A few short months ago, Canadian POS Corporation introduced our innovative new merchant cash advance program. Because we too are Canadian business owners, we understand that when an opportunity or unexpected emergency presents itself to entrepreneurs, timing is everything. That’s why at Canadian POS Corporation, we endeavour to provide our nation’s merchants with emergency funds within 24 hours!
Of course, the money doesn’t always have to be for an emergency. But the fact that our clients are able to get their hands on it so quickly means all the difference in the world to them. You see, prior to the merchant cash advance option, business owners were relegated to going to banks to attempt to secure business loans. And, as far too many have discovered, this isn’t always a fruitful process.
Canadian business owners are regularly turned down for business loans for a wide variety of reasons including not having any collateral, having a poor credit history and not being prepared with detailed business plans. The way in which a merchant cash advance works makes it so that that none of the above mentioned requirements come into play. Instead, all that is necessary is a review of a merchant’s credit card and debit card sales.
What is determined by the credit card and debit card sales review? By determining your average monthly sales amount, we can provide you with a free, no obligation quote for a merchant cash advance. The quote will entail the maximum amount of the advance you’re eligible for and the one-time fee that it will cost you to take the advance. What is important to note here is that the money is indeed an advance, not a loan. This is why credit checks and collateral aren’t necessary.
It is your money to do with as you please! You are being advanced money based on credit card and debit card sales you’re bound to make in the future. In other words, we’re making a purchase of your future credit card and debit card sales. This is a major factor in our ability to get you the money so quickly. We’re making a payment. Now, as mentioned the money isn’t free. There is a one-time fee.
What is the one-time fee for the merchant cash advance? This is determined by a number of factors, most notably the amount of the cash advance you’re eligible for. What’s important to note is that the fee is only charged once and is part of the total amount of the cash advance repayment. Unlike with a bank loan, there is no accruing interest rate. That means you’ll know exactly how much you have to pay back in total without guessing.
When you pay interest, the total amount of your repayment isn’t known until the day you’ve actually paid it back in full. As well, with bank loans, you’re required to make minimum payments on a monthly basis. There is no repayment schedule with a merchant cash advance. Payments are made automatically through a small percentage of your future credit card and debit card sales.
This part of the program is often heralded as its finest feature. This is because it insists upon no time limit. It doesn’t matter if you take six months or two years to repay the advance, the total repayment will be exactly the same. Again, there are no interest charges and since there’s no such thing as being late, there are no late fees! Don’t you think it’s time you treat your business to a merchant cash advance?
For more information about getting a merchant cash advance for your business, call Canadian POS Corporation at 1-877-748-2884 or email us at info@localhost.