Merchant Cash Advances And Hospitality: Perfect Together
If there’s one thing that always will ring true, it’s the awesome way that merchant cash advances can save businesses in the food and hospitality industries from certain doom. As many parts of the country gear up for vacation season, more and more businesses are beginning to worry about that final stretch where actually making ends meet is getting harder – and it’s all the more crucial. You might even call it the “calm before the storm.”
Knowing that you’re going to be flooded with customers in a couple of weeks, or even a couple of months, makes it so easy to look forward to the big payoff. But, the problem with this is that the big payoff might never come if you can’t make it through those last few days without going under. Thankfully, there’s one solution that can help you keep your staff paid and ensure that you have money to invest in a better customer experience through the summer.
We’re talking about merchant cash advances, of course.
Though they may have a bad reputation due to banks’ smear campaigns, the truth is that many different hospitality companies owe their existence to cash advances. Unlike bank loans, which can take months or even years to pass though, cash advances take only a matter of days. Moreover, with cash advances, you also are able to pay them back faster once your cash flow picks up. Also unlike bank loans, cash advances don’t have fees required if you want to pay them back earlier.
For hospitality industries, there’s actually nothing quite as happy as finding a good merchant cash provider. Since banks are notoriously skeptical about restaurants, bars, nightclubs, and hotels, there have been many cases in which banks will discard applications immediately because of the sole fact that the loan would go into the hospitality world. With a 70% approval rate, it’s easy to get the money you need in order to keep things running until money starts coming in once more.
The fact is that there are many companies that are worried about making ends meet until the tourist season starts up once more. There’s nothing wrong with asking for a little bit of help from people who can help you, and potentially allow you to save your company. If you need money and don’t have the time to wait on banks to get it, then call Red Payments. Our goal is to help commerce blossom – and help the businesses that banks turn down with the money they need.