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.