Around the Synergy Merchant Services offices, we have a few favourite phrases that we like to use. We enjoy utilizing these phrases not because they are, by any means, catchy or even original. We love using them, however, because they are completely true to the nature of our innovative merchant cash advance program. Here are a few of Synergy’s favourite things to say:
“The Best Part About Our Program Is…”
Our licensed funding specialists often use this phrase to discuss what literally is, what we believe to be, the greatest aspect about our program. And that is the way our clients pay us back. Now, don’t get us wrong. We don’t just like being paid back because it is how our business actually generates an income. We love the payback method because it is the most convenient method of making payments imaginable.
Nearly every client we have ever developed a relationship with has had the experience of paying back a loan of some kind. Some recall having to make payments on student loans after graduating from their post-secondary institutes. All experiences had identical traits. Payments were expected to be made on a strict monthly basis. Of course, interest accrued on the outstanding balance. Payments were divvied up between interest and principal balance payments, with the latter maintaining priority.
With our merchant cash advance program, our clients are insured that no payment is ever unmanageable. We take great pride in the fact that there is no fixed repayment schedule. With payments being made through a small percentage of a merchant’s credit and debit sales, the payback time is determined by the merchant, not us. We literally only get paid when the merchant makes a sale.
That way, there is no possible way to be late on a payment. In addition, with no accruing interest rate attached to the cash advance, our clients are assured that they will only pay back the exact amount owed with nothing extra attached to the balance. All payments go towards paying off the principal balance as it is the only balance that exists.
“Unlike A Bank…”
This is one of our favourites as well. What truly makes our program an excellent source of alternative funding for businesses is the fact that it operates much differently than a bank loan. In addition, to not having an interest rate or fixed repayment schedule, our funding specialists are only too pleased to also note that “unlike a bank”, no collateral or credit checks are necessary in order for a client to be approved for merchant funding.
Not to mention, securing approval itself can literally take minutes, as opposed to the weeks and sometimes months-long process that securing a bank loan can often entail. There are, of course, a number of other phrases that we use around here that we will touch on in future.
This is, perhaps, our favourite phrase of them all. It is heard by many of our clients who have used our cash advances to create greater successes out of their businesses. We hope to hear from you shortly, so that you may hear this phrase from us as well.