Expand Your Small Business Using A Merchant Cash Advance!

By opening new branch locations for your business, you can expand your business's reach into the marketplace and potentially boost profits. After all, with a new branch location, you will be able to reach more consumers and sell more products or services within the same time period. However, funding your expansion project is a primary objective, and you may be wondering what options are available to you. A close analysis may help you to determine the best financing solution for your needs.

Determining Your Financial Need
Before you apply for a business loan, a merchant cash advance or another financing solution, you must determine your financial need. Explore all aspects associated with opening a branch location, such as the real estate costs, the buildout expenses, the labor fees and more. You should also estimate the operating costs and potential profit that you can enjoy by opening one or more branch locations. You need to ensure that expanding your business makes financial sense before you seek financing. In addition, this step can help you to determine if the financing you are preparing to set up is affordable for your business. 

Taking Out a Business Loan
One option to consider when you need financing for an expansion is to take out a business loan. You can apply for a business loan through a wide range of banks or credit unions, but you may find this process to be lengthy and daunting. The bank will need to review a copious amount of documentation, and the process may take weeks or even months to complete. In addition, the loan terms may not be attractive to you, and your personal credit history and finances may be reviewed. With this in mind, you may be looking for a solid business loan alternative. 

Exploring a Great Business Loan Alternative
A merchant cash advance is an excellent financing alternative to consider. Through this type of loan, you will benefit from a faster and easier underwriting process as well as access to potentially hundreds of thousands of dollars in funds. The loan will be issued based on projected cash flow from the business rather than on your credit rating. This means that new cash flow from the expanded branch locations may be taken into account. This could help you to qualify for a significantly higher loan amount, and the repayment terms may be more manageable for you. 

Growing your business is not a matter to take lightly. You could continue on with the status quo, or you could make the bold and profitable decision to expand your business by opening new locations. A review of the numbers will tell you more about how beneficial this option may be to you. When you are ready to move forward with your project, you can easily use a merchant cash advance to obtain the capital needed for your upcoming project. This may be a challenging decision to make, but ultimately, it may be one of the more lucrative steps you can take.