Is your business struggling to get by on lack of funds? Are you in dire need of funding and can’t wait for the lengthy bank process? Same day capital might be the answer. You can receive up to $25,000 in working capital for your business. Read more to find out the details.
What is Same Day Capital?
Capital, by definition, is any asset, property, or financial asset that a business has access to. The most common term implies capital as money, but it can be assets, intellectual property, patents, or any other type of business ownership.
Same day capital is a one-of-a-kind financial service that helps you literally get same day funding for your business. The capital is more of a business cash advance, rather than a business loan. There are many benefits to using a business cash advance instead of a traditional bank.
One) You don’t need to put up any collateral.
Two) You only need a credit score of 450.
Three) You only need to make $5,000 per month.
Four) You only need to be in business for six months.
Five) Receive up to $25,000 the same business day.
Because big banks have tightened their lending requirements, more and more small businesses are relying upon alternative financial resources, and merchant cash advances and business cash advances are at the top and very popular right now.
The difference between a merchant cash advance and a business cash advance is that a merchant cash advance typically funds you on the future credit card transactions of your business, whereas a business cash advance funds you based on general business revenue.
In both types of advances, the payment for the advance comes out of a business checking account through ACH, some lenders take out daily payments, while others take out weekly. Either way, it’s a hands free way to pay back your advance so you can think about more important things, like running your business!
How can you use same day capital?
The great thing about same day business advances, is that you can use the money as you choose, unlike big banks that watch over how you use the funds.
The most common ways to use same day capital is to pay off any past liabilities and late accounts. If you own a restaurant, or any other capital intensive business, you might need to buy new equipment right away.
Ways to use working capital for your business
It is wise to use all of your advance on income-producing processes of your business. One way to see any cracks in your business operations and to plug up any money-draining activities is to get an extensive or forensic business audit from a new accountant. Many business owners are so focused on a couple business functions that they overlook, sometimes, glaring bad business practices.
Another crucial facet of your business that can’t be overlooked, especially in the service industry, is poor staff quality. Nothing irks me more than going to a restaurant that isn’t busy, but the server takes 30 minutes to come over.
This might be an obvious problem for business owners, but once again, the owner of the business might be oblivious to what’s really going on with their business.
If you have ever watched the show “The profit” on CNBC, you would see this on practically every episode, i.e. the business owner is oblivious to certain glaring business issues.
So, back to my point, it is crucial to rehire quality staff, and think about using some of your same day capital advance to create awesome hiring incentives and use hiring platforms, like Indeed and Zip Recruiter, to find quality candidates. If you live in the city, it will be easy to find the best of the best talent, and most workers have awesome resumes you can judge by their track record.
Some of the popular industries we have helped
Some of the hardest hit industries from the pandemic are hospitality, manufacturing, entertainment industry, construction, and the self-employed.
Any business that deals with people in person, or businesses that are part of the supply chain, was greatly affected. Here’s some popular industries we have helped:
Restaurant Working Capital
Transportation Working Capital
Healthcare Working Capital
Having been in the restaurant industry for over 20 years, I saw many restaurants close over the years, especially in 2020. The saddest part is that some of these restaurants in our little town lasted 10 to 20 years without a hiccup until last year.
Why use us for Same Day Capital
We are committed to helping the small business owner, because we are small business owners ourselves. Big banks have left us behind, as we deal with the over 200,000 businesses that have shut down permanently within just a year and a half.
We offer transparent terms, a dedicated account manager, and an easy 5 minute application to see if you qualify. There is no hard credit pull, and you can decide to decline or accept the offer.
Again, we are the only provider of the same day business advance, with the easiest requirements, i.e. six months in business, 450 credit score, $5k per month.
Thanks for reading. Please click the link below to apply or read more about us or click the banner to the side to get to the application. God bless you and to the success of your business!
APPLY HERE
Sincerely,
Erik C. Johnson
