If your business needs working capital for renovations, expansion, marketing or cash flow and you want avoid the bank loan hassles, unsecured business financing is your solution.
MCA Amount: $180,000
Highlights: Merchant Cash and Capital advanced $180,000 to a landmark Ramada Inn located in South Dakota. The hotel has been in operation since 2003, with current ownership of 2 years. This franchisee processes $180,000 in average monthly credit card sales and grosses $200,000 in average monthly sales. The business faces seasonality in the winter due to the weather in South Dakota, however, processing picks back up in early spring which will bring the payback pace up to speed. The merchant plans on using the funds for renovations and remodeling. The deal was relatively clean, and received a quick approval from the MCC Credit Committee.
MCA Amount: $40,000
Highlights: MCC provided hospitality funding in the amount of $40,000 to a lodge in California. The hospitality business has been around since 2005, and has been with MCC since February 2011. The merchant and lodge plan to use MCC’s working capital to spruce up and renovate its facilities. They are looking to redo some rooms and to upgrade their pool to attract more guests. The hospitality industry, particularly hotels and motels have always been a target market for MCC and MCC regularly provides six figure merchant cash advances to these merchants.