I had a client contact me a year ago with a BIG need for money. He had gone to the bank and a few other sources to try and get the money he needed without success. He then contacted Synergy Merchant Services to discuss our Merchant Cash Advance program.
At the time, his company was not accepting Visa, MasterCard or Debit transactions from his customers as payment options. His business accepted cash only because he did not have a point of sale payment processor.
That way, he would begin building his equity and eventually qualify for a merchant cash advance.
After I helped my client get established with Moneris for his P.O.S. processing, his business not only started to grow by allowing his delivery drivers to accept credit and debit cards as a payment options at the door, but also after only three months of processing, we were able to qualify him for a merchant cash advance!