As a Canadian business owner, you should always do your homework before agreeing to any sort of financial deal. That’s what Arturo Calderon found out when he realized that his restaurant costs would run over budget. In a great piece by Entrepreneur, Arturo gives a quick recount of his restaurant’s situation and why he chose to take a merchant cash advance – It was fast, it was simple, and payment amounts were flexible based on his own sales volumes.
Pros:
Fast
Simple
No Collateral/Credit History needed
No fixed payment amounts or dates
Cons:
Higher cost than traditional loans
