I have never been much of a spender, but when I started investing in real estate, I knew that I had found my calling. I was capable of turning a simple loan into a large return, and it was really fantastic to see my efforts pay off. Unfortunately, sometimes money was tight, and I found myself taking out loans to invest in new deals. However, I was able to learn a few tricks of the trade to save money on loan interest, such as limiting the payback timeline and perfecting my credit. This blog is all about saving you money on interest.
Most people think of cash advances as a way for individuals who are having money troubles to pay personal debts such as rent and bills. Cash advances can actually be advantageous for those who are starting out a new small business as well. Here are four reasons a cash advance might be the right option for you to get your small business off the ground.
1. Money for Product Fulfillment
If you have a business that deals with getting inventory out the door, your orders might be coming in faster than you can produce a product. If you are guaranteed turnaround on your products selling with pre-orders, it might be a good idea to move forward with a cash advance. This can help with back orders, products that will sell for the holidays, or if you are working to expand your line of products.
2. Growing Infrastructure
If your business is small today but just needs cash to grow into something bigger, a cash advance can get your business to the next level quickly and efficiently. This might involve behind-the-scenes business operations such as upgraded computer systems or advancements with your business website or social media presence. For a business that has a brick and mortar location, a cash advance can help with renting space and organizing an office for future growth.
3. You May Not Qualify for a Traditional Loan
If you have bad credit or don't qualify for other business loans, this doesn't mean that you don't have access to other cash options. Cash advances aren't as discriminatory and can get you the money you need if you have a great business idea. Don't give up on your small business before giving this a chance to thrive.
4. No Delays in Funding
Sometimes applying for business loans or even personal loans can be a lengthy process. Many times cash advances can be done quickly so that you have the money you need today. If your business needs are moving fast, the best way to fund this quickly might be with a cash advance.
Small businesses can be stressful to start, but if you have a great idea, this can be an exciting time as well. If you know that your business will be a hit if you can just get some start-up capital involved, this is something that a cash advance can provide. Be sure to read the fine print and understand all of the nuances that come along with a cash advance, but this might actually fit your needs perfectly.
Additional info can be found at a local money service.Share
25 May 2016