Same day cash advances are excellent sources of capital for independent contractors with a proven track record, who don’t have a traditional store front location, and who want to grow their businesses. The proven track record is necessary because a cash advance, unlike a business loan, is based on a contractor’s receivables, their expected receipts, and unpaid customer invoices.
As certain realms of our culture move away from doing business with more traditional businesses to private contractors, these small companies can grow their businesses in several ways without growing into actual brick-and-mortar shops.
What follows is a short list of the type of independent contractors who can benefit from this type of financing.
Same Day Cash Advance for Food Trucks
Food truck owners are excellent candidates for such advances. Food trucks have become quite the rage over the last few years, and while their receivables lines can be quite impressive, the expenses for which they might require extra financing are never too great. They are still restaurants, however, with a never-ending flow of money in and out. A food truck owner could use the advance to:
- Fix or add equipment
- Pay for inventory or utilities
- Increase staffing
Well-performing trucks should be able to finance even their biggest expenditures, say $4000 for a new engine or some other truck repairs, in this fashion.
Home Studios and Same Day Cash Advances
Growing up, we all knew a stay-at-home mother who supplemented the family’s income by turning her kitchen into a beauty salon after dinner. These days, as imagery has become so much more refined, it’s becoming more and more common to see independent contractors from other realms of the personal beautification industry setting up shop in their homes. These legitimate tax-paying businesses include:
- Tattoo studios
- Nail salons
- Facial salons
All such businesses can benefit from cash advances, whether it be to buy supplies or add
another chair, provided they’re well enough established to prove a good investment.
Money for Lawn care professionals
As we, the general public, get busier and busier, we find ourselves more willing to pay others to do the work we once did for ourselves. Lawn care is a prime example of that, and for the person who isn’t afraid of hard work and who markets him or herself well, the lawn care industry can be quite lucrative. Such a contractor isn’t likely to use a cash advance to buy a new 2.5-ton pickup on which to base the business, but for smaller ticket items, this type of financing can be quite beneficial. Some of those items might be:
- Additional laborers
Same day cash advances are the right fit for many contractors in many situations, and they can help turn a dream into a reality.