After reviewing the requirements set by his local bank, the auto repair shop owner explored alternative business lending solutions. He said "the banks’ requirements would have taken him months to pull together".
With the merchant cash advance from Merchant Cash Advance America, the owner had his money in a week. Merchant cash advance services are an increasingly popular method of acquiring the fast capital needed for renovations, purchasing inventory, expansion and other needs.
Also known as a business cash advance, the fast growing popularity of merchant cash advance services is driven by relatively low personal credit requirements and the streamlined process of obtaining the cash advance.
But how exactly how does business cash advance services work for auto repair businesses? Merchant cash advances provide owners with working capital via a fast and easy process that is tailored specifically to businesses that accept credit cards. The cash advance firm purchases the future credit card revenues of the retailer at a discount. The amount of funding the business is eligible to receive is based on its average monthly credit and debit card processing volumes, and most businesses can typically qualify for one to two times that amount. The advance is paid back by remitting a small percentage of daily credit card processing receipts to the merchant cash advance company until the purchased amount has been collected.
This will typically take anywhere from six to 12 months, depending on future sales. A typical advance can be structured in three to five days, allowing the business owner access to the capital needed to grow their business almost immediately.
If you are interested in learning more about merchant cash advances, please feel free to contact us for a no obligation review of your situation
No need to switch processors.
Rob Olson, Owner
Quantum Merchant Services
Merchant Cash Advance America
1-888-881-0657 ext 707
uto
repair companies are businesses with year-round demand. The improving
economy means people have extra cash to make repairs that they may have
let slide during leaner times. That’s good news for the owners of auto
repair companies, but for many it also means expanding operations to
meet demand.
This was the challenge facing one auto repair business owner in Canisteo, New York. He has been open since 1995 and averages $70,000 a month in gross sales. He had steady sales year-round, but wanted to expand his shop to increase his earning potential.
After seeing the requirements set by traditional bank lending, the auto repair shop owner explored alternative lending solutions. He said the banks’ requirements would have taken him months to pull together. With the merchant cash advance from Merchant Cash and Capital, the owner had his money in a week. Merchant cash advance services are an increasingly popular method of acquiring the fast capital needed for renovations, purchasing inventory, expansion and other needs.
Also known as a business cash advance, the rapidly growing popularity of merchant cash advance services is driven by relatively low personal credit requirements and the streamlined process of obtaining the cash advance. Prior to the economic downturn there were only about 10 firms in the U.S. providing merchant cash advance services, and today the industry has grown to more than 40 firms nationwide. In 2011, the nation’s largest providers of business cash advance services issued up to $8 million in working capital each month, which is up from $5 million in 2008, according to First Annapolis, a Linthium, Md., electronic-payments consulting firm. One of the largest firms of this type in the country, Merchant Cash and Capital has funded over $500 million since its founding in 2005 including many clients in the automotive repair industry.
But how exactly how does business cash advance services work for auto repair businesses? Merchant cash advances provide owners with working capital via a fast and easy process that is tailored specifically to businesses that accept credit cards. The cash advance firm purchases the future credit card revenues of the retailer at a discount. The amount of funding the business is eligible to receive is based on its average monthly credit and debit card processing volumes, and most businesses can typically qualify for one to two times that amount. The advance is paid back by remitting a small percentage of daily credit card processing receipts to the merchant cash advance company until the purchased amount has been collected. This will typically take anywhere from six to 12 months, depending on future sales. A typical advance can be structured in three to five days, allowing the business owner access to the capital needed to grow their business almost immediately.
- See more at: http://www.searchautoparts.com/abrn/searchautoparts-advanstar/shop-management-operations-collision-repair/merchant-cash-advances-as#sthash.FIdfaeRs.dpuf
This was the challenge facing one auto repair business owner in Canisteo, New York. He has been open since 1995 and averages $70,000 a month in gross sales. He had steady sales year-round, but wanted to expand his shop to increase his earning potential.
After seeing the requirements set by traditional bank lending, the auto repair shop owner explored alternative lending solutions. He said the banks’ requirements would have taken him months to pull together. With the merchant cash advance from Merchant Cash and Capital, the owner had his money in a week. Merchant cash advance services are an increasingly popular method of acquiring the fast capital needed for renovations, purchasing inventory, expansion and other needs.
Also known as a business cash advance, the rapidly growing popularity of merchant cash advance services is driven by relatively low personal credit requirements and the streamlined process of obtaining the cash advance. Prior to the economic downturn there were only about 10 firms in the U.S. providing merchant cash advance services, and today the industry has grown to more than 40 firms nationwide. In 2011, the nation’s largest providers of business cash advance services issued up to $8 million in working capital each month, which is up from $5 million in 2008, according to First Annapolis, a Linthium, Md., electronic-payments consulting firm. One of the largest firms of this type in the country, Merchant Cash and Capital has funded over $500 million since its founding in 2005 including many clients in the automotive repair industry.
But how exactly how does business cash advance services work for auto repair businesses? Merchant cash advances provide owners with working capital via a fast and easy process that is tailored specifically to businesses that accept credit cards. The cash advance firm purchases the future credit card revenues of the retailer at a discount. The amount of funding the business is eligible to receive is based on its average monthly credit and debit card processing volumes, and most businesses can typically qualify for one to two times that amount. The advance is paid back by remitting a small percentage of daily credit card processing receipts to the merchant cash advance company until the purchased amount has been collected. This will typically take anywhere from six to 12 months, depending on future sales. A typical advance can be structured in three to five days, allowing the business owner access to the capital needed to grow their business almost immediately.
- See more at: http://www.searchautoparts.com/abrn/searchautoparts-advanstar/shop-management-operations-collision-repair/merchant-cash-advances-as#sthash.FIdfaeRs.dpuf
uto
repair companies are businesses with year-round demand. The improving
economy means people have extra cash to make repairs that they may have
let slide during leaner times. That’s good news for the owners of auto
repair companies, but for many it also means expanding operations to
meet demand.
This was the challenge facing one auto repair business owner in Canisteo, New York. He has been open since 1995 and averages $70,000 a month in gross sales. He had steady sales year-round, but wanted to expand his shop to increase his earning potential.
After seeing the requirements set by traditional bank lending, the auto repair shop owner explored alternative lending solutions. He said the banks’ requirements would have taken him months to pull together. With the merchant cash advance from Merchant Cash and Capital, the owner had his money in a week. Merchant cash advance services are an increasingly popular method of acquiring the fast capital needed for renovations, purchasing inventory, expansion and other needs.
Also known as a business cash advance, the rapidly growing popularity of merchant cash advance services is driven by relatively low personal credit requirements and the streamlined process of obtaining the cash advance. Prior to the economic downturn there were only about 10 firms in the U.S. providing merchant cash advance services, and today the industry has grown to more than 40 firms nationwide. In 2011, the nation’s largest providers of business cash advance services issued up to $8 million in working capital each month, which is up from $5 million in 2008, according to First Annapolis, a Linthium, Md., electronic-payments consulting firm. One of the largest firms of this type in the country, Merchant Cash and Capital has funded over $500 million since its founding in 2005 including many clients in the automotive repair industry.
But how exactly how does business cash advance services work for auto repair businesses? Merchant cash advances provide owners with working capital via a fast and easy process that is tailored specifically to businesses that accept credit cards. The cash advance firm purchases the future credit card revenues of the retailer at a discount. The amount of funding the business is eligible to receive is based on its average monthly credit and debit card processing volumes, and most businesses can typically qualify for one to two times that amount. The advance is paid back by remitting a small percentage of daily credit card processing receipts to the merchant cash advance company until the purchased amount has been collected. This will typically take anywhere from six to 12 months, depending on future sales. A typical advance can be structured in three to five days, allowing the business owner access to the capital needed to grow their business almost immediately.
- See more at: http://www.searchautoparts.com/abrn/searchautoparts-advanstar/shop-management-operations-collision-repair/merchant-cash-advances-as#sthash.FIdfaeRs.dpuf
This was the challenge facing one auto repair business owner in Canisteo, New York. He has been open since 1995 and averages $70,000 a month in gross sales. He had steady sales year-round, but wanted to expand his shop to increase his earning potential.
After seeing the requirements set by traditional bank lending, the auto repair shop owner explored alternative lending solutions. He said the banks’ requirements would have taken him months to pull together. With the merchant cash advance from Merchant Cash and Capital, the owner had his money in a week. Merchant cash advance services are an increasingly popular method of acquiring the fast capital needed for renovations, purchasing inventory, expansion and other needs.
Also known as a business cash advance, the rapidly growing popularity of merchant cash advance services is driven by relatively low personal credit requirements and the streamlined process of obtaining the cash advance. Prior to the economic downturn there were only about 10 firms in the U.S. providing merchant cash advance services, and today the industry has grown to more than 40 firms nationwide. In 2011, the nation’s largest providers of business cash advance services issued up to $8 million in working capital each month, which is up from $5 million in 2008, according to First Annapolis, a Linthium, Md., electronic-payments consulting firm. One of the largest firms of this type in the country, Merchant Cash and Capital has funded over $500 million since its founding in 2005 including many clients in the automotive repair industry.
But how exactly how does business cash advance services work for auto repair businesses? Merchant cash advances provide owners with working capital via a fast and easy process that is tailored specifically to businesses that accept credit cards. The cash advance firm purchases the future credit card revenues of the retailer at a discount. The amount of funding the business is eligible to receive is based on its average monthly credit and debit card processing volumes, and most businesses can typically qualify for one to two times that amount. The advance is paid back by remitting a small percentage of daily credit card processing receipts to the merchant cash advance company until the purchased amount has been collected. This will typically take anywhere from six to 12 months, depending on future sales. A typical advance can be structured in three to five days, allowing the business owner access to the capital needed to grow their business almost immediately.
- See more at: http://www.searchautoparts.com/abrn/searchautoparts-advanstar/shop-management-operations-collision-repair/merchant-cash-advances-as#sthash.FIdfaeRs.dpuf
uto
repair companies are businesses with year-round demand. The improving
economy means people have extra cash to make repairs that they may have
let slide during leaner times. That’s good news for the owners of auto
repair companies, but for many it also means expanding operations to
meet demand.
This was the challenge facing one auto repair business owner in Canisteo, New York. He has been open since 1995 and averages $70,000 a month in gross sales. He had steady sales year-round, but wanted to expand his shop to increase his earning potential.
After seeing the requirements set by traditional bank lending, the auto repair shop owner explored alternative lending solutions. He said the banks’ requirements would have taken him months to pull together. With the merchant cash advance from Merchant Cash and Capital, the owner had his money in a week. Merchant cash advance services are an increasingly popular method of acquiring the fast capital needed for renovations, purchasing inventory, expansion and other needs.
Also known as a business cash advance, the rapidly growing popularity of merchant cash advance services is driven by relatively low personal credit requirements and the streamlined process of obtaining the cash advance. Prior to the economic downturn there were only about 10 firms in the U.S. providing merchant cash advance services, and today the industry has grown to more than 40 firms nationwide. In 2011, the nation’s largest providers of business cash advance services issued up to $8 million in working capital each month, which is up from $5 million in 2008, according to First Annapolis, a Linthium, Md., electronic-payments consulting firm. One of the largest firms of this type in the country, Merchant Cash and Capital has funded over $500 million since its founding in 2005 including many clients in the automotive repair industry.
But how exactly how does business cash advance services work for auto repair businesses? Merchant cash advances provide owners with working capital via a fast and easy process that is tailored specifically to businesses that accept credit cards. The cash advance firm purchases the future credit card revenues of the retailer at a discount. The amount of funding the business is eligible to receive is based on its average monthly credit and debit card processing volumes, and most businesses can typically qualify for one to two times that amount. The advance is paid back by remitting a small percentage of daily credit card processing receipts to the merchant cash advance company until the purchased amount has been collected. This will typically take anywhere from six to 12 months, depending on future sales. A typical advance can be structured in three to five days, allowing the business owner access to the capital needed to grow their business almost immediately.
- See more at: http://www.searchautoparts.com/abrn/searchautoparts-advanstar/shop-management-operations-collision-repair/merchant-cash-advances-as#sthash.FIdfaeRs.dpuf
This was the challenge facing one auto repair business owner in Canisteo, New York. He has been open since 1995 and averages $70,000 a month in gross sales. He had steady sales year-round, but wanted to expand his shop to increase his earning potential.
After seeing the requirements set by traditional bank lending, the auto repair shop owner explored alternative lending solutions. He said the banks’ requirements would have taken him months to pull together. With the merchant cash advance from Merchant Cash and Capital, the owner had his money in a week. Merchant cash advance services are an increasingly popular method of acquiring the fast capital needed for renovations, purchasing inventory, expansion and other needs.
Also known as a business cash advance, the rapidly growing popularity of merchant cash advance services is driven by relatively low personal credit requirements and the streamlined process of obtaining the cash advance. Prior to the economic downturn there were only about 10 firms in the U.S. providing merchant cash advance services, and today the industry has grown to more than 40 firms nationwide. In 2011, the nation’s largest providers of business cash advance services issued up to $8 million in working capital each month, which is up from $5 million in 2008, according to First Annapolis, a Linthium, Md., electronic-payments consulting firm. One of the largest firms of this type in the country, Merchant Cash and Capital has funded over $500 million since its founding in 2005 including many clients in the automotive repair industry.
But how exactly how does business cash advance services work for auto repair businesses? Merchant cash advances provide owners with working capital via a fast and easy process that is tailored specifically to businesses that accept credit cards. The cash advance firm purchases the future credit card revenues of the retailer at a discount. The amount of funding the business is eligible to receive is based on its average monthly credit and debit card processing volumes, and most businesses can typically qualify for one to two times that amount. The advance is paid back by remitting a small percentage of daily credit card processing receipts to the merchant cash advance company until the purchased amount has been collected. This will typically take anywhere from six to 12 months, depending on future sales. A typical advance can be structured in three to five days, allowing the business owner access to the capital needed to grow their business almost immediately.
- See more at: http://www.searchautoparts.com/abrn/searchautoparts-advanstar/shop-management-operations-collision-repair/merchant-cash-advances-as#sthash.FIdfaeRs.dpuf
uto
repair companies are businesses with year-round demand. The improving
economy means people have extra cash to make repairs that they may have
let slide during leaner times. That’s good news for the owners of auto
repair companies, but for many it also means expanding operations to
meet demand.
This was the challenge facing one auto repair business owner in Canisteo, New York. He has been open since 1995 and averages $70,000 a month in gross sales. He had steady sales year-round, but wanted to expand his shop to increase his earning potential.
After seeing the requirements set by traditional bank lending, the auto repair shop owner explored alternative lending solutions. He said the banks’ requirements would have taken him months to pull together. With the merchant cash advance from Merchant Cash and Capital, the owner had his money in a week. Merchant cash advance services are an increasingly popular method of acquiring the fast capital needed for renovations, purchasing inventory, expansion and other needs.
Also known as a business cash advance, the rapidly growing popularity of merchant cash advance services is driven by relatively low personal credit requirements and the streamlined process of obtaining the cash advance. Prior to the economic downturn there were only about 10 firms in the U.S. providing merchant cash advance services, and today the industry has grown to more than 40 firms nationwide. In 2011, the nation’s largest providers of business cash advance services issued up to $8 million in working capital each month, which is up from $5 million in 2008, according to First Annapolis, a Linthium, Md., electronic-payments consulting firm. One of the largest firms of this type in the country, Merchant Cash and Capital has funded over $500 million since its founding in 2005 including many clients in the automotive repair industry.
But how exactly how does business cash advance services work for auto repair businesses? Merchant cash advances provide owners with working capital via a fast and easy process that is tailored specifically to businesses that accept credit cards. The cash advance firm purchases the future credit card revenues of the retailer at a discount. The amount of funding the business is eligible to receive is based on its average monthly credit and debit card processing volumes, and most businesses can typically qualify for one to two times that amount. The advance is paid back by remitting a small percentage of daily credit card processing receipts to the merchant cash advance company until the purchased amount has been collected. This will typically take anywhere from six to 12 months, depending on future sales. A typical advance can be structured in three to five days, allowing the business owner access to the capital needed to grow their business almost immediately.
- See more at: http://www.searchautoparts.com/abrn/searchautoparts-advanstar/shop-management-operations-collision-repair/merchant-cash-advances-as#sthash.FIdfaeRs.dpuf
This was the challenge facing one auto repair business owner in Canisteo, New York. He has been open since 1995 and averages $70,000 a month in gross sales. He had steady sales year-round, but wanted to expand his shop to increase his earning potential.
After seeing the requirements set by traditional bank lending, the auto repair shop owner explored alternative lending solutions. He said the banks’ requirements would have taken him months to pull together. With the merchant cash advance from Merchant Cash and Capital, the owner had his money in a week. Merchant cash advance services are an increasingly popular method of acquiring the fast capital needed for renovations, purchasing inventory, expansion and other needs.
Also known as a business cash advance, the rapidly growing popularity of merchant cash advance services is driven by relatively low personal credit requirements and the streamlined process of obtaining the cash advance. Prior to the economic downturn there were only about 10 firms in the U.S. providing merchant cash advance services, and today the industry has grown to more than 40 firms nationwide. In 2011, the nation’s largest providers of business cash advance services issued up to $8 million in working capital each month, which is up from $5 million in 2008, according to First Annapolis, a Linthium, Md., electronic-payments consulting firm. One of the largest firms of this type in the country, Merchant Cash and Capital has funded over $500 million since its founding in 2005 including many clients in the automotive repair industry.
But how exactly how does business cash advance services work for auto repair businesses? Merchant cash advances provide owners with working capital via a fast and easy process that is tailored specifically to businesses that accept credit cards. The cash advance firm purchases the future credit card revenues of the retailer at a discount. The amount of funding the business is eligible to receive is based on its average monthly credit and debit card processing volumes, and most businesses can typically qualify for one to two times that amount. The advance is paid back by remitting a small percentage of daily credit card processing receipts to the merchant cash advance company until the purchased amount has been collected. This will typically take anywhere from six to 12 months, depending on future sales. A typical advance can be structured in three to five days, allowing the business owner access to the capital needed to grow their business almost immediately.
- See more at: http://www.searchautoparts.com/abrn/searchautoparts-advanstar/shop-management-operations-collision-repair/merchant-cash-advances-as#sthash.FIdfaeRs.dpuf
uto
repair companies are businesses with year-round demand. The improving
economy means people have extra cash to make repairs that they may have
let slide during leaner times. That’s good news for the owners of auto
repair companies, but for many it also means expanding operations to
meet demand.
This was the challenge facing one auto repair business owner in Canisteo, New York. He has been open since 1995 and averages $70,000 a month in gross sales. He had steady sales year-round, but wanted to expand his shop to increase his earning potential.
After seeing the requirements set by traditional bank lending, the auto repair shop owner explored alternative lending solutions. He said the banks’ requirements would have taken him months to pull together. With the merchant cash advance from Merchant Cash and Capital, the owner had his money in a week. Merchant cash advance services are an increasingly popular method of acquiring the fast capital needed for renovations, purchasing inventory, expansion and other needs.
Also known as a business cash advance, the rapidly growing popularity of merchant cash advance services is driven by relatively low personal credit requirements and the streamlined process of obtaining the cash advance. Prior to the economic downturn there were only about 10 firms in the U.S. providing merchant cash advance services, and today the industry has grown to more than 40 firms nationwide. In 2011, the nation’s largest providers of business cash advance services issued up to $8 million in working capital each month, which is up from $5 million in 2008, according to First Annapolis, a Linthium, Md., electronic-payments consulting firm. One of the largest firms of this type in the country, Merchant Cash and Capital has funded over $500 million since its founding in 2005 including many clients in the automotive repair industry.
But how exactly how does business cash advance services work for auto repair businesses? Merchant cash advances provide owners with working capital via a fast and easy process that is tailored specifically to businesses that accept credit cards. The cash advance firm purchases the future credit card revenues of the retailer at a discount. The amount of funding the business is eligible to receive is based on its average monthly credit and debit card processing volumes, and most businesses can typically qualify for one to two times that amount. The advance is paid back by remitting a small percentage of daily credit card processing receipts to the merchant cash advance company until the purchased amount has been collected. This will typically take anywhere from six to 12 months, depending on future sales. A typical advance can be structured in three to five days, allowing the business owner access to the capital needed to grow their business almost immediately.
- See more at: http://www.searchautoparts.com/abrn/searchautoparts-advanstar/shop-management-operations-collision-repair/merchant-cash-advances-as#sthash.FIdfaeRs.dpuf
This was the challenge facing one auto repair business owner in Canisteo, New York. He has been open since 1995 and averages $70,000 a month in gross sales. He had steady sales year-round, but wanted to expand his shop to increase his earning potential.
After seeing the requirements set by traditional bank lending, the auto repair shop owner explored alternative lending solutions. He said the banks’ requirements would have taken him months to pull together. With the merchant cash advance from Merchant Cash and Capital, the owner had his money in a week. Merchant cash advance services are an increasingly popular method of acquiring the fast capital needed for renovations, purchasing inventory, expansion and other needs.
Also known as a business cash advance, the rapidly growing popularity of merchant cash advance services is driven by relatively low personal credit requirements and the streamlined process of obtaining the cash advance. Prior to the economic downturn there were only about 10 firms in the U.S. providing merchant cash advance services, and today the industry has grown to more than 40 firms nationwide. In 2011, the nation’s largest providers of business cash advance services issued up to $8 million in working capital each month, which is up from $5 million in 2008, according to First Annapolis, a Linthium, Md., electronic-payments consulting firm. One of the largest firms of this type in the country, Merchant Cash and Capital has funded over $500 million since its founding in 2005 including many clients in the automotive repair industry.
But how exactly how does business cash advance services work for auto repair businesses? Merchant cash advances provide owners with working capital via a fast and easy process that is tailored specifically to businesses that accept credit cards. The cash advance firm purchases the future credit card revenues of the retailer at a discount. The amount of funding the business is eligible to receive is based on its average monthly credit and debit card processing volumes, and most businesses can typically qualify for one to two times that amount. The advance is paid back by remitting a small percentage of daily credit card processing receipts to the merchant cash advance company until the purchased amount has been collected. This will typically take anywhere from six to 12 months, depending on future sales. A typical advance can be structured in three to five days, allowing the business owner access to the capital needed to grow their business almost immediately.
- See more at: http://www.searchautoparts.com/abrn/searchautoparts-advanstar/shop-management-operations-collision-repair/merchant-cash-advances-as#sthash.FIdfaeRs.dpuf
uto
repair companies are businesses with year-round demand. The improving
economy means people have extra cash to make repairs that they may have
let slide during leaner times. That’s good news for the owners of auto
repair companies, but for many it also means expanding operations to
meet demand.
This was the challenge facing one auto repair business owner in Canisteo, New York. He has been open since 1995 and averages $70,000 a month in gross sales. He had steady sales year-round, but wanted to expand his shop to increase his earning potential.
After seeing the requirements set by traditional bank lending, the auto repair shop owner explored alternative lending solutions. He said the banks’ requirements would have taken him months to pull together. With the merchant cash advance from Merchant Cash and Capital, the owner had his money in a week. Merchant cash advance services are an increasingly popular method of acquiring the fast capital needed for renovations, purchasing inventory, expansion and other needs.
Also known as a business cash advance, the rapidly growing popularity of merchant cash advance services is driven by relatively low personal credit requirements and the streamlined process of obtaining the cash advance. Prior to the economic downturn there were only about 10 firms in the U.S. providing merchant cash advance services, and today the industry has grown to more than 40 firms nationwide. In 2011, the nation’s largest providers of business cash advance services issued up to $8 million in working capital each month, which is up from $5 million in 2008, according to First Annapolis, a Linthium, Md., electronic-payments consulting firm. One of the largest firms of this type in the country, Merchant Cash and Capital has funded over $500 million since its founding in 2005 including many clients in the automotive repair industry.
But how exactly how does business cash advance services work for auto repair businesses? Merchant cash advances provide owners with working capital via a fast and easy process that is tailored specifically to businesses that accept credit cards. The cash advance firm purchases the future credit card revenues of the retailer at a discount. The amount of funding the business is eligible to receive is based on its average monthly credit and debit card processing volumes, and most businesses can typically qualify for one to two times that amount. The advance is paid back by remitting a small percentage of daily credit card processing receipts to the merchant cash advance company until the purchased amount has been collected. This will typically take anywhere from six to 12 months, depending on future sales. A typical advance can be structured in three to five days, allowing the business owner access to the capital needed to grow their business almost immediately.
- See more at: http://www.searchautoparts.com/abrn/searchautoparts-advanstar/shop-management-operations-collision-repair/merchant-cash-advances-as#sthash.FIdfaeRs.dpuf
This was the challenge facing one auto repair business owner in Canisteo, New York. He has been open since 1995 and averages $70,000 a month in gross sales. He had steady sales year-round, but wanted to expand his shop to increase his earning potential.
After seeing the requirements set by traditional bank lending, the auto repair shop owner explored alternative lending solutions. He said the banks’ requirements would have taken him months to pull together. With the merchant cash advance from Merchant Cash and Capital, the owner had his money in a week. Merchant cash advance services are an increasingly popular method of acquiring the fast capital needed for renovations, purchasing inventory, expansion and other needs.
Also known as a business cash advance, the rapidly growing popularity of merchant cash advance services is driven by relatively low personal credit requirements and the streamlined process of obtaining the cash advance. Prior to the economic downturn there were only about 10 firms in the U.S. providing merchant cash advance services, and today the industry has grown to more than 40 firms nationwide. In 2011, the nation’s largest providers of business cash advance services issued up to $8 million in working capital each month, which is up from $5 million in 2008, according to First Annapolis, a Linthium, Md., electronic-payments consulting firm. One of the largest firms of this type in the country, Merchant Cash and Capital has funded over $500 million since its founding in 2005 including many clients in the automotive repair industry.
But how exactly how does business cash advance services work for auto repair businesses? Merchant cash advances provide owners with working capital via a fast and easy process that is tailored specifically to businesses that accept credit cards. The cash advance firm purchases the future credit card revenues of the retailer at a discount. The amount of funding the business is eligible to receive is based on its average monthly credit and debit card processing volumes, and most businesses can typically qualify for one to two times that amount. The advance is paid back by remitting a small percentage of daily credit card processing receipts to the merchant cash advance company until the purchased amount has been collected. This will typically take anywhere from six to 12 months, depending on future sales. A typical advance can be structured in three to five days, allowing the business owner access to the capital needed to grow their business almost immediately.
- See more at: http://www.searchautoparts.com/abrn/searchautoparts-advanstar/shop-management-operations-collision-repair/merchant-cash-advances-as#sthash.FIdfaeRs.dpuf
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