How a Merchant Cash Advance Provided This Barber Shop Owner With Working Capital To Purchase New Barbering Chairs & Styling Products! - Excel Capital Management
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How a Merchant Cash Advance Provided This Barber Shop Owner With Working Capital To Purchase New Barbering Chairs & Styling Products!

Joseph Ruiz, a 28 year-old barber shop owner from Baltimore, MD came to Excel Capital Management for working capital after hearing about the success of a fellow barber who took a Merchant Cash Advance. Joseph’s barber shop was the talk of the town, and he needed working capital fast and upfront to continue the growth. Joseph had set his sights on purchasing more barbering chairs and products. Having already done the necessary research, Joseph placed a quick call to a funding specialist at Excel, provided her with four months of recent bank and credit card processing statements, and a simple, one-page application.

Joseph went on about his business and left the work to his funding specialist. After only two business days, she called him with the great news! Joseph had been approved for a $7,000 Merchant Cash Advance! He was ecstatic, quickly took the offer, and was funded the very next day after providing a few pieces of additional paperwork and signing the closing contracts. Within three weeks, Joseph was using the capital efficiently to purchase new barbering chairs, styling products, and he even had some funds left over.  Better yet, Since a Merchant Cash Advance is a short-term financing transaction with payments collected through a set percentage of a business’ Visa and MasterCard sales, Joseph was able to focus solely on his business rather than making hefty payments. Another Excel Capital Management Success Story!

Are you a hair salon or barber shop owner, check out our latest blog: Alternative Funding Solutions for Hair Salon and Barber Shop Owners 


Click here to read more Excel Capital Management Success Stories

*All Case Studies are based on real businesses Excel Capital Management has funded. The names of our clients and their businesses have been changed to protect their privacy.*

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