Running a liquor store in the United States can be highly rewarding and profitable. However, getting funds from a bank for working capital or growth needs is pretty challenging. To simplify the funding process and help small businesses such as liquor stores obtain working capital or growth funds quickly, Cresthill Capital provides an alternate solution – merchant cash advance.
Roadblocks to Banks
Most local liquor stores are private businesses run by small business owners who depend on a steady stream of cash inflow to maintain or grow their business. Obtaining funds from a bank is challenging because banks and other traditional money lenders see them as high-risk businesses, especially if the business owner has a poor credit score.
Moreover, banks usually require some form of collateral. The process of applying, qualifying and obtaining the requested amount can take weeks, if not months.
Benefits of Merchant Cash Advance
Cresthill Capital provides small business owners with access to a merchant cash advance. Merchant cash advances do not come with loads of paperwork to fill out or worries about credit scores. Funding companies evaluate merit by taking into consideration your actual business performance.
If you’ve been in the business for a considerable number of months and you’re witnessing steady sales and revenues, you have every chance of getting approval for funding. Once you secure funding, the advance amount is deposited in your business bank account. You repay a small portion of future receivables till the time the entire amount is repaid. There is no need for putting up any collateral.
Why is it A Good Option for Liquor Stores?
A merchant cash advance is the ideal funding solution for liquor stores because most of the sales are done through cash or credit card. The owner should have little trouble keeping up with repayment. Cresthill Capital advisors offer flexible terms that banks and traditional money lenders simply cannot match.
The company does not charge any fee to apply, so you don’t lose anything by trying this option. The process of getting approval is fast and you can get the extra funds in a matter of days. You can continue the partnership for as long as you wish and can request any amount of funding, provided you furnish proof that future sales can cover repayments.
Use Extra Capital as You Wish
Another benefit of merchant cash advance is that it comes with no strings attached. You can use the funding for any business-related activity. Perhaps you need to cover some urgent expenses or hire more employees. Liquor stores need steady capital flow because fresh products need to be added and inventory needs to be replenished to remain competitive in the market.
You may want to invest in a sophisticated security system because liquor stores are high-risk targets of robberies and other crimes. You may also want to use the funds for a marketing campaign to elevate your presence in the community.
Ready to give merchant cash advance a try? Let Cresthill Capital review your application and connect you with an appropriate funding source!
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