Payoff merchant advance is a thought that comes to mind for many businesses owners that are stuck in a merchant cash advance.
Payoff the balance and term it out much longer, from 6 or 9 months, all the way out to 36 months or longer.
Determine what your balance is. Complete a list of your equipment assets, which includes Computer, medical, industrial equipment and machinery. There are multiple choices available. In some cases, we can take the existing term and extend it to 12, 18 or 24 months. Another excellent option is to use existing equipment assets for a 24, 36, or 48 month term.
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.
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.
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 are E-Mailed to you. 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.
Escape the merchant cash advance now and call us today at Toll Free: 855-787-1113 or 919-771-4177 and we will assist your business in correcting this highly restrictive negative to your business cash flow.