Convenience Stores

Renaissance Business Man

You cater to everyone: the laborer searching for a quick, delicious meal; the soccer moms looking for convenient snacks; the executive picking up a forgotten item for dinner; school kids wanting to spend some cash on their favorite novelty food items. As a convenience store owner you provide an assortment of services to a wide range of customers shopping for different reasons. Our economy has unfortunately affected your business in just as wide an array of ways. Economists agree that the best hope for a small business to survive to to adapt to the changing economy and the way customers shop. While there are multiple ways to fund these changes, a Merchant Cash Advance is your best shot.

Adapting to Change

This recession has changed so many aspects to our economy and your business. Fewer people have jobs so there aren't as many customer's shopping for lunch. Those who do still hold jobs worry over their security or reduced wages so they are more careful with the money they do spend. With fewer people going to work or worrying about cash, there are fewer drivers needing to fill their tanks. The emerging bio-fuel industry is causing controversy as fuel and food prices climb and critics worry over the impact of such a shift in fuel. This drives up your costs on most of your products and could mean a shift in the way you handle and sell fuel. To adequately adapt to the changes you face and increase your customers' foot traffic and spending you will need to make changes to your store. A new layout, adding a popular restaurant or more hot-food choices, more parking, easier store access, etc. This will require working capital, something you may be short on right now. Many business owners consider using a small business loan, but you know there are too many pitfalls to this type of funding. This is why a Merchant Cash Advance is your ideal choice.

Traditional Loans, Not the Solution

Banks across the country have tightened their restrictions on small business loans. Loan officers not only look at your business when considering credit, but your personal credit as well. Many require you to personally have a credit score of 700 or above. You certainly will need to pledge collateral, but a bank probably won't accept any of the stock in your convenience store. Banks can restrict how the loan is spent, often times wanting a detailed written explanation of what the money will be used for. And, if the loan is approved, it can take up to several months for you to be able to use the financing. This is why a Merchant Cash Advance is such an advantage to you. It overcomes all of a loan's deficits.

The Better Option

A Merchant Cash Advance offers you a unique opportunity to finance your convenience store. The application process is simpler because the restrictions aren't as tight as a loan's. When your application is approved you can receive your cash in as little as a few days. You are free to use the cash however you need to so you can improve your store. And perhaps most beneficial to you is that a Merchant Cash Advance isn't paid back the same way as a loan. You don't have to pay the same minimum monthly balance. With an advance your repayment is directly linked with how well your business is doing. A small percentage of only debit and credit card transactions is automatically collected. No late fees, no checks to mail each month. No other form of payment is necessary and many business owners pay off their Merchant Cash Advance in less than a year! Because the repayment is based on a set percentage, the daily sales of your store determines how much is paid toward the advance. Once your advance is paid off, that's it.

Contact Fastpoint Financial Now

Let Fastpoint Financial be your path to financial success. Fastpoint Financial can handle your Merchant Cash Advance and with their simplified application process and friendly staff you will be glad you avoided a traditional small business loan. Start your application today and get ready to receive all the working capital you need to improve your convenience store.