Now that the holiday shopping season is upon us, you’re likely pretty busy preparing for all of those extra customers you’ll be getting. One thing is for sure, if you’re in the retail business, you better have stocked up on a lot of extra inventory so you can meet the demands of all of those holiday shoppers. What’s that you say? You can’t afford to purchase new inventory right now? That’s a shame.
At Canadian POS Corporation, we strongly believe that every Canadian business owner deserves the opportunity to cash in on the holiday shopping season. But, we also know that not every Canadian business owner has the means to buy new inventory or advertise in ways that they know will help them to boost sales. This is why we highly recommend our unique merchant cash advance program!
How does the merchant cash advance program work? As long as you’re accepting credit cards and debit cards as methods of payment at your place of business, you are eligible for a merchant cash advance. We take a look at your past credit card and debit card sales to determine your average monthly sales amount. We then offer you a free, no obligation quote based on that amount.
The quote entails the total amount of the merchant cash advance you are eligible for and the one-time free which represents the cost of the advance. The total amount would be paid back through a small percentage of your future credit card and debit card sales. There is no monthly minimum payment and no time frame within which you must pay back the advance. There is also no accruing interest rate.
Remember that a merchant cash advance is not a loan. It is money that has been advanced to you as a payment for your future sales. For this reason, there is no credit check, no need to put up collateral and no requirement of you to come up with a detailed business plan. What you decide to do with the money is completely up to you. And, of course, during the busy holiday season, there are plenty of smart ways to use your money to grow your business.
Why not stock up on that inventory you need? Many retailers buy their inventory in bulk. And while the costs of doing so can get up there, they are usually more cost-effective. That’s because, generally speaking, the more items you buy, the cheaper the costs are per unit. Naturally, during the holiday shopping season, you’re bound to require more units anyways. Putting your merchant cash advance towards buying new inventory is a wise choice.
Why not advertise your products and special holiday sales? During this time of year, Canadian shoppers are definitely looking for bargains. If your store can offer such bargains, it’s important to be able to get the word out there. Perhaps, your merchant cash advance would best be spent on an advertising campaign that can encourage more shoppers to visit your place of business to do their holiday shopping.