Let’s face it: if you own a small business and you’re trying to scale up to the next level, then trying to figure out how to secure the long term funding you need to grow can seem like an almost insurmountable challenge.
The traditional funding routes — bank loans or lines of credit, for example — often come with a number of drawbacks that can cause problems for your business in both the near and long term.
And while some companies offering particular kinds of consumer products might decide to turn to a crowdfunding campaign to help generate the expansion capital, this approach doesn’t work for everyone and can be very labour-intensive.
So what should small business owners do when they feel that explosive growth would be possible if they just had the money to make the leap?
Increasingly, they are turning to companies that provide merchant capital advances for solutions.
How Merchant Capital Advances Support Long Term Growth
If you’ve been in business for a few years, chances are you’ve already built a solid customer base and are starting to saturate the market in your particular area. If you want to grow, you’re going to need to expand.
At the same time, you may not be bringing in quite enough revenue to easily cover the costs of that expansion out of your own pocket.
You’ve crunched the numbers and know that expansion could double or even triple your annual revenue, but it will take you a couple of years to raise the money you need on your own — time that could have been spent scaling up if you had the extra capital on hand.
One of the ways that SharpShooter Funding can help your business grow in the long term is by providing you with the capital you need to expand your business now in the form of a merchant capital advance.
Unlike a conventional bank loan, a merchant capital advance allows you to purchase a funding package for a flat rate, making regular payments on a schedule that is manageable for you. In practical terms, this unlocks the long term business funding you need in the short term without saddling you with escalating long-term debt that can quickly get out of control.
Merchant capital advances are quickly becoming a popular alternative to bank loans in Canada and the United States, and at SharpShooter Funding we are proud to say that we have been at the forefront of this movement to empower smaller businesses to achieve their full potential by backing them with the business funding they need.
In our years of working with Canadian small businesses, we have seen many of our partners go on to achieve great success in their sectors thanks in no small part to the funding we were able to provide them.
Securing a Merchant Capital Advance is Easier than You Think
While the benefits of this kind of funding should be obvious by now, is this actually a feasible source of income for small businesses? Does the application process involve difficult paperwork and a stringent interview process?
For a lot of small Canadian businesses, the single greatest advantage of the merchant capital advance is how flexible it is. In Canada, business funding at all levels has been dominated by the big six commercial banks. And just like any other industry where competition is stifled by a handful of massive companies, this has meant that banks are used to being able to set the terms.
One of the reasons why SharpShooter Funding is passionate about merchant capital advances for small businesses is because we believe that every company, no matter how small, has the right to access the funding they need to grow without having to deal with huge amounts of red tape.
This is why we are committed to providing Canadian businesses with an alternative to big bank loans through our more flexible and client-centered capital advances. While the banks only work for a set number of hours a day and are only open on certain days of the week, we work just as hard as small business owners do.
Whether you send in your application the first thing on Monday morning or late on a Saturday night, our team will start to process it immediately. In some cases, we can even approve the application and unlock your funding within twenty-four hours.
Not only does this mean you get an answer about your funding package sooner, it also makes merchant capital advances perfect for situations where unexpected costs demand an immediate response.
To apply for a merchant capital advance from SharpShooter Funding, all you need to do is send in an online application with the necessary details about your business, and we’ll get back to you as quickly as possible. And because seventy-five percent of our applicants are funded, the chances are good that the answer will be “yes”!
It’s long been a cruel truth of business that it takes money to make money. Expanding your company by moving into new product lines or markets can offer substantial rewards, but the upfront costs can be crippling.
If you want to grow and you’re looking for a funding partner who can help your business reach its full potential, get in touch with SharpShooter Funding today.
At Sharpshooter Funding, we know just how life-changing an infusion of new capital can be. That’s why we have tailored our merchant capital advances to help small Canadian businesses who are sick and tired of being turned away from the bank.
Fill out an application for funding today, and find out just how easy reaching your funding goals for 2019 can be!
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This post was written by sharpshooteradmin