Easy Solutions For Small Business Entities

Introduction

Starting a motel or a place where people can come and spend some time with their families resting and having funs is a great business idea. But many people end up losing money in this business, as they opt for loans from banks and other financial institutions and pay very high rates of interest. In such a case, their working capital gets over quickly and plunges them into an irrevocable cycle of debt. A business like this needs continuous liquid funds for the regular operations.

The hospitality business is considered a high-risk segment and hence they find it difficult to find loans at low-interest rates. Unsecured business loans remain their only option.

Situations that small businesses face

These small business companies have to take care of many day-to-day expenditures. They need to take care of their customers and provide them with all the comforts that are expected. Therefore, many small companies end up with a Bad Credit rating. There are times that they reach bankruptcy due to bad management. There may be many liens against the property and existing mortgage. They may have high NSF. With small business financing, short-term loans, Merchant cash advance (MCA) and business cash advance (BCA) etc., their problem of working capital can be sorted out to a great extent.

Creating a great experience for the customers requires regular cash flow and at such times specially designed financial solutions are needed. Alternative Funding Solutions such as MCA and BCA are perfect for hospitality companies even with bad credit record and High NSF and fulfill their short-term needs of money, without collateral and are similar to unsecured business loans.

Such cash inflow may also be required seasonally. Some periods ina year see more influx of business and at other times the business is slow. For example, a small motel has to have more inventory during the holiday season and cater to more people. While at other times it may report more vacant rooms and may not need that much staff or inventory.

The purpose of these financial solutions

The hospitality business may need finance for many purposes:

  1. Renovation/ upgrade/expansion.

  2. New recruitment/ payment of salaries.

  3. Upgrade of facilities or equipment

  4. Repair/replacement of equipment

  5. Inventory

  6. Tax payment

  7. Advertising/ marketing

  8. Emergencies

There are many reasons that a small business in hospitality may need an inflow of money. MCA and BCA are most helpful tools for such requirements. These can help you get the security to tide over short-term needs.

Available facilities

These solutions are very easy to process. Most of these are approved within a couple of days. Some can come through in 24 hours too. Even if you have a bad credit record and high NSF, then also, the company does not look at the past record. They evaluate the potential money that would be coming in the near future and long-term. They sanction the money immediately and the repayment is also very easy. They just assess the receivables on your credit card. The repayment amount is deducted from the incoming money from your credit card. So the money is advanced on the basis of expected revenues. This makes the entire process of finance approval very easy. In fact, a company with expected better returns can easily get the First, Second, Third, Fourth, Fifth, even Sixth Position small business financing approved.

Applying process and the approval may be completed within two business days. Some months of merchant statements and bank statements are considered. No personal financial statements are needed. Small business financing has been simplified. The borrower and lender can sort out all the formalities very quickly.

Amount of finance

The MCA/BCA are available in any value and you can get any amount for your business starting from 5k,10K, 15K, 20K, 25K, 30K or even up to 50K or maybe above that also, as in exceptional situations it will be approved. There is no application fee or processing fee. There is no requirement for down payment or collateral. No amount is high enough as long as you can prove that you have a business model that will receive money in the future, whether short-term or long term. These financing solutions are based on Credit Card Factoring and are very convenient for a small-sized business that may have a cash crunch and an urgent need for money. The approval for merchant cash advances may come through in a matter of hours and within a couple of days, the money can be credited to their accounts. This type of commercial financing is based on the cash flow of the small business.

Conclusion

We can see that there are many huge corporate hospitality companies in the industry and they do not face the cash crunch as they can easily take bank loan from big financial companies. It is the small business entities that need a customized finance solution. This kind of business funding is just like unsecured business loan as it is provided without any indemnity. This helps the company to take care of revolving credit and keep their credit score appear good. As these loans are not reflected on their credit card statements slowly their credit rating will also improve.

Another important aspect is that these financial solutions do not consider the personal credit history or bad credit records. The company is not even worried if the small business was declared bankrupt in the past. All that matters is if it has viable future. Even if you have been declined by other banks for a loan you can still get some assistance from us and we offer the following services:

  1. Approval within the shortest period of time

  2. No collateral or guarantee needed

  3. No restriction on the use of money or purpose of advance

  4. No set repayment schedule

  5. No set repayment amount.The amount is deducted from the future earnings as and when these come into the credit card account.

  6. No processing fee

  7. No application fee

  8. We do not take multiple NSF into account, as we realize that this is an unpredictable business and such events may occur.

All in all, you can check our website for more information, if you are a small business and are in need of MCA.We are always eager to help and support small businesses with a customized solution.


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