Top-ups on already existing client accounts are called ‘renewals’ or ‘re-advances’ in the merchant advance world. It surprises many prospective clients to hear that so much of our business is done with the same businesses over and over; but once they experience the program for themselves, they understand why. The merchant advance program is designed to compliment individual small businesses. This means that each advance is tailor made to meet the specific financial criteria of the individual business according to its industry type and seasonality, along with many other factors.
The amount of hard work and detail that goes into each new financing agreement is something we pride ourselves in at Merchant Advance Capital. That’s why our re-advance ratio per client is so high- because every time a client has paid down a portion of the original amount owing, we are able to offer them additional funds at a premium rate.
The result has been staggering! We’ve been fortunate to develop longstanding relationships with many of our clients and have re-advanced several Canadian businesses more than a handful of times over the years. Our very first client is still with us, and we’ve just celebrated our seventh renewal together – a merchant advance milestone!
With lucky number seven behind us, we look forward to the future, where we have many accounts up for renewal this season. Feel free to contact any of our agents regarding your existing account, or the prospect of setting up an account with us with an option to renew. The renewal process is simple, and it’s the convenience and speed that we operate at that keeps our cycle so efficient. We’d be happy to lay down the entire process and discuss how your business could benefit from our re-advance financing cycle.