Manny challenges accompany running a business : money, time, workforce, equipment, and inventory, just to name a few. While there are many tools available to help with each of these aspects of company, they are only as useful as you allow them to be. The best inventory management program is only going to work if the user knows how to utilize it properly.
The same is true of any tool. A hammer only works if the one using it knows how to use it, otherwise there is a hole in the wall, a smashed thumb, or both. One such tool, used for money management, is a merchant cash advance. This can be a valuable cash flow tool, but if misused there could be much worse than a hole in the wall. What are the pros and cons of using such a tool?
The interest rates are incredibly high. This is debt, and eligibility for it is rarely dependent on credit score, meaning merchant cash advance rates are often used as a risk mitigation factor for the lender.
Used properly, a merchant cash advance can save the day. There are two big pros to using a merchant cash advance. It offers quick access to cash, with funds usually becoming available in just a couple of days, and credit is not a huge factor. Therefore, if you do not have great credit, and there are no other readily available options such as a credit card or a line of credit, a merchant cash advance might be right for you – especially during a difficult situation.
It Is All About Balance
There is no perfect, fast solution to cash flow problems. Biz2Credit can guide you through a myriad of options. Visit Biz2Credit today to get started.