Business Cash Advance Can Provide Shoe Store Business Financing In A Recession

Looking for a good business opportunity in the recession? Try owning a shoe repair shop. Shoe store business financing may be difficult to acquire during a recession, but frugal consumers have pumped up the bottom lines of shoe repair stores around the country. The recession has changed the way people think about some things, shoe repair being one of them. Repairing a shoe rather than replacing it can reduce a consumer’s overall costs by 75% or more.

Another new thing: many small business owners aren’t turning to their banks for capital. They’re looking for small business loan alternatives from non-traditional lenders. The near-ubiquitous acceptance of credit cards among the merchant community has opened up another financing alternative: the business cash advance. With a business cash advance, business owners are funding their own futures by selling a portion of their future credit card transactions to a factor – a business that will pay cash up front for a stake in the business’s transactions. Wholesalers have used factors for years, in part to help retailers finance seasonal merchandise purchases.

Business cash advances are in effect factors for small businesses. By selling a portion of their future credit card transactions, business owners can get cash up front in a matter of hours or days, rather than waiting for weeks to find out whether a business loan application has been accepted by the bank, Business cash advances are ideal for operations whose customers make heavy use of credit cards. These include retailers, service providers, restaurants, gas stations and dry cleaning businesses. If you’re a small business owner and want to learn more about credit card factoring and business cash advances, contact Rapid Capital Funding today.

Photo Credit: NCinDC, via Flickr

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