Finance Your Car Wash with Merchant Cash Advance

One of the best retail investment vehicles that almost always give a decent rate of return is a well-located car wash. Financing for either a lucrative self-service or conveyor type of car wash has traditionally been available from bank lenders. Even though a car wash is typically a fairly secure investment, however, it is extremely difficult in the present economy to get a bank loan for car wash financing unless you already own a few and have impeccable credit.

If you have done your research on the potential profitability of a Car Wash Financing may be something of a hurdle for a first-time investor. If you have adequate savings, or are willing to cash in on other assets, or if you have relatives and friends who are willing to pitch in and invest in your venture, you may be ahead of the game, but this can also deplete your assets. Moreover, if you cash in on a savings account such as an IRA or 401K, you may be facing stinging tax penalties as well.

Using a merchant cash advance system is an alternative and, perhaps, ingenious way, of getting the capital you need for car wash financing without worrying about putting up your home as collateral. Moreover, the funds are available to you quickly, and there are no limitations on how they may be used. It is also perfect for an automatic car wash venture, as most people are more likely to use a credit or debit card for these rather than cash.

Owning a retail car wash that takes credit cards is important if you are interested in financing it through a cash advance because they way the premium fee is paid for the advance, as well as the way the money is paid to the provider, is by taking a certain percentage of all credit card and debit card sales over a period of time and automatically transferring the amount to the provider until all is paid.

Like a bank loan, you get capital to finance your car wash. Unlike a bank loan, however, you will not have to show that you have superior credit or assets, but rather that you have a proven track record for operating successful businesses. The two – credit and successful performance – are not necessarily the same, especially if your success rate is a more recent phenomenon.

Many people seek car wash financing because it is a fairly dependable retail investment. Borrowing from future credit and debit card profits to finance it is a creative way to approach start-up and operations.