Vancouver, BC (PRWEB) August 02, 2013
HSBC Bank Canada recently announced it will lend $1 billion over the next 18 months to support Canadian small and medium size businesses to assist with international growth. But not all businesses will qualify. To take advantage of funding, firms must have an annual revenue of $3 million to $250 million—revenue that not all Canadian small businesses can claim.
For Canadian small businesses who may not qualify to apply for the HSBC funding due to revenue requirements but who are seeking to expand, Merchant Advance Capital (MAC) offers merchant advances of up to $150,000 in working capital to businesses owners who have a physical storefront and accept debit and credit cards as payment.
Whether a business seeks to increase sales this year with the purchase of new inventory, advertising and marketing, expansion, renovations or is simply in need of emergency cash, MAC offers loans with no personal collateral required.
Merchant advances are a smart alternative for restaurants, pubs, clothing stores, retail stores, convenience stores, coffee shops, auto repair shops, clinics, franchise operations, hotels and other retailers accepting credit and debit cards for payment at storefronts across Canada.
“Canada's small-business sector represents the vast majority of Canadian business but are generally undercapitalized,” said David Gens, CEO of Merchant Advance Capital. “Of the more than 1 million Canadian small businesses, 75 percent have fewer than 10 employees and many cannot yet claim $3 million in yearly revenue. We’re here to help these businesses with the financing necessary to one day meet those numbers.”
To learn more about Merchant Advance Capital or to get started in applying for a loan, go to http://www.merchantadvancecap.com and keep up with the latest Canadian business news and happenings with our blog and by joining our Facebook community.
About Merchant Advance Capital:
Merchant Advance Capital (MAC) is a Canadian owned and operated company headquartered in Vancouver, British Columbia that provides flexible financing solutions for Canadian small businesses.
Our processes are fully automated and business owners have the option to tie their payments directly to sales volumes, giving small businesses exceptional cash flow flexibility. Founder and CEO David Gens comes from a family of entrepreneurs and his previous experience was in the private equity investment business with CAI Capital Management Co. He launched Merchant Advance Capital to provide alternative financing to a wide range of businesses including: restaurants, pubs, clothing stores, retail stores, convenience stores, coffee shops, auto repair shops, clinics, franchise operations, hotels, and many others across Canada.