12 Ways to Finance a New Restaurant
12.
) Merchant Cash Advance: The idea seems simple - get cash up front and pay em back over
time through your credit card terminal, but the effective fees can be extremely high.
In fact, to
avoid state usury laws,...
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12 Ways to Finance a New Restaurant
12.
) Merchant Cash Advance: The idea seems simple - get cash up front and pay em back over
time through your credit card terminal, but the effective fees can be extremely high.
In fact, to
avoid state usury laws, Merchant Cash Advance companies like Rapid Advance, Advance Me,
and Merchant Capital Source work really hard to make sure they never call what they are doing a
"loan" but rather "cash-receivable financing".
In any case, you ll be paying anywhere from 22%
to 40% of your credit-card revenue until you ve them back plus their fees.
11.
) Credit Cards: It can be tempting to apply for multiple just to get fast cash.
Avoid this trap!
Set realistic goals for yourself for how many credit cards and how fast you can pay them off, and
stick to it.
And don t be fooled by all those frequent flier miles.
One rule of thumb for how to
value these is a penny per mile.
Thus an offer of 10,000 miles is actually worth only a $100 hardly worth a ruined c
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