According to Merriam-Webster, “collateral” is defined as “property (such as securities) pledged by a borrower…
It is with much sadness that the Synergy Merchants team reflects upon the recent happenings in Houston, Texas. As you’ve heard from numerous news reports throughout the past week, Hurricane Harvey (now a tropical storm) has dumped tons of water on the city creating highly dangerous flooding conditions. Reports have indicated that while thousands of people have been rescued, there have been approximately 30 deaths so far.
Here, in Canada, our cities have also gone through some rough patches – to put it mildly – at the hands of Mother Nature. And while there’s really no way to prevent a natural disaster, there are many ways that we can prepare of them. As a provider of merchant cash advances to small and medium-sized business owners in Canada, we regularly tell our clients that preparing for emergency situations is a very important part of running a successful business.
All businesses should prepare for emergency situations.
“Whether it’s a natural disaster such as an ice storm, or a serious accident in an industrial plant, an unforeseen event can disrupt business operations at any company,” states the Business Development Bank of Canada, “After all, in an emergency situation, your employees may not be able to come to work. Your suppliers may face a shortage of the materials you need to continue your business activities, or demand for your services may simply decline.”
In many cases, our merchant cash advance program has literally saved a business from going under. Following an unforeseen incident due to such things as inclement weather, vandalism, robbery, equipment malfunctions or water damage (to name a few), Canadian business owners have sought out our program to attain quick cash that helps their companies to get back on their proverbial feet.
It’s important to have a plan in place.
“No one can predict the future; however, you can be ready with a sound business continuity plan,” says the BDC, “Getting a plan in place shows your employees, shareholders and customers that you are a proactive organization; it improves overall efficiency in your company and helps you allocate the right financial and human resources to keep your firm up and running during a serious disruption.”
They go on to list the various steps that should be part of a company’s emergency or disaster plan. At Synergy Merchants, we know how important it is for business owners to be able to afford putting their emergency plans into action. If you have any questions about the process by which you can attain a merchant cash advance in an emergency situation, please don’t hesitate to reach out to us by calling 1-877-718-2026 or emailing us at firstname.lastname@example.org.
How can you help the people of Houston?
We’re proud to report that there is a way for all Canadians to assist the people of Houston, Texas with their recent emergency. The Canadian Red Cross is accepting charitable donations on their website. “Money raised will enable the Red Cross to prepare for, respond to and help people recover from this disaster,” they report.
We encourage you all to donate what you can.