If you’re the owner of a liquor store, you know how competitive the liquor store business is and how difficult it is to secure a bank loan for working capital needs or expansion plans. There is an easier, quicker financing solution – merchant cash advance for liquor stores.
Upfront Amount within Days
A cash advance for a liquor store can provide your business with an upfront amount within days. MCA providers offer much quicker approval times than banks, which translates into faster cash in hand. Also, MCA providers are less stringent with qualification requirements. Their decision to fund rests on incoming revenues and card sales rather than on perfect credit scores. Applying for a cash advance takes minutes and requires minimal documentation.
Pay From Future Receivables
A business owner pays back a merchant cash advance for liquor stores from a portion of future card sales. Remittances can be made on a daily or weekly basis depending on the terms of the contract until the entire advanced amount and applicable fees are paid off completely. This flexibility allows business owners to maintain cash flow during off-season periods and accelerate remittances during peak periods. Furthermore, MCA lenders do not require you to have collateral- an attractive feature for small business owners.
Use As You See Fit
An attractive feature of a cash advance for liquor stores is that it can be used for any business purpose that you see fit. Some typical uses include buying new equipment such as a new cash register, upgrading technology, purchasing additional inventory to meet seasonal demand, purchasing inventory during limited-period discount offers, hiring additional staff during peak season, meeting payroll expenses in the lean season, opening at a new location, running a promotional campaign or any other business situation where you need quick access to financing.
Not sure if a cash advance is an ideal solution for your needs? Want to explore other financing solutions? Contact a financing company offering multiple financing products and speak to one of their funding specialists!