Auto Repair Shops benefit from Merchant Cash Advances

Auto Repair Shops can benefit from a Merchant Cash Advance.

If you are running an auto repair business you know the ups and downs of cash flow. It is a never ending story for most businesses. Auto repair shops have their own set of needs when it comes to periodic financing issues.

Auto Repair Shop Fincaning

A merchant cash advance may be considered an alternative type of financing for an auto repair business. This type of financing is fast and fairly easy to obtain but it may not be for everyone. If you run an auto repair shop and you have a great relationship with your banker you may be able to get any short term  financing you need from that source. If on the other hand you are not that close with your or any banker a merchant cash advance company may come in handy.

It really depends on how you run your business. If you are the type that hates paying cash up front for items your shop needs to grow than this may be the type of financing option that would appeal to you.

For instance some businesses like to lease their equipment. They understand that over the length of a lease they will pay more for the equipment than if they purchased it outright but the advantage of not have any money to pay upfront or being able to write off the lease payments is attractive to some business owners.

In the same respect Merchant Cash Advances are attractive; they are fast and simple to apply for. They are repaid overtime by subtracting a small percentage from the daily credit card sales thus no regular large monthly loan payments. The fees for the cash advance are typically tax deductible. The Cash Advance Company absorbs all the risk and the auto repair company gets the benefit of receiving their financing in a timely manner.

Typically a merchant cash advance can be applied for with a simple one page application, also the borrower is requested to provide at least 3 months card payment statements and 3 months current bank statements. That is pretty much it. Credit scores do not play as big a role in this type of financing as they would in say a typical bank loan.

Auto repair shops that are savvy about running their business have been utilizing this type of financing for years.

If you run an auto repair or related business and you are in need of financing you can contact, North West Finance and Merchant Cash Advance Us. 

Northwest Finance has been offering companies like auto repair shops fast funding since 2012. Get the financing you need and use the proceeds for whatever purpose you see fit.

If your business accepts credit cards and you are in need of a financing partner contact Northwest Finance today!!

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Bars, Restaurants, Nightclubs and Merchant Cash Advances.

Bars, Restaurants, Nightclubs and Merchant Cash Advances.

Do you own a restaurant or bar and are you in need of a financing source to help you with updated equipment? Perhaps you are in need of a new freezer or even new kitchen equipment. If you are not in the best position with your bank due to a low credit score but you still need some capital, consider a merchant cash advance.

Merchant Cash Advances have been helping businesses grow and thrive for many years; in fact in 2016 there were over 9 Billion dollars in MerchantCash Advances approved in the US alone. That is a lot of financial help going to small businesses of all types across the United States.

Merchant Cash Solutions

Restaurants Bars and Nightclubs often find themselves in need of cash flow that may be hard to find from a traditional lender. Banks like to see lots of paper work, they need to see past history and forward looking statements. Being in the hospitality business has always been risky for banks so they tend to make it difficult for borrowers.  

This is very unfortunate as most bar and restaurant owners pride themselves on running respectable businesses. Some reasons for capital needs simply run beyond their control.

Seasonal Slowdowns

It is easy to see how a hospitality business in a seasonal area may have difficulty carrying on thru the slow months. When it is summer and people are out doing the tourist thing ice cream and hot dog businesses thrive, so do nightclubs and restaurants. But what about when the crowds go away and the businesses are holding on relying on a fraction of the summer business totals? Do you think the bankers are going to jump in and help?

Merchant Cash Advance Companies like NorthWest Finance see this as an opportunity to reach out and provide an option to help thru the slim times. Businesses should know there are companies out there that are willing to take the risk and provide resources to float a business thru the hard winter months in time like seasonal drop-offs.

Restaurants Bars and Nightclubs can spend the down time upgrading systems like production facilities, kitchens, bathrooms dining areas etc. This down time can also be used for retooling menu’s or adding management to bolster their reputation.

All of these things take business capital and companies like Northwest Finance can offer that stability. It is as reliable as the sun rising and setting businesses are going to face seasonal downturns. Look at it this way if you live in an area that has awesome mountains and provides incredible skiing, your summers may be slow. In the opposite if you live in an area that get’s heavy foot traffic and you have a downtown area that relies on summer tourists your winters may be slow. It’s all about evening out those bumps and keeping the doors open until the next rush.

Successful companies utilize all the resources at their disposal and Merchant Cash Advances can be one of those arrows in the quiver.

Companies like Northwest Finance work with businesses nationwide. All types of businesses. If you accept credit cards you can be financed. Contact NorthWest Finance Today!!

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Why a merchant cash advance is not a loan.

Why a Merchant Cash Advance from Merchant Cash Advance US is not a loan.

Many things separate Merchant Cash Advances from loans. A merchant cash advance is in fact a totally different form of financing that serves the same purpose as a loan getting the business owner much needed capital, but it is not structured as a loan.

Merchant Cash Advance US cash advances are not loans—rather, they are a sale of a portion of future credit and/or debit card sales. Therefore, merchant cash advance companies claim that they are not bound by state usury laws that limit lenders from charging high-interest rates.

Why would I need a merchant cash advance? This type of businessfinancing is typically used by people who need to get cash in a pinch, as well as people who want to borrow money but have less than perfect credit.

Since this is not a traditional loan there is not a traditional interest rate that is calculated. In fact since you are borrowing against future credit card sales to calculate the costs of a merchant cash advance it is pretty simple. First need to know the total advance amount and your factor rate—(those should be easy to find in your merchant cash advance offer). You'll also need to know the fixed percentage the merchant cash advance company will take from your daily credit card sales. An MCA is advantageous for businesses with unsteady cash flow or seasonal business cycles, as it's not a fixed amount of money demanded each day, but a percentage of your sales.

Is a cash advance tax deductible?

That really comes down to how your business is set up. IT will be a simple question you can ask your accountant. In a nutshell merchant cash advances have a neutral effect on the taxation of the business; you can deduct the fees paid to the cash advance company as a business expense, a cash advance will not shelter any of the business's income from taxes, but neither do they subject it to any more taxation than it otherwise would be.

Merchant cash Advances can be used for any purpose?

Yes once you have received your cash advance you are free to do with it what you will. In the application process there is no predetermined usage necessary. Typically a business needs some fast cash to get thru a slow period or to pay off some back taxes. Other purposes may be to hire some new employees increase inventory or purchase a piece of equipment.

What types of businesses qualify for a merchant cash advance?

Many types of businesses qualify for this type of financing. Essentially if you accept credit cards you qualify! Auto services businesses, retail businesses, and wholesale businesses and online businesses, high risk businesses as long as you accept credit cards and have at least 3 months of statements you can qualify!

How long does it take to complete the application process and get funded?

Since a Merchant Cash Advance is not a loan it is faster than traditional lending. Typically a one page application and 3 months of processing receipts will get you funded in as little as 72 hrs! The money once approved is electronically transferred directly into your bank account.

If you are interested in a merchant cash advance and your business is located in the United States contact Merchant Cash Advance US. A Fast Friendly, Professional Merchant Cash Advance Company.

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