial institutions that help these businesses keep their trucks on the road, provide salaries for their drivers and technical staff, and other expenses.

Trucking Business Financing

Room For Expansion

It is no secret that moving products by trucks are the safest and most economical way in the USA, so it makes sense to find trucking funding for business owners when the time comes to expand, renew and reorganize these businesses. Trucking is a very labor-intensive business, especially when it comes to loading, unloading, spare parts, maintenance, fuel, tires, etc., and all this while maintaining a small to medium fleet of trucks along with drivers to keep the company’s logistics schedules on schedule.

Variable Company Size

These truck funds provide business owners the money needed to purchase, manage, and maintain their vehicle fleet, which is vital if the company has to succeed. The process of getting a trucking company funding involves getting all the paperwork, books, insurance premiums for equipment and employees, and other monthly financial data ready for the financial institution to go over before they approve the advance. Leading providers offer advances in just about four hours to three business days. Based on their reputation, financial companies have provided trucking advances to very large fleet companies right down to an owner/driver of a single truck.

How to Grow Your Business with a Merchant Cash Advance

Businesses with bad credit history might struggle to keep it viable. Generally, a small business that does not have a good credit score faces many difficulties in being eligible for a loan from conventional sources. Read on to figure out how the option of a merchant cash advance in a bad credit scenario can help your business to profit and grow. 

Credit Scores: Impact on business

Bad credit usually indicates that you have had a history of failing to repay past credit obligations. If you apply for a loan through a conventional commercial lender, you may find it challenging to get an approval. An alternative financing method is a merchant cash advance (MCA). When looking for a merchant cash advance in a bad credit situation, all you need is a credit application and a few month’s merchants or bank statements. You can use the advance to sustain or expand your business, for working capital, payroll, purchases, for hiring employees, or relocating your business from one location to another. This flexibility will help you see your business in a whole new light, and it opens up opportunities that you may not have considered before.

Merchant Cash Advance: How Does it Work?

Merchant cash advance companies offer you a sum of cash up-front that can be used for any business purpose you choose. Businesses such as restaurants, retail shops, night clubs, garages, and other such businesses whose revenue comes from overall sales can use this facility to expand or sustain their business. Repayment can be made with a portion of your company’s forthcoming sales. Even if you have a less than perfect credit rating, it doesn’t matter as a merchant cash advance can actually help you repair your score. Look at it as an advance on the future sales of your business. 

Repayment: Flexible Cost Structures

Merchant cash advance companies do not have a pre-determined end date for repayment as it is based on the retrieval rate, a percentage of each day’s sales. Repayments are structured in two ways. One method is the ACH (automated clearing house) withdrawals. Here you can remit a fixed amount of daily or weekly debits along with fees from your bank account until the advance is paid in full. How much you will pay in fees depends on your ability to repay the merchant cash advance. Merchant cash advance lenders will determine the factor rate based on its risk assessment. Another method is the percent of overall sales. The funders automatically deduct a set percentage of your overall sales until the agreed-upon amount is paid back in full. The higher your sales, the faster will be the repayment. 

The good news is that flexible cost structures give you a lot of flexibility and don’t come with the in-built stress of dealing with a conventional financial institution that usually puts you through tons of paperwork and excessive delays. With a merchant cash advance, you can start planning for the future and take back control of your business in the best way possible. 

What Are Some Must-Know Facts About Merchant Cash Advance Financing?

If you are a small business owner who is looking for fast funding options, you may have considered merchant cash advance funding. Let’s take a closer look at this popular funding option and how it can help your business grow and sustain profitability.  

Merchant Cash Advance – An Alternative Funding Option

During the business cycle, there may be multiple points at which you will require immediate cash to cover a short-term expense. Merchant cash advance financing comes in handy at these times, especially as traditional financial institutions will always pursue low-risk projects. MCA funders evaluate the risk and credit criteria differently. Therefore, it remains a good option, especially for small businesses with inconsistent sales or those that don’t possess capital assets such as the property, which can be used as collateral.

What Is a Merchant Cash Advance?

A merchant cash advance for small businesses, also known as a business cash advance, offers an advance against future sales. In other words, a lump-sum payment is given to a small business that has a steady volume of overall sales. The amount is agreed upon in exchange for a percentage of future revenues or sales. MCAs are friendly to small businesses as you can get your money fast, and it is easy to qualify. Merchant cash advance funding is not usually based on your credit score or collateral, and these will not determine your eligibility for funding. These advances are specifically given to existing businesses that have cash requirements for acquiring new stock, relocating to a new location, or to meet payrolls, etc.

Merchant Cash Advance Benefits

A merchant cash advance for small business is issued very quickly, usually within four hours or up to three business days, with no cumbersome paperwork. Fund providers look at overall sales receipts to determine whether you will be able to repay. They are usually interested in your sales history rather than credit history. Flexible payments are another advantage. Even if your repayment plan is based on daily sales, you have the flexibility to adjust the amount, in case your sales are low. It covers risks such as fluctuations in sales or seasonal sales. The amount received as MCA can be used to cover any business expenses you choose. Merchant cash advance financing is an unsecured funding method, where you don’t have to provide collateral such as business equipment, inventory, or property. This means your assets are not forfeited even if the sales are low or you fail to repay. 

Cost Structure of Merchant Cash Advance Financing

The repayment cost structures are flexible. MCAs can be structured as split withholding repayment or lock-box repayment. With regard to split withholding repayment, the funder splits each day’s revenue with the merchant. Whereas, in the lock-box repayment method, the deposits are put into funder’s account and shared by merchants and financiers, which makes the repayment flexible. The repayment of advance is based upon a percentage of the weekly or daily balance in the merchant account. The more transactions a business does, the faster it will be able to repay the advance. Thus, the repayment is tailored to suit the flow of your business transactions. 

How Liquor Store Financing Helps Grow Your Business

Liquor stores are a good option for business owners who want to generate a steady income. However, it is not the easiest business to run, which is why liquor store purchase financing is a good option to explore.

It Is Not Always Spirits and Bubbles

When it comes to running a successful liquor store, several aspects need to be addressed. Do you have adequate funds to stock the right amount of inventory even during peak seasons? Do you have the financial backing to handle employee payrolls from month to month? Can you meet unexpected expenses related to the business that may occur from time to time? Liquor store business financing can help with all that and more.

Liquor License Costs and Requirements

Procurement of the necessary licenses to run a retail liquor store can sometimes be complicated and expensive. This is one reason why many stores fail to succeed and eventually have to close shop. Some several laws and regulations govern these licenses and often it becomes necessary to invest in the services of a lawyer or consultant to help with the same.

Liquor Store Financing
Liquor Store Financing

Location and Expansion

A good business is one that is constantly innovating and growing. A cash advance will be of great use when you want to open a store in a new city or a different part of the same city. With liquor store business financing, you can look at moving to a premium location which will then attract more customers to your store. Rather than stressing over lengthy approval processes and delays by traditional banks, you can rely on a dependable alternative lender who offers financing with no hidden costs.

Crest Hill Capital is your answer to meet any cash advance requirement for your liquor store. For more details call 800-828-0452 today.