One of the best aspects of Synergy Merchant Services’ cash advance program is the fact that we have such great relationships with merchant processors throughout Canada. Our relationship with Moneris – Canada’s largest processor of debit, credit and gift card transactions – for example, allows for us to be the leader in this industry.
Working with processors throughout Canada allows for us to provide small to medium-sized businesses in the country the opportunity to get their hands on extra working capital quickly. In fact, we are confident that our merchant cash advance program is the quickest and easiest way for owners of small and mid-sized companies in Canada to get money.
You may be wondering what their processors have to do with it. And if so, we’re glad you were wondering that. Firstly, our relationships with companies like Moneris allow us to assess just how much money we can advance to a business owner. We base this number on a merchant’s monthly credit and debit transactions.
Without requesting collateral, liens or even the standard credit check, Synergy is able to determine exactly how much of a cash advance can be offered and what it would cost. We do this by simply reviewing the statements provided to a merchant by his or her merchant processor. Our ties with many of these processors allow for this process to be a simple one.
Secondly, these relationships allow for our clients to enjoy the usually painstaking process of paying the money back. The repayment of the cash advance just so happens to be our program’s greatest feature. And it is because of our relationships with their processors that we can offer it.
Through a seamless, automated process, merchants pay back their cash advances through a small percentage of their future credit and debit sales transactions. What that means is they never have to worry about cutting a cheque or transferring a balance from their bank accounts. There literally is no such thing as ever being late as there is simply no fixed repayment schedule.
There are other merchant funding operations out there, of course. But they don’t enjoy the type of relationships we do with processors across Canada. As a result, many of them require the opening of a “lock-box” or third party bank account that a merchant’s daily batch outs are placed in. What this does is force a merchant into wait an extra day or two to have their money deposited into their own bank account so that the funders may retrieve their percentage first.
Our program offers the easiest way to not only get money, but to pay it back without worry. So what are you worried about? Give one of our licensed funding specialists a call and discover just how easy it may be for you to get the working capital you need to help your business grow. We promise to provide an easy process.