2021 is only a week old. Obviously, it’s too short a time to determine just how successful a business year you’re bound to have. Or is it? With a merchant cash advance, you can enable your company to grow in ways it was unable to in the past.
What exactly is a merchant cash advance?
A merchant cash advance is not a loan. It is a lump sum of money paid to you in exchange for a percentage of your future credit card and debit card sales. Your only requirement for approval is your acceptance of credit cards and debit cards. Based on the average monthly amount that your business makes through credit and debit sales, our licensed funding specialists determine how much of an advance your company can be approved for.
You get a free, no obligation quote that informs you of the maximum advance amount you can take. You also learn of the one-time fee that is associated with accepting the merchant cash advance. Remember that it is not a loan. Therefore, you are not charged interest. Nothing accrues on top of your outstanding balance over time. Instead, your funded amount and the one-time fee represent the total amount of money you are required to pay back.
How do you pay back your merchant cash advance?
There is no time frame and there are no fixed payment amounts when it comes to paying back your merchant cash advance. Using our secure and easy automated system, the advance is paid back automatically on a daily basis through a portion of your future Visa, Mastercard and debit sales.
Every time you process a sale, a small percentage of that sale goes towards paying back your advance. As a result, it is impossible to be late with a payment. Your payments can be as quick or as slow as your sales are. If sales are high, your advance is paid back quicker. If business slows down, so do your payments. The bottom line is that you’ll never have to worry about missing a payment! Your credit score cannot be impacted in any way.
How quickly can you receive your merchant cash advance?
Our clients generally receive their advances within 24 hours. And that is actually the longest it can take. In most cases, our clients are able to receive their funding on the same days as their initial applications! Our program is ideal for any Canadian business. It doesn’t matter how long it has been in business, which payment processor it uses, what industry it is in or what its processing volume is.
Finally, unlike with loans, you can use your merchant cash advance for whatever you want. No pre-discussed business plan is necessary. Whether it’s for renovations, advertising, buying new equipment, buying new inventory, expansion or any other business venture you see fit, a merchant cash advance may be exactly what you need to ensure a successful 2021!
For more information about our unique merchant cash advance program, please don’t hesitate to call Synergy Merchants at 1-877-718-2026 or email us at firstname.lastname@example.org. You can also apply online for a free, no obligation quote!