Due to COVID-19, countless businesses are fighting to maintain profits and keep their doors open. Despite the billions of dollars in support that the government has issued to support businesses, more than 100,000 small businesses have closed during the economic downturn caused by the COVID-19 pandemic. To help businesses through this tough time, we are proud to offer merchant cash advances. Keep reading to learn how we can help you and your employees!
The Downfalls of Traditional Funding
Applying for a bank loan can sometimes be time-consuming and frustrating for many business owners. The worst part is that after you put in an enormous amount of effort into the application, the chances of getting approved are relatively low unless you have perfect credit. Even if you’re lucky enough to be approved for a loan, it can take months to receive the funds. During a pandemic, waiting months for a cash infusion into your business could mean the difference between survival and shutting down.
As for governmental support, a majority of the loans and grants available are part of the Paycheck Protection Program (PPP). As their name suggests, these funds are primarily meant to cover payroll expenses. While they can be used to cover other business expenses, they are highly regulated and there are many stipulations for participating. Additionally, the amount you’ll receive from a PPP loan will likely only cover a few months of payroll expenses.
The Beauty of a Merchant Cash Advance
As opposed to regular bank loans and PPP funds, our merchant cash advance program offers speedy funding, high approval rates, and no business-use restrictions. Even if your credit is less than perfect, Celero can provide your business with a cash advance. The way this program works is simple: we provide you with working capital against future credit card sales from your customers. When they make purchases, repayment of the funds will be collected automatically. It’s simple, easy, and straightforward!
Most importantly, we provide quick funding which is vital during this pandemic. Many banks take weeks or even months to provide funds but you can get a cash advance within a few days. If you’re struggling to pay the bills and keep your business running, there isn’t time to waste. With these funds, you can pay for rent, payroll, taxes, business expansion plans, marketing campaigns, or any other expenses that might come up. We designed this program to be flexible because you’re the person that best knows what your business needs right now.
Get Started Today
If you’re interested in taking advantage of our cash advance program, please reach out to us. There are so many businesses struggling to maintain profits right now and the only way we can make it through this hard time is by working together.