FAQ

The business must be based in Canada, have been in operation for more than six (6) months with at least C$10,000 per month in debit/credit card sales. Find out exactly what you qualify for by filling out our online application form and a Relationship Manager will contact you within 24 hours.

We have a list of processing companies that are compatible with our system. Your designated Relationship Manager will be able to make the assessment during the review of your application.

It does not matter who your current debit/credit card processor is. Our automated system has been designed to work with all major processing companies. At Merchant Growth we will never ask you to switch from your current processor – we are not in the business of payment processing, we are in the financing business!

Applying for a merchant advance is absolutely free – we do not charge any fees associated with the application process. The size of the fee for your merchant advance depends on a number of factors including the size of the advance, the size of your business, the industry you are in, the level of seasonality in your business, and the size of your average sale, among other things. Find out exactly what you qualify for by filling out our online application form and a Merchant Growth Relationship Manager will contact you within 24 hours.

At Merchant Growth we view each business and each situation as being unique. We maintain a flexible approach and have the resources to tailor our financing solutions for a variety of circumstances. To the extent that you are using your Term Financing funds for new equipment, we may set up the transaction as equipment financing. If you have other collateral you are able to offer (personal property or otherwise), this may also be used to lower the cost of your advance. However, putting up collateral is completely optional. We just believe in giving you the choice so that we can offer you a better price! Please contact us to discuss the specifics of your situation.

Although your credit score is a factor in our decision, there are many other factors that play into our decision of whether or not to advance cash to your business. Having excellent credit is not a pre-requisite. Also, your Term Solution will not affect your credit score. Apply now and see how much you qualify for!

Our process is fully automated so you never have to worry about making a payment. We only get paid when you get paid and our automated process collects a specified percentage of your debit/credit card sales on a daily basis. In the case of a Term Financing loan solution, a small fixed payment is electronically debited from your business bank account on a weekly or daily basis. This continues until your balance is settled.

We may be able to buy out your loan. This will depend on a few factors such as your remaining term and balance. Contact us to find out how much we are able to offer you!

No – once the daily retrieval percentage (or “withholding percentage”) has been set it stays the same until your outstanding balance has been satisfied. However, at Merchant Growth, we do our best to ensure that your business will remain profitable during our program. As such, we keep the withholding percentage small and typically set it to between 4-15%.

By analyzing your historical debit/credit card sales volumes we establish targets for the length of your Term Financing program. A program can be designed to last anywhere from 6-18 months and the amount of cash that we can advance you depends on the length of the program. However, the length of time it actually takes for us to get paid back depends on how well your business does (we don’t get paid until you get paid!). Apply now and a Merchant Growth Relationship Manager will contact you to discuss which options best suit your needs.

As long as you meet our basic qualification requirements you may be eligible for a Term Solution – because our product is not a traditional bank loan (it is a purchase of a portion of your future debit/credit card receivables), we may be able to provide cash for your business without affecting your other obligations. Please contact us to discuss the specifics of your situation and we will determine whether you are eligible for the Term Solution program.

You can use your Term Financing for any business purpose. Examples of ways that business owners have successfully invested their merchant cash advance money include:

Advertising
Expansion
Equipment Repair
Working Capital
Inventory
Renovations
Buying Out a Partner
Debt Reduction
Tax Payments
Emergency Situations

We can provide funding for your business in as little as one (1) business day upon receiving your completed application forms and documents.

A Merchant Growth Relationship Manager is happy to assist you:
Monday – Friday 9:00am to 5:00pm PST
Phone: 1-866-240-3694
E-mail: clients@merchantgrowth.com