Are you looking for same day working capital for your roofing business? Are you ready to pay off old debt, buy new equipment, or expand your roofing company? A roofing merchant cash advance might be the best thing for your business.
The roofing industry is expected to double in size in just 8 years with an annual growth rate around 4% per year. There are over 100,000 roofing companies employing 200,000 workers. Roofing is big business, however roofing businesses need working capital to keep the business running smoothly.
What is a Roofing Business Merchant Cash Advance?
A roofing merchant cash advance is an advance that is calculated based on your future revenue. Traditionally, merchant cash advances were paid back using future credit card transactions of your business.
However, there is a newer type of business cash advance that we use that is paid back with general business revenue from your business checking, rather than credit card transactions.
Merchant cash advances are short term advances that are gaining popularity among small business owners because big banks are not shelling out business loans like they used to. Your business pretty much needs perfect credit and collateral to even talk to a bank these days.
Merchant cash advances are ideal for businesses that need money today and have less-than-perfect credit. You also don’t need to put up collateral, and paying back the MCA is hands-free because it is automatically withdrawn through ACH in your business checking account. Chances are you can get a MCA in 8 hours from us.
Using your Merchant Advance to grow your Roofing Company
As a roofing business owner, you know where you need the cash to be used first. There are certain roofing business tricks you can implement, but what it comes down to is what can grow your business the fastest. Here’s 3 income-producing ways to grow your roofing business with a merchant cash advance:
One) Pay off debt: The fastest way to feel relief and walk into a freshly slated business is to pay off all outstanding debts, whether that be to subcontractors or lines of credit, it will really relieve you psychologically which will attract more business to you.
Two) Repair & Replace: We know that roofing equipment can be expensive – a Roofmaster Tear off bar can cost you $900 and roof inspection kits are $2500. It’s important to have solid equipment for the big jobs. You don’t want to be midway through a large job and have a piece of equipment break on you. Time is money and a lot of time can be wasted running to Tractor Supply to get more supplies.
Three) Reviews: Online reviews is the go-to place for most clients these days. I know for myself I will look at online reviews for everything from restaurants to what are the best reviews for work boots on Amazon. It’s crucial to get reviews from your clients and customers, and even ask for 5 star reviews for special discounts after the job is completed. Yelp and Google Reviews are popular review sites you should set up.
How to Get a Roofing Merchant Cash Advance
The requirements to get a roofing merchant cash advance are straightforward: Must be in business for at least 6 months, have a credit score of 450, and a monthly revenue of $5,000 the last three months. You also shouldn’t have any liens, too many NSF charges in your business account, or any outstanding loans someplace else.
Other than that, it is a simple 5 minute application process. You can view and accept or decline the offer. There is no hard credit check either, so it won’t affect your credit.
Thanks for reading roofers! Click the apply link to see your offer today to revamp your roofing. I wish you all the success in the world with your roofing company. I know times are tough, and we are very committed to keeping every roofing business thriving and succeeding in the coming years!