As requested, I am sharing my 2008 predictions for the merchant cash advance industry.

In 2007, many merchant cash advance companies saw their fair share of bad debt. No matter how many merchants are advanced or how much money is funded each quarter, the bottom line is to expect losses to eat into industry profits.

In 2007, many companies attempted to capture market share and attract new agents and ISO's by funding deals which, in most circumstances, may not have been approved.

In 2008, you can expect to see more and more merchants that no merchant advance company will touch. Possibly even an industry black list.

In 2007, a bidding war between merchant cash advance companies empowered agents and ISO's to attain some of the highest commissions ever recorded in the cash advance industry. The simple fact that there is a new industry in Canada has fostered much competition to find the right agents. Agents and ISO commissions will balance or reduce in 2008.

This market is huge. It’s growing at an exceptional pace which builds on the importance of having a standards act in place. I feel confident that in 2008 you will see the key players in the merchant cash advance industry come together to announce a set of “best practices” for not only the merchants, but also to protect the merchant cash advance providers.

The level of fraud committed against merchant cash advance providers in 2007 has brought forward the importance of building such an act.

Demand for merchant cash advances is growing in a very aggressive manner. It is no longer a question of whether or not this is a booming industry. It is a matter of educating business owners about who, what, when, where and why!

In any case, I anticipate 2008 to be a very positive year for the merchant cash advance industry. I wish everyone all the best in 2008.

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December is traditionally the slowest time of the year for merchant level salespeople. Merchants are busy trying to take advantage of the holiday rush and don’t have time to re-evaluate their merchant processing.

This is a great time to dust the cobwebs off the business plan you put together for 2007 and plan for the next year. Review the goals you set for the ending year, and evaluate your performance.

Did you meet or exceed your goals? If not, why?

Look for new approaches to meet those goals in 2008. End your year with a great plan to start your new year off right with a merchant cash advance and receive working capital to attain your goals.

Merchants are frequently in need of cash when they have already exhausted all other sources of available credit such as bank loans, lines of credit and credit cards.

Banks often refuse to lend money to merchants in this situation because there is no obvious way to secure the loan, and lending money to a merchant who is already in debt to other banks is inconsistent with normal underwriting guidelines.

The creative entrepreneurs of the merchant cash advance market, including Synergy Merchant Services, offer a product called merchant cash advance that allows a merchant to pay back a cash advance by directing its processor to split credit card receivables between the merchant and the company that gave the cash advance. Hence, ensuring a timely payback of the principal and continued working capital for merchants.

A cash advance is typically more expensive for a merchant than a loan. But for many merchants, it is their only or most logical choice. The cash advance industry is very active in the United States and has slowly emerged in Canada, putting Synergy Merchant Services; a Canadian owned company on the front lines and at your service.

It would be expected that most agents or ISO's for merchant cash advance companies focus on only the commissions they are being paid and don’t care much about who they are selling services for. Not true.

In fact, I have discovered that most agents find a greater benefit in obtaining higher approval rates rather than higher commissions. The fact of the matter is that agents make their money on volume of clients more than big ticket advances.

Some merchant cash advance companies may offer exceptional commission rates to get agents on board only to soon realize that the company is approving under 20% of all applicants. On the other hand, it may make more sense for an agent to partner with merchant cash advance companies that offer a much higher approval rate.

Synergy Merchant Services Inc. offer agents, ISO's and merchants an approval rate over 90% in 2007. For agents and ISO's this makes for a very competitive market for their expertise. There is power in the promise to approve.

Synergy Merchant Services is setting its sights to become Canada’s greatest CFC partner.

CFC is the first and only Canadian source of Merchant Cash Advances. They work with approved debit and credit card processors to provide merchants with small business financing based on their Electronic Payment Sales.

Synergy Merchant Services officially works with CFC as a partner for Canadian Marketing initiatives.

Our goal is to provide Small and Medium Sized Enterprises (SME's) with a flexible way to grow their business without impacting their cash flow. We make the process of obtaining working capital quick and easy, ensuring that you won’t encounter the difficulties associated with traditional bank loans and factors.

By working hard to attain this goal, we have become the trusted partner of many merchants all over Canada.

A comment found on CFC Financial Corp web site. CFC Comments “We have received some calls and emails about Synergy Merchant Funding. Synergy is an authorized CFC reseller and a great partner of ours, and has begun to be key players on the Canadian Merchant Funding landscape.”

Synergy Merchant Services is proud to ring in the 2008 yea with CFC!