financing ATV race machines and equipmentfinancing ATV race machines and equipment


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financing ATV race machines and equipment

My son has always loved riding dirt bikes and ATVs, so when he asked if he could start racing, I was as excited as he was. Unfortunately, the machines that he owned were not really suitable for racing, so we had to purchase a new machine and get it fixed up and ready to race. That all was going to take quite a bit of money, so instead of bursting his bubble and telling him we couldn't afford it at the time, I started looking for affordable financing options. This blog was created to help others find financing options for just such an instance.

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The Benefits Of Small Business Merchant Cash Advances When Compared To Traditional Loans

Whether you are looking to expand your small business, purchase some new inventory, or simply need some help covering operational costs, there will be a few different financing options available for you to choose from. One of these options is the use of small business merchant cash advances. Oftentimes small business owners will find that this financing option is far more beneficial than a traditional business loan. Continue reading to learn more about some of the benefits these cash advances have to offer so that you can decide if they are the right financing option for your needs as well.

Benefit #1: Easier To Qualify For Than Traditional Business Loans

Traditional business loans will often require you to have good business credit and/or substantial collateral in order to qualify for the funding you need. This can be a serious issue for many small business owners. Small business merchant cash advances make it easier for business owners to qualify for the financing they need since an MCA does not require a good credit score in order to qualify. In fact, most cash advances can be obtained without even running a credit check. This is because merchant cash advances allow you to borrow against future credit card sales rather than relying on your credit history to determine your creditworthiness. 

Benefit #2: A Small Business MCA Offers A Flat Fee Rather Than Interest Charges

Traditional business loans require you to pay back the principle of the loan along with interest charges that are accumulated over time. This type of repayment structure can make it difficult to see just how much your loan is going to cost you in the long run. This is not the case with a merchant cash advance. This is because rather than assessing interest charges, an MCA will come with a single flat fee that must be paid in addition to the borrowed amount. This makes it much easier for you to see the cost of borrowing before you finalize your loan. 

Benefit #3: Merchant Cash Advances Only Need To Be Repaid When You Actually Have Sales

Traditionally, you would need to repay a business loan by making a set payment each month until the loan is paid in full. This can be difficult if your business sales fluctuate significantly from one month to the next. Small business merchant cash advances make repaying your loan much easier. This is because rather than having a set loan payment each month, you will repay your cash advance using a percentage of any credit card sales that you have. This means that you are only required to make payments on your loan when you have the sales to fund this repayment. 

Contact a company like UrLendr to learn more.