Locking Out The Lock-Box
Many of the clients we speak to at Synergy Merchant Services communicate their concerns about entering into a situation where they may not have enough cash flow. Especially during these tough economic times, it is not uncommon to meet business owners who are worried about being short on necessary cash.
Synergy recognizes the importance of maintaining a comfortable amount of funds in order to meet regular expenses. We have ensured through our merchant cash advance program that business owners will only be required to pay what they can afford, in addition to NOT having their batch out times interrupted.
As well, Synergy Merchant Services is proudly the only “no lock-box” merchant funding company in Canada. Therefore, Canadian business owners who are looking for an alternative source of extra capital to help grow their businesses are NOT required to change their current business bank account or open a new one.
Most merchant funding companies are based in the United States where merchant funding has become an increasingly prominent source of extra capital for businesses for the past decade or so. While many of them have achieved success on home soil, such companies do not have direct relationships with Canadian financial institutions or point-of-sale processors.
So, when a U.S. merchant funding company wishes to work with merchants in Canada, the Canadian merchant is required to open a trust account, or lock-box, with a third-party organization and split their funds.
As a result, these merchants lose the ability to control the money made from their very own batch outs which negatively affects their cash flow. Sometimes the delay in receiving their funds can be up to a full work week!
With Synergy Merchant Services cash advance program, a Canadian merchant has the luxury of avoiding this entire process. Synergy Merchant Services has become “Canadas Merchant Funding Company” by offering this “no lock-box” relationship as a benefit to our clients.
The solution to helping you grow your business is here. If youre a Canadian business owner looking for extra capital, say “yes” to Synergy and “no” to lock-box!