As you know, the spring season is drawing near. In our last blog, we listed…
On behalf of everyone on the Synergy Merchants team, we hope that you’re already enjoying a very happy new year! Now that 2018 has arrived, it’s back to business for business owners all over Canada. But we’d like to argue that it shouldn’t be back to “business as usual”. There’s no better time than now to implement some changes in your business that will help it to see growth and success like never before.
How can Synergy Merchants help you to implement changes in your business?
It’s our job to provide Canadian business owners with easy access to extra working capital so that they can follow through on their dreams to renovate, advertise, buy new equipment, buy new inventory, expand or handle emergency situations. With our unique merchant cash advance program, the possibilities are literally endless!
So how does a merchant cash advance work?
Firstly, let’s get one thing straight – it’s not a bank loan! With our program, you will not be borrowing any money. Instead, what we do is advance you money based on your credit card and debit card sales. To determine how much money you can receive, we take a look at the sales your company makes through credit and debit transactions. By doing so, we will be able to determine an average of how much you make in credit and debit sales monthly.
Using this number, we will provide you with a free quote that includes how much money we can advance you and what the cost to taking the advance will be. The advance is a purchase of your future credit and debit card sales. In other words, we will be buying a portion of your future transactions, thus giving you money that you will be earning inevitably early. By getting an advance on money that you are bound to earn, you will be able to quickly address your aspirations for business growth.
How are merchant cash advances paid back?
Arguably, this is the best part of our program! You are never required to make a minimum payment by a specific due date. Because we purchase your future credit card and debit card sales, those very sales make up the method of repayment. We receive a small percentage of your future credit and debit transactions until the cash advance and the one-time fee is paid off. In other words, we only get paid when you get paid! When sales are high, repayment is quicker. When sales are low, repayment is slower.
It’s important to note that there is no interest rate that will accrue on your outstanding balance. As mentioned, you are charged a one-time fee for taking the advance. This fee does not grow over time the way interest charges do. Right off the bat, you will know how much your cash advance will cost you.
Let’s start off the new year by getting you the money you need to take your business to the next level!
We imagine that you may have some questions about Synergy Merchants’ merchant cash advance program. And we’d only be too happy to answer them! Please don’t hesitate to call Synergy Merchants at 1-877-718-2026 or email us at email@example.com. Here’s to making 2018 your happiest year yet!