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Bar And Nightclub Financing: Try A Business Cash Advance
is available through
Rapid Capital Funding, and many entertainment venues are taking the opportunity to remodel. A recession is a good time to consider a remodeling project because labor and materials costs can be kept in line with a tight budget. Unfortunately, many banks aren’t extending bar and nightclub financing right now. A
business cash advance is a great
business loan alternative that will help finance any remodeling project small or large.
A business cash advance isn’t a business loan; it’s a business loan alternative. Rapid Capital Funding purchases a portion of your future credit card transactions and provides your business with cash up front in exchange. As your transactions come in, a small percentage of each sale is used to pay the business cash advance. The remainder comes back to you.
A business cash advance is the ideal tool for bar and nightclub financing. When your business is good, your repayment occurs at a faster rate. When sales drop off, your repayment rate does, too. It’s the ideal way to cope with small and large fluctuations in your business cycle.
If your business accepts Visa or MasterCard and generates credit or debit receipts of as little as $2,500 per month, your business cash advance request is likely to be approved. Ninety-five percent of business owners who meet these criteria get the cash they need from Rapid Capital Funding within days or even hours of their business cash advance request.
Finally, a business loan alternative that makes sense for the way you do business. Contact Rapid Capital Funding today to find out more about our bar and nightclub financing.
Photo Credit: Diego Baseggio
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Thinking About A Merchant Cash Advance?
If you’ve never gotten a merchant cash advance before, you probably have some questions about how the process works, and the potential risks and rewards of working with a merchant cash advance provider. The truth is that merchant cash advances are growing at a double-digit rate as small businesses look for ways to shore up their cash flow, or get financing that banks and private lenders won’t provide.
Ideally, merchant cash advances work best for businesses that have a lot of credit card transactions. These businesses include bars, restaurants, retail outlets, and personal service providers like dentists and hair stylists. The cash advance, which is usually capped by the amount of monthly credit and debit card receipts, is paid back over time (often a period of months). A small amount of each credit card transaction is forwarded to the advance company to repay the advance. Normally, the advance is paid back as a percentage of sales volume, so when sales are down, the repayment amount also decreases.
This is great for businesses that need a healthy cash flow to remain in operation. Merchant cash advances can be used for just about anything – paying bills or taxes, shoring up cash reserves, covering unexpected expenses, financing an expansion or just about anything else you have in mind. There are no monthly bills to pay – the repayment occurs as credit card transactions are processed.
It’s important to understand the agreements you enter into when you accept a merchant cash advance. Most business owners who have gotten a merchant cash advance report that they are very satisfied with the transaction. Some businesses have an advance agreement that works like a line of credit, so they can draw on cash whenever they need to. Other merchants use merchant cash advances only for those occasions when they need cash immediately.
Rapid Capital Funding can help you secure a merchant cash advance for your business. If you’d like more information about how a merchant cash advance can work for you, contact Rapid Capital Funding today.
Photo Credit: Lotus Head
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Tight Credit For Small Businesses
Small businesses are in a fight for their very survival. At a time when small businesses need credit more than ever, most banks are restricting credit. For businesses like
restaurants and bars, financing under these restrictions can be deadly.
The recession has hit these - and many other small businesses - hard. Cash flow, especially during a recession, is the difference between businesses that survive and those that don’t.
For businesses that have been turned down for loans or lines of credit, another option exists. For US-based businesses that accept Visa or MasterCard, and have receipts of at least $2,500 per month, a merchant cash advance can provide cash for your business whenever the need arises.
A merchant cash advance from Rapid Capital Funding leverages future credit card sales. As the credit card transactions come in, the advance is repaid, along with a small transaction fee. There are no monthly loan payments to make and no balloon payments. As your sales come in, your cash advance is repaid.
Ninety-five percent of merchants who apply for a cash advance get the cash they need within 72 hours. Rapid Capital Funding also has a special restaurant financing program to meet the special needs of restaurant and bar businesses.
Don’t go without the cash you need to make your business run smoothly. Contact Rapid Capital Funding for your merchant cash advance needs.
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State Laws May, Boost, Bust Bar Businesses
Fifteen states prohibit the sale of liquor on Sundays but six of them may be rethinking their prohibition on booze. Alabama, Connecticut, Georgia, Indiana, Minnesota and Texas may dump their bans on Sunday drinking. One of the prime motivators for Sunday liquor sales is the tax revenue such sales can generate. According to the Distilled Spirits Council, such a move would increase state liquor revenues by 5-8 percent, and would have a similar effect on
bar businesses.
Liquor sales tend to weather recessions well, and all states control the sale, alcohol content – and in some cases the price – of liquor. Along with the sales, the states impose taxes on liquor, and its performance during a recession makes it an attractive target for lawmakers looking to line the state coffers with a little extra silver.
According to the Distilled Spirits Council of the United States, liquor revenues rose almost 3 percent in 2008. While that may seem like a bright spot in an otherwise slow economy, annual average growth has been measured at about 6 percent per year since 2000. Nearly half of all states are currently considering proposals to raise liquor taxes.
The regulation of liquor sales is of prime importance to entrepreneurs in the bar business. Other laws not directly related to liquor - like bans on smoking in public – can also make a noticeable impact on a business’ bottom line. North Carolina is currently considering a statewide ban on smoking in restaurants and bars. Bar owners there are concerned that a ban would reduce their already-suffering revenues. In addition to banning smoking in bars, the new law – if approved – would prevent smokers from lighting up in public work spaces, bowling alleys and restaurants.
Restaurants and bars are already feeling the effects of the recession. Regular patrons are cutting back on their expenses, and dining seems to be a favorite cutback target. The instability of the economy can take its toll on a restaurant or bar. Periodic dips in cash flow can create problems.
That’s where a merchant cash advance can help. A merchant cash advance isn’t a loan; it’s an advance on your future sales. If you own a business that accepts Visa or MasterCard, and has credit sales of at least $2,500 per month, a merchant cash advance can put money in your hands quickly and without the hassle of a bank loan. Ask about our special restaurant financing program.
Ninety five percent of merchants who apply for a merchant cash advance are approved and the money can be in your hands in seven business days or less. Even businesses with less-than-perfect credit can receive cash advances.
When your business is on the line, don’t wait. When you need cash, contact Rapid Capital Funding and ask about a merchant cash advance for your business.
Photo Credit: Rob Owen-Wahl
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