Flexibility can be a key factor in the finances of a business. The ability to be flexible in making financial decisions often helps businesses take advantage of opportunities that they might otherwise lose - opportunities that can increase their profit and ultimately lead to success.
The day-to-day operations of many businesses don't lend themselves to flexibility. Many expenses are fixed even when income is variable. Bills must be paid in a timely manner for the continued functioning of the business. For many new and established businesses, flexibility isn't something that would be nice to have - it is essential.Cash Flow Planning
Until a business can build up enough of a cushion to cover emergencies, even the smallest unexpected expenses can often derail the budget. Another problem: as businesses grow, their expenses often increase before their income. Cash flow planning can be difficult when numbers are constantly changing.Coming up with extra cash can be challenging. Many sources of funding such as business loans and investor capital take weeks or months to procure, leaving bills unpaid and creditors unhappy. Having a funding source that is quick and convenient can help everything run more smoothly from month to month.
Quick Cash When You Need It
Unlike bank loans, merchant cash advances can make funds available in as little as a few days. These cash advances are not dependent on having a good credit rating, making them perfect for startups and businesses too new to qualify for credit.Whether you need to make payroll, purchase inventory, or upgrade equipment, merchant cash advances are a great alternative to traditional funding sources. The application process is fast and simple.
Variable Repayment Helps Stability
Bank loans typically have a fixed repayment schedule, which means that the same amount is repaid each month until the end of the term. Merchant cash advances, however, are paid back as a percentage of daily receipts. On days revenue is higher, the payment is greater. But on slower days, however, the payment is lower.This aspect of variable repayment helps businesses have more stability as they get on their feet. They don't need to worry that repaying a loan will prevent them from meeting other obligations, or that they will need to default if they have a low-revenue month. Having a merchant cash advance allows for a more stable cash flow, which allows plans to proceed more steadily.
Cash Makes Opportunities Happen
Sometimes, a business is presented with an opportunity to expand, to grow or to increase its profit. Often, these opportunities require cash in order to happen - cash that the business may not have available. Businesses must take care not to engage in risky spending with money that they receive as cash advances, but solid opportunities can make or break a business. Without business cash advances, it may not be possible to move forward and meet goals or objectives.Don't let a lack of funding keep you from realizing business success. Contact Quikstone Capital Solutions today to find out if a merchant cash advance can help you move forward in your goals.
