Month: June 2018

What to Look For In a Residential Safe?

A safe is considered to be an investment. Prior to starting with the research process regarding the type of residential safes which can protect your belongings, you need to ask yourself if you have valuables which require investment in protection.  The price of the safe is something that people can justify to themselves. In case you do not want to buy a sturdy material and simply want a sage then you will just not need a safe. To get a good safe, you will have to spend a good deal of money.  If you spend more, you will get additional protection.

residential safe

Education

The unfortunate things about any residential safes company are that most of them do not advertise their construction and specific security of the product. Thus, you need to find out what are the questions that you need to ask. When you ask the questions, you also need to find out what are the answers that you would like to hear. Buying blind or buying without doing any kind of research might lead to a large purchase which does not offer proper protection. Before you buy them, check them out.

Steel Content

Find out about the steel content for the door and the body. Most of the safes have a body of ½ or 1/3 metal content. Again, the gauge of the steel is also necessary to consider. 12 gauge is known to be the lowest gauge steel that can be used for a safe. With the decrease in the number, the strength of the steel will increase. Additional stainless steel layers are going to disperse heat from torch attack and offer added strength.  You have to be careful about composite doors since their thickness doesn’t represent the stainless steel content.

Welding

For a strong construction, you will have to buy residential safes with continuous weld.  This means that the weld is used for fusing two metals.  A continuous weld will vary to a great extent from spot weld.  This is weaker and makes use of binding spots which can be compromised.  Sledge hammers can also be used for breaking the spot welds. However, there are several ways to the spot welded apart from the metal.  You will be able to drill out the spot welds, use a specific spot, or burn it with the help of a torch.  The end result will be a solid piece of metal with continuous weld for your residential safes.
Residential Safes

Fire Resistant Standards

Every safe company is known to use different standards for measuring fire resistance. Irrespective of the bold claims, there is no safe which is fireproof. When you find out the company specific testing criteria, you have to pay attention to whether the sage has been tested and long the test has been run. High resistance time and low temperature will be same as high temperature and low resistance time. In case the company is unwilling to tell you how they are going to test their safes, it is better not to purchase the product. Fire resistance is a necessary factor and lack of information will surely lead to loss.

Do not forget to check the warranty that residential safes company is providing.  It tells you that the company has faith in their product and they hold themselves at a high standard.

Is Merchant Cash Advance Right For Your Business?

You are a business owner and you need some quick cash for your business. You might have opted for a traditional business loan but it can get rejected. Even worse, you may need to wait for a month. This is where a merchant advance can be of great help.

Well, before you start to ponder on how a merchant cash advance (MCA) can help your business, you should go through the rest of the blog.

What is An MCA?

A merchant cash advance is considered to be an advance and not a loan that is given to a person against future credit card sales receivables.

merchant advances

How MCA Works?

One needs to have a proper understanding of how the merchant advance works. Ideally, an MCA is for those businesses that are on the lookout for some quick finance and their source of revenue is credit and debit card sales.

 

Repaying the Advance

Unlike the traditional business loans, individuals opting for MCA can repay the amount in different ways. One popular method is to provide a slice of the future credit and debit card sales. Alternatively, one can repay the amount slowly on a weekly or a daily basis from the bank account. This process is known as ACH (Automated Clearing House).

merchant advance

Brokers of MCA are admitting that the latter method of repaying the huge sum of money is getting widely popular. Basically, whatever mode a person chooses to repay the entire merchant advance, one would need to repay the amount till the entire amount is paid off.

The Cost

Depending on the credit card sales receivables, the amount of money that the businesses can obtain vastly depends. However, while deciding the amount, the interest rate is also calculated.

Reason to Opt for It

The reasons behind businesses opting for an MCA are mentioned below. They are:

MCA Pros and Cons

  • In order to get the merchant advance approved, one won’t need to wait for long period of time. The application can take 1 week at the most to get processed.

  • An MCA doesn’t ask for any collateral in order to provide the cash. It sees the business’s daily credit card receipts in order to provide the money. It won’t ask for any deposits.

  • There is no fixed amount of repayment for MCA services. Depending on how well the business is doing, repayment adjustment is made.

However, merchant cash advance comes with certain drawbacks. For instance, if a business is facing greater credit card sales, the annual percentage rate would also increase.  Similarly, the provider of MCA provider can keep the borrowing and interest rate up to 300%. Hence, the repayment structure can be confusing.

With merchant advance being structured as a commercial transaction, it is not subjected to federal regulation. The credit score gets checked by the lender. Last but not the least; individuals don’t get to enjoy any interest savings.

Hopefully, after going through the details you will know it’s good for those businesses who want some quick money. Before taking an MCA, consulting an expert is always advisable.