With the Winter Olympic Games just around the corner in February 2010, Canada is excitedly getting prepared to host the huge event. Taking place in Vancouver and Whistler, British Columbia, the Winter Games are being held in Canada for the first time since 1988 when they emanated from Calgary.

Today however, Toronto was granted the privilege of having the famed Olympic torch pass through the nation’s biggest city. Although 100 or so protesters attempted to block its path, the ever-lit torch made its way through Yonge Street. towards City Hall. The protesters, however, were heavily outnumbered by the many supporters who came out to see the torch passed along during its famous run throughout the world.

As reported by The Toronto Sun, it is believed that many of the protesters represented the Ontario Coalition Against Poverty who are angry “about the effect the Olympics will have on Vancouver’s native community.” Nevertheless, many who are excited about the upcoming games lined the streets of downtown Toronto to catch a glimpse of some of the torch carriers twho included Olympic rower Marnie McBean and ballerina Karen Kain.

The Olympics have long been known to showcase the diversity of the world and the coming together of all nations in celebration of that diversity. This was evident today as another torchbearer, Akshay Kumar who is a famous Bollywood actor, drew several hundred fans from Toronto’s East Indian community.

For some fans who can’t travel to B.C. for the games in February, today’s torch run throughout the streets of Toronto represented the next best thing. Quoted by The Toronto Sun, retiree Murray Swartz said of he and his wife: “We came down to see what all the excitement is all about. We support our team and hope they win a lot of gold medals.”

By approximately 7pm today, the torch found its way west of Toronto in Brampton, Ontario. There, the final torchbearer Ryan Bennett carried the torch around the Gage Park skating trail in a sledge hockey sled. The torch will remain there for the night and begin its departure from Brampton tomorrow morning.

The 2010 Winter Olympic Games is expected to bring a lot of attention to Canada and with that, a lot of business. It is hopeful that not only will our Canadian athletes win gold but our business owners will receive the equivalent in terms of sales. Clearly, the lodging industry will be very busy. So with that, here’s to the new year bringing both Canada’s Olympians and economy to new heights.

Recent reports have predicted that holiday shopping was bound to experience a decline this year as Canadians have been reeling from the effects of the nation’s recession. And while spending on a decreased budget sounds like a sensible move for consumers all over the country, a release by The Canadian Press earlier today indicated that the opposite is true.

Says the report, “Canadian shoppers are opening their wallets a lot wider this year than last despite concerns over the economy.” Conducted by one of Synergy Merchant Services’ closest affiliates, Moneris Solutions Corp., the survey found that sales have been up significantly leading into the last shopping weekend before Christmas.

The survey by Moneris – the leading debit and credit card payment processor in Canada – tracks national sales for the final five weekends of the pre-holiday season. Previous news releases insisted that that sales would be down this year due to the country’s struggling economy. Especially with the loss of so many jobs, it was thought that so many Canadians would be unable to afford their regular gift-giving traditions.

According to today’s report, Moneris found that the in the first weekend of December, sales were up by 5% with department stores enjoying a 12.8% increase in sales, when compared to the same weekends of 2008. Also among the most successful industries were clothing stores which saw a 5.4% rise in sales as well as drugstores that experienced a 3.8% jump.

Last weekend, apparel retailers received a 11.4% spike in sales giving them an overall 6% increase from all of last year. Evidently, the Canadian economy is experiencing a long-awaited recovery as consumers are not only expressing their holiday spirit but acting upon their renewed confidence in the economy.

Said David Ades, Moneris’ senior vice-president, sales and marketing: “As the Canadian economy begins a trend toward recovery, the increase in pre-holiday spending is a clear indication of renewed consumer confidence…Canadians are clearly more optimistic about the future this year than they were during this time last year, and retailers are capitalizing on this by using creative marketing tactics to draw them in early and often.”

Interestingly, Moneris noticed that although credit card usage is seeing a resurgence with the recovering economy, debit cards are being used with greater frequency. Their survey monitored all merchant categories tallying both dollar values as well as transactions numbers made through their terminals all over Canada.

A new decade is almost upon us. What will you be doing to secure your business’ success as we enter into 2010? At Synergy Merchant Services, it is not uncommon for us to hear from a business owner he or she does not “need” any more money. But how could this ever possibly be true? The nature of business is to make a profit. In order to do so, money must be spent intelligently to invest into the business. Therefore, with the proper inventory and advertising, a greater amount of money can be made back through sales.

It’s a simple formula, isn’t it? So if a business owner wants to make more money, wouldn’t more money be required in order to do so? We are very understanding that many Canadian business owners are working on recovering from the harshness of the recession of this past year. Drops in sales have often resulted in cost-cutting measures of reducing staff. So why would a business owner be looking to spend more money now?

Well, that’s just it. In order to recover from a slower than normal year, businesses need to reinvigorate their consumers with the knowledge that their products and services are worth their costs. Companies need to fight to regain not only their presence in the marketplace, but their dominance of the industries they represent as well.

Synergy makes the process to ensuring that businesses can afford going to the next level an easy one. We encourage Canadian business owners to spend no more than a few minutes of their time speaking to one of our licensed Funding Specialists. We are confident that the information provided can help take their businesses in a direction they never thought was previously possible.

Remember that our quotes are absolutely free. And there is never any obligation to participate in our merchant cash advance program. Also keep in mind that no credit checks are required and no collateral is necessary to be put on the line. A simple look at a merchant’s monthly statements that reflect Visa, MasterCard and Interac sales is all it takes to receive the free quote.

Now we know that at this time, not all business owners are thinking of expanding their businesses in the new year. We also recognize that, for the most part, the reason for this is that many of these owners feel that it is unrealistic to do so. This is because so many have resigned to the fact that they cannot afford their plans to grow.

We pose the following question to those business owners. If you had an extra ten or twenty thousand dollars in your bank account five business days from today, do you think you could find a use for it?

We believe that any Canadian business owner who accepts Visa, MasterCard and/or Interac cards as methods of payment can certainly make use of the cash advances available to them from Synergy.

Getting a quote is the first step. Believing that you can truly succeed is the second.

As Canadians get prepared for the holidays, many are excitedly looking forward to next week’s large family gatherings, huge feasts and the giving (and receiving, of course) of gifts. Some are looking even beyond next week into the final week of the year as they welcome in not just another year, but a brand new decade.

For those Canadians, this week marks the beginning of plans to have a party to usher in the new year surrounded with friends and family. Synergy Merchant Services Vice President of Marketing & Chief Technology Officer, John Meloche, on the other hand, has other plans.

“I’m headed to the Dominican Republic!” exclaimed John to his now-jealous co-workers earlier today. Making sure to rub it in to everyone who intends on staying in the freezing Toronto cold this holiday season, John described his plans for what he hopes to make a yearly tradition. Of course, if it were up to John, he’d spend the beginning of every year on a tropical beach. And who could blame him?

With the gloriously warm weather, cool blue ocean and luxurious beaches, any trip to the Caribbean is a popular choice among travelers during any season. The notoriously cold Canadian winter is even more of a reason, however, to jump on a plane once Christmas is over.

“It was either that or Jamaica, mon!” explained John in his best Jamaican accent. John, who has been to Jamaica three times now, practically considers it his second home. Clearly, traveling is among his favourite pastimes.

“I’ve been to the Bahamas, Puerto Rico, Belize and even Guatemala,” boasts John. Along with his lovely fiancée Kathryn Papadacos and a few other close friends, John will be making his first trip to Punta Cana this month. An extremely popular vacation spot, Punta Cana boasts beautiful beaches and a gorgeous climate.

And while the rest of the Synergy Merchant Services staff seethes with envious rage (masked by all of our well wishes and “make sure to take pictures” remarks), the rest of Canada is invited to party it up with John and his friends this new year.

“Come join me at the VIK Hotel Arena,” insists John. Overlooking the incredible beach of Bávaro, this resort boasts a wide array of activities and amenities. We are sure, however, that John and company will have no trouble finding themselves a bunch of ways to have a good time.

“If only I was a store that accepted Visa, MasterCard and Interac,” John told his team earlier today. “That way I’d take a merchant cash advance from Synergy and go on vacation every year!”

“Why not just stay on vacation…” mumbled an associate who will remain nameless.

Just joking, John. Have fun and happy new year!

Trying to save money this holiday season? Well, take a page out of Santa Claus’ book and make a list, making sure to check it twice. Quite honestly, you will likely check it more than twice if you are a bargain-hunting shopper, and that should suit you just fine.

As is evident, we are currently in the middle of the craziest shopping season of the year. For many people, it unfortunately marks the beginning of a debt-ridden new year. But this, of course, does not have to be the case. Too often, holiday shoppers stack charges for gift after gift on their credit cards. In doing so, they forget just how much they have spent until they receive their credit card bills in the mail.

Needless to day, charges add up. To save yourself from the misery associated with inflated bills that are hard to pay, shoppers should create holiday gift shopping lists that they literally check off as they are shopping. Writing down the price of each item as it is purchased will help you to determine just how much you have already spent and how much you may spend going forward.

Essentially, you are keeping a running tab. Without doing so, you may eventually overspend and be caught in a situation where you cannot afford your purchases.

Another thing shoppers should always do is keep their receipts. Yes, this practice comes in handy when making returns becomes necessary. But even more importantly, consumers can ensure that the charges on their bills are indeed correct. From time to time, an incorrect charge may appear on a bill, swelling a consumer’s balance unnecessarily. In worst case scenarios, these charges are purposely made fraudulently, although most often they are simple mistakes.

Being aware of these errors will help for a bill to be paid correctly and within the realms of one’s budget. Often credit card users overlook these incorrect charges and end up paying for something that they did not purchase.

Cross-reference your receipts with the charges on your bills each and every month to make sure your spending is accurate. If you have already listed each of these charges on your holiday shopping list, your credit card bill should come as no surprise.

Obviously, the holiday season is meant to be a joyous time. However, all too often, people get themselves trapped in debt due to careless spending. Make your list, check it twice, and you will be sure to have happy holidays.

At many workplaces, colleagues get into the holiday spirit by partaking in an annual tradition. Some call it “Secret Santa” while others refer to it as “Kris Kringle”. Some simply call it the “Gift Exchange”. No matter the name, participating in this joyous act of giving can really help boost spirits around the office as employees approach the holiday season.

And while the “secret” gift-giving game can be quite fun, it can also lend itself to creating some anxiety among work associates. What do I get this person? What does he or she want? How much should I spend? What if he or she doesn’t like the gift I buy?

These above questions are often raised in a mini-fit of panic by many a worker. But rest assured, there are numerous ways to get around them to ensure that your “Secret Santa” experience is a fun and stress-free one.

Firstly, if you plan on setting up a gift exchange activity in your workplace, you should definitely set a clear spending limit. Be certain that the limit is a reasonable one for your employees to ensure that it is not unaffordable. Generally, limits are set as low as ten dollars and sometimes as high as 25 bucks.

As long as a comfortable number is set, no employee should feel uneasy about the amount required to spend on the gift for their colleague.

Secondly, try not to worry about what to get an associate that you may feel unfamiliar with. There are ways of discovering what someone may like as a gift without revealing who your “Secret Santa” selection is. Going about getting this information can sometimes be a sneaky practice, but as a result, one that is lots of fun.

In some offices, employees put up small “wish lists” at their desk for anyone to see. That way, fellow workers can anonymously peruse each list so that they may inconspicuously discover what the perfect gifts would be for their selections. Some choose to play the “someone wants to know what gift you’d like” game by simply asking around.

The smartest way to play this one is to ask several associates the same question so as to not give away who your secret selection is. It’s no fun to simply reveal who you have chosen. This, of course, defeats the purpose of the secretiveness of the event.

If all else fails, there are countless types of gift cards out there that should easily satisfy even the hardest-to-read co-worker. Gift certificates for shopping malls or restaurants are near impossible to disappoint. Sometimes, simply allowing your gift recipient to choose what he or she would like to purchase makes life that much easier. It is, however, less exciting.

One thing to avoid, however, is overdoing it! Keeping the spending limit in mind is important. While it may be greatly appreciated, buying someone a gift that is more expensive than everyone else’s gift is sure to put many of your co-workers in an awkward position. Remember, it’s not about showing off, it’s about showing holiday spirit.

This year, Canadians spent a lot of time worrying about the security of their jobs. Sadly, due to the recession, many lost their jobs to find that securing new employment was an extremely difficult task. Cutbacks and layoffs have been rampant throughout 2009 as the nation experienced a severe financial crisis along with the rest of the globe.

The Associated Press reported yesterday that a recent survey found nearly 70% of Canadian companies are concerned about losing their best staff because of these cutbacks and pay freezes. Many are hopeful that they will be hiring in the new year in an effort to remain competitive in the marketplace.

In what may seem an ironic twist, the survey conducted by the Towers Perrin consultancy firm, found that 55% of these companies plan on doling out bigger salaries to their top staff and 40% say that they will work towards improving their talent management programs.

This, of course, comes as good news to end a year where money has become harder and harder to come by for the Canadian worker.

In 2010, says the survey, there will thankfully be less companies planning to impose a pay freeze throughout their staff. In addition, only 11% claim that they have no plans to increase wages. In 2009, nearly half of the companies surveyed felt impelled to freeze their staff costs.

There is, in fact, more good news on the horizon for Canadian employees next year. The survey also revealed that companies are not planning as many job cuts in 2010. Only 10% of respondents reported that they have plans to release more staff.

It should be noted, however, that Canadians shouldn’t go spending a fortune on their holiday shopping in light of this positive news. While many companies plan on hiring and ridding themselves of pay freezes, the raises planned are not expected to be very significant. Canada, obviously, is still working its way through the recovery process.

The companies who do plan on increasing wages will only be doing so by about 2.5% – a full 1% less than a year before. Bonuses are also expected to decline. Says The Associated Press release: “More than half of the 143 companies responding said they plan lower or no bonuses for 2009.”

Sometimes we forget that the holiday season can be a very stressful one for many people. Having to deal with excess bills or perhaps even obnoxious family members may put a lot of individuals on edge. Today, the Toronto Sun reports that there a lot of different ways to cope with both clients and co-workers who may be experiencing the type of frustrations that may negatively affect their moods.

Denis Grignon and Cinnamon Tousignant of the Canadian Mental Health Association offer a number of tips to cope with these tension-filled types. According to Grignon, stress is a healthy response to a situation that requires a response that doesn’t have to be negative. Unhealthy ways to respond to stress, he warns, include ignoring it, blaming others or becoming aggressive, unhappy or angry.

Often workers experience stress on the job. Especially during this year’s recession, employees may fear the potential loss of their jobs. Employers can certainly do their part to quell these fears by clearly articulating “roles, responsibilities, authority and deadlines,” says Grignon.

Keep in mind that everyone has different personalities. Do your part to listen and understand where a complaint or concern is coming from. Expressing empathy can go a long way. Consider that people have lives outside of their jobs that may potentially affect them in the workplace. Be sure to get as much information as possible about each individual situation to make a fair assessment before you respond.

Both Tousignant and Grignon offer up a list of solutions to deal with stress. It includes establishing specific, measurable and achievable goals, writing down short and long-term goals, dividing these goals into “chunks” so that they can be worked on bit by bit and of course, setting priorities.

Following these steps, of course, will help alleviate your own stress as well. When you are thinking with a clear and focused mind, you also will be better suited to handle the stress of others in the appropriate way.
Taking time to focus on fitness and nutrition will also help you to be at your physical and mental best to deal with stress, say Tousignant and Grignon. Believe it or not, there are also physical ways to avoid getting yourself stressed out during this time of year. One suggestion is actually to try squeezing and releasing your hand when a customer or co-worker starts getting on your nerves!

This practice, in fact, will help to calm you down and allow you to handle the situation effectively. Making time for yourself is also key. Read, meditate or take a walk, if necessary, to give yourself some moments to relax.

Remember that your reactions are the only things that you truly have complete control over. Sometimes difficult behavior requires difficult decision making. Make good decisions and you’ll not only have a great holiday but a great future as a business owner.

It couldn’t just be flurries, huh? We can’t just have a light sprinkle of the white stuff to officially start off our winter season, can we? No. We here in the southern Ontario region usually get to enjoy a December void of very much snow. For many years, we have grown somewhat accustomed to getting news about the rest of Canada being buried underneath several centimetres of snowfall, while we generally wait until the new year to plan our snowball fights.

However, barely a week into the month of December, Environment Canada has issued a winter storm warning for the City of Toronto. Whatever happened to expecting a chance of snow before it all comes avalanching down on us? What gives? Says CityTV meteorologist Adam Stiles, “A tricky storm system is on the way, packing snow, wind and some rain for the GTA.” Just great.

As 680News.com reports, “Traffic Constable Hugh Smith is asking drivers to take it easy and leave space between vehicles.” Says Smith: “Those speed limits on the roads are maximums, and that is for the eight months of the year when there is really good road surface, you’re going through all those different changes, the rain, the snow, the sleet. It’s going to have an effect whether you have snow tires or not.”

Those looking to make it in on time to work tomorrow morning are encouraged to leave a full hour early for their commutes. Why do some people actually like snow again? The 680News report notes that snow and strong winds are expected to begin tonight and continue right until the morning.

The question on the minds of many Torontonians, especially those who drive, is most likely “when will the snow get cleared?” Reports indicate that as the snow begins, salt tracks will be sent out. As well, once the snow gets to five centimetres, plows will get on the main roads to clear them until the snowing stops.

If snow accumulation hits eight centimetres, then plows will visit the local roads as well. Sidewalks of local roads will also be cleared wherever possible. Property owners are also reminded that they are required to clear their sidewalks of snow 12 hours after a storm hits.

With the winter season officially upon us, many school children no doubt, will be ready to hit the outdoors in an excited effort to create snowmen and engage in snowball fights. Those a bit older, however, with the task of commuting to and from work and school every day are most likely not going to enjoy themselves tomorrow morning.

Snow, not only creates heavier traffic but obviously also causes dangerous road conditions. A reminder to be extra cautious and safe while driving. And, if possible..dare we say it…enjoy the official arrival of winter in Toronto.

It always good to have options, isn’t it? Take dinner, for example. You may love Italian food, but what if it were the only type of cuisine available to you? You’d probably get sick of it. It’s always great to know that there are a variety of foods to choose from out there. Who doesn’t want Chinese take-out now and again?

Well, we at Synergy Merchant Services recognize that adding an option to attain extra working capital is a good thing. In fact, it’s a great thing. For years, both business owners and consumers alike have practically been forced to believe that there is only one place to go to get money. The bank.

With our merchant cash advance program, we have introduced to Canadian business owners an option that we sincerely encourage to be weighed against the other options they may have. Our funding specialists often hear our prospective clients reveal that they “have a line of credit” or may simply “go to the bank for money”.

Not only do we expect this to be the case, but we are hopeful that it is, indeed something that our clients have looked into at some point. That way, a knowledgeable business owner will be better equipped to compare our quotes to the situation provided to them by their banks.

Think of it this way. If your car broke down, you could take it to one mechanic to have it repaired. But unless you visit more than one body shop, you will not be able to properly determine what your best options are. Perhaps, one mechanic can offer better service. Meanwhile, the other may offer a better price for the repairs. It becomes incumbent upon the car owner to decide what decision is best for his or her vehicle.

Likewise, we believe that a business owner should weigh all of his or her options. It’s great to know that a line of credit or business loan may be available to you at your local bank. But by getting a free, no obligation quote from Synergy for a merchant cash advance, you may just find that you do not have to resort to your first option.

Of course, our merchant cash advance program operates much differently than a traditional bank loan does. Firstly, no credit check is required. Secondly, no collateral or liens are necessary. And thirdly, we can have a quote prepared for you literally within minutes of your first phone conversation with one of our licensed funding specialists.

The no-hassle process is both quick and easy. Many of our clients cite this initial easier-than-they-expected process as a major reason why they considered a merchant cash advance as an alternate source of funding for their companies.

As always, if you feel that the program is not for you, no problem. But the least you could do is weigh your options to determine what source of funding may be the best for you.

This has been a year fraught with bad news about the national economy. Nearly every day, more stories about job losses and a recession with no end in sight have plagued the country. With the holiday season upon us, it is a sure bet that many Canadians have a more prosperous and financially stable new year at the top of their wish lists.

Today, The Toronto Sun reports that this wish may have already been granted. According to the report, Statistics Canada has revealed that 79,000 jobs were gained in the month of November. These additions have brought the unemployment rate down to 8.5%. After a long drought of not hiring, companies began increasing the size of their staffs last month giving Canada some of its best economic news of the year.

StatsCan notes that the service sector saw the highest rise in jobs, particularly in education. This has taken employment in this sector back to a status not experienced since October 2008. While the significant gain of employment in November is great news, overall employment remains at 1.9% below its peak from a year previous.

The goods sector, for example, remains 324,000 jobs below last year’s level. Manufacturing has especially been hit hard by the recession. Some good news regarding this sector, however, is that the pace of its job losses has been slowing down since March of this year.

The Statistics Canada report also notes that both full-time and part-time employment has increased. According to the article, “full-time jobs were added for the third month in a row, while part-time jobs gained after two months of declines.”

This is most certainly welcome news to Canadians all over the country. With the amount of stress that the recession can put on a person, it is sad to think that many will not even be able to enjoy the holidays the way that they normally would. Recent stats have shown that most citizens intend on spending less on gifts this shopping season.

No telling, however, how many have been so harshly hit by the recession that they will not be able to spend at all. With the increase in jobs right before the holiday season, it is hopeful that the joy of this time of year will not be lost on too many people in this country.

This is hopefully the case as there was no part of the nation that did not experience gains in employment last month. The strongest provinces, by the way, were Ontario, Quebec and Alberta.

Not only did more Canadians gain employment last month than over the rest of the year but hourly wages also increased by 2.3%. While this is considered a low rate of growth from year-to-year, it is a glimmer of hope for many who had no hope prior to November.

Since the early 1990′s when Canada’s Goods and Services Tax (GST) was introduced by the federal government, Canadians have been used to paying two types of taxes on nearly all of their purchases. Combined with the Provincial Sales Tax (PST), these two taxes have drawn the ire of citizens from all over the country who feel as if they are being taxed to death.

The recently devised Harmonized Sales Tax (HST) combines the two taxes making tax collection less of a burden on merchants. Perhaps, the Canadian government is trying to persuade the nation that this will be more convenient for taxpayers as well. Notice the use of the prefix “harmony” in the name of this combined tax? There is the obvious connotation of this being a good thing. So is it?

HST has been the norm is three Atlantic provinces since 1997. Citizens of New Brunswick, Newfoundland and Labrador and Nova Scotia all pay a 13% HST on purchases which combines the 8% PST with the 5% GST. Originally, when HST was introduced in these provinces, it stood at 15% to incorporate the previous rate of 7% for GST.

This fact, may potentially quell the fears of Ontario and British Columbia residents who, today, received the news that HST will take effect in their provinces on July 1, 2010. Some believe that the combined HST may unfairly cost Canadians greater amounts on certain purchases that would not generally charge one of the two taxes.

An article posted on the website of The Toronto Star today reports that “consumer groups in both provinces have railed against the change, since it will expand the range of goods and services subject to provincial sales tax.”

According to Wikipedia.org, certain purchases – namely newspapers and fast food items totaling up to $4 – will have the PST portion of this tax exempted.

Liberal Party leader Michael Ignatieff was quoted today in The Toronto Star as saying that he believes that the HST will bring greater prosperity to the economies of both Ontario and British Columbia.

Says Ignatieff: “The Liberals are certainly speaking with one voice on the HST…We made a tough decision because we believe that provinces, both British Columbia and Ontario, want this legislation. They believe that it will create jobs and employment in those two provinces.”

The Star also notes that Quebec has also already adopted the HST. No word yet on how it has affected the economy in that province.

Nevertheless, on Canada Day next year, both Ontario and B.C. residents will be celebrating by introducing a brand new tax. Time will tell if the Harmonized Sales Tax brings any harmony to either province.

Around the Synergy Merchant Services offices, we have a few favourite phrases that we like to use. We enjoy utilizing these phrases not because they are, by any means, catchy or even original. We love using them, however, because they are completely true to the nature of our innovative merchant cash advance program. Here are a few of Synergy’s favourite things to say:

“The Best Part About Our Program Is…”

Our licensed funding specialists often use this phrase to discuss what literally is, what we believe to be, the greatest aspect about our program. And that is the way our clients pay us back. Now, don’t get us wrong. We don’t just like being paid back because it is how our business actually generates an income. We love the payback method because it is the most convenient method of making payments imaginable.

Nearly every client we have ever developed a relationship with has had the experience of paying back a loan of some kind. Some recall having to make payments on student loans after graduating from their post-secondary institutes. All experiences had identical traits. Payments were expected to be made on a strict monthly basis. Of course, interest accrued on the outstanding balance. Payments were divvied up between interest and principal balance payments, with the latter maintaining priority.

With our merchant cash advance program, our clients are insured that no payment is ever unmanageable. We take great pride in the fact that there is no fixed repayment schedule. With payments being made through a small percentage of a merchant’s credit and debit sales, the payback time is determined by the merchant, not us. We literally only get paid when the merchant makes a sale.

That way, there is no possible way to be late on a payment. In addition, with no accruing interest rate attached to the cash advance, our clients are assured that they will only pay back the exact amount owed with nothing extra attached to the balance. All payments go towards paying off the principal balance as it is the only balance that exists.

“Unlike A Bank…”

This is one of our favourites as well. What truly makes our program an excellent source of alternative funding for businesses is the fact that it operates much differently than a bank loan. In addition, to not having an interest rate or fixed repayment schedule, our funding specialists are only too pleased to also note that “unlike a bank”, no collateral or credit checks are necessary in order for a client to be approved for merchant funding.

Not to mention, securing approval itself can literally take minutes, as opposed to the weeks and sometimes months-long process that securing a bank loan can often entail. There are, of course, a number of other phrases that we use around here that we will touch on in future.

“Congratulations!”

This is, perhaps, our favourite phrase of them all. It is heard by many of our clients who have used our cash advances to create greater successes out of their businesses. We hope to hear from you shortly, so that you may hear this phrase from us as well.

December is here! And the craziest shopping season of the year has accompanied this month, as it does annually. With the holidays soon upon us, it is expected for shopping malls to become crowded madhouses with just about everyone in town scurrying from store to store looking for the perfect gifts.

Even though Canadians have been hit hard with the recession this year, there is still reason to believe that those in the holiday spirit may still be out to spend big bucks on presents. Even when it is not within one’s price range, shoppers often find themselves in a situation where their credit card bills are overly huge by the turn of the year.

Today, the QMI Agency, through an article in the Toronto Sun, warned Canadians to be mindful of their spending during this holiday season. They report that January and February are typically the busiest months for debt collectors…and with good reason. Too often, holiday shoppers rack up bills larger than they can afford. Due to their out-of-control spending of the past, unmanageable debt becomes a big part of their future.

The article offers some advice as to how to manage your holiday spending, especially when using your credit card, so that your bills don’t get too robust. Keeping tabs on your expenditures and making notes of the dollar amounts spent on each gift from each store is a good start.

Laurie Campbell, executive director with Credit Canada had this to say: “I can’t tell you how many times I hear people says they didn’t realize what they were spending…If you are going to use credit, write down every expense. That way when the New Year comes around you are aware where the money went.”

Even with the struggling economy and job losses that have resulted from it, the holiday season is expected to remain the busiest time of year for retailers. Many consumers find it hard to sacrifice getting into the spirit for the benefit of their family and friends. Drowning in debt, however, is never a good way to celebrate this festive season.

The article also notes that recent statistics have shown that bankruptcies in Canada have increased dramatically in recent months. To avoid having these numbers continue to spike, it is highly recommended that planned spending becomes part of your holiday plans.

Says Nancy Marescotti, director card marketing, at BMO Bank of Montreal: “The best way to avoid post-holiday statement shock is to develop a realistic spending plan…Create your plan early in the season before you get too caught up in the excitement of buying gifts.”

Some things to avoid this holiday season include waiting for the last minute to do your shopping (which often leads to “panic buying”) and paying for extended warranties on items you don’t really need.

Shopping can be fun, and the holidays are supposed to be. Be smart. Plan ahead. Budget appropriately. And the joy of the season should last well into the new year.