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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