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Need Dentistry Business Financing To Upgrade Your Practice?
A new poll released Thursday by the Kaiser Family Foundation suggests that six in ten American families are economizing on health care costs by delaying doctor visits, dental work, and prescription refills. This delay can be significant for a practitioner like a dentist. Finding
dentistry business financing from a bank can be a challenge when your receivables are down.
Instead of working with your bank, consider taking a merchant cash advance for your small business. A merchant cash advance doesn’t tie you down to minimum monthly payments, collateral or personal guarantees.
A merchant cash advance allows you to leverage your future credit and debit card sales right now. You get the cash you need in exchange for selling a portion of your future transactions. As the transactions are processed, your merchant cash advance is repaid. Only a small portion of each transaction is used to repay the advance, so you still get the cash you need to run your small business.
Because repayment of the merchant cash advance is tied to transaction processing, we get paid only when you get paid by credit card. The cash portion of your business isn’t affected, so a merchant cash advance doesn’t commit your incoming cash sales to the repayment of your advance.
Small businesses are having a tough time in today’s economy, and even professionals are affected. A merchant cash advance from Rapid Capital Funding can get you the dentistry business financing you need along with a repayment method you can afford. Use the cash to expand your business, replace old equipment, add new equipment or whatever you need.
Contact Rapid Capital Funding today and let us show you how a merchant cash advance can provide the dentistry business financing your small business needs!
Photo Credit: Jennifer Coughenour
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Merchant Cash Advance Offers Dental Business Loan Alternative
Dental practices aren’t immune from the recession. Patients are struggling with other bills and may not be making as many dental visits each year. As a dentist, you may also need to replace aging equipment or pay higher rents to stay in your current location. If patients and insurance companies are paying their bills later, how can you afford to make needed improvements for your business? A
merchant cash advance offers a great
dental business loan alternative.
A merchant cash advance from Rapid Capital Funding allows you to sell a portion of your future credit card transactions in exchange for cash up front. As you register credit card transactions, a small portion of the sale goes to repay your advance. Depending upon your average monthly credit card receivables, you can get up to $250,000 in cash. What kind of improvements could you make in your practice with that kind of cash?
Merchant cash advances aren’t bank loans. There are no long application forms to fill out, and no long waiting period to find out whether your application has been approved. Most merchant cash advances are approved within hours. That means you and your staff spend less time trying to make the bank happy and more time working to make your patients happy.
Contact Rapid Capital Funding today to find out how a merchant cash advance can make a real difference for your dental practice.
Photo Credit: Regina Timoteo
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Survey Shows Small Business Feeling Big Pains
The 2009 Channel Insider Market Pulse survey shows that
small businesses are cutting back on information technology (IT) services, which have long been considered “resilient” in a recession. Overall, businesses are reducing IT expenditures, but small businesses have really put the skids on IT spending this year. Small businesses are delaying IT and networking upgrades by improving their maintenance, and are seeking out “friendly” financing options when they do make purchases.
In addition, small businesses are re-deploying equipment that they’ve retired once, or are extending the useful life of equipment by repurposing it for other tasks. Repairs on broken equipment are also up significantly. Of more concern is the fact that nearly one-quarter of respondents report that their IT contracts are being cancelled. The survey also shows that small and medium-sized businesses are outsourcing their IT services at a higher rate in order to reduce their payrolls.
IT is an important component for most businesses today, but IT services aren’t cheap. If you need to replace computer and electronic equipment but can’t find the terms you need to make the deal happen, consider a merchant cash advance as an alternative to financing.
A merchant cash advance leverages the power of your future credit card transactions to give you the cash you need right now. There are no long applications to wade through, no long waiting periods to find out whether your advance has been approved and no hassles about how you plan to spend the cash.
If your business is registered in the US, accepts Visa or MasterCard and has credit or debit sales of $2,500 or more per month, there’s an excellent chance that you’ll be able to take advantage of a merchant cash advance. Once you have your cash, there are no monthly bills to pay. Your advance is repaid as your regular credit card transactions are processed. It’s that simple.
If you need cash to replace equipment or make your business run efficiently and you can’t find the financing you need, consider a merchant cash advance from Rapid Capital Funding.
Photo Credit: Ilker
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Alternatives To Business Loans
The Equipment Leasing and Finance Association reports that the December Monthly Leasing and Finance Index showed a drop of 13.3 percent in December, compared to the same period in 2007. The index tracks equipment-financing activity. The MLFI-25 index is used in conjunction with other economic reports to provide an overall picture of the health of manufacturing and production in the United States.
New business volume declined by 3.6 percent. One bright spot in the report shows that month-to-month new business volume increased 120 percent in December, compared to figures for November. The report also tracks the status of receivables over 30 days old. The index shows a drop of 3.7 percent in December over outstanding receivables in November. Credit approvals dropped to an all-time low of 71.5 percent and more than one-third of responding businesses reported fewer transactions in the month of December.
The availability of credit continues to affect businesses and their production capacity. The Small Business Administration reports that its 504-loan program, designed to help small firms purchase major assets fell 82 percent in the first quarter of 2009, compared to the same time period in 2008. 7(a) loans, designed to help small businesses start up, fell by nearly half.
Loan volumes are significantly lower, in part, because the programs are administered through private lenders. While the federal government backs 85% of each SBA loan, applicants must still meet tougher lending standards. Even with only 15% capital at risk, many banks feel that start-up companies and those that want to expand represent too much risk.
One option for small business owners is a business cash advance. These loans provide unsecured working capital for businesses and are based on a merchant’s future credit card transactions and are often easier to acquire than a small business administration loan or a loan from a private lender. To get a business cash advance, the business must be registered in the US, accept Visa or MasterCard and have credit card sales that exceed $2,500 per month. Unlike loans, the business cash advance can be used for anything, including the purchase of equipment.
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