Dry Cleaners Business Financing: Merchant Cash Advance

For dry cleaners businesses, going green can be expensive, and dry cleaners business financing is considered a hard sell for banks. Compounding the problem is a confusing turn of stance by the EPA on perchloroethylene (PCE) a dry cleaning solvent that has been linked to cancers in humans, as well as neurological problems and liver damage.

The EPA has already ordered dry cleaners to eliminate the use of PCE by 2020, but is now reconsidering its ruling. The ruling applies only to dry cleaners businesses in residential buildings, but advocacy groups are trying to get the ban extended to commercial buildings as well. The use of PCE is controversial, even among dry cleaners. Increased regulations and costs associated with PCE are causing more dry cleaners businesses to look for alternatives to PCE. For cleaners who are interested in incorporating new technologies into their businesses, a merchant cash advance may be a good way to find funding for expansions, renovations and compliance regulations.

Most dry cleaners businesses are small business, and often operate as family-owned businesses. Small business owners don’t always have access to dry cleaner business financing, which banks see as a high risk. From the consumer’s perspective, dry cleaning is necessary, but also expensive, and consumers have responded by buying fewer garments that require dry cleaning.

A merchant cash advance enables dry cleaner businesses to sell a portion of their future credit card transactions for cash up front. Rapid Capital Funding will purchase your transactions, and you get the cash you need to expand, improve or upgrade your business equipment.

Contact Rapid Capital Funding today to see how a merchant cash advance can provide the dry cleaners business financing you need to keep your doors open.

Photo Credit: Keith Ivey

Bookmark it