When Murphy hits, the need for cash is almost always immediate. A restaurant can't cook food without a stove and oven, a retail store can't sell inventory it doesn't have, and an employee can't provide quality service if that employee has quit or is otherwise out of commission.
No One Ever Expects Murphy to Show Up
Most of the time, Murphy is unexpected. No one can predict accidents or exactly when equipment will break down (although it usually happens sooner than we think it should). Online business columnist Matt Hubbard suggests that most Murphy's Law occurrences can actually be predicted pretty easily, however, and that businesses should spend a little time engaging in "negative thinking" so that they can plan for Murphy's arrival.
Whether planned for or not, things will go wrong when you have a business. And when they do, a business cash advance can be a great tool for getting the cash your business needs to make things right.
Advantages of Business Cash Advances
Business cash advances are not loans - instead, the cash advance company is purchasing a portion of your future earnings. In order to get the total as an advance, a fee is paid. Then the cash advance company takes a portion of your future earnings each day until it receives the entire amount that it purchased. Meanwhile, the business has a lump sum of cash to deal with Murphy, or use in any other way the business needs.
Unlike loans, business cash advances are usually repaid within 3 to 12 months, so there is no long term debt to worry about. Another advantage of cash advances is that there are no credit checks, so bad credit from your past can't hold the business back from getting what it needs. No collateral is needed either. The cash advance provider simply looks at your sales record and determines whether you are qualified for an advance.
Even More Problems With Bank Loans
A loan from a bank can take weeks or even months to finalize, and many loans are still rejected after all that effort and time. Who has time to wait that long when Murphy has camped out at your business? Business cash advances can get you cash in as little as a few days, so you can kick Murphy to the curb as soon as possible.
Many bank loans also require businesses to spend loan proceeds only on what they listed in the application process. If your needs change - maybe Murphy shows up again - your loan could be called if you spend the money in a different way. Business cash advances offer flexibility in that businesses can spend the cash in any way they see fit.
Quikstone Capital Solutions offers protection from Murphy in the form of cash advances for qualified businesses.
