Breaking Down The Wall Of Skepticism
Synergy Merchant Services provides merchant cash advances to small and medium-sized businesses in Canada. This alternative source of funding is much different that a traditional bank loan in that it is not borrowed money. Instead, we purchase a certain amount of a merchant’s future credit and debit sales by providing them with a lump sum of cash within five business days.
Now, this is something that we have been communicating to business owners all over the country for the past few years, and yet many have still not heard about this type of funding for businesses. And we completely understand that. Still in its “toddler stages” if you will, the concept of the merchant cash advance is foreign to most Canadians.
That being said, our staff is fully aware that many business owners are skeptical when first hearing about our program. This is why our team works diligently to break down that “wall of skepticism”. The Synergy Merchant Services staff is highly trained to attentively listen to the concerns of our potential clients in an effort to quell any fears that they may have about the many “scams” that are out there.
Rest assured, we did not become “Canada’s Merchant Funding Company” by scamming anybody. In fact, we take great pride in being the nation’s leader in supplying entrepreneurs with the working capital they need to take their companies to the top of their respective industries. We ask that you give us the opportunity to speak to you so that we may answer some of the questions you may have about our program.
For most who first hear about it, they become immediately skeptical about the fact that there is “no interest rate” affixed to our cash advance. While this is absolutely true, by no means are we saying that we give out free money! Now, that would be nice, wouldn’t it?
Of course, there is a charge for the cash advance that is known as our “discount fee”. This is simply a one-time cost for the cash advance that represents the amount a merchant must add to the cash advance he or she receives when paying it back.
Some owners are also skeptical about the idea that there is “no fixed repayment schedule”. This too, is true. Now, this is not to insinuate that a merchant can take his or her sweet time and repay the advance whenever it is convenient. The way in which we get paid back is one of the most beneficial aspects of the program.
We literally only receive a payment when the merchant makes a sale. Through a seamless automated process, Synergy receives payments towards the cash advance by withholding a small percentage of the credit and debit transactions that go through a merchant’s terminal. It’s known simply as a “withholding perecentage”. If no sale is made, no payment is made. It’s that simple.
For most, of course, it isn’t that simple at all. And again, we completely recognize that many business owners may have reservations about becoming involved with this foreign concept. This is why we introduce our program by offering an absolutely free review of a merchant’s credit and debit card summaries in order to provide information on exactly how much money your company would be approved for and what it may cost.
There is no obligation at all to take the cash advance. We simply ask for the opportunity to break down the wall of skepticism that you may have. We’re confident that you will be happy with what you see on the other side.