After Los Angeles, it is New York that is the biggest hot spot for small business owners to set up their shops. Yet not all of these companies survive after the first year of their business. In fact most of them fail and a major reason behind this failure is lack of funding. Getting a traditional bank loan, finding an angel investor who is dedicated enough to keep the business running, or trying out crowd funding does not work for many because of the time it takes to obtain funds.
Timely funding is a priority for small businesses and one form of funding that can make sure of this is a merchant cash advance. It is very easy to obtain approval for an MCA even for businesses that are still in their nascent stages. Without many restrictions on eligibility and documentation, it is an easier avenue to get cash as quickly as needed. Furthermore, there is no requirement of collateral.
A merchant cash advance provider usually lends a lump sum amount as an advance against the purchase of a portion of a company’s future credit card transactions. Apart from being quick and accessible, MCAs are also very flexible. They don’t necessitate regular monthly payments and don’t have a set payment schedule, which makes MCAs a boon to many small businesses. Unlike most loans that make businesses fall apart, merchant cash advances help businesses thrive.
There are no restrictions on the ways in which businesses can use the funds that they get through merchant cash advances. They can be used for many purposes such as staffing, meeting unanticipated expenses, paying bills and salaries, purchasing inventory or equipment, running advertising or marketing campaigns, renovating workspace or expanding business. Nevertheless, it would be beneficial for a a small business to use the funds for the growth of their business.
The best part about merchant cash advances is that they can be obtained at any time. The entire process is online where a form needs to be filled out and a few documents have to be uploaded. The money will be transferred to the borrower’s account on almost the same day, if the funding is approved. With a reliable merchant cash advance provider by its side, a small business owner will have nothing to worry about regarding maintaining his or her cash flow or running day-to-day operations, as long as the business owner is confident of paying back the advanc.
Yellowstone Capital LLC is one of the reliable names in the finance industry when it comes to providing merchant cash advances. A robust ISO network of funding companies, has helped Yellowstone Capital LLC provide funds to over 22,000 small businesses, enabling them to survive and grow despite the tough competition out there. It has a dedicated team of experts that leaves no stone unturned in helping small businesses obtain emergency funding.
The lending team members at Yellowstone Capital LLC include industry veterans from different fields. They clearly understand the challenges that small businesses face each day. They work closely with each and every small business owner, review and identify their problems and figure out perfect solutions that will help them grow and succeed, in the quickest way possible.