Guest post by Kelly Gregorio
As an entrepreneur you’re constantly on the lookout for ways to get ahead. Investments, growth and productivity are keys to your business’s overall success. Unfortunately when it comes to securing additional working capital, the traditional avenues seem to put up roadblocks for the small business community (with demands like perfect credit and upfront collateral).
However, there are alternatives. Some, in fact, that were designed with the small business owner in mind; for example, the merchant cash advance. Just as in life and in business, a preliminary education is the best way to guide your decisions. Read on to discover three options that will enhance your understanding of the flexible funding that’s ready to serve your working capital needs.
Option 1: Spending
Applying for a merchant cash advance means that you’re looking for funds anywhere between $5,000-500,000 and with funding in your account as fast as seven business days, speed is on your side. Unlike a traditional lending situation, say for example, grant funding (which would require you to budget out exactly how you plan to spend the funds) the merchant cash advance gives recipients the freedom to spend funds however they choose.