How A Cash Advance can Greatly Benefit Medical Stores Looking to Grow

When it comes to the healthcare sector, unlike many other industries, the core focus lies on patient welfare rather than on finance or funds. However, there may be several instances when funds are required for procuring equipment, making improvements, or expanding the store. Medical store financing is a great solution to ease your funding worries as it is simple, transparent, and tremendously client-friendly.

Apply In Three Easy Steps

Many medical store owners may shy away from contacting traditional lending institutions because of the sheer amount of paperwork involved. On the contrary, you can secure a merchant cash advance for a medical store in just three simple steps- application, verification, and receipt of funds. Yes, it is that effortless and uncomplicated. This simplicity in the process has benefitted many store owners as they do not have to run from pillar to post, nor do they lose out on time.

Start On A Fresh Slate

As a new medical store business owner, it not uncommon that you may not have a perfect credit score. At a bank, this would definitely work against you but there are companies that offer financial assistance as their primary intention is to help struggling business owners who need funds quickly. Therefore, since the approval is not solely based on your credit score, this gives you the freedom to apply, irrespective of your past financial history.

No Collateral

One main area of concern for store owners is that banks normally ask for collateral in terms of property or other assets. This becomes difficult especially for new businesses as it is risky to offer collateral when you are unsure of future sales. With medical store financing, you need not worry about this as no collateral is required in any form. In fact, repayment of the cash advance is very flexible and is based on your future returns. This removes any element of risk or uncertainty from the equation.

Freedom To Choose

When you are approved for a merchant cash advance for a medical store you are free to use the funds in the way you want. There are no fixed parameters that limit your flexibility to fund different projects. As a medical store owner, you may require funds for several purposes such as staffing, adding inventory, automation, etc. Further, these requirements may change from time to time. Therefore, having the flexibility to choose is a huge benefit when you may not be sure of which project requires capital immediately.

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