Clothing Stores

Clothing the Masses

You own a trendy clothing store where people can find the latest styles. Or maybe you cater to a niche group that loyally patronize your store. Whatever the type of clothing store you own you love your business; getting to help customers find the perfect fit or the right style, seeing the latest in fashion appear on your shelves, the sense of satisfaction as a customer leaves your store ecstatic about their new clothes. But lately you've probably seen a decline in foot traffic and profits. This economy has hurt stores like yours in a number of ways, but there are ways to overcome them.

Adapting to Economic Trends

Economists recommend that small businesses adapt to the changes of this new economy so they can continue to be successful and stay profitable. You have no doubt thought about what changes you should make to you store, like a new layout, some remodeling, bringing in a shipment of the the latest fashion, having a clearance sale, and advertising in the local community. These are going to take some additional financing to bring about, but with the lower customer volume you're nervous about spending any cash. Also, yours might be one of the many stores across the nation that has to pay cash to vendors for new deliveries. Fears of bankruptcies, failing businesses, and merchants delaying payments have caused this change. It's the way distributors are adapting to the new economy. So it is crucial to your business that you have a way to obtain working capital. You've certainly noticed it isn't as easy these days to get additional funding as it once was. You may be thinking about attempting to get a small business loan, but you are hesitant about the pitfalls associated with today's loans. This is why a service called Merchant Cash Advance is perfect for your clothing store.

A Better Fit Than a Loan

With a Merchant Cash Advance nearly every disadvantage of a loan is overcome. Banks' lending restrictions for small business loans have constricted, making it feel impossible to qualify for one. Loan officers require collateral often in the form of personal assets. You don't have to worry about that with an advance. You may need to have a personal credit score of at least 700 to even be considered for a loan, but a low credit score isn't a disqualifier for a cash advance. If you are approved for a loan you may have to wait for months to see the cash. This isn't good for your store because you need financing now to buy new inventory and make changes. You can have your Merchant Cash Advance, though, in as little as a few days. A loan will haunt you for years as you pay the set minimum balance each month and you have to pay before a certain day to avoid late fees. And there is a maturity date, the date when a loan has to be paid off in full. With a Merchant Cash Advance a small percentage of credit and debit card transactions is collected automatically. Because the amount collected is a percentage of electronic transactions, what you pay is directly linked to how well your store is doing. When sales are up, you pay off the advance faster. When things are slow, you pay smaller amounts. There is no maturity date, no late fees, no checks to mail, and no minimum balance. And many merchants pay off their advance in less than a year. A Merchant Cash Advance really is ideal for your clothing store.

Contact Fastpoint Financial Today

So go ahead and contact Fastpoint Financial now to get your application for a Merchant Cash Advance started today. With Fastpoint's simplified application process and professional customer service representatives you can feel assured knowing your advance is only days away from helping improve your clothing store. Don't wait any longer; customers are waiting to shop at your store.