A Merchant Cash Advance Can Help You With Payroll Taxes

Posted in Business Cash Advances, Business Loans, Restaurant Financing, Small Business Financing, Taxes by Eileen
March 15, 2009

Nothing in life is certain but death and taxes. And payroll taxes for small businesses are due on Monday, March 16. If you scramble each quarter or half to make your payroll tax payments, consider a merchant cash advance to help you through the rough spots.

A merchant cash advance leverages your future credit card transactions to deliver the cash you need right now. A merchant cash advance isn’t like a loan. There are no long application forms to fill out, no collateral to put up. Your credit doesn’t even play a big role in whether you are approved for your advance.

The major factors in securing a cash advance for your US-based business are whether or not you accept Visa or MasterCard, and whether your business generates credit and debit receipts of at least $2,500 each month. If so, you’re likely to be approved for a cash advance.

Once the cash is in your hands, your credit card transactions go to work to pay back the advance. A small portion of each transaction is diverted to repay the advance. The more transactions you register, the faster your advance is repaid. When business slows down, so does the rate of repayment.

The flexibility of a merchant cash advance means that your repayment matches your business cycles. Rapid Capital Funding also has special restaurant financing plans. You can always get the cash you need to pay bills, buy equipment, or cover unexpected expenses like repairs. You can also use the cash to pay taxes, make your payroll or cover late receivables.

Unlike a bank, we don’t want reams of financial statements, or an explanation of why you need the money. We don’t dive deep into your financial records or make you wait weeks or months for approval. In most cases, we can get you the cash you need in hours or days.

Cash is king and Rapid Capital Funding can help your business get the cash it needs to keep moving, even in these troubled times. Contact Rapid Capital Funding today for more information on how we can help you.

Photo Credit: Steve Woods