Over the past several days, Toronto has experienced some unreasonably cold weather. Now, we say that it’s “unreasonable” simply because we can’t understand any reason why it has to be this cold! Sure, we know that the rest of Canada may be used to temperatures in the minus twenties, but perhaps last year’s mild winter has made us soft.
Either way, with the cold and, of course, all that added snowfall that Toronto did not experience last year, it brought to mind one of the biggest benefits that our merchant cash advance provides our clients. Each and every year, we speak to business owners who mention that one of the biggest problems with the winter season is when the weather impacts customers’ abilities to go shopping.
Naturally, when the weather is extra cold or if the snowfall is great, it is much harder for consumers to make their ways into stores. This creates sales slumps for businesses everywhere. Well, because Synergy’s merchant cash advance program has no fixed repayment schedule, all of our clients who undergo a sales slump during the harsh days of winter have nothing to worry about.
The repayment of a merchant cash advance is made through a small percentage of the Visa, MasterCard and Interac sales made by our clients. If sales are slow, then so are the payments. But what about those days when the weather is so bad that our clients can’t even open their doors?
That situation too, is no problem. If no sales are made then no payments are made either. We understand that business fluctuates. Our merchant cash advance program works with each business owner’s specific needs so that there is never a time when a payment needs to be made without the business owner being paid first.
With no fixed repayment schedule, it doesn’t matter how long it takes for our clients to pay the merchant cash advance back. Therefore, when business is slow, there is no need for worry! Of course, if the company owner was paying back a business loan, no bank would be as sympathetic to the fact that business has slowed due to the weather conditions.
When paying back a loan, an owner must adhere to the payment schedule or become subject to potential late fees, increased interest rates and a negative impact to his or her credit rating. No matter the weather, we promise only sunny days ahead when you participate in Synergy’s merchant cash advance program!