NYC Seasonal Businesses Get Ahead at the End of the Year
For NYC seasonal businesses, we are about to enter one of the busiest seasons. Local shoppers, tourists, executives, and more flock to NYC in the last quarter of the year to make purchases ranging from the modest to the extravagant. In order to maximize sales and revenue, NYC seasonal businesses need the right funding to get prepared.
Rush and Revenue for NYC Seasonal Businesses
Whether it is a cherished locally-made memento or a luxurious night on the town, NYC businesses count on every sale. That means NYC seasonal businesses need to be fully stocked up on inventory and market ahead of the seasonal rush to maximize foot traffic and sales. One of the biggest obstacles facing seasonal businesses is getting adequate financing to see them into the next year. Traditional loans can take a long time to process, and often the amount of capital provided is less than what’s needed. Additionally, seasonal businesses want to avoid debt because it will eat into revenue after sales have dropped off. Seasonal businesses need capital here and now without the restrictions of traditional loans.
MCAs for NYC Seasonal Businesses
MCAs, or merchant cash advances, provide NYC seasonal businesses with working capital ahead or during the last quarter, which entrepreneurs can use for everything from purchasing inventory, hiring additional staff, marketing, equipment, or anything else the operation needs. MCAs also offer more flexibility than traditional loans. Instead of making regular payments, MCAs are repaid through a small percentage of credit card sales. This helps seasonal businesses to maintain a healthy cash flow without worrying about monthly installments. Merchant cash advances also do not place any debt on the balance sheet. Business owners can preserve their credit scores, maximize sales, and avoid the constraints of traditional loans. Also, there are no prepayment penalties. If your business is generating enough revenue so that you can pay off the balance ahead of time, you can, without triggering any prohibitive penalties and fees.
Get a Jumpstart on those Year-End Sales
At First Crescent Capital, we understand the challenges facing small businesses in NYC. Our goal is to help local businesses to create a diverse and lucrative marketplace in NYC. If you need financing, our team will work with you to create a solution tailored to your needs, so you can reach your goals. Contact First Crescent Capital today to get started.