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Why A Merchant Cash Advance Is Your Best Business Funding Bet

As far too many Canadian business owners have discovered, banks tend to make it far too difficult to secure small business loans to grow their companies. At Synergy Merchants, we firmly believe that a merchant cash advance is a Canadian business owner’s best option for growing his or her business. The way we see it, being able to secure extra working capital for the purpose of business growth should be a lot easier than banks make it seem.

Why is it so hard for business owners to have their loan applications approved by banks?

To secure a business loan, you generally have to go through quite a few hoops. Among the many hoops is the fact that you will need to have established an excellent credit history. That means having many years of being able to make credit card payments on time. But we’re not just talking about your credit card history here. If you’ve had any outstanding payments that have gone to a collection agency, it could spell trouble.

That includes unpaid parking tickets, phone bills, lawyer’s fees and just about anything else that may involve a requirement for you to make minimum payments in timely fashions. Securing a bank loan also often entails the putting up of collateral. That means that you’ll have to put something as significant to your life as your home at risk. Banks want to ensure themselves that they are paid back. And if you can’t repay your loan, you may lose your house!

Why is it so easy for business owners to be approved for merchant cash advances?

Firstly, there are no credit checks and you don’t need to put anything on the line as collateral. As well, unlike with a bank loan, the merchant cash advance application process is a quick and easy experience. We regularly approve potential clients within minutes of reviewing their credit card and debit card sales.

By reviewing your average monthly sales via credit card and debit card, we can offer you a free, no obligation quote for a merchant cash advance. That quote involves the amount of money you are eligible for and the exact one-time fee that it will cost you to accept the advance. Right there is another reason why merchant cash advances make better options than bank loans.

Here’s another reason: there is no interest rate! To be clear, you are charged a one-time fee that is dependent on a number of factors that include your industry type, the size of your average sale and how much money you’re willing to accept. By accepting the advance, you will know, right away, the total amount of your repayment.

What is the best part about accepting a merchant cash advance?

There is no repayment schedule! Because repayment is done automatically through a small percentage of your future sales, you will only be making payments when you are paid first. That means that there is no minimum due on a monthly basis. And with no interest rate, you don’t run the risk of having to pay back more than you originally expected. You’ll also have no worries about your acceptance of the merchant cash advance ever impacting your credit rating.

For more information about 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

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