As small business owners know quite well, it can be very challenging to run a business.  You get into entrepreneurship to be your own boss and make a profit, to provide for yourself and your family, and to pursue something you are passionate about.  Sometimes things go along well and the business grows.  Most times, though, you have goals and dreams for the business that you just can't meet because of unexpected needs that eat up your working capital and keep your business from reaching its full potential.  You persevere through equipment failures and costly staff turnover, rent increases and governments raising the minimum wage or imposing all kinds of new taxes on both businesses themselves and the products they produce.

All too often, the urgent can swallow up the important and hold your business back from the level of success you want it to reach.  Sure, you're doing pretty well, making some profit and moving forward, but inside you're itching to get to the next level and you just don't have the cash to get there.   Merchant cash advances are a growing alternative to traditional bank loans.  Although they are not loans, they provide cash that businesses need in exchange for a percentage of future receipts from the business.  The advantages of merchant cash advances for businesses are numerous.

Advantages Of MCA’s

For one thing, you don't have to spend hours gathering up a bunch of financial documents and statements in order to apply for a merchant cash advance.  Most small business owners spend long hours making their business work and keeping it operating.  Who has time to spend finding last year's tax return, financial statements, and letters of reference to satisfy a bank's strict requirements?

Another great thing about MCAs is that they don't rely strictly on your credit score or rely on you to furnish collateral in order to qualify.  Business credit ratings are tricky - they rely on lots of different information, and if you haven't used credit in the business's name before, you may not have a good rating for that reason alone.  And other than their inventory, most businesses don't have collateral with which to secure a loan either.

While a bank seeks to give only large loans with lengthy repayment terms, MCA providers see the value in providing even smaller amounts of cash, with repayment being within a year in most cases.  This flexibility can help small business owners fund an equipment upgrade or expand to a larger space without paying for it for the next 10 to 20 years.

The Biggest Advantage

Any one of these aspects of a merchant cash advance makes it a good choice for many small businesses, even those who might qualify for a bank loan.  But what is the biggest advantage of an MCA?  You can get your money in as little as a few days to just one week.   While bank loans can take weeks or even months to decide whether to give you money, even after you've spent a significant amount of time applying, most MCAs are disbursed within a week of application.

Why is this kind of speed important? Many small business owners discover that they need cash urgently and quickly as a result of events like sudden equipment failure, an expansion or merger opportunity, or a need for additional inventory.  In some cases, every day they don't have the cash they need, can mean losing money or having to be shut down.  Not being able to get cash fast can even mean losing out on an opportunity that can help the business grow and be more successful.

When speed is absolutely essential, a merchant cash advance can make all the difference for a small business in need of cash.  Quikstone Capital Solutions provides MCAs to businesses that can benefit from a cash infusion and can't afford to wait for a bank.   Quikstone Capital Solutions has been providing small business owners with merchant cash advances to stabilize and improve their companies for more than 10 years.   If you are in need of a cash to cover unexpected costs, or if you’re looking to make long overdue improvements, a merchant cash advance could be right for you.   With the ability to quickly qualify and get your money in a timely fashion, there is no more convenient option.