Most entrepreneurs will, at one point or another, find themselves in need of fast money in order to keep their business alive and booming. This is just part of being a business owner, really. Even the most well planned out businesses will have incidental costs that need to be taken care of. The problem with this is that most typical routes of funding aren’t fast. In fact, a typical business loan can take as long as six months to enact.
- Use your personal credit card. This is a very, very bad idea for a number of reasons. If you can’t pay it off, you could end up with interest rates that could bankrupt you. Moreover, you can’t use credit cards for all purchases. Did we mention it also wrecks your credit score?
- Hit up friends and family for money. Yes, this could work assuming that your friends and family have the spare cash around, but think about this for a second. Do you really think it’s wise to bring money into relationships? It’s often a surefire way to alienate good friends and put them on a spotlight they don’t want to be in. It’s best not to do this, unless you want to lose people.
- Try to crowdfund and go viral. The only way you can actually crowdfund this money in a flash if you go viral – and trust us, it’s exceptionally unlikely that this will happen. If you need money, this isn’t the way to do it.
- Go out of pocket. Yes, this could work, but if you need business funding, then you probably don’t have that extra cash to spend. Besides, this could end up making you financially unstable for a period of time. Why should you put down more of your money for necessities?
- Get a merchant cash advance. This is actually the best option of them all, because it combines the perks of a loan without the long waiting time, need for collateral, and credit check. The end result is a loan-like service that gives you money in a matter of days, doesn’t check credit, and also doesn’t make you look like a fool in front of others.
The bottom line is that CPS business financing give you the money you need, in a fast time frame, without the pitfalls of other fast business funding methods. If you want to enjoy the benefits of a cash advance, call CPS today. We’re here to help you succeed.