All across the country, fewer and fewer Americans are carrying cash. And paper-based checks are on the decline, with just $18.3 billion in check payments in 2010, compared to $37.3 billion just 10 years prior.
Whether you operate a brick-and-mortar business or an e-commerce store, meeting employee salaries, overhead and other cash-dependent expenses can be difficult. A merchant cash advance is one of the most popular ways to tide your business over during a cas hflow crunch. But before you apply, it's important that you understand how merchant cash advance rates and fees work.
Picture this: Business is going well — and because you have a merchant account, the credit card receipts keep streaming in month after month. You’re growing, but you need financing to invest in your business and continue to grow.
Cash flow is a common concern for business owners. For many businesses, merchant cash advances are a viable solution to cash flow challenges while you wait sales income to hit your account. Before you apply for a cash advance, it’s important to do your homework.
They say all purchases have an emotional element. And before continuing with the transaction, we justify this emotion with rational reasons.
But impulse purchases are a little different. They, too, are driven by emotion. But any logical justifications are retroactive (long after the transaction has already taken place).
Credit cards lend themselves well to impulse buying. That's because they remove money from the equation. It’s as though you're not spending cash — you’re spending credits (which is why casinos use chips and carnivals rely on tokens).