As I prepare for the upcoming season, I am outfitting a new Hot Dog Truck. I have to get registered, insured, permitted and a whole host of things done to the new Hot Dog Truck. I am getting the Hot Dog Truck lettered (with the dancing hot dog from my header) and completely tuned up. You'd think I'd need some Fast Business Cash to get this done, but between money I've saved and money I am getting from selling the old Hot Dog Truck and another vehicle I own AND the money I make from this website (and others), I have very little "out of pocket" expense.
For lots of businesses, getting Fast Business Cash for expansion or a new piece of equipment can be a challenge. Businesses that accept credit cards have a great financing option. Now you can get a business loan form companies like Merit Capital Advance based on anticipated future Visa/MC receipts. The lender just automatically takes the loan payments from your credit card receipts. It's real easy to set up, and it's a great way to enhance cash flow for a large business expense.
If I ever take credit cards, I'd be signing up for this! I may have to take cards soon if I plan on doing large events, so I could finance my next Hot Dog Truck with some Fast Business Cash with Merit Capital Advance.
Fast Business Cash
Cash Advance on Credit
As I wind down the season at the Hot Dog Truck, I am thinking of the future. I would like to expand my business-either by getting another Hot Dog Truck that is a better "runner" so I can do events or by getting an actual physical location. There are a lot of ways to expand a business and lots of options available to me.
The first (and my favorite) is to expand with cash on hand. No borrowing means no bills to pay. Unfortunately, I might not have enough cash to expand. That means borrowing. If I come across a good opportunity, I may need fast business cash.
One way to get fast business cash for expansion is to borrow against my future Visa® and MasterCard© sales. I can get cash NOW and repay when my customers pay for their hot dogs with Visa® or MasterCard©. Of course I'll need to accept credit cards first, but I have a cousin in that business and she could get me hooked up quickly.
Whatever direction I go regarding expanding the Hot Dog truck business, I am sure I'll need some fast business cash at some point.
Be Careful with a Cash Advance
Online cash advance companies are proliferating. These lenders provide short term loans, sometimes called payday loans, of up to $500 that are repaid within a week or two and are secured by your next paycheck.
The lenders tout the loans as a short term cash flow solution, not a long term debt reduction or consolidation strategy. This is the truth! Some loans require a $20 finance charge per $100 borrowed. That's over 500% annual interest!
I could see certain circumstances where a cash advance loan might be necessary. An unexpected car repair might fall into that category, or perhaps an unexpected (and uncovered by insurance) medical expense.
While it may seem enticing to have a few hundred dollar cash advance wired into your bank account in an emergency, you should be VERY CAREFUL how you use these loans. Such a loan should only be used in an absolute emergency as such prohibitively high rates make them a losing proposition in most cases.
