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Education

application process, they'll find they don't have to wait
long for their money. Once a merchant is approved,
they'll see funding within 24 to 48 hours in their
bank account. Standard bank loans can take more
than a week to process the application alone. Speed
in obtaining funds is vital for business owners when
they need funding immediately to keep their business
running smoothly.
You can obtain more than one advance

If a merchant's initial cash advance doesn’t cover all
their financing needs, they can apply to obtain another
one. Conversely, a bank loan is often a one-time
deal, and proprietors may be lucky to even have the
opportunity to apply for a second bank loan after a
period of time has passed.
No restrictions and no limits

A cash advance can also be used for whatever a
business owner wants; it’s not limited to one particular
use. With a bank loan, funds are typically designated
for a specific use, for instance, upgrading equipment
or renovating the store. With a cash advance, a retailer
truly can utilize the funds as they see fit.

For example, a portion of cash advance funds could be
used for purchasing a new POS system, payroll and
repairs, and the rest could be set aside, at the retailer’s
discretion, to increase their rainy day fund or used for
another purpose. There are no restrictions upon what
a business owner can do with their capital.
Cash advance is ideal for resellers

I want to highlight again that unlike bank loans, which
cannot be repeatedly requested, a business can request
multiple cash advances. This means more commission
opportunities for resellers. The compensation for a cash
advance is often percentage based, and can translate to
a handsome sum for distributors—now, multiply this
by a few funding events and see how lucrative reselling
cash advances can be.

Since businesses can use their cash advances on any
items they choose, this also presents an ideal chance
for resellers to upsell useful products and services they
or their referral partners might offer, because those
offerings can be purchased with the capital.

Business funding gives retailers a lifeline to build,
maintain and expand their businesses. Resellers can
earn significant commissions by offering this add-
on service to their offerings menu. For both business
owners and resellers, it's clear that cash advances are
an exciting opportunity to build success and take their
businesses to the next level.
Elie Y. Katz is founder, president and CEO at National Retail Solutions,
https://nrsplus.com. Contact him by phone at 201-715-5179 or by
email at ekatz@nrsplus.com.
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