Essential Steps to Become a Successful Small Business

As you seek out new financial solutions for your business, you’re wondering about merchant cash advances. What is an MCA, and what can it do for your small business?As it turns out, a merchant cash advance has serious benefits for small businesses. Check out these advantages, and you might be convinced that an MCA is the right move for you.

Funding Based on Your Future, Not Your Past

One of the biggest benefits of a merchant cash advance is that your future is more important than your past. With a traditional bank loan, you must provide your business’s past income and revenue. They’ll also want to see the business’s credit score and maybe your personal credit score.A merchant cash advance, however, is extended on the basis of anticipated future sales. The lender examines your past credit card and debit card sales to make an estimate about what you’ll earn in the future. They offer the advance based on what you’re likely to bring in.That’s great news for small businesses without a lot of history under their belt. Plus, since it’s forward-looking, it takes into consideration that your business is growing. That’s much better than a traditional loan that looks at your past and doesn’t consider your future needs.

You Can Use It for What You Need

A merchant cash advance offers more flexibility to a small business. Some traditional loans will earmark your funds for particular business uses. An equipment loan, for example, needs to be used to buy equipment. A payroll loan must fund payroll.An MCA can be applied to either of these expenses. Since the funds aren’t earmarked, you could use the MCA to help with payroll. Then you could take any leftover funds and put them towards that equipment.You can even use the MCA to help with day-to-day operations. Need petty cash? The MCA’s funds could stock it up. What about keeping the lights on? The MCA could help you with the electricity bill too.This gives small business owners greater freedom and flexibility than other traditional loan products.

A Merchant Cash Advance Offers More Payment Flexibility

Perhaps the biggest benefit is that the MCA gives small businesses more flexibility when repaying the advance.With a traditional loan, you’ll have a set monthly payment. If you experience a poor sales month, then you might only be able to make a partial payment. You might default on the loan or require another loan to pay it back.The MCA is different. The lender takes a percentage of your actual credit card sales as payment. When you have a good month, you can pay your MCA back faster. If you hit rough waters, then the payment decreases accordingly. You don’t need to worry about defaulting on the payments.

Discover the Benefits of an MCA for Your Business

These benefits can make a merchant cash advance the right choice for many businesses, but they’re especially helpful for small business owners.Ready to see what an MCA could do for your business? Get in touch with the experts to get the funds you need today.

As a celebration of Small Business Month, 2M7 Financial Solutions is proud to announce its team will be featuring its simple, flexible funding alternative at the 2022 Small Business Summit in Toronto to help more Canadian companies succeed. Since its inception, 2M7 has been dedicated to providing small business owners in Canada with a simpler and faster borrowing solution – providing the cashflow they need to run and grow their operations, even if they don’t qualify for traditional business loans.“

It’s getting exponentially harder for small business owners to qualify for loans from banks and other financial institutions, so 2M7 strives to provide the fastest and least complicated alternative to help support our Canadian entrepreneurs,” said Avi Bernstein, CEO of 2M7 Financial Solutions. “We believe it’s more important than ever to help small Canadian businesses grow, and our team is excited to take part in this year’s summit to meet the small business owners who are the true backbone of our economy.”

2M7 has helped thousands of businesses get funding to hire staff, buy inventory, repair equipment, expand to new locations, and more. Designed specifically for Canadian small business owners, 2M7’s merchant cash advance solution gets companies the funding they need – faster. Based around simple terms and flexible repayment structures, small businesses can easily get the cashflow they need, while having peace of mind that repayments are based on their month-to-month sales performance. Unlike banks, 2M7 provides its clients with fast funding, depositing funds directly into their bank accounts within 24-48 hours to invest almost immediately in their operations, however they see fit.“

In this fast-paced era, 2M7 has been proudly helping Canadian companies bring their businesses online to establish a global reach, as well as financing the digitalization of their processes in order to streamline operations, so our team is excited for this year’s summit theme of Embracing Digital Disruption,” said Avi. “With an increasingly competitive business landscape, and the ease of accessibility to a global market, we’re proud to give small businesses the competitive edge to grow even faster.”

To learn more about 2M7’s merchant cash advances for small businesses, please visit the 2M7 Financial team at booth #014 in the Metro Toronto Convention Centre, on Wednesday, October 26^th, or to see how much funding your business qualifies for, click here.

About the 2022 Small Business Summit

The Small Business Summit is an annual event in Toronto that celebrates Small Business Month and focuses on helping entrepreneurs grow and succeed. The summit will bring together start-ups, business owners, and experienced professionals for a day of networking. Hosted in Toronto, the third-largest tech hub in North America, the 2022 event will be themed “Embracing Digital Disruption” and feature major keynote speakers.

People are working harder than ever. Chances are, you have put in some long hours at your job. While this is admirable, it is also important to make sure that you have a proper work-life balance. Here’s a look at the top benefits of properly balancing your life at the office and at home.

1) Reduces stress

‍According to a recent survey, due to Covid-19, the majority of the Canadians feel stressed during the day. With stress comes adverse effects to the body and the mind. Lots of that stress comes from fixation with work. Therefore, it is important to take your mind and your body away from the workplace to allow yourself time to depressurize from your daily responsibilities.

2) Prevents burnout

‍More and more people are switching careers. One of the reasons why people will leave a career after a few years is because of burnout. Therefore, it is important for people to have a chance to relax and not have to grind all the time at their job. By preventing burnout, you can continue on your career and potentially reach new heights at your job.

3) Ensures physical well being

‍No matter what your age, it is important to stay physically active. For those who work in an office for 12 hours a day, it is hard to get the physical activity needed to stay healthy. Thence, it is important for you to get out of the office, go for a walk or do some simple exercises to get the blood flowing and properly maintain your body. By staying physically active, you can lower your blood pressure, maintain a proper weight and prevent atrophy of your muscles.

4) It increases productivity

‍When you have a proper work-life-balance, you are able to get more things done. That’s because you will be refreshed and comfortable at your job which can lead to better productivity. It’s a good idea to give yourself at least 12 hours of free time between workdays to allow you to recharge and have full focus at your job.

5) Allows you to enjoy life

‍It’s important that you take the time to enjoy your life. After all, you will not look back on your life and regent not taking that extra business meeting. When you take the time to enjoy life, it will give you the energy to be more productive at your job. Be sure to give yourself time to take a vacation every now and then to feel better.

Need Help When Work Becomes Overwhelming?

‍If your business needs a little help, rely on 2M7 Financial Solutions to help you get back on track. We can provide your business with a merchant cash advance in one business day. Contact us today to learn more.