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Clarifying The Cash Advance

Synergy’s merchant cash advance program may not be for everybody. But that doesn’t mean that it isn’t for you. Are you a Canadian business owner of a small or medium-sized business? If so, you are probably aware that going the route of the traditional bank loan is an uphill climb with an ever-increasing incline.

We’ve lost count of how many of our clients have told us that the banks that they have had relationships with for years have turned them down when approached for money. At Synergy, we understand that it takes money to make money. And smart business owners are willing to look into as many options as possible to get that money.

When heading into a bank, entrepreneurs generally already know that they will be expected to face looks into their credit histories. In addition, they often are requested to put up major assets as some form of collateral. Understandably, most people aren’t too comfortable placing their houses at risk to get money for their businesses.

And why should you? Synergy’s merchant cash advance program requires no collateral. The money you receive also doesn’t reflect on your credit bureau. This is because a cash advance is NOT borrowed money. It isn’t your credit history that we are particularly interested in, but instead your history of credit and debit card sales.

If you accept Visa, MasterCard and Interac cards as methods of payments in your store, we have some good news for you. Did you realize that sales that you haven’t even made yet can be put to work for you today? Literally speaking, within five days, Synergy can place up to 125% of your average monthly credit and debit sales volume into your bank account.

As mentioned, this isn’t borrowed money because the money we provide business owners is payment for the purchase of your future credit and debit card sales. We are providing you with money that you will eventually make in your store…in advance! Naturally, there is a cost to getting the money, and this is something we tell you before you agree to participate in the program.

The best part is the payback method. You will never be given a due date. Instead, allow your customers to continue to pay you using their credit or debit cards and the payments will be made automatically for you. You’ll never have to do anything differently than what you were doing before.

Let your credit and debit card sales do all the work for you. We take a look at your previous sales and then pay your for your future sales. Those future sales are used to pay us back. So it doesn’t matter how long it takes you to pay the cash advance back, you know that you will have placed nothing at risk to get the money you need to grow your business.

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