Finance Options: Merchant Cash Advance (New)
How to Choose the Right Merchant Cash Advance Service in Canada
Easy, Flexible and Efficient. Maximizing Your Business’ Potential.
Need Funds? With Merchant Lenders’ Cash Advances, We’ve Got you Covered.
With fast same day approvals and a 95% approval rate, applying for an online cash advance just got easier. Merchant cash advances are the perfect solution for growing pains, seasonal staffing, buying new equipment or even repairing old ones.
Sometimes we can find ourselves in situations where a credit card is unfortunately not welcome as a source of payment. The opening of a new store or certain renovations that have to be made are scenarios that can happen to anyone. A Cash Advance allows you to easily withdraw a certain amount of cash from a credit card or a line of credit which allows to have a little more money in short run in certain situation when you need it in order to have more leverage.
Finding the best place for easy, fast and low risk financing for your small business can be difficult. Whatever the nature of your company, from retail to hospitality, industry to professional services, you need a team that can offer immediate decisions on funding and financing to make an instant impact to your business. One way to achieve funding for your small business is with a merchant cash advance. This enables businesses to easily and quickly withdraw cash from a credit card to cover shortfalls, to make improvements to their premises, purchase new equipment and much more besides. The advantage of a merchant advance is that decisions on funding are made on the same day and with a 95% approval rating. This gives you access to your funds fast and is an excellent line of credit for small and medium businesses.
So how does a merchant services cash advance really work?
Well this is no typical unsecured loan. A merchant advance is directly linked to your daily volume of sales. It is responsive, low risk and allows merchants to borrow based on cash flow. This means that your loan covers quieter times of year, or dips in sales. Perhaps your business is seasonal, and relies on busy summers or winter nights. Perhaps your business is suffering due to staff turnover, or is in need of adding members of staff to the payroll. Perhaps rents have suddenly increased, or a piece of key equipment is faulty and needs repairing. Emergency situations like these can massively hamper small business owners, and cause shortfall or in severe cases even lead to closures. For these kind of immediate problems where a fast solution is required, a merchant cash advance can help your small business.
A small business advance does not just have to be for emergencies, however. As your repayment is based on sales, easily monitored using the latest technology, a merchant cash advance is a great way to take out a low pressure, responsive loan for any eventuality. Traditional loans do not always cater for the changes in circumstances that affect many small business owners. Where going through the normal channel with a lender may require meeting after meeting, a merchant cash advance is the best way to get to your capital fast. You may be looking to make improvements to your premises and want to get the job done quickly. You may be looking to refinance an existing loan. You may want to take out a long term investment strategy that is tied to the money you bring in. In all these cases and more, a merchant cash advance is the fast and easy solution for you.
The major advantage of a merchant cash advance is that as well as borrowing based on sales, the repayment terms remain flexible. For example, if you have borrowed cash from a respected broker to carry out repairs, you will begin repaying based on the sales for that month. However, if another quiet month sets in then the repayments will downgrade to something more manageable. This is great for small business merchants who want to make sure that the changes they make are starting to take effect, such as a new staff hire, a change in premises or something else altogether. Of course, if things start to improve then the payments will grow so that you can settle your advance that little bit faster. A high quality lender will ensure that you are fully aware of the terms and repayment options available to you, to help you pay off at a rate that is comfortable and constructive for you and your business.
So how does your lender decide if you qualify for a merchant cash advance in Canada, and what are the requirements? Well firstly, your business must be Canadian based. You also must accept debit and credit card payments, with Paypal payments monitored too. Using this technology allows the lender to keep a close look on how your business is faring and how much of your loan can be repaid. Typically you need to have an active commercial lease and have been trading for at least six months, with average monthly sales of around $10,000. Each application is taken on a case by case basis, but with a 95% approval rate and a same day decision, the odds are stacked in your favour. You can apply online or over the phone to find the perfect fix for your financing needs and be sure you’re comfortably within financing regulations.
A great financial backer will also pride itself on the support offered throughout the entire application process. Following your successful application, they will endeavour to keep you informed every step of the way. Whether you require advice about funding, refinancing your loan, changes to terms and other advice, a winning team will be sure to have you covered. There should be an understanding that borrowing money can be seen as a risk, but by dealing with a professional service, you can be guaranteed that you are in safe hands. Merchant cash advance loans are approved on a daily basis right across Canada, from Toronto to Montreal and everywhere else in between.
So is a merchant services cash advance the right way for you to finance your business?
Well if you want flexible payment options, a safe and secure funding stream and a chance to embrace the latest technology, then a merchant cash advance is the ideal solution for you. A merchant cash advance in Canada gives you access to this unique and low risk funding model with a team that you can trust.