Dry Cleaning Business Financing Service For Unemployed Patrons

A dry cleaning business has extended its offer of free dry cleaning for unemployed job seekers in the Greensboro/High Point/Winston-Salem, NC area. Cleaner World President Chris Edwards says that unemployed patrons need only to bring their most recent statement from the Employment Security Commission as proof of need and Cleaner World will clean one suit or blazer and slacks, along with two dress shirts, or a suit and two blouses, or two dresses per week through December.

Cleaner World originally offered the service in March and planned to end the program last week. With continued unemployment in the area, Edwards says that the dry cleaning business is just doing what it takes to help neighbors in need.

Unemployment Affecting Retail Store Businesses

Retail businesses in the area are also feeling the pinch of unemployment. Retail sales were down 0.1% overall in July according to Department of Commerce statistics. Retailers are pulling out all the stops to entice shoppers into the stores during the all-important back to school retailing season.

The National Federation of Retailers issued a white paper earlier this year on trends that could help small retailers survive the economic downturn. Promising approaches include expanding Internet business opportunities, instituting customer loyalty programs, and offering private label goods as an alternative to more expensive name-brand goods.

If you’re looking for retail business financing to expand your product or service line, consider a business cash advance from Rapid Capital Funding. Contact us today for more information about how your business can self-finance its own expansion during the recession.

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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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Internet Business Financing

What makes the Internet so interesting to entrepreneurs? The Internet provides a viable medium for small, specialty and niche businesses to compete with larger market players. If you’ve got a business and are looking for Internet business financing, look no farther than the small business financing specialists at Rapid Capital Funding.

Rapid Capital Funding offers a loan alternative known as a merchant cash advance that’s ideal for small businesses that want to compete on the Internet with larger or more established firms. A merchant cash advance enables you to factor your future credit card transactions now. You get the cash you need up front and incredibly easy repayment terms.

With a merchant cash advance, there are no monthly minimum payments to make. Each transaction helps to repay your merchant cash advance. When business is good, your advance is repaid faster. When business slows down, so does the rate of repayment. It’s an outstanding repayment plan for small businesses that are looking for Internet business financing or small business financing.

A merchant cash advance doesn’t even depend upon having good credit. You can still qualify for a merchant cash advance even if your credit is poor. If your business accepts Visa or MasterCard and generates at least $2,500 per month in credit and debit receipts, you’re likely qualified for a merchant cash advance from Rapid Capital Funding.

Contact Rapid Capital Funding today and see how you can put your future credit card transactions to work for you today!

Photo Credit: Giuseppe Leto Barone, via Flickr

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Where Small Business Should Save And Spend

For small business owners, allocating limited resources is a major question. In what areas should spending be held constant or increased, and what can be cut? Generally, spending decisions depend upon the type of business you operate, but many experts say that technology spending is a safe bet, even in recessionary times.

Technology tends to reduce operating costs, as long as it makes sense for a business. Check the return on investment carefully on technology spending before you write any checks. You may also consider leasing a system for a year before you buy. The overall cost of leasing may be more expensive, but you’ll quickly be able to tell whether your investment will pay off.

Marketing is also a safe spending area, but don’t assume that marketing is the same as advertising. Newspapers will tell you that print advertising is down, forcing publication costs up. More consumers are turning to the Internet for basic product information, and to help them locate local retailers who sell the products they’re looking for.

Word-of-mouth marketing can also be highly effective at drawing in more business. Look to your existing customer base for ideas that will help you spread the word about your business cost-effectively and where you should concentrate your marketing efforts.

Where should you conserve? Right now, businesses are looking to scale back on rent. This can be a tricky proposition because the success of some businesses, like restaurants, is location-dependent. If your lease contract is due to expire, start talking to your landlord about getting a break in the rent on your location. Check other locales and use this information to justify the reduction you’re looking for.

Unexpected expenses can doom a small business. If you don’t have a plan to handle sudden or unplanned operating costs, consider using a merchant cash advance. A merchant cash advance is an ideal way to get cash into your small business quickly. Most merchant cash advances can be arranged in less than 72 hours, and special financing programs are available for restaurants.

If you’d like more information about a merchant cash advance, contact Rapid Capital Funding today about cash options available for your business.

Photo Credit: Ove Tøpfer

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