Starting a new business can be exciting. Choosing your location, branding, and even your business cards can be an adventure. You may have dreams of opening up a small local boutique or perhaps fantasize about creating a chain of trendy restaurants. But no matter what your business goals may be, your dreams of entrepreneurial success can be dimmed if you don’t have enough capital.
Not everyone can be approved for a business loan, and in this stagnant economy, it can be years before you are able to save enough money on your own to venture out and build a company with your own funds. Luckily, there is another option to obtain the funds you need now to get your business off the ground and running. If your business processes credit card transactions, you may benefit from a Merchant Cash Advance. Now, there are even merchant cash advance options for businesses that don’t accept credit cards yet. This type of program is based on ACH banking history which is beneficial if your credit rating is not acceptable for traditional loan qualifications.
A merchant cash advance is a way for business to receive the capital they need in exchange for a percentage of their credit card income. There are several benefits, including the fact that you don’t have to put up collateral, as you would with a traditional loan, can be written off as expenses giving you a tax break, and best of all, you get your funds quickly after approval. The OCM Financial Group offers more than just these standard benefits for merchant cash advances. You only have to pay us back when your business process your credit card sales and we offer flexible repayment systems so you can have greater control over your assets. The application process is easy and quick, and you could have your cash at hand in as little as a week.
So if you have been denied a loan application or just don’t want to go through the hassle of applying or getting stuck with huge interest payments, give us a call today to discuss how our merchant cash advance program can help you and your business succeed.