staff If you’re a small business owner who needs more capital to grow your business, a merchant cash advance can help you get there. Unlike bank loans, MCAs are fast and easy to qualify for.
Many businesses use cash advances to smooth out cash flow problems during leaner months, buy inventory or build capacity for upcoming sales seasons. They can also fund growth initiatives like marketing campaigns and hiring new employees.
Expand your marketing campaign
Whether you are a startup or a seasoned vet, a business cash advance is a great way to boost your bottom line. It is not a secret that a small business relies on working capital to survive. Thankfully, there are more options for funding your enterprise than ever, from short-term loans to a well-managed line of credit. The best part is that you can access it from anywhere in the world.
Buy in bulk
Buying in bulk can be a great way to save money. However, it would help if you were careful about what you believe.
The first step is to take stock of your current purchases and figure out what you need in bulk, says smart shopping and personal finance expert. For example, a quart of olives might be a bargain, but only if you eat them all.
Next, calculate the price per unit and ensure you get a good deal. This will help you determine if your bulk purchase is worth it or if you should purchase in smaller quantities.
Hire more employees
You must hire more employees to keep up with demand when your company grows. However, hiring more staff without carefully evaluating your existing team and processes is risky and could do more harm than good.
Hiring the wrong people can make your business run more slowly and lead to high turnover rates. This means that you’ll need to look hard at your current workforce to identify any opportunities for reorganization or realignment.
Ultimately, you should only hire employees who can take your company to the next level. That means putting together a robust onboarding process that helps new hires quickly become part of your team and learn how to maximize their potential. This way, you’ll boost employee retention and increase productivity.
Upgrade your store’s design
A business cash advance is a great way to help your company grow by giving you the financial headroom you need to take on a project or upgrade your store’s design. Most MCA providers offer a free online application and the ability to wire your funds directly into your business bank account in 24 hours. If you have a solid credit score and consistent revenues, this may be just the funding vehicle for your small business. Doing your homework and comparing rates from several sources will also ensure you maximize your investment.
? Find out more in our accessible business financing guide today. We will show you how to get the money you need for the next phase of your business’s growth.
Open a new location
A new location can be a great way to increase your business’s visibility and attract more customers. However, moving costs can quickly drain your budget, so a business cash advance is an excellent option to cover those expenses. A business cash advance is also a popular choice for businesses that operate on a seasonal basis, like tax preparation companies and holiday retailers. Having the funds to purchase inventory before seasonal slow periods can help your company avoid supply shortages and restocking headaches.
Unlike traditional loans, business cash advances are often straightforward to qualify for and offer fast funding. You can receive your advance within 1-3 business days of your application! So if you’re ready to start growing your business, apply online today.
