Merchant Cash Advance: 5 Things You Need to Know as a Small Business Owner

As a business owner, you’re well aware that cash flow can be a serious problem sometimes. Even if your business is profitable, you are bound to experience financial difficulties under certain circumstances. Financial chaos might be just around the corner if payroll, inventory invoices, and commercial space rent are all due at the same time when you’re dealing with a shortage of cash on hand.

If you’ve ever experienced this strain as a small business owner, then you know that getting the financial help you need, when you need it, is of utmost importance. However, attaining a financial loan through a traditional route, such as a bank, can be both time consuming and difficult. They prove even more obsolete when your business depends on working capital to keep its doors open to customers. In such cases, what you need is money in your hands as soon as possible, which can only be attained through a merchant financing solution such as a merchant cash advance.

Merchant cash advance is a great substitute for traditional business loans that provides a lump-sum amount to small business owners in exchange for a daily percentage of credit card and/or debit card sales. As an alternative financing solution to traditional loans, merchant cash advance offers flexible financing with less paperwork and quicker funding turnaround. But how do you know which company to choose to apply for a merchant cash advance? We’ve identified five things you should look out for when making that decision:

Is the merchant cash advance provider reliable?

If you find yourself in need of a merchant cash advance, chances are you need the process to be fast and have access to working capital right away. Before you choose to apply for a loan, make sure that the provider is reliable and will be able to provide you with the funds you need in time.

At Kingsmen Capital, we work with you hand in hand to make sure that you have the financing you need to make sure that your business runs smoothly and help you serve your customers efficiently. Check our reviews and #FreshlyFunded posts throughout our social media accounts to find out we’ve helped different types of businesses throughout Canada.

 Does the merchant cash advance provider offer great customer service?

One of the best ways to find out if a company offers great customer services is to see how they deal with problems and difficult situations. Ask questions and seek solutions for difficult scenarios that your business is likely to face in order to test the merchant cash advance providers’ competency and see how efficient they are at solving problems, particularly during peak hours in your business day. Look for a provider who can work with you on a personal level and help resolve problems that may arise during and after the process of your application.

At Kingsmen Capital, our advisors work closely with you to help identify the best solution to your businesses’ financial needs. We look beyond your initial request for financing and assist you to reach new heights when it comes to your business.

How does the merchant advance provider protect and secure your business information?

We live in a time where cyber attacks and data breaches are more prevalent than ever, which is why it’s important that any third-party you deal with protects and secures your businesses information, especially when they have access to your customer details.

At Kingsmen Capital, we place emphasis on securing and protecting all of our customer data and ensuring that we abide by the industry safety standards. If you would like to learn more about our security features and policies, please contact us here.

Does the merchant cash advance provider offer great rates?

Although you shouldn’t just choose a merchant cash advance provider based on how much you will pay, rates are nonetheless an important thing to consider. Look for a provider that offers transparency into its rates structure, so you understand exactly what you are being charged for and when. Review all the terms and conditions before signing an agreement, and ask questions if you are unsure about any of the fees. It’s worth the time to research providers and choose one that works with you and gives you the most straightforward answers.

At Kingsmen Capital, we pride ourselves in maintaining close-knit relationships with our customers and provide them one-on-one sessions that help answer all of their questions and queries. We also offer straightforward and transparent payback policies with the best rates available. If you would like to speak to one of our advisors today, start here.

Will the merchant cash advance provider be willing to help me with future business needs?

When choosing a merchant cash advance provider, look for one that is able to offer more financial products and services to you. Chances are, you won’t have to go out searching for another reputable company and can have one provider manage all your business needs.

Did you know that Kingsmen Capital offers a wide range of both financial and business services? Visit our service page here to learn more.

 

 

 

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