Synergy Merchant Services provides merchant cash advances to small to mid-sized business owners in Canada. Now, we know you’ve heard us say that before. But the point must continue to be made. Today, Canada celebrates a civic holiday, giving business owners one extra day off work.
Well, for most business owners, there are no holidays. Even if their stores are not open for business, it is inevitable that they are thinking about how to continue increasing the success of their businesses. It is this frame of mind that we, here at Synergy, believe is integral to businesses thriving in today’s economy.
If you’re not thinking of how to take your company to the next level, then you will, sooner or later, be left behind. Some business owners get the wrong impression when they first hear about our merchant cash advance program. Somehow, they get themselves under the impression that it exists to “save” businesses from despair.
In fact, the opposite is true. Our unique program is best utilized by those types of business owners who are looking to grow and expand. The act of so-called “saving” a business would imply that we are giving companies money who may otherwise be on the verge of bankruptcy.
If Synergy were to make a habit of doing that, we may potentially go bankrupt ourselves! Realistically, it makes sense for both parties – the merchant and the merchant funder – if the merchant cash advance is put towards renovations, expansion, new inventory, new equipment, new staff and/or advertising.
Basically, anything that can help a business to grow is a good idea. Putting your extra working capital towards a growth-based venture not only helps the company to better succeed in the marketplace, but it also ensures that the merchant cash advance can be paid back.
The best thing about the program is that payments are only made when the merchant has been paid first through a credit or debit sale. There is no fixed repayment schedule. So, for example, on a day like today – a holiday in Canada – most businesses are closed. Therefore, no sales are made. As a result, no payment is made towards paying off the merchant cash advance.
Our clients never have to worry about missing a payment as there is no due date to miss. So even though today is a holiday, we think that it may best be put to use by thinking about what you can use extra money for. Taking your business to the next level with the help of a merchant cash advance may be the best way to celebrate.