Cash advances aren't just for individual consumers anymore. Most businesses, global corporations to independent contractors, find themselves in need of a cash advance at some point in their existence. The problem is that not every business finds themselves in a situation where they can get needed funds in an organized, simple, streamlined manner. If you think you're covered because business is doing well or you have insurance, think again. Here are two specific situations in which a small or mid-sized business might be in need of a cash advance precisely because business is booming and in spite of the fact that you have insurance. 

Outstanding Invoices

You've created and delivered the product or provided the service. You've sent out the invoice. You've waited for the payment of that invoice. And waited...and waited.

If you're a business that handles payment via invoices, then you never know when a glut of business could lead to a glut of outstanding invoices. Meanwhile, you're stuck with utilities, payroll, rent, supplies, equipment, training, and more that all need to be paid for. 

This is a perfect example of a time when a cash advance is needed. You know you're going to get paid eventually, it just hasn't quite happened yet. A cash advance can help you fulfill your business' financial responsibilities even while you wait for your clients to fulfill their own. 

Disaster

Nature can wreak havoc on people's lives, including their businesses. All it takes is one bad thunderstorm, hurricane, tornado, heat wave, flood, or blizzard to destroy your building, plumbing, HVAC systems, and more. In events like these, your insurance may help you rebuild to some extent, but there can often be two kinds of gaps that you'll struggle with. The first is the gap between what you need and what your insurance is willing to pay. The second is the gap between when you need the money and when your insurance is willing to pay. 

Getting a payday advance in this situation could literally keep your company from going under. 

When it comes to getting the finances that you need, when you need them, a business cash advance may be the best option. Unlike insurance claims, there are no deductibles to pay and mounds of hoops to jump through before you get your money. There is a lot that goes into opening, maintaining, and growing a business. With cash advances for merchants, you can make sure you've got the monetary side of it covered no matter what happens.