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SEARCHAre you looking to make improvements to your salon, catch up on bills, or bring in inventory, but can’t get access to cash? Merchant Capital Source (MCS) provides working capital to salons that are either unable to obtain a traditional bank loan or have “maxed out” their available credit.
Are you looking to make improvements to your salon, catch up on bills, or bring in inventory, but can’t get access to cash? Merchant Capital Source (MCS) provides working capital to salons that are either unable to obtain a traditional bank loan or have “maxed out” their available credit. “We do this in an unusual way,” says MCS’s Alan Slutzky. “We look at the salon’s historical credit card processing volume and from that we make an estimation of future sales. Then we advance the business cash against those future estimated credit card sales.”
Once the loan is funded, MCS automatically collects a pre-agreed percentage of each future credit card transaction until the advance is repaid. “We require no collateral, no liens, and no personal guarantee from the owner,” says Slutzky. MCS provides working capital to salons in five business days. The salon must accept Visa/MasterCard and have nine months of operating history.
For more information go to www.merchantcapitalsource.com.
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