For any business that is beginning to handle credit cards online, the process of jumping up to this level of service can be exciting. You are now able to manage a greater volume of business in a much more professional environment. In a single movement forward, the size of your market can grow exponentially.
But all business growth begins with costs. Setting up merchant services is just a small part of it. If you transact hard goods, you need to increase your inventory so that you can satisfy customer demand in a timely fashion. With both hard goods and informational products, you might need to hire additional technology consultants or upgrade your software and bandwidth capabilities. Shipping costs might double or triple overnight.
Or if you already run a Restaurant, bar, Pizza Parlor or just about any other business with credit card processing in place, you might want to open up a second location or expand the existing one.
Financing this growth might be the challenge. But you can get necessary funding in different ways. One quick way, if you already process credit cards, is the Merchant Cash Advance. You need to have been in business for at least one year and already accept credit cards. A Merchant Cash Advance is based on your monthly average credit card transactions. The advance is repaid by a percentage of the merchantâ€™s future credit card transactions. This way, the merchant will not have specific monthly payments to meet, but will only pay as the money come in.
- No Collateral required
- Pay as you grow
- No Application Fees
- Get up to $500,000
- Get the money in 3-7 days
- Need to have processed credit cards for at least 3 months
- Need to have been in business 12 months