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Since customers often purchase jewelry products with debit or credit cards, we usually recommend a merchant cash advance for jewelry stores. This type of working capital loan is paid back via a fixed percentage of future debit and credit card sales. Significant payments are only made when a significant amount of revenue is being generated from these transactions. As long as you and show substantial debit and credit card sales, occasional dips in revenue will not impact your application.
The payment system for merchant cash advance makes it a fabulous tool for financing investments amid tumultuous cash flow. Many borrowers are able to purchase inventory and launch marketing campaigns during slower periods, even though they won’t see any additional revenue for several months.
One of our clients owns a large jewelry store on 47th Street that specializes in gold products. He contacted us shortly before an event in which wholesalers from around the world come to sell jewelry to retail store owners. Having a large amount of cash would allow the client to purchase gold at a deep discount, as opposed to having to finance it. We provided a $65,000 merchant cash advance that ultimately increased the client’s revenue by 25% and, thanks to the use of cash, drew a large profit.
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We are aware that a great deal of jewelry stores are owned by women. Since women usually start businesses with less working capital than men, they have a much harder time growing their businesses. This is why United Capital Source has access to small business loans for women who are looking to overcome natural but unfair disadvantages.
With these small business loans, obstacles like limited funds, poor credit history, or the size of your business will no longer stop female borrowers from accessing the amounts and terms required to stay competitive in this chaotic industry. Apply now to see how much you qualify for!