Running an online store can be a cash-intensive endeavour.
With a constant need for inventory, marketing campaigns, and manpower, it’s critical to have a reliable source of funds.
The good news is that a Merchant Cash Advance could be the financial solution your online business needs.
Below, we’ll explore compelling reasons why you should consider this alternative funding method.
1. Flexibility in Repayments
Traditional loans come with a rigid structure, requiring you to pay a fixed sum each month.
With a Merchant Cash Advance, however, the repayments are based on a percentage of your daily sales. This means that during slow sales periods, your repayments are automatically reduced, offering respite to your cash flow.
2. Quick Access to Funds
In contrast to the lengthy process of securing a bank loan, Merchant Cash Advances promise quick approval times. Often, you can access the needed funds within a matter of days, enabling you to jump on time-sensitive opportunities such as discounted inventory purchases.
3. Zero Security
Traditional bank loans may demand security, putting your assets at risk in the event of payment defaults. Merchant Cash Advances, on the other hand, don’t require assets as security, offering a risk-averse way to secure your funding needs.
4. Hassle-Free Application
The application process for a Merchant Cash Advance is usually straightforward.
A simple online form, basic business credentials, and you’re good to go. With The Funding Store, it’s easier than ever.
5. Credit Score-Friendly
Unlike bank loans, Merchant Cash Advances don’t initially necessitate a hard credit check. Note, if you proceed with funding, hard credit checks will be run.
6. Transparent Costs
Last but not least, there are no hidden fees. The terms are clear, enabling you to effectively manage your finances without unexpected surprises.
In Summary
If you’re an online store looking to secure quick, flexible, and straightforward funding, consider a Merchant Cash Advance or explore other options such as Revenue-Based Funding offered by The Funding Store.
It may be the perfect solution to maintain, if not accelerate, the pace of your business operations.
