Laundromat Merchant Cash Advance

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Residential refinance in Los Angeles, with a loan amount of $830k, at 75% LTV. We were able to help the investor get a loan at 8.99% with a balloon payment after 18 months.

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Residential Investment

Property in New York was torn down, and redeveloped. We provided a 60% LTV loan for $700k. We charged no upfront fees, and had a balloon payment after 10 months.

9.0 %
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Does your business need cash? Even highly successful entrepreneurs run into cash flow issues from time to time. When your business is short on cash, a merchant cash advance might be the best option. With this funding option, you get the cash you need when you need it.

What Is a Laundromat Merchant Cash Advance?

This type of funding is determined according to your credit card sales. The lender looks at your track record of sales to see if you qualify for an advance. If you are approved, you can have an advance in your merchant account within just 24 to 48 hours. This type of advance is not a loan. Instead, it is just a pre-payment for your future credit card sales.

What Is a Factor Rate?

The amount you repay is determined through something called a factor rate. This figure is generally between 1.1 to 1.5. If you get a merchant cash advance for $100,000 for 12 months with a factor rate of 1.5, then you will pay back $150,000. The factor rate is the best way to determine if this type of funding is the right option for you.

Laundromat merchant cash advances also use a retrieval rate or holdback. The holdback rate is the percentage of sales that you will pay back later on. If your holdback rate is 15 percent, then 15 percent of your credit card sales will automatically be used to repay the advance.

Flexible Funding When You Need It

When you get a traditional loan, the bank sets a fixed amount that you have to repay each month with interest. If your sales drop, you still have to pay the same amount. When you get a merchant cash advance, you only repay a set percentage of your sales. This gives you additional flexibility during slow or busy months. If your sales suddenly fall, you will end up paying a smaller dollar amount because your payment is set from a percentage instead of a fixed amount.

A merchant cash advance is designed to give businesses cash when they need it. The entire application process is online. You can turn in your credit card transaction history, your financial documents and everything else through an online portal. Once you turn your documents in, you will find out if you are approved within just a couple of hours. Then, the cash arrives in your account within 24 to 48 hours. If you need cash right away to cover a sudden shortfall, a merchant cash advance is definitely an option.

What Are the Other Options?

If you are looking for aLaundromat merchant cash advance, then you may have already discovered why other options do not always work out. Some companies try to get a term loan from a bank to fund their business. Unlike a merchant cash advance, a term loan requires a fair to excellent credit score and a long business history. It may also require collateral that you do not want to risk.

Other businesses get a business credit card instead. While this is a useful option, your credit line is limited to a certain amount. In addition, credit cards and term loans take time. When you need cash quickly, these options will not work.

Who Does a Cash Advance Work Best for?

A merchant cash advance is ideal for companies that need cash quickly. It also works if you have a poor credit score or want a flexible repayment plan. With a merchant cash advance, you get the money you need on your schedule.

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5 based on 1 votes
Service Type
Laundromat Merchant Cash Advance
Delancey Street provides Laundromat Merchant Cash Advances.

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