If you have a Merchant Cash Advance, you are not alone…it’s estimated that nearly 1 million small businesses in America have had a cash advance. The quick access to cash and the ease of getting funded is a major reason why businesses take a cash advance. During the fast payback period, businesses can feel the pressure of lower cash on hand. Why consider defaulting if you can’t afford the payments? A Reverse Consolidation will lower payments and extend the term.
The number 1 complaint we have heard over the past 10 years of working with cash advance clients is that their payment size is ALWAYS too high and at too fast of a payback. This is because the funder wants their principle (and baked in interest) back as quickly as possible so that they can use your payments to fund other businesses. So, as you pay back your advance quickly, your principal and interest payments are going to fund other clients. This quantifies the amount of money a funder will make.
The quick payback principle is less about what your business will qualify for, but more to do with the Merchant Cash Advance Industry as a whole. There are NO funders who will extend terms more than 18 months. If any broker is promising you this, they are hoping to pull a ‘bait and switch’ on you.
Whether you are on a weekly or daily payback, we can give you the money for your MCA payments. All you will need to do is pay us back at a much more reasonable payback term and amount. Even if you have multiple cash advances, we will fund your business on a weekly basis for each payment that will be debited from your account. We will charge you a MUCH smaller payment. This means that you will experience cash flow relief. Also, with this strategy, you will not default on your obligations.
Save your business cash flow and apply today to check out your lower payment to cover ALL your MCA payments. We extend the term and help businesses get out of the MCA borrowing cycle.