Dry Cleaners Business Financing May Just Be A Merchant Cash Advance

Dry cleaners business financing is something of a trick for banks during a recession. Dry cleaners, it turns out, are highly susceptible to changes in consumer spending. A survey conducted in March 2008 of dry cleaner operators showed that three of four operators said that the US was already in recession at that time, months before the official pronouncment of recession was issued. So what do small business owners know that economists don’t?

Dry cleaners deal with working professionals every day, and have good insight into changes in employment, and people’s overall willingness to spend money. Dry cleaning is considered a luxury, so when a recession starts, dry cleaners’ business financing reflects the change right away. Operators are also finding that a better way to get the dry cleaner business financing they need is to get a merchant cash advance from Rapid Capital Funding.

A merchant cash advance puts money in your account up-front. You sell a portion of your future credit card sales to Rapid Capital Funding. In exchange, you get the money you need to improve your small business, pay bills, buy or lease new equipment, or make your small business more cost-effective to operate.

As each new credit card transaction is processed, a small percentage of the sale is returned to Rapid Capital Funding to repay the merchant cash advance. The rest of the sale comes back to you. Three out of four small businesses that take a merchant cash advance take a second one after the first advance has been repaid. That says a lot about how a merchant cash advance can help a small business like a dry cleaner get the cash they need when they need it, without having to wait and without having to provide mountains of documentation.

Contact Rapid Capital Funding today and let us show you how a merchant cash advance can provide the dry cleaners business financing you need to ride out the recession.

Photo Credit: Lotus Head

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