The onslaught of the devastation caused by COVID-19 has left many businesses reeling behind in their sales and profits. This pandemic is comparable to some of history’s worst plagues. Many business houses have had to shut shop, either temporarily or permanently. Whether businesses are operating or not, there are certain fixed expenses that will be incurred at regular intervals, such as wages, rent, utilities, and inventory. In order to stay afloat and to still have the cash flow to meet these expenses, the best and immediate option is to choose a merchant cash advance from Crest Hill Capital Limited.
Merchant Cash Advance Basics
Business owners who require quick access to cash to fund their immediate requirements can go for finance options provided by banks, which involve long and tedious procedures. Alternatively, they can look for service providers who offer cash advance based on the past performance of the business. A merchant cash advance isn’t technically a loan, but instead, it acts as a sort of an advance payment against future sales. This type of advance is available to businesses that have a steady sales volume and have had consistent revenue in the past with a clear path of proving future sales. Businesses will receive the cash advance directly credited to the business account, and repayment will be made on agreed terms, usually daily or weekly. Getting a merchant cash advance is a fairly quick process.
Advantages of Merchant Cash Advance
A merchant cash advance provides businesses with the flexibility to use funds as they deem fit. Repayment plans are also flexible. If, for example, the repayment plan is based on the percentage of sales, you don’t have to worry too much when sales volumes are low. This has been clearly demonstrated during the COVID-19 crisis. Businesses with variable or seasonal sales will greatly benefit from this.
Getting a merchant cash advance from Crest Hill Capital Limited is a fairly simple procedure. Once the application is processed, you could receive your cash in as little as a day or two. Your credit history is not as important as your sales history in obtaining the cash advance. A proven track record of sales in the past year will be enough for you to qualify for a cash advance.
A cash advance is unsecured, which means that none of your existing assets is tied up with the cash advance. For small businesses, this will be a welcome perk.
Is This Right for You?
Imagine a scenario where you are yet to receive payment from customers, but you still need to pay staff salaries and rent. Or you have the opportunity to acquire more inventory at a festive discount. Or perhaps you have the opportunity to showcase your product at a worldwide expo. How would you fulfil the financial demands of these valid business requirements? A cash advance from Crest Hill Capital Limited is perhaps the quickest way to infuse some additional capital to keep you ahead of the game.
Cash advances are the best short-term solutions to meet your immediate business requirements when your resources are limited. Considering the efficiency in processing cash advances, business decisions can be made quicker, having a positive impact on the overall functioning of the business. Since the amount paid back is directly proportional to sales, there is lesser of a burden for business owners to pay back when sales are low. When you are in need of an immediate solution for working capital, consider opting for a cash advance. This will ease the burden on your business and will have a positive impact on its entire functioning.
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