All too often small business owners begin major projects only to run out of available funds. This may be due to complications, poor planning or unexpected expenses. Regardless of the reason, it is important you take your projects to completion. Unfinished projects can hinder business operations, alienate staff and be detrimental to the customer experience. If cash flow is holding you back from settling unfinished business, a merchant cash advance may be right for you.

Credit Protection

Because no credit check is required or accessed, the business owner's credit rating is protected. The merchant cash advance is paid back through small daily withdrawals that are automatic, so there is no chance of forgetting to send a payment and having that damage your credit, either.

Steady Cash Flow

Having steady cash flow can lead to less stress and better decision making for the business owner when the pressure of a low bank balance is removed. It also allows you to take advantage of time sensitive opportunities such as seasonal inventory purchases.

No Collateral Required

Many businesses have very little collateral or none at all. This is especially true for newer companies. Merchant cash advances don't require the collateral that loans do, after all, it is not a loan but is based on future receipts.

Spending Flexibility

Traditional loans and many other types of financing like crowdfunding often require borrowers to specify exactly how the money borrowed will be spent. Using the money differently can trigger consequences, even immediate repayment of the loan. Merchant cash advances allow the business to use the money as they see fit. This is an advantage because in business, things can change rapidly.

Ability To Pivot Quickly

Having extra cash on hand can mean the difference between being able to expand when the opportunity presents itself and being stuck in a slow growth or no growth position until you can get ahead financially. Sometimes you need an influx of working capital to be able to grow, and a merchant cash advance can provide this influx.

Choosing A Lender

Review your potential lenders using reputable websites. Take into account how long they have been in business and who their testimonials are coming from. If a lender has done business with other local merchants, it may be a good idea to reach out to those businesses to learn about their experience with the lender.

Industry Specialization

Working with a company that deals with your specific industry is in your best interest. If a lender has experience working with other companies in your field, they will be able to provide you with advice and consultation that can help you spend your money wisely. They will be able to make suggestions based on real life occurrences and ensure you get the most out of your funds

Continued Support

A true funding partner is one that works with you during your entire experience. You want to steer clear of companies that have outsourced support since that could lead to complications with your advance and the communication lines you should have with your lender.

With over 12 years in the business, Quikstone Capital Solutions has proven to be a trustworthy and knowledgeable lender specializing in small business funding. Over 60% of our clients are renewals looking to continuously grow their business. 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.