A little over 5 years ago my husband and I opened a specialty bakery. We offer exquisite coffee drinks and delicious baked goods. Our customers rave about our business and we are happy to serve them. We started toying with the idea of opening a second bakery. We definitely want the new shop to have the same exact design and feel that make our current customers come back for more. My husband and I researched and talked to experts who gave us the right ideas for location, space, and how to get the most bang for our buck. During our research we learned that we didn’t have to apply for a small business loan. There are actually small business loan alternatives that offer up to $250,000 and have fewer requirements than a traditional lending institute. We did not want to be tied down to a long term loan or a high fixed monthly payment when we didn’t know how successful the new shop would be. Our first bakery took two to three years to become the success it is. The small business loan alternative we found is called a merchant cash advance and is based off business owner’s future credit card sales. We thought about it and this could work, we can use the current bakeries credit card sales and make payments while we get the new one up and running. All we had to do to apply was fill out a short form right online. A representative called us back immediately and we were approved in days and had the money in our business account within 2 weeks. Our second bakery is being built and we can’t wait for the grand opening. A merchant cash advance opened a whole new world for us!
Thank You Genesis Capital!!