Assisting for Canadian Loans & Merchant Advances
Merchant Advances have been around since the 90's.
US merchants have been taking advantage of this unique funding product for the past ten years to assist with cash flow, to fund renovations & expansions and to purchase equipment & inventory.
Company Credit Capital is now offering this small business loan alternative to Canadian merchants through it's partners. The funds are based of your future credit and/or debit card processing sales and are typically available in as fast as 10 days.
With a merchant cash advance, you are not receiving a loan and therefore there is no interest rate. Instead you are selling your future credit card sales at a discount and receiving cash up front. The discount rate varies based your business's overall financial stability.
The repayment of the merchant advance is extremely desirable to merchants as the repayment is done through a small percentage of the daily credit card and/or debit card transactions; if you have a slower month the payments also slow down and vice versa.
Our partners can provide Canadian businesses such as restaurants, retail stores, hair salons, auto repair shops, medical practices, etc. with up to $200,000 per location.
To find out how much your business qualifies for or to receive additional information please contact us:
Get Cash Quickly For Your Business
When evaluating a merchant advance as a financing option, you have to compare the cost of funds to the opportunity that’s being capitalized, and if that opportunity has great money making potential, then using this service makes great sense. The merchant advance company are willing to take a risk when the banks are not so that your business can get a critical growth capital injection to increase sales. Raising this type of growth capital is typically only possible by selling equity to private investors, in which case a substantial portion of the business gets sold forever. Clearly, a merchant advance is a much better option than selling a part of your business.
Use Your Funds However You See Fit
The most common use of funds when getting a merchant cash advance is to acquire inventory. Additional inventory allows a retailer to increase sales during their high season. The key variables that must be carefully analyzed are the gross margin on the inventory and the pace at which the inventory can be turned over. If the inventory turns fast enough and at a high enough gross margin, then using a merchant advance to finance its acquisition is a no brainer.
Simple Qualification Requirements
The basic preliminary requirements for funding is that a business has been in business for at least 6 months. Debit & credit card sales are preferred and allows the merchant advance to take place, but in the absence of debit & credit card sales (for example, if a business’s transactions are entirely cheque-based or electronic funds transfer), The merchant advance can take place as a short-term traditional business loan. As of right now we believe our lenders are the only Canadian merchant advance company to provide a traditional business loan in the event that the debit & credit card sales are not there to support a merchant advance. This greatly increases the number of sectors that we can be involved in and includes B2B scenarios as well as professional corporations.
Short Term Unsecured Business Loans
Short-term business loans work very similarly to merchant advances. Cash is provided up-front and a daily payment is made automatically to repay the balance. The only real difference is that the daily payment is fixed as opposed to being variable and dependent on your sales. By offering this traditional business loan product these financing solutions are available to a much larger audience.
Our Mission: Help Canadian Business Owners
To summarize, it is difficult to acquire traditional business loans in Canada. Canada is very unique in that five major banks hold most of country’s market share. This makes it that much more important for alternative financing industries to flourish. Our banks reward large corporations with extremely low borrowing costs while small businesses are left behind, with no options at all. We are here to create new options for the people that have been getting left out.
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