Sometimes a business will just find itself in a bad situation through no fault of its own, or due to circumstances it can't control. One of the downsides of owning a small business is that adverse circumstances become your responsibility in the end, even when you had nothing to do with causing them. The following scenarios are all too common for businesses, but merchant cash advances can help business owners get back on their feet and begin to thrive again.
Scenario #1: An Employee is Stealing or Embezzling from the Company
Whether it's stealing inventory and equipment, taking money from the cash register, or a financial manager stealing directly from the business's bank accounts, embezzlement and theft cost small businesses billions of dollars each year. Most thieves get caught eventually, but the business may need an infusion of funds while a trial takes place, just to keep things running until the money can be recovered or paid back by the thief.
A merchant cash advance can also be helpful to fund systems to prevent further embezzlement, such as installing video cameras or upgrading electronic banking software. Because of the commonness of theft in the workplace, it is all too likely that businesses will be victimized repeatedly if these systems aren't put in place.
Scenario #2: Slandered Online Reputation Causes Sales to Drop
Even just one negative review can scare away prospective customers, whether it's true or not. Most businesses cannot afford a prolonged drop in sales, but a merchant cash advance can turn things around while you work to repair your damaged reputation. Besides covering costs like equipment upkeep and online security, merchant cash can provide the means to hire a reputation repair company to get the negative reviews removed or covered up by more recent positive feedback.
Scenario #3: A Key Employee (or the Owner) Suffers a Lengthy Illness
Small businesses rely on the owner-operator and a few key employees to keep things running day-to-day. Most businesses would be severely disrupted if any one of these principals were unable to do their job. Consequences of such an occurrence range from decreases in sales to a complete shutdown of the business, even if temporary. A merchant cash advance can give the business an infusion of cash as it recovers from an adverse event like a serious illness.
Before taking a business cash advance, the business's insurance coverage should be checked to see if it covers losses caused by owner or employee illness or incapacity. Even if these circumstances are covered by insurance, cash advancement can provide working capital to get things started up again.
Quikstone Capital Solutions offers merchant cash advances to help businesses get out of bad situations they may find themselves in. The application process is simple and fast, and funds could be available before the end of the week in many instances.
