The transportation industry generates around $800 Billion a year. From taxi businesses to logistics to car rentals, transportation is big business and what keeps America moving. However, transportation businesses need working capital to run smoothly. This is where same day capital might help.
Why Same Day Capital?
Same day capital gives you a lump sum of money today as a business cash advance. Working capital is the difference between your bills and your profit basically, and most businesses don’t have enough working capital so 82% of businesses fail because of this. Working capital is what is needed for the day to day expenses, running costs, and the occasional emergency.
What is a Same Day Business Cash Advance?
A business cash advance is in the same financial family as a merchant cash advance. A merchant cash advance is a short term advance, usually under one year, and is paid back through your business’ future credit card transactions, right out of your business checking account through ACH.
A business cash advance, on the other hand, doesn’t look at or deduct from your future credit card transactions, but rather looks at your general business revenue to gauge future payments. Payments still come out through ACH (automated clearing house) on a daily or weekly basis, which gives you a hands free experience with repayment.
Benefits of a Transportation Business Cash Advance
The most obvious reason to get a same day capital advance is that you really can get funds the same business day. If you apply in the morning, chances are you will have funds by the afternoon if you meet the requirements.
That’s the next thing: Business cash advances don’t require you to have a near-perfect credit score like big banks do. On the other hand, you can have a credit score of 450 for up to $25,000 the same day.
Big banks are not your friends anymore. They turned their backs on small businesses right after the pandemic started. It was feast or famine for the entire world, and of course big banks came out unscathed and left over 200,000 small businesses dead in the water, gone, completely closed.
With a same day capital advance, you can get the funds and do what you choose with them and not have to put up collateral or do a bunch of paperwork, and wait weeks to get the funds. It’s as simple as filling out a 5 minute application, viewing the terms and accepting or declining them. No hard credit pull.
How to use your Business Advance to Grow your Business
The transportation industry is a vast industry with so many businesses. We can talk all day about what you can do with the money, but the first thing that most business owners should do is pay off any previous debt, fix equipment, buy a new car, or hire an accountant so you can breathe easy knowing that your books are in order.
You can also get more attention to your business by advertising. A lot of cutting-edge businesses are hiring social media marketers to get their brand out to all the social media platforms, and I’m not just talking about Facebook and twitter. There’s up and coming platforms like TikTok and MeWe that you should check out.
Same day capital is what every struggling business needs today, right now, not three weeks from now. The workplace is evolving at a rapid pace and small businesses are either dying or thriving, there’s no in-between. So, click the link below to read more about our funding and god bless you.
Learn More About Same Day Capital
Erik C. Johnson
Independent DAC Agent