The online firearms industry is booming. In the last few years, gun sales have ballooned with the ability to sell and buy guns on the internet. Websites like Armslist host ads to buy and sell the gun of their choice without undergoing any type of background checks. The opportunities to build a successful online firearms business are endless. Unfortunately, firearms merchants often have a difficult time finding funding for their online firearm merchant accounts. But many merchants use credit card financing to become operational or stay in business.
Ever since the last financial crisis, many larger financial institutions are hesitant to underwrite small business loans. A popular alternative for many has been to finance a part of their business with credit cards. Here are a few major benefits to use credit cards.
Savings from Rewards
Some studies show that the average small business spends approximately $26,940 annually. Companies that use credit cards can increase cash flow through rewards. If you are offered a standard 2% cash back card, you can get over $530 back in rewards. That’s extra cash to pay for business expenses like utility bills and supplies.
Stay on Top of Spending
By having all your bills coming out of the same account, and putting miscellaneous purchases onto a credit card, will help organize your spending. Being able to track every transaction will give you a better understanding of cash flow and prevent overspending. Plus most small business credit cards are compatible with programs like QuickBooks or Excel, which track and display financial information
Take Advantage of Deferred Interest Promotions. If your business needs some flexibility, take advantage of business credit cards that offer 0% introductory APR periods that last 12 months or more. This is especially helpful if your company is making large purchases that cannot be paid off immediately.
Using credit card financing is a valid option for online firearm merchants who need a little assistance getting their business off the ground. In addition to credit cards, online firearm merchants can also use online lenders like EMB to acquire monies with little to no restrictions. eMerchantBroker is a leading online payment processor that can help expand your online business with flexible and business friendly terms. Start your application today.