small Business Loans for gold buyers
Walking along 47th Street between 5th & 6th Avenue in New York City, the warm glow of yellow gold beams out from the windows of dozens of gold buyers retail stores. This is the heart of New York’s jewelry district. Gold bars, gold watches, gold rings and pendants, gold earrings and brooches.
With gold being a highly traded metal commodity and a liquid asset (often a substitute for holding cash), gold buyers have high turnover businesses. As currency fluctuations are effected by world events, buying and selling gold can be very volatile in volume and price.
The head office for United Capital Source is located less than one mile away from Manhattan’s jewelry district. Our proximity has led to our firm providing small business loans to many gold buyers and diamond merchants.
One of our clients owns a large jewelry store on 47th Street and specializes in selling gold. The client had an upcoming event where wholesalers from around the world come to sell jewelry to retail store owners. If our client came with cash he would be able to purchase the gold at very deep discounts versus having to financing it. As New Yorkers, we understand this business and were able to provide our client with a $65,000 merchant cash advance loan. The funds were used to purchase additional gold inventory and allowed our client to profit tremendously. Our client's revenue increased by 25% due to his ability to buy with cash secured from United Capital Source.
A bank or credit lending institution would never be able to provide this!