Which Industries Benefit the Most from Merchant Cash Advance?
Many business owners have trouble accessing traditional business loans. If you’re one of them, you may be wondering about alternative funding solutions. One of those solutions is the merchant cash advance, or MCA. Some businesses benefit from Merchant Cash Advance more than others. If you’re in one of these industries, MCAs could be the right choice for you.
Restaurants Need More Flexibility
Many restaurants face huge ups and downs, making their income somewhat unpredictable.
If you already accept credit cards, merchant cash advances are a great way to secure flexible funding. MCAs could also help you invest in kitchen upgrades or follow up on trends like food trucks or local eating. You might even be able to open a second location to keep business growing.
MCAs Help Auto Repair Shops
Traditional financing can be risky for an auto repair shop. If you fall behind on payments, the lender might decide to collect on the loan collateral. That could mean the loss of expensive equipment or even your garage space.
Merchant cash advances let you keep working without fear of the debt collector. Payments are based on your credit card sales, so there’s no need to worry about missing a payment.
Specialty Retailers Benefit from Merchant Cash Advance
Retail is another industry with slim margins. Specialty retailers face even slimmer margins, often because they’re selling to a small crowd.
MCAs could help you weather the ups and downs. They could also help you upgrade your space or move to a more attractive one, so you can be where your customers are.
Is MCA Right for You?
Merchant cash advance has benefits for many different businesses. If you think it might be the right solution for you, get in touch with us. We can help you explore all financial solutions for your business.