A merchant cash advance is a kind of short-term business loan that gives you an amount of cash that you pay back with an agreed-upon percentage of your sales. Merchant cash advance loans were originally repaid with a percentage of all credit or debit card sales.
Nowadays, there are financial products in NYC under the umbrella of merchant cash advances where you pay a fixed amount regularly (such as every week) as opposed to monthly payments in conventional business loans. At Whitestone Fund, we specialize in merchant cash advances in NYC and refer you to agents most suited to your business needs.
Merchant cash advances are ideal for projects aimed at increasing your profitability. Here are some examples:
1- A Marketing Campaign
A well-executed marketing campaign can quickly improve sales and profits, but you must invest the necessary money for it to give the maximum ROI. Small businesses generally don’t have the kind of cash lying around to run a new full-featured marketing campaign. Many businesses find taking a merchant cash advance loan a perfect solution.
Once your sales increase from the marketing campaign, you’ll be able to pay back the loan easily. If you’re paying a percentage of your sales, lenders will be more willing to accept your loan request, knowing you’re running a marketing campaign. Work with Whitestone Fund to get a cash advance in NYC anywhere between $5,000 and $1,500,000.
2- Web Development
If you’re a brick-and-mortar business that still hasn’t digitized, you stand to benefit a lot from creating a website. Your website may act as a new source of customers or leads for your business, quickly improving profitably. This is another example of projects that lenders love financing.
3- A New Product Launch
If you think there is a need for a new product or service in your target market, you may easily get a low-interest merchant cash advance loan. Launching a new product will improve your revenue, which is as good a reason as any to apply for a loan.
4- Rebranding For a New Audience
Rebranding to target a new demographic is yet another project that promises to bring a lot of money. If you can pitch to the underwriter why a new audience will be interested in your products and services, they’re more likely to approve your loan request.
You may be beginning to see a pattern here. Loans that are profitable for your business are also easier to get approved for. This is exactly why Whitestone Fund exists. We refer businesses to some of the best loan packages and cash advances in NYC for their financial and unique business needs. We boast a loan request acceptance rate of 95%. Click here to apply for a merchant cash advance now!