Ask any Canadian business owner the question that represents the title of today’s blog and you’re bound to get the same answer: it’s very important! After all, how often do banks provide their business loans within a day of them being applied for? Never. So, at Synergy Merchants, we take great pride in the fact that our unique merchant cash advance program offers Canadian business owners much-needed business financing within 24 hours.
How is Synergy Merchants able to provide money to business owners so quickly? It’s important to remember that our program does not offer loans. What that means is that we do not put applicants through the same long and drawn-out processes that banks insist upon. In other words, we require no credit checks and no collateral. As a result, the application process is a lot less tedious than what our clients have been used to.
Instead, we simply review a merchant’s credit card and debit card sales history. This is what we use to determine just how much of a merchant cash advance we can provide and how much it’s going to cost. The review process can literally take place within minutes. Once we speak to our client in order to provide the free, no obligation quote, he/she then has the option of taking the advance or not.
Can applicants really receive money within 24 hours? Yes they can! As soon as a business owner decides that he/she would like to accept the merchant cash advance, the process of placing that money in his/her account begins. It’s important to reiterate that the money is not a loan. It is not being borrowed. The advance represents a payment for a merchant’s future Visa, MasterCard and debit sales.
Merchants can use that immediate cash to grow their businesses while not having to worry about payment schedules or any accruing interest. The cash advance isn’t free, of course. While there is no interest rate, there is a one-time fee that is added to the amount of the advance to represent the total repayment. The way the merchant cash advance is paid back has often been heralded as the program’s finest feature.
How are merchant cash advances paid back? Payments are made using our secure and easy automated system. Every time a credit card or debit card transaction is processed in the merchant’s store, a small percentage of the sale automatically goes towards paying back the advance. That means that we only get paid when our clients get paid first. There is no time limit for paying the advance back.
We work specifically with the sales trends of each of our customers. We’re happy to report that Synergy Merchants’ clients often herald the program for being “the easiest way to get money and pay it back” that they’ve ever encountered. And we’re hoping you’ll be added to the list of business owners who have taken advantage of it. If you’re looking to secure money quickly for your business, contact us today!
For more information on our merchant cash advance program or to speak with one of our licensed funding specialists to get a free, no obligation quote, simply call Synergy Merchants at 1-877-718-2026 or email us at firstname.lastname@example.org.