Business Cash Advance in Cincinnati and Columbus – Point of Sale System Integrations?

Point Four Touch Point of Sale Till

Point Four Touch Point of Sale Till (Photo credit: Cyberslayer)

Express Funding Group here again with frequently asked question number 13. This is a great question and this is a two part question. I’m a restaurant owner with a fully integrated POS system. Question number one is, would I be able to take a business cash advance out? And two, if I was, how does my POS system get reprogrammed to process on the new processing platform? Well, the answer to the question is YES you would be able to take the business cash advance out. And number two, our technical support would coordinate with your POS vendor to reprogram that fully integrated POS system to work on our platforms. The coordination and the technical support time takes anywhere from 30 to 60 minutes to fully reprogram and you’ll be up running on our platforms and get the financing that you need for your business. I hope this has been helpful. I will see you on frequently asked question number 14 coming up shortly.

 

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Small Business Loans Chicago, Charlotte, Kansas City – Tip 12,


Small business loans for Chicago and Kansas City frequently asked questions.  If I were to take a business cash advance out and switch my credit card processing companies, would I have to buy new credit card processing equipment? The answer to that question is not necessarily. Typically we are able to reprogram any type of credit card machine out there in the market place today. In a rare case that a machine is non compliant or out dated. Then yes you would need to upgrade to a newer model. But typically, yes we are able to reprogram your existing equipment to process transaction on our processing platform. About 95% of the machines out there are compliant and are updated so I don’t necessarily see this is being such a big issue for any body who’s looking to take a business cash advance out. It’s not something to be really worried about. Typically what we would do is reprogram that machine. We do it over the phone, takes anywhere from 20 to 30 minutes to reprogram a machine and get you out from processing on our processing platform. Hope this had been helpful. I will see you on small business loans, frequently asked question number 13 coming up shortly.

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Small Business Loans in Cincinnati and Columbus – Can You Have Multiple Cash Advances?

Small Business loans frequently asked questions video series.   Can I have two business cash advances out on one location at the same time? The answer to that question is NO. You can only have one business cash advance at a time. Now if you currently have a business cash advance out with an advance company and you are over 60% paid back, we can originate a new cash advance and pay off your existing cash advance leaving the (proceeds) to be deposited into your bank account. But the answer to the question is NO, you cannot two advances out at once. I hope this had been helpful. I will see you on frequently asked question number 15 coming up shortly.

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Small Business Loans Boston and Qualifications?

Loan

Small business loans frequently asked questions.

Business Cash Advance vs. Business Loans and Qualifications?

How do I qualify for a business cash advance vs. a small business loans? Well there are some basic qualifications in order to obtain this type of finance, such as that you’ve been in business for a minimum of one year, you can provide the last three months credit card processing statements and then you are processing a minimum of thirty-five hundred dollars per month in credit card. Those are some of the basic qualifications needed in order to obtain this type of financing. I hope this have been helpful. I will see you in frequently asked question number three coming up shortly.

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Small Business Loans and Business Options for Military Veterans?

Finding small business loans for military veterans and your funding options.

We are a partnership of experienced entrepreneurs in the franchise business; these individuals will give veterans the opportunity to live the “American Dream” of owning and managing their own business.

By offering a variety of proven franchise opportunities from many different industry sectors, our group will enable the veterans to own a product that is tailored to their specific needs, desires and abilities.

Our intent is to utilize the public sector to identify and assist with all the programs that are available to the veteran candidate; such as grants and special Small Business Administration (SBA) programs. Additionally we have the commitment of leading U.S. banks that will allow us to make available ownership options that are not available to any other potential franchisee.

This program is designed to assist the veteran at every stage of the process from the initial inquiry to the implementation of the business. Our group will work hand in hand with the individual veteran candidate, the Veterans administration and the SBA. We hope that all parties will share in our goal of putting thousands, if not tens of thousands of veterans into businesses and employing many thousands more who are currently in need of jobs throughout the United States.

Based on our research, all of the critical parts to this program already exist, I.E. SBA, Department of Veterans Affairs, franchisors and banks. Therefore, all that is needed is for our organization to facilitate the program and provide the expertise and momentum to deliver the goal, mission and vision that we have outlined. We are looking forward to working with all involved organizations.

10 Reasons for a vet to Own a Franchise Business

You will have support, a safety net, expertise, training, experienced oversight, marketing, advice, mentors and peace of mind. All of this backing allows you to proceed in confidence and it opens doors for financial support. These are the reasons why franchising works.

1. You are owning a proven formula.

When you buy into a proven franchise concept, you avoid many of the major hurdles new startups face because the franchisor has already worked out the kinks and laid a solid foundation. A good franchisor will have everything systemized and ready for you a business paint-by-numbers, if you will from marketing and branding to site selection and approved vendors. Think about what it would take (and how long) to start your own business that earns an immediate income stream.

2. We can offer assistance attaining financing.

Due to tightening lending practices, this eliminates unnecessary time seeking approval from third-party lenders on things like franchise agreements and business pro forma; rather, the focus is on you and what you bring to the table as a franchisee. Our unique partnership with Wells Fargo to provide SBA backed loans is beyond powerful and assures the veteran candidate of the best chance to obtain business ownership.

3. A franchise provides a built-in support system.

If you need help negotiating the terms of a lease, if your POS system is acting up again, or if you want to offer a special promotion and need advertising and design assistance, the franchisor is there to help. Equally important is the relationship between franchisees and the support they offer each other. Franchisors understand that there are exponential improvements that take place when franchisees are well-connected and sharing best practices.

4. A franchise is more attractive to the SBA.

With competitive rates are longer terms, SBA loans are a smart way to fund your franchise unit, — not to mention there are no points, no balloon payments and no pre-payment penalties. According to SCORE, a nonprofit resource partner of the SBA, franchise loan applications are looked upon more favorably by the SBA than loan applications for independent startups because franchise are turnkey operations. Simply, they are a safer bet. The SBA also has a resource called Franchise Registry. It is a preapproved list of franchises that the SBA has already reviewed, which allows for a more streamlined loan process for potential franchisees.

5. You can be your own boss.

You call the shots, you manage the schedule, and you run the show just understand there’s a pecking order. It may not be a 100% original entrepreneurial endeavor, but it’s the next best thing. A franchisee owns an individual unit but has also agreed to follow a formula put in place by the franchisor. When you choose to follow the business formula and use the support systems in place, your chances of success increase.

6. Some low-cost franchises have strong ROI

Lower start up and build out costs equate to higher margins and enhanced value. The break-even point is significantly reduced meaning that the time spent to get from grand opening to loan payoff is shorter. You are positioned to own your second operation more quickly and you can obtain “economy in numbers”.

7. In a down economy, the buy-in prices are lower.

During a recession, cash is limited even among the best businesses. Franchisors are eager to build capital to grow or simply to stay competitive. Suppliers, franchisors and most importantly real estate cost are low when the market begins to return to pre-recession these startup costs will raise, knowing that when the market turns they will flourish. Startup costs are attractive right now.

8. Name recognition is what consumers look for, especially in a recession.

Consumers like to frequent those businesses with which they are most familiar and comfortable. Having instant access to a recognized brand provides a built-in security blanket, and during a recession consumers are most inclined to go with what they know. It’s all about name recognition, consistency and value. Now more than every consumers want the safety and comfort of a familiar brand.

9. Veterans aren’t ready to retire; they can be their own bosses and build toward a solid legacy retirement.

It’s time to put your skills and desire to work for your own future. More than any other way, owing your own business puts you in a place that fulfills the dream for you your family and theirs.

10. The chance of success is much higher.

A franchise is more likely to succeed than an independent startup, and the security of investing in a proven concept is worth its weight in gold. With a franchise, the chances of success are dramatically increased because you have the support of the system. “The franchisor has already taken most of the risk. “That’s what you’re really paying for.”

 

Thank you

Brian Concannon

Phone 516-730-2424

Fax 800-520-8122

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Small Business Loans New York City and Boston, Part Three

Small Business Loans vs. Business Cash Advance New York City and Boston.

Small business loans New York City and Boston vs. a merchant business cash advance: Part Three

Regarding small business loans frequently asked questions, Express Funding Group here again with frequently asked question number three. How do merchants payback their business cash advance financing vs. small business loans? Well it’s a good question. A merchant would payback their business cash advance financing through their daily credit card processing receipts. So for an example if a merchant is processing one hundred dollars a day in credit cards, the financing company would deduct roughly twenty percent of that hundred dollars which would be twenty dollars every single day until the cash advance has been paid back in full. Now these daily retrievable rates can range anywhere between five and twenty-five percent depending on how the business cash advance was structured for any given merchant vs. the conventional business loans by banks. I hope this has been helpful. I will see you on frequently asked question number four coming up shortly.

 

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Business Cash Advance in Boston, New York City and Kansas City – Easy Approval?

Business Cash Advance in Boston, New York City and Kansas City – Easy Approval?

Business cash advance approval, how easy is it?  Well I can tell you this; it’s much easier to get approved for a business cash advance than it would be any single bank in the United States of America today. Now, business cash advances look at things other than balance sheets and profited loss and casual statements. We look primarily at the longevity of the business, credit card processing receipts and the credit worthiness of the business owner. That is the meat and potatoes of what the underwriting criteria is in order to obtain a business cash advance for your business. I hope this had been helpful. I will see you on frequently asked question number nine coming up shortly.

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Merchant Cash Advance in New York City, Boston and Boulder. #7


Express Funding Group here again with frequently asked question number seven. How fast do merchants get funded when taking out a business cash advance? Well it’s a good question, this does vary. Anywhere from seven to ten business days is the norm. From the time a merchant submits his or her application to our underwriting department. This can go longer obviously; additional documentation is needed in order to approve the merchant for a business cash advance. But typically you’re looking anywhere from seven to ten business days to have the monies deposited into your specified bank account. I hope this has been helpful. I will see you on frequently asked question number eight coming up shortly.

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Small Business Loans New York City, Boulder and Boston – Costs of Business Cash Advance? Tip 6.

Loan

Loan (Photo credit: Philip Taylor PT)

Merchantloans.com here again with small business loans video number six and this is two part questions. What are the costs for a business cash advance and are there any closing costs or application fees associated with obtaining a merchant business cash advance. Well let me answer the latter first, there should be no closing costs or application fees associated with obtaining a merchant business cash advance. Now, since a small business cash advance is not a small business merchant loan product there are no interest rate associated with it, it is receivable financing vs. being a small business loans. What I mean by receivable financing is, where going to give you money today for future moneys down the road. Now is this money cheap? No, it is not. Is it comparable to bank loans or small business loans? No, it tends to be much higher cause. But is flexible, it is an alternative financing product for small to mid size businesses. I hope this has answered your questions. I look forward to seeing you to Frequently Asked Questions number seven coming up shortly.

 

 

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Small Business Loans Vs. Leveraging with Merchant Business Cash Advance, part 8.

Express Funding Group here again going over the advantages of business cash advance versus small business loans. Now in this video, I’m going to expand a little bit on video number seven and it’s based around leveraging. Now the reason a lot of small business owners take out of business cash advance is they like to do is leverage their credit card sales receipts from location A to finance a new location at location B. So say for example you own a restaurant in the east side of town, and it’s a thriving business and you’re doing a ton of credit card processing, you got a hundred thousand dollar a month in credit card processing and you need a hundred thousand dollars to open up a location, the same exact business on the west side of town. Well, a small business owner, will leverage the credit card receipts from the east side town restaurant to get the money to open the restaurant on the west side. Now if a small business owner were to go to a bank to originate his small business loan to do what I have just explained, it would be very, very, very difficult to get that done. I mean you’re talking about excellent credit, you’re talking the business must be in business a long time, great financials, where business cash advance company would know …hey this small business owner is successful, he or she is a good entrepreneur, built a good business and a good neighborhood. Hey let’s give him the financing to open up that second location and that’s where a lot of small business owners are utilizing business cash advances for a great reason and typically works out very, very well for not only the small business owner but also for the business cash advance lender. I hope this have been helpful, I will see you in video number nine coming up shortly.

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