Cell Phone Store Business Financing: Loan Alternative

Consumer use of cell phones is changing. A new survey by CTIA- a wireless phone trade group – shows that just 13 percent of Americans don’t have a cell phone. According to the group, there are 270 million cell phones in use in the US right now and more than 20 percent of households have no landline at all, and 15 percent of users say they take calls more often on their cell phones than they do on their landlines. So, does this mean the end of the landline is in sight? Probably not, but it does mean that cell phones have become increasingly attractive to consumers in the last decade. If you’re looking for cell phone store business financing, a loan alternative from Rapid Capital Funding may give you the working capital you need to take advantage of this shift in consumer demand.

Rapid Capital Funding’s merchant cash advance is a loan alternative that makes sense for small businesses for whom credit cards comprise 80% or more of the total sales receipts. A merchant cash advance enables you to sell a portion of your future credit card transactions for cash up front. This puts cash in your pocket immediately and there are no restrictions on how you spend the money. Use it to expand your space or your inventory, pay bills, hire staff or offer new services.

As a loan alternative, there is no minimum monthly payment to make. Instead, each time you process a credit card transaction, a small portion of the sale is used to repay your loan alternative. You get the working capital you need and easy repayment terms. When business is good, your repayment rate increases and when things slow down, so does your loan alternative repayment. The merchant cash advance makes so much sense for small businesses that about 3 out of 4 merchants who take one come back for a second after the first one is repaid.

Don’t hassle with the bank for the cash you need, only to be turned down in a few weeks. Contact Rapid Capital Funding today for information on how you can put your future credit card transactions to work for you right now!

Photo Credit: Michael Mistretta, via Flickr

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