The Top 4 Small to MediumSized Business Trends in 2019

Expanding your business is an exciting opportunity, but it can also present serious challenges. One of the most common is actually cash flow issues. How? If the business is growing, shouldn’t you have more money flowing in? Business may have increased, but you might need to pump money into equipment or hiring new staff so you can keep up with demand. Until you can get that new computer system or hire that extra person, your customers are experiencing a bumpy sort of service. Your income could be uneven as a result, as you might not have the products they want when they want them. You might have trouble getting invoices out on time. Does this sound like your business? A merchant cash advance could be just what the doctor ordered. The benefits of an MCA could help you manage the cash flow issues presented by an expanding business. Here’s how.

Merchant Cash Advances Help You Get the Cash You Need

A merchant cash advance, or MCA, gives you access to funding based on your future credit card or debit card sales. The lender will look at your past sales, then extend you an advance as a percent of estimated future sales. That means the more sales you’re likely to make, the bigger the advance can be. In turn, you can invest it into whatever you need it for. That’s because the MCA doesn’t have to be directed towards certain goals, unlike an equipment loan or a payroll loan. You can use the funds for what you need, when you need it.

MCA Repayment Terms Are More Flexible

Another bonus of a merchant cash advance for a growing business is that the repayment terms are more flexible. With a traditional loan, you’ll have a set payment that you have to make every month. With a growing business, income can be unpredictable. That, in turn, could lead to situations where you’re crunched for cash. You may feel squeezed needing to make your monthly loan payments. That could lead to bigger problems, such as a poor credit score or even defaulting on a loan. Since an MCA is made against your future sales, you pay it back as you make those sales. If your sales dip lower than expected, then your payment falls too. If you make more, then you can pay your loan back faster.

It’s Faster to Get a Merchant Cash Advance

If you find yourself in a pinch over payroll or other financial obligations, then you might wonder what choices you have to get the funding you need. A merchant cash advance is much faster than getting a traditional loan. That makes it the perfect stop-gap measure for a growing business. Whether an unexpected expense crops up or sales grew slower than you’d hoped, an MCA can help you make up the difference.

Need Some Cash?

If your growing business needs a quick influx of cash right away, then it’s time to get in touch with a merchant cash advance provider. With their help, you can keep your business growing the right way.

2M7 Financial Solutions is proud to announce the recipient of the 2022 “Forward Thinkers” scholarship – the annual scholarship that recognizes distinguished and entrepreneurial students who encompass 2M7’s values and demonstrate a genuine desire to make progressive strides that help drive their desired industries forward.“We’re pleased to award this year’s Forward Thinkers scholarship to Beiya Xie, a Business student majoring in Entrepreneurship and Innovation, who challenges the status quo and thinks outside the box to find innovative solutions to improve her family’s small business,” said Avi Bernstein, CEO of 2M7 Financial Solutions. “Since its inception, 2M7 has been driven to support forward-thinking small businesses in their journey, and Beiya demonstrates a level of dedication and innovation that is at the core of our business values.”As a proudly Canadian owned company, 2M7 strives to stay at the forefront of its industry and offer an alternative lending solution that better fits the needs of small businesses in Canada – giving them quick access to the funding they need to expand and accelerate their growth in order to succeed in today’s competitive landscape.“Canadian entrepreneurs and small businesses are the backbone of our economy, and 2M7 has an unwavering commitment to helping them grow. Just as with our small business clients, we believe it’s important to give students the opportunity to excel in their fields,” said Avi Bernstein. “Beiya demonstrates a deep passion for improving the products her family business offers, a vision for expanding the services they provide, and a dedication to customer service excellence that 2M7 is proud to support.”Founded in 2008, 2M7 Financial Solutions has grown into one of Canada’s largest merchant cash advance providers – providing over $250 million in small business funding to date. With extensive expertise in Canada’s lending landscape, and a deep understanding of the challenges that small businesses face in getting approved for loans, 2M7 helps business owners get the financing they need.

About the “forward thinkers scholarship” by 2M7

The ”Forward Thinkers” scholarship is an annual scholarship program, established by 2M7 Financial Solutions to recognize outstanding students who are pursuing or entering full-time studies in Business, Finance, or an equivalent program. The scholarship is awarded to students that encompass 2M7’s core values and demonstrate a genuine desire to make innovative stride that drive their industries forward. For those interested in applying for the 2023 scholarship, please follow 2M7 on Facebook for updates on next year’s scholarship.

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.