Merchant account for stores of all sizes

According to the US Department of Agriculture, the global food retail sales are around $4 trillion each year. Did you know that the supermarket and other small-scale grocery store industry is the largest in the US; the family owned grocery stores alone contributes to 25% of the industry’s sales which amounts to around $131 million.

The industry is thriving and the competition is heating up with the presence of several online grocery stores which do not even have a physical brick and mortar structure. If you own family-run grocery store, a small convenience store, a liquor store in the neighborhood, the dollar store around the corner, the health and vitamin store then you must be feeling the heat. It is time to reinvent yourself and retain your loyal clientele.

How can you bring the zing back into the business

If you have been going through tough times like the rest of the nation then its time to beat the competition and stay ahead of your competitors. You need a solid working capital to remodel the storefront, relay the flooring, repair leaks and air conditioning, employ more staff, invest in payment gateways, and plan some rewards and loyalty programs for your customers.

Can I avail loan with bad credit?

Not everyone has the monies needed to make the changes. Ideally, you must seek bank loans or other traditional lenders to provide funds. Small business financing is not easy; borrowing money on a long-term basis is tough due to the nature of the industry. Those with good credit can find lenders and funders easily but what about those with bad credits.

Merchant cash advance or business cash advance, call it what you want can bail you out there. They are short-term lending options that can be tapped by small businesses for getting a working capital towards several day-to-day business expenses. These lenders are Bad credit OK.Thus merchants with bad credit and even those with high NSF can look forward to brighter future.

Merchant account to remodel your store

The MCA or the merchant cash account provider offers you a lump sum loan in advance and collects the percentage of future sales on credit card purchases on a weekly or daily basis. It is common knowledge that the plastic card is much in vogue now and hence every store that wants to upgrade must be able to accept varied payment methods. A good business cash advance provider will help you not only in setting up the required gateways but will have several other features to make your business profitable.

The profit margins in this industry are very little and the competition stiff hence you must do all it takes to make your store a niche and entice customers to come back to you again and again.

How can we help supermarkets, grocery stores, convenience stores and the rest

There are several business cash providers out there but not everyone is suited for your industry. We have been in the game for long and know exactly what features that a reliable merchant cash advance provider must have.

  • Reliable technical support:

    Once an MCA is opened there is a lot of technology involved and you will constantly need the help of the provider to overcome challenges on a day-to-day basis. We can assure you that we have the best and most well trained technical team that will support round the clock and equally efficient and knowledgeable customer service agents who are ever willing to understand your problem and help accordingly

  • Cutting-edge technology:

    The gross average revenue of many of the small businesses especially family-owned grocery stores was a $650,000 of which the take-home profit was a mere $66,000. To sustain in this business you must have a payment system that is quick and efficient. Our payment gateways accept all major credit card, debit card, and gift cards. We use cutting-edge technology to interface across available networks and even mobile interfaces. Your payments will be processed in a jiffy leaving satisfied customers.

  • Retail processing:

    The sheer volume of products available on the shelves of a supermarket is mind-boggling. We understand the demands of running a supermarket and hence our software is designed to manage the volume and amount of business. we provide all the required virtual and credit card terminals necessary for your business.

If I need additional finance

Sometimes the cash advance is insufficient or you are in urgent need of a working capital to meet some unprecedented emergencies, then what should you do. There are several other bank loan alternatives that you can consider to get unsecured business loans. Most often this situation arises when there is a bankruptcy lien and you have no alternative funding solutions in sight. It is at such times you seek 1st position, 2nd position, 3rd position or 4th and 5thposition cash advance. These should be your last resort because the interest rates are very high.

Verify your loan terms

Before you take the plunge, you must go through all the loan terms and ensure there is no collateral hidden in the terms. In the terms and conditions, you will come across the factor rate which is what will determine how much is your final payment. This rate is different from the interest rate which is not fixed and is dependent on the balance amount of the principal amount. The factor rate is calculated on the complete loan amount; it is normally 1.1 or 1.2. Thus, if your loan is 500 K your final payment will be 1.2 times 500K. knowing the factor rate before you avail loan will help you plan your repayment schedule.

Bank on Us for all your small business financing needs

Though the sales in most of these stores have risen there is still concern over the industry wages which are the lowest at less than $10 per hour. With employees having more options retaining quality staff is proving to be expensive. In addition to that, the new regulations on gas and tobacco are taking its toll on the convenience stores in gas stations which rely mainly on unprecedented buying. To counter all these challenges these small businesses must upgrade their services. Our customer service personnel will be glad to advise you on how to avail merchant loans and use them efficiently to build a profitable business.

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