The Neighborhood was Saved by a Merchant Cash Advance

The Neighborhood was Saved by a Merchant Cash Advance

By – Raquel Ellen Donate

Merchant-Cash-Advance-OCM-Financial-GroupNot too long ago, our neighborhood was almost without a pizzeria! Thanks to a smart and savvy local chamber of commerce member, the neighborhood was saved by a merchant cash advance. Sounds like this was no big deal, right? Well it may not be a big deal where you’re from, however, in my neck of the woods, we don’t care too much for the big name pizza franchises. Instead, we love our Romano’s Pizzeria, so much so that me and my family have been eating here since our grandfather’s time. Now, thanks to a merchant cash advance, our favorite pizzeria and Italian restaurant was saved from having to close it’s doors.

We are not certain what went wrong, however we are sure this deep recession did not make matters better.  After a few slow seasons, the owners had to put up their house in order to get a small loan to survive the dry spell on business. The recent harsh winter season was another nightmare along with broke down ovens and a few other essential items needed to run a successful eatery. After the winter was over, our neighborhood was in such dismay. Rumors had spread like wildfire stating that the owners of Romano’s were calling it quits! Let’s just say, everyone from the children all the way up to our grandparents were stricken with disbelief at the thought of losing everyone’s favorite pizza joint since the late 60’s. Some folks even set up a charity donation box. But it was just a drop in the bucket compared to the almost 6 figures it was going to take to save Romano’s.

Then one day, at a local chamber of commerce meeting, a gentleman was there from OCM Financial Group doing a seminar about how banks are getting tougher and stricter about lending any money out and how OCM Financial was able to get business owners the money they needed in less than a week! Attending this meeting,  was one of the owners of Romano’s. Quite serendipitous to say the least! Soon after the presentation was over, the business finance specialist was passing out his business cards when the Romano’s owner asked if he could apply for a merchant cash advance to save his restaurant, and the rest, as they say, was history. Less than 6 days later, Romano’s was able to order a new oven and fix the broken one.  Success! Neighborhood pizzeria saved and the tradition lives on!

Thinking of Offering Obamacare Insurance to Your Employees? You May Qualify for a Small Business Tax Credit

Thinking of Offering Obamacare Insurance to Your Employees? You May Qualify for a Small Business Tax Credit

Small-Business-Tax-Credit-Merchant-Cash-AdvanceThe deadline for Obamacare enrollment is right around the corner, which means that it’s likely you are getting bombarded with questions from your employees as to whether or not you will be offering affordable insurance.

If you are thinking about offering insurance to your workers, then you may be pleased to learn that you may actually qualify for a small business tax credit. What does this mean for you? Reduced tax liability and reduced payments overall.

This year’s Obamacare tax credit can be as high as 50 percent of your premium payment.  But as great as that sounds, as with all good things, there’s always a catch.

You get a 50 percent tax credit on premiums for up to ten employees. This number goes down as the number of your employees goes up. Once you hit 25 employees, you can kiss your credit goodbye.

Additionally, your employees will be eligible for a subsidy on their premiums. As a business owner, you will not.

And, let’s not forget the endless paperwork you need to submit – all on paper (for insurance on the federal exchange) because online submissions are not available.

So if you are thinking of offering Obamacare coverage to your employers, you might actually stand to lose more than you gain and may need to seek a cash advance for working capital just to cover your own expenses.

Sound tedious? We certainly think so.

Regardless of what you decide, you can know one thing’s for certain. OCM Financial Group is here to help you if you exceed your cash flow. Our merchant cash advance options can provide you with the working capital you need to ensure your valuable employees obtain insurance coverage while at the same time, protecting yourself against liabilities.