Payoff merchant cash advance
How can you payoff a merchant cash advance?
If your business is trapped in a merchant cash advance, you can,
“escape my merchant advance” by paying off the balance and terming
it out much longer, from 6 or 9 months, all the way out to 36 months
Call us on Mobile you can tap either Tel # link, 1-919-771-4177, or 1-855-787-1113 and press dial. Or Request to be contacted. Click or Tap Contact-Me
Determine what your balance is. Complete a list of your equipment assets,
which includes Computer, medical, industrial equipment and machinery.
We will approve a loan to payoff your balance and payoff your merchant cash advance
and help you set up a 24, 36 or 48 month repayment term. Even if you only want
to term the balance off to 24 months, this will significantly reduce your monthly payment compared to what your business was paying.
Payoff merchant cash advance
If you took out a $25,000 merchant advance for 6 months you were paying around $248 per day, or $5,457 per month. By terming the financing out to 24 months, you will reduce the monthly payment to $1,562 per month, which is only 28% of what you were paying. If you go out 36 months, you will reduce your payment to $1,083 per month, 19.8% of the amount you were paying. This difference will make a dramatic positive influence on your cash flow.
June 16th, 2016 – for immediate release. Detroit, MI – Peninsula Fabrication needed to get out of 3 merchant cash advances they took out. As they said themselves, they needed to
“payoff merchant cash advance”. it was too much per month to handle. They said they
“cannot handle merchant advance payment”. Customers like this need help from merchant cash advance payments.
February 18, 2016, Baltimore, MD. Chesapeake Landscaping took 3 short term Merchant Cash advances and consolidated them into 1 longer term loan. The total balance of the advances was $75,000. The 3 were consolidated into 1 loan and the term was extended for another 7 months. CEO Landry Matthews told the Baltimore Business Journal, “Consolidation of these Merchant Cash Advances has been very positive financially for our business. We took the advances to handle urgent needs at the time. However, it put us into cash flow difficulties after that. This consolidation program allowed our business to reduce the daily and monthly repayment by almost 50%. This improvement lets us take a more aggressive marketing campaign into the spring of 2016. We can now dramatically increase our marketing budget, hire employees and add some new inventory items. We look forward to a strong increase in sales in 2016 and further penetration in the Maryland market.”
09/25/2015 – Kansas City, KS. Mid States Landscaping uses $80,000 to payoff merchant cash advance. Mr. John Baxter, President stated, “With this loan, we were able to payoff 2 merchant cash advances. We were also able to extend the term of the debt from 6 and 9 month terms to 36 months. This has taken major pressure off of our monthly cash flow and is allowing us to use the extra capital for other critical needs. We expect to be able to expand much more rapidly in the next two years because of our ability to use our funds in more revenue generating ways.”
08/27/2015 – North Wisconsin Contracting pays of two merchant cash advances with one loan. North Wisconsin contracting had 1 merchant cash advance for $25,000 and another for $10,000. They had 2 months left on the repayment but could not handle the monthly payments any longer. They took out a $50,000 loan with a term of 48 months. $35,000 was used to payoff the 2 cash advances and $15,000 was used for equipment repair. President Bob Keller said “This consolidation and cash out help our cash flow significantly. We also were able to repair on of our Skid Steers which we will need for the fall season.” The improved monthly cash flow will let us compete for more jobs in the fall by having additional employees.”
If you are a business owner that took out a short term cash advance and are saying any of the following things or questions below, contact us today to get cash flow relief.
Callers will say they need to get out of a merchant advance to help payoff a merchant cash advance. Other callers say they need to escape a business cash advance. Many businesses will admit they can’t handle our business cash advance. They will specifically say: We are trapped in a merchant cash advance. The message is always similar in that business owners tell us they are trapped in a merchant advance.
You will only need to complete a short 1 page Mini app and provide an equipment list which can be completed online. The approval process takes 1 – 3 business days. If you are approved, the closing documents may be E-Mailed to you or completed online. You complete them and return the completed documents via fax. A verbal verification call is completed with you and you receive funding within 1 to 2 business days afterwards.
For other resources such as writing a business plan, you can contact the SBA.