Singing The Praises Of A Cash Advance
Merchant Cash Advance Singing The Praises Of A Cash Advance
Author: Valerie Mellema
Date posted: 12.17.22

Karaoke can bring to mind a room of fun where people sing, dance, and spend time with their friends. It also started as a simple dream for two friends who wanted to run a business together. The duo had always enjoyed the vibe and excitement of karaoke pubs and eventually decided it was the right business for them to start. While the pub started slowly, it gained popularity as more and more people came in to check it out. It was a place that the owners wanted to keep in great shape to serve the city and everyone who wanted to blow off some steam after work or classes.

Keeping Things Modern Matters

The karaoke joint had been singing the praises of a cash advance for the first year, even if growth was slow at the beginning. However, the owners knew that they wouldn’t keep a big crowd if they allowed quality to slip. It was important to implement activities and items that the customers wanted to ensure things kept growing.

 

One of the biggest things the duo wanted to do was upgrade the sound and machines used in the business. However, they knew it wasn’t something they could do all on their own at once. So, singing the praises of a cash advance, financing was going to be needed.

 

The Cost of Upgrades

The owners researched and chatted to determine exactly what changes should be made. They focused on machines, equipment, and any other needs to stay relevant. Adding private rooms with top-quality machines would likely cost quite a bit.

 

After determining their list of needs, they looked into options for getting all the items the owners wanted. In the end, it turned out that a $100,000 loan would probably be needed. This was to keep things moving at the karaoke bar.

Singing The Praises Of A Cash Advance

Sifting Through Options to the Merchant Cash Advance

 

The owners of the pub didn’t have a lot of experience with business financing. This made it a challenge to determine what would work best for them.

 

It seemed that a traditional business loan wasn’t going to work so the two needed to dig deeper. After considering three options that all sounded good for the upcoming project, the owners finally decided to move forward. They chose a merchant cash advance.

 

What Makes the Merchant Cash Advance Stand Out

Having a huge bill to pay at the end of the month was a bit scary but that isn’t a requirement with a merchant cash advance. With a merchant cash advance, the owners pay back the sum daily, weekly, or semi-monthly. The payments are highly flexible since they’re based on sales and revenue.

 

Beyond that, merchant cash advances have fewer requirements than traditional business loans. For instance, term lengths can vary between three and 24 months in length. On top of that, the funding occurs in one to two days so it works well when a business needs cash fast.

After Receiving the Merchant Cash Advance

The process to get a merchant cash advance is simple and quick. In a matter of 1 day, the owners had the cash available and could start making changes. After updating the karaoke pub, it gained even more popularity and has become one of the coolest spots in the city.

 

Now, the owners are looking toward the future with plans to expand the property. This wouldn’t have been in the cards if not for a merchant cash advance. The future is looking bright for anyone who wants to enjoy a night of entertainment with their friends.

Singing The Praises Of A Cash Advance
About The Author | Valerie Mellema

Valerie has over 16 years of experience as a professional writer of blogs, eBooks, articles and press releases, with a focus on finance and alternative lending. Valerie resides with her family in Texas and is passionate about her horses.

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