2M7 Featured as a Leading Merchant Cash Advance Provider in the 2022 Canada FinTech Lending Study

If you have set some big goals in your life, then you may wonder how to keep yourself motivated. The good news is that there are a number of proven ways to keep yourself focused and energized to reach the goals that matter the most to you. Here’s a look at five proven ways to keep yourself motivated and reach your goals.

1) Clearly define your goals

The first thing that you need to do is clearly define your goals. Saying, “I want a successful business,” or “I want to be rich.” is not motivating enough. You need to give your mind specific goals that can give it focus. For instance, if you want to have a successful business, define the business (Ex. I want to generate $1 million in annual sales with my cupcake business). If you want to become wealthy, set a specific dollar amount at a specific date (ex. I want to have $3 million in my bank account by January 1, 2030). This will allow you to have the focus and direction that you need to stay motivated and on track to your goal.

2) Choose goals that motivate you

On the path to reaching your goal, you will encounter roadblocks that will challenge your will to continue. The one thing that will get you passed those roadblocks are goals that matter to you. Therefore, you need to choose goals that will motivate you during hard times. What matters to you? Is losing weight really important or reaching a certain financial goal? Choose goals that you are willing to suffer and endure to accomplish.

3) Plot your progress

The most worthwhile goals will be long-term goals. Therefore, you need some motivation to keep you going. A great way to keep you on the road to your goal is to track your progress. For instance, if you are looking to lose weight, then keep track of the weight that you have already lost. This will give you the energy and the drive to keep going.

4) Set up checkpoints for your goal

Instead of having one big goal, create mini-goals that give you a sense of accomplishment more often. For instance, if your goal is for your business to have $1 million in annual sales, then set up goals to reach $100,000 in sales every 35 days. This will allow you to have a short-term focus that can motivate you to keep going.

5) Visualize your goals

Finally, you will want to visualize how your world will look when you finally accomplish your goal. Set aside 15 to 30 minutes a day to visualize your life after completing your goal. Create that feeling of happiness and content that you intend to feel. That positive energy will give you the drive to keep going.

Helping You Get to Your Goals

Reaching your goals can become a challenge. When your business needs a little edge, contact 2M7 Financial Solutions. We can provide your business with a merchant cash advance when you need it. Contact us today to learn more.

Cannabis has been legalized in Canada since 2019, and since the legalization, the consumption of marijuana has skyrocketed to the extent that setting up a cannabis business in the country is guaranteed to be a profitable investment. There’s never been a better time to move into the industry. However, if you’re a cannabis enthusiast that wants to make a move into this industry, the first thing you’re probably concerned about is the working capital to start the business. Business loans in Canada are a big part of the entrepreneurial world, however, getting funding for a cannabis business is easier said than done. So, how can you get funds for your future company? If this is a question that you’re asking, you’re at just the right place. Here are a few funding options from sources that will happily lend you money.

Bank Loan

Banks are obviously the first option whenever we think about anything money/loan-related. But cannabis, banks, and business loans in Canada are three things that don’t blend well together. Most mainstream banks will refuse to work with cannabis companies. However, if you can find the right bank, there’s potential to get your hands on a large stack of cash for your cannabis company at reasonable interest rates. There’s a lot of room for customizing payment plans as well, so you can pay back the money on your terms. You’ll have to find a relatively smaller bank that has lenient policies for where they invest their money. But even those banks are strict with their requirements for loans and will check to make sure you don’t have bad credit. The banks will not approve a loan if there’s any signs of problems in your credit and financial history.

Business Line of Credit

A business line of credit is another underrated option when it comes to getting funds for a cannabis business. It’s a simple process that provides your business with a revolving credit limit. It’s very similar to a credit card, but interest rates are significantly lower. You can withdraw a certain amount of money that you need and will have the option to pay it back in the form of monthly balances and partial payments. You’ll have the added benefit that the interest will only be charged for the outstanding balance of your card, making it a viable option for business loans in Canada. This is a good option for some quick funding when you need to pay the utility bills, fund inventory refilling, pay salaries, and more. However, you’re not going to get a large amount of money with a business line of credit. You’re going to be limited to a certain amount of money, depending on your credit limit. If you’re looking for funds to start your company, a business line of credit is not a good idea. If you need a small amount of money for occasional expenses, this is a great option.

Merchant Cash Advance

A merchant cash advance is, by far, the best way a cannabis business can secure funding. It’s a system where you pay today’s bills with tomorrow’s money. Your MCA provider will hand over a flat sum of cash directly into your account, and you’ll only have to return a certain percentage of your sales every month until the entire amount is covered. This is a flexible option for businesses that aren’t certain of what their sales volume will be each month. For example, if you have $0 in generated revenue for December, you won’t have to pay back anything to your MCA provider. That’s the major benefit of MCA and why it’s such a great idea for an industry like cannabis. Where Can You Get a Merchant Cash Advance? So, now that you know what an MCA is let’s talk about where you can get it. 2M7 Financial solutions is a Canadian merchant cash advance provider that has been helping small businesses like yours get over the funding limitations and compete with your top competitors. The best part about working with 2M7 is that we give funds to companies that banks and other lenders are saying no to. Here’s a breakdown of why 2M7 is the company that should fund your business:

• Quick Process – We work fast! If you signed up for an MCA in the morning, you could have the money in your account by the end of the day.
• Ignoring Bad Credit – Unlike banks, 2M7 doesn’t rely on credit scores as a factor to decide who gets funding and who doesn’t. If you have bad credit, you are still eligible for an MCA.
• Multi-Use Funding – Businesses have tons of miscellaneous costs, and we get that. That's why the money you get from 2M7 can be used for any business purpose you choose.

Conclusion

A merchant cash advance is the best way to secure capital for your company. So, if you are looking for a Canada-based provider to help you out, get in touch with the funding experts and discover how this alternative financing option can help your business.

And The Winner Is...

The results are in. This year’s winner of the 2M7 Forward Thinkers Scholarship is Claire O’Brien. As a member of The University of British Columbia’s Sauder School of Business, Claire was able to overcome stiff competition in this year’s contest. To do so, Claire not only demonstrated a strong performance in her academic journey thus far, but also clearly  communicated a keen interest to harness the knowledge she acquired to this point, to succeed in the world of business as she moves toward her professional goals. Claire exhibited the enthusiasm, and aptitude that 2M7 Financial Solutions’ CEO, Avi Bernstein was looking to reward, and intended to encourage with the creation of this scholarship opportunity.

“Each year, university students face multiple challenges in their pursuit of their academic goals; and these stretch far beyond the classroom. Post-secondary schooling is extremely expensive and places a significant financial burden on those who attend, which can potentially negatively impact the studies of these students as they see to the financial obligations that arise with school funding. That is why I made it one of my goals to help lessen this burden: these students have enough “on their plate”; I want them to focus on what they are paying to study not on how they are going to pay for it. Claire’s essay not only exhibited her potential for business success, but also showed me a character that the 2M7 team strives to promote when we do business. Congratulations, Claire.

The 2M7 Forward Thinkers Scholarship is an annual scholarship that is available for post-secondary students studying in a business related field; and offers the winner a reward of $2,500 so they can better manage the expenses of their schooling. This year we had another strong applicant pool; and we encourage those not selected this year, to re-apply during next year’s contest, for their chance to get a generous amount of financial assistance. We at 2M7 would like to thank all those who participated in this year’s contest; and we wish all those that did decide to vie for this scholarship all the best in their future endeavours.