Every business needs to raise finance at some point in its existence, whether that is to hire staff, move location, boost inventory or upgrade equipment. Sadly, when the time comes to access cash, many banks are quick to close their doors. It could be the length of time you’ve been in business that is the trouble – no credit history translates as high risk to a bank – or you might simply not yet have the level of turnover required. Banks are also wary of businesses involved in certain industries, for example liquor stores, escort services or marijuana supply.
Alternative Financing Options
The good news is that there is a booming market in alternative financing out there, with merchant cash advance companies among the most popular port of call for rejected CEOs. Regardless of your credit history or current business performance, there will almost certainly be a merchant cash advance resource suited to your needs. If you have been operating for at least three months, are turning over at least $6,000 a month and have no open bankruptcies then unsecured finance from Speed Fund is likely to be open to you.
Make Speed Fund your Chosen Merchant Cash Advance Resource
Speed Fund has a number of advantages over similar merchant cash advance companies. One key difference is that Speed Fund does not collect repayments via the ‘holdback’ method (taking them directly from your credit card processor). This means that we can expand to offer finance to businesses that don’t have a credit card machine.
As with other merchant cash advance companies, Speed Fund can still recoup payments as a percentage of sales but can also offer a flat rate repayment option. It all depends on your particular business, so the best way to find out where you stand is to fill in the ‘Getting to know you’ form on the Speed Fund home page or, if money is urgently required, simply apply straight away.
Finally, at Speed Fund, we do not see ourselves as a faceless merchant cash advance resource. We prefer to build a long-term relationship with our customers and will always treat them with respect. In the cut-throat world of business finance, Speed Fund is a breath of fresh air for the cash-strapped business owner offering fast, hassle-free funding while providing top-class customer service.