Being organized, detail-oriented and diligent are excellent character traits for a business owner. A person who crosses his/her t’s and dots his/her i’s is someone who is bound to be successful. After all, paying attention to detail helps individuals to not make mistakes. The most dedicated business owners are the ones who simply don’t miss a beat. This is especially true for those who adhere to strict schedules.
Making sure to attend every business meeting on time, guaranteeing delivery of a product by a promised date and returning important phones calls within the business day – these are all shining examples of how to stick to a schedule in order to make one’s company a highly reputable one. One could argue, in fact, that the more schedule-orientated one is, the better the chances are that he/she will be accomplished.
So is there a business scenario where having no schedule is beneficial? In the world of the merchant cash advance, there certainly is! In fact, the entire “no schedule” portion of Synergy Merchants’ program is often heralded as its best feature. You see, our clients have no schedule to adhere to when it comes to making payments. This is what makes our merchant cash advance program so different than a traditional bank loan.
As you’re likely aware, bank loans require repayments via monthly installments. A minimum payment is due by a specific date each and every month. If that minimum payment is not made by the due date, it is considered late. Late payments not only incur charges, but they also negatively impact a person’s credit history. Not to mention, one’s annual percentage rate may increase, making it all the more difficult to repay the loan in full.
How do merchant cash advance payments work without a schedule? Instead of having our clients make monthly payments, the repayment process is done automatically through their credit card and debit card transactions. From every transaction, a small percentage is taken to repay the merchant cash advance. That way, no payment is ever made without the merchant being paid first!
We work specifically with the ups and downs of the sales made by each of our clients. What that means is that if sales are slow, we are repaid slower. If sales are good, we get repaid quicker. It doesn’t matter if it takes six months or two years for the merchant cash advance to be repaid, the amount of the repayment never changes. In other words, there is no such thing as late fees, interest rates and credit history complications.
What percentage of sales is taken as a form of repayment? In truth, the answer is different for every merchant. This is why we highly recommend that Canadian business owners receive free quotes with no obligation to participate in the program from one of our licensed funding specialists. All that is required is a simple review of one’s recent credit card and debit card sales history.
Based on those sales, a quote can be derived, outlining the amount of the merchant cash advance, the one-time fee and the percentage of future sales that will be taken for repayment. In most cases, funding can take place within 24 hours! For more information, please don’t hesitate to call Synergy Merchants at 1-877-718-2026. You may also email us at firstname.lastname@example.org. It’s time that you discover the beauty of having no schedule!