Small Business Loans Depot http://www.smallbusinessloansdepot.com Your source for alternative funding Sat, 24 Jun 2017 15:24:21 +0000 en-US hourly 1 https://wordpress.org/?v=4.8 Closing stipulations http://www.smallbusinessloansdepot.com/articles/closing-stipulations/ Sat, 24 Jun 2017 14:52:10 +0000 http://www.smallbusinessloansdepot.com/?p=11247 Definition of closing stipulations June 24, 2017. What are Closing stipulations? Items that are required to finalize a transaction.  These may be for any type of transaction or contract.   They are frequently required for loan, lease and Real Estate purchase Contracts. Examples of Closing Stipulations. 1. Copy of current driver’s license. 2. Copy of … Continue reading Closing stipulations

The post Closing stipulations appeared first on Small Business Loans Depot.

]]>
Definition of closing stipulations

June 24, 2017.

What are Closing stipulations?

Items that are required to finalize a transaction.  These may be for any type of transaction or contract.   They are frequently required for loan, lease and Real Estate purchase Contracts.
Examples of Closing Stipulations.

1. Copy of current driver’s license.
2. Copy of Business License.
3. Copy of voided business check.
4. Bank Verification such as DecisionLogic, Join me, or direct Login info.
4.  Proof of Insurance.  This may be:
A. Proof of Business Insurance.
B. Proof of Insurance on an Asset.
5. Proof of Income.   This may also be proof of business income.
6. Landlord Contact information.
7.  Proof of Ownership of the business.
8.   Most recent year business tax return.
9.  Proof of payoff letter from another lender.
10.   Payoff letter from another lender.

If you cannot provide items required to complete a Contract such as
a business loan and need another option, click on the link below.   We can
provide financing options without the many Stipulations required by others.

Complete the Secure 15 Second App, or Full App.
Or Call us at Tel:  1-919-771-4177, or Send E-Mail

Did you know?

Many customers cannot provide all required closing stipulations.   What do you do if you cannot provide all the required items?

What are closing Stipulations?
Loan Stipulations for closing transactions such as Business Loans, business contracts and Real Estate Transactions

The best answer is to call the Lender and discuss.   Explain why you cannot provide what they are asking for.   Ask if there are substitute items you can provide in place of what they are asking for.    Required items can sometimes be negotiated or waived.

Examples of negotiating or waiving closing stipulations

For example, a closing stipulation may be last years tax return but you do not have  last years tax return due to filing an extension.    Request providing proof of filing an extension instead.   Another option is also to request waiver of the tax return altogether.

Providing Proof of Ownership.   For proof of ownership, K-1’s from a Tax return are usually listed in the Stipulations.   However, instead of a K-1, Articles of Incorporation showing shareholder ownership percentage may be accepted.  Another option is providing a Copy of a business license with the Owners name on it.

Frequent request for assistance has been by those stating the following situations:
– “Do not have the closing stipulations”.
-“Need a business loan without closing Stipulations”.
– “No closing stipulations”.

Learn more about Closing Stipulations.

Recent examples from the Web:

Changes in Stipulations and requirements from Brexit fallout.

Including a long list of many other types of  stipulations.

The post Closing stipulations appeared first on Small Business Loans Depot.

]]>
Business loan with no tax returns? http://www.smallbusinessloansdepot.com/articles/how-to-get-a-business-loan-with-no-tax-returns/ Sun, 11 Jun 2017 20:28:04 +0000 http://www.smallbusinessloansdepot.com/?p=11221 Need to get a business loan but cannot provide business tax returns? Sometimes Lenders will approve you for a Business loan but then want to get a business tax return before closing.   They may not scrutinize the return but will not close the business loan with no tax returns.  The Lenders are making sure … Continue reading Business loan with no tax returns?

The post Business loan with no tax returns? appeared first on Small Business Loans Depot.

]]>
Need to get a business loan but cannot provide business tax returns?

Sometimes Lenders will approve you for a Business loan but then want to get a business tax return before closing.   They may not scrutinize the return but will not close the business loan with no tax returns.  The Lenders are making sure the business is not delinquent in filing returns.

Example of what to do if you need to get a business loan with no tax returns.

A business applies for a loan and is approved.   However, the Lender requires the most recent tax return or 2 years tax returns.   If you are a new business, or have filed an extension, your business cannot provide this information.

If your business cannot provide Tax Returns, then:
Before applying, ask if Business Tax Returns will be required.  If so, apply for a business loan product that does not require returns.   Click on the 15 second app for business loans that do not require a business tax return.

Business Loan with no Tax Returns
Want a business loan but do not have Tax returns?
Choose these options

Complete the Secure 15 Second App, or Full App.
Or Call us at Tel:  1-919-771-4177, or Send E-Mail

Lenders will not scrutinize the returns even if they require them.   They will not review Gross and Net Profit, Business Tax Write Offs and other parts of the return.  However, if they ask for a return, you have to provide it.

Business owners are often afraid to provide a return because they show a net loss.  What can you do?  Apply for programs that do not require business returns.   Ask the lender in advance how closely the return will be scrutinized.  Many loan programs will just get the return to verify it has been filed.

The request for returns are also part of  “closing stipulations”.    Other items that are usually required for closing stipulations include a copy of current driver’s license, in addition to a clear copy of voided business check,  copy of business license.

Frequently asked questions, requests and also statements.

1.   “I need a business loan without tax returns.”
2.  “Looking for a business loan with no tax returns.”
3.  Need a no tax return business loan.
4.  Cannot provide tax return for business loan.
5. I don’t have any tax returns for my business yet.
6.  Filed an extension on my tax returns.   What do I do?

Business loan with no tax returns?

Bookmark our resource page.

The post Business loan with no tax returns? appeared first on Small Business Loans Depot.

]]>
What is subordination of debt? http://www.smallbusinessloansdepot.com/articles/what-is-subordination-of-debt/ Wed, 31 May 2017 00:08:48 +0000 http://www.smallbusinessloansdepot.com/?p=11165 What is subordination of debt? When a lender agrees to the subordination of debt of one of their existing customers to another lender.   This puts them secondary and behind in the lien position to the company they are agreeing to subordinate their customer to. Example of subordinating debt: A business applies for a loan … Continue reading What is subordination of debt?

The post What is subordination of debt? appeared first on Small Business Loans Depot.

]]>
What is subordination of debt?

When a lender agrees to the subordination of debt of one of their existing customers to another lender.   This puts them secondary and behind in the lien position to the company they are agreeing to subordinate their customer to.

Example of subordinating debt:

A business applies for a loan but the lender cannot close the loan because a different lender already has a lien on the same assets of the borrower.

The subordination of debt issue has become even more of a hurdle when customers have one or more Merchant Cash Advances and tries to get a different type of loan.

Accounts receivables lenders and many other lenders have issues closing their financing due to existing Merchant Cash Advances.   A Merchant Cash Advance provider may already have a blanket lien on all furniture, fixtures and receivables on the customer’s UCC listing.

This means that the new Lender as well as any other Lender cannot put a lien against the receivables.  They must ask that Lender to subordinate rights to the receivables to them.   For Funding that does not require you to subordinate debt, contact us below and get started.  
Complete the Secure 15 Second App, or Full App.
Or Call us at Tel:  1-919-771-4177, or Send E-Mail

What is subordination of debt?
Subordination of Debt

The lender that subordinates gives up their rights to that specific Collateral.   Why would a Lender be willing to give up rights to Collateral?
It is usually because the Lender took all of their customer’s Collateral for their Loan.  They did not need all of the Collateral and is really not interested in all the Collateral.
They took all of it because it was available and the customer did not object or say no.

A Lender that takes a lien on all of a Company’s assets would only try to liquidate certain Collateral if the customer defaulted.   As a result, they are often willing to give up rights to Collateral they never would have gone after anyway.

For more information on subordination of debt, visit resources such as the SBA.

The post What is subordination of debt? appeared first on Small Business Loans Depot.

]]>
Fast and easy same day business loan http://www.smallbusinessloansdepot.com/articles/fast-and-easy-same-day-business-loan/ Sun, 07 May 2017 20:59:21 +0000 http://www.smallbusinessloansdepot.com/?p=10821 June 11, 2017.  Get a fast and easy same day business loan.   Online Business Loans.   Decisions in minutes.   If approved, you can also get funding the same day.  Contact us today. Super fast and easy same day business loans. Complete the Secure 15 Second App, or Full App. Or Call us at … Continue reading Fast and easy same day business loan

The post Fast and easy same day business loan appeared first on Small Business Loans Depot.

]]>
June 11, 2017.  Get a fast and easy same day business loan.   Online Business Loans.   Decisions in minutes.   If approved, you can also get funding the same day.  Contact us today.
Super fast and easy same day business loans.
Complete the Secure 15 Second App, or Full App.
Or Call us at Tel:  1-919-771-4177, or Send E-Mail

FAQ’s: Frequently asked Questions, and also comments in addition to requests in the
last 30 days.
– “I need to get a business loan today”
– “I need a fast and easy business loan today”
– “Need to get a business loan without a lot of paperwork”
–  We need Emergency cash flow immediately for our business.   Our business has run out of Cash.   We need a fast cash infusion into our business.    We need funds to keep from going out of business and losing our livelihood.

Fast and easy same day business loan
Same day business loans fast and easy

Benefits:

How long will it take to get funding?
If Approved your business may get funding same day.   Some cases will take longer
on a case by case basis, the State you are in and also the details of your company
profile.

How long is the term?
Terms up to 10 years.   In addition, you can pay the loan back as soon as 3 months and receive early prepayment benefit in many cases.    Approvals and offers may also be for shorter terms as well.  Terms as short as 60 to 180 days are available.

Is there a Pre-Payment benefit?
Outstanding Pre-payment benefit on many offers.   Pre-pay the funding after only 3 months with no penalty.   Low total repayments and also early payback are also additional benefits.

These are the most frequent requests.    Our program specializes in helping your business if it needs immediate funding.   Sometimes businesses run into an immediate need due to an emergency.   So if your business has an emergency, we are here to help you.

Don’t spend another day with SBA Loans and regular bank loans.   Get funding super fast for your business and also no long list of requirements to close.   Super fast responses to your request in addition to fast business loan approvals and funding.

Representatives service the following cities in the Western Region and can be contacted.

Alaska, Hawaii and California

In Anaheim, CA and Anchorage, AK. Bakersfield, CA and also in Carlsbad, CA. Chula Vista and also Fontana, CA. Fremont, CA and in Fresno, CA. Hayward, CA and Honolulu HI.  Irvine, CA and in Madera, CA. Modesto, CA and also Merced, CA.  Oakland, CA and in Ontario, CA. Oxnard, CA and Riverside, CA. Roseville, CA and in San Francisco, CA. San Jose, CA and also San Diego, CA. Santa Ana, CA and in Santa Clara, CA. Santa Rosa, CA and Sacramento, CA. Salinas, CA and in San Bernardino, CA. In Santa Barbara, CA and also Santa Maria, CA. Sunnyvale, CA and in Stockton, CA. Thousand Oaks, CA and Vallejo, CA. Ventura, CA and also in Visalia, CA.

West Region:

Representatives in the following cities may also be contacted:

Nevada, Oregon and Washington:

In Bellevue, Washington and Eugene, OR. Everett, WA and in Henderson, NV.  Kent, Washington in addition to Las Vegas, NV.  Olympia, WA and also Portland.  Reno, NV and Seattle, WA. Olympia, WA and in Paradise, NV.  Portland, OR in Renton, Washington.   Salem, OR and in Seattle, WA.  Sparks, NV as well as Spokane, WA. Tacoma, WA, Vancouver, Washington and Yakima, Washington.

Arizona and Utah:

Albuquerque, AZ and Avondale, AZ.  Chandler, AZ and in Flagstaff, AZ.  Gilbert, AZ and in Glendale, AZ.  Goodyear, AZ and also Mesa, AZ. Nogales, AZ as well as Ogden, UT.  Phoenix, AZ and in Peoria, AZ.  Provo, UT and Scottsdale, AZ. Salt Lake City, UT and also Scottsdale, AZ.  Surprise, AZ and aslo in Tempe, Arizona.  Tucson, AZ, Yuma, AZ and San Tan Valley, AZ.

Colorado, Idaho, Montana, New Mexico and Wyoming:

In Albuquerque, NM, Aurora, CO.  Boise, ID and in Cheyenne, WY.  Colorado Springs, CO as well as Denver, CO.  Helena, MT and Lakewood, CO as well as Santa Fe, NM.

South Region:  

Consultants in the following cities can be called to schedule a same day appointment
or call: 

Kentucky, Virginia, Washington, D.C., and West Virginia: In Alexandria, VA and Arlington, VA. Chesapeake, VA and in Hampton, VA.  Huntington, WV and also in Kenner, VA and Lexington, KY. Louisville, KY as well as Lynchburg, Virginia.  Newport News, VA and in Norfolk, VA.  Petersburg, VA and also in Portsmouth, Virginia.  Richmond, VA and Roanoke, Virginia.  In Suffolk, Virginia and also Virginia Beach, VA.

North Carolina, South Carolina:

In Anderson, SC and Asheville, NC.  Cary, North Carolina and also in Chapel Hill, NC. Charleston, SC and in Charlotte, NC. Chattanooga, TN as well as Columbia, SC. Concord, NC and Davidson, TN. Dunn, NC, Durham, NC and Fayetteville, NC. Franklin, TN, Gastonia, NC. as also in Greensboro, NC. Greenville, SC,  Henderson, NC as well as Hickory, NC. High Point, NC, Kingsport, TN and Knoxville, TN.  In Maudlin, SC, Memphis, TN and also Morristown, TN. Murfreesboro, TN, Myrtle Beach, SC and Nashville, TN.  North Charleston, South Carolina as well as Raleigh, NC. Sanford, NC, Lenoir City, TN and in Shelbyville, TN. Spartanburg, SC, Wilmington, North Carolina and Winston-Salem, NC.

Florida:

In Cape Coral, FL, Clearwater, FL and Daytona Beach, FL. In Jupiter, FL, Fort Myers, FL as well as Ft. Lauderdale, FL. Hialeah, FL, Jacksonville, FL and Lakeland, FL.  Melbourne, FL, Miami, FL and Ocala, FL.  Pensacola, FL, Kissimmee, FL as well as Naples, FL. Orlando, FL, Ormond Beach, FL and also in Palatka, FL.   In Palm Bay, FL, Pensacola, FL and also Port St. Lucie, FL. Saint Petersburg, FL, Sanford, FL and Tallahassee, FL. In Tampa, FL, West Palm Beach, FL as well as Winter Haven, FL.

Alabama, Georgia, and Mississippi:

In Atlanta, GA, Augusta, GA and Birmingham, AL.  Gulfport, MS, Hoover, AL and also Huntsville, AL. Jackson, MS, Mobile, AL as well as Montgomery, AL. Savannah, GA,  St. Mary’s GA and also in Talladega, AL.

Arkansas and Louisiana:

In Baton Rouge, LA and Fayetteville, AR.  Forrest City, AR,  Lafayette, LA and Little Rock, AR. Metairie, LA and New Orleans, Louisiana. Baton Rouge, Louisiana, Shreveport, Louisiana and also Lafayette, Louisiana.

Oklahoma and Texas:

In Arlington, TX and Austin, TX.  Bartlesville, OK, Beaumont, TX and in Corpus Christi, TX. Dallas, TX, Edinburg, TX and in El Paso, TX.  Ft. Worth, TX, Houston, TX as well as Killeen, TX. Lafayette, LA, Mission, TX and Muskogee, OK.  Oklahoma City, OK, McAllen, TX and also in New Braunfels, TX.  Round Rock, TX, San Antonio, TX, as well as Shawnee, OK.  Sugarland, TX, and The Woodlands, TX as well as Tulsa, OK.

Midwest Region:
Representatives in the following Midwest cities can be contacted:

Illinois, Indiana, Wisconsin:

In Anderson, IN, Carmel, IN, and Aurora, Illinois.  Chicago, Illinois, Elgin, Illinois as well as Rockford, Illinois.  Joliet, Illinois, Lee’s Summit, Missouri and in Naperville, Illinois.  Springfield,  Illinois,  Peoria, Illinois and also in Elgin, Illinois.  Waukegan, Illinois, Cicero Town, Illinois as well as Champaign, Illinois.  Bloomington, Illinois, Decatur, Illinois and Eau Claire, WI.  Fort Wayne, IN, Gary, IN and in Indianapolis, IN.  Madison, WI, Milwaukee, WI and Naperville, IL.  Green Bay, Wisconsin, Kenosha, Wisconsin, and Peoria, IL.  Racine, WI, Springfield, IL and also Waukesha, WI.

Michigan and Ohio:

In Akron, OH, Ann Arbor, MI and Canton, OH.  Cincinnati, OH, Cleveland, OH and also Columbus, OH.  Dayton, OH, Dearborn, MI and in Detroit, MI.  Flint, MI, Grand Rapids, MI as well as Marion, OH. Maysville, OH, Muskegon, MI and Parma, Ohio.  Toledo, OH, Wilmington, OH, Wyoming, MI and also  Youngstown, OH.

Kansas, Nebraska, North Dakota and South Dakota:

In Council Bluffs, NE and Kansas City, MO.  Lawrence, KS, Omaha, NE as well as Wichita, KS.

Iowa, Minnesota, and Missouri:

In Bloomington, MN and Columbia, MO. Davenport, IA, and also Des Moines, IA.  Duluth, MN and also Independence, Missouri.  Kansas City, Missouri and Minneapolis, MN. Overland Park, MO as well as Rochester, Minnesota.  Springfield, MO, St. Charles, MO as well as St. Joseph, MO.   Springfield, Missouri and St. Louis, Missouri.  St. Paul, Minnesota and St. Cloud, MN.

Northeast Region:

New York:

In Albany, NY,  Batavia, NY and Buffalo, NY.  Cheektowaga, NY, New York City, NY as well as Niagara Falls, NY.  Rochester, NY, Schenectady, NY, Seneca Falls, NY and Syracuse, NY.

Maine, Vermont, New Hampshire and Massachusetts:

In Bangor, ME and Boston, MA. Burlington, VT, Cambridge, MA and Concord, NH. Montpelier, VT, Newton, MA as well as Portland, ME.  Providence, MA and Springfield, MA. In Warwick, MA as well as Worcester, MA.

Pennsylvania, Maryland and Delaware:

In Allentown, PA and Baltimore, MD.  Bethlehem, PA, Columbia, MD and Dover, DE. Harrisburg, PA, Lancaster, PA and in Lansing, MI.  Lebanon, PA, Manchester, PA as well as New Castle, PA.  Philadelphia, PA, Pittsburgh, PA and also Reading, PA. In Salisbury, MD, Scranton, PA and Towson, MD.  In Weirton, PA, Wilmington, DE and also in York, PA.

Connecticut, New Jersey and Rhode Island:

In Bridgeport, CT and Camden, NJ.  Hartford, CT, Jersey City, NJ as well as Milford, CT.  New Haven, CT,  New London, CT and Newark, NJ.  Norwalk, CT and Norwich, CT.  Providence, RI, Stamford, CT and also in Trenton, NJ.

Thank your for visiting our fast and easy same day business loan page.  Because the success of your business is our goal

The post Fast and easy same day business loan appeared first on Small Business Loans Depot.

]]>
Declined for time Time in business http://www.smallbusinessloansdepot.com/articles/declined-for-time-in-business/ Thu, 20 Apr 2017 00:47:37 +0000 http://www.smallbusinessloansdepot.com/?p=10780 June 11, 2017.  Has your business been declined for Time in Business?  If so, you want to find alternative business loan solutions. We have business loan options for businesses that have been in business as little as 3 months.    Contact us today by using the contact information below. Many loan programs require businesses to … Continue reading Declined for time Time in business

The post Declined for time Time in business appeared first on Small Business Loans Depot.

]]>
June 11, 2017.  Has your business been declined for Time in Business?  If so, you want to find alternative business loan solutions.

We have business loan options for businesses that have been in business as little
as 3 months.    Contact us today by using the contact information below.

Many loan programs require businesses to be in business for at least 1 year before financing will even be considered.   Some programs require 2 years time in business at a minimum.   Traditional Banks require between 2 or 3 years time in business in addition
to Tax Returns and Financial statements.   We only require 3 months.  Start below.

Complete the Secure 15 Second App, or Full App.
Or Call us at Tel:  1-919-771-4177, or Send E-Mail

3 Month Time in business programs

With our 3 Month time in business program your business can get money in as little as two days. Provide the most recent (3) months business checking account statements and a one page application and you can be on your way to funding within 2 business days.

1 Year time in business Program.

To get more funding, another funding program options is our 1 year time in business program.

Declined for Time in Business
How time in Business affects your Business Loan request

Frequently asked Questions, FAQ’s, comments and requests:

– I was declined for Time in Business being too short. I need help.
We can help put you into a program that turns a decline into an approval and also fund your business within 2 days.

– How can I find out how long I have been in business?   What do you look at for time in business?
The time in business is how long your business has been listed with the Secretary of State in your State.  As a result, check your Secretary of State business listing in order to find  your time in business.

– I have been in business longer than the lender says.   How can I prove my time in business?
Prove your time in business through one of several ways.   Your Articles of Incorporation as well as your business license prove time in business.   Another accepted proof of time in business is also business bank statements.

– What is TIB?
TIB stands for time in business.

Thank you for visiting our Time in Business resource page.   Questions and answers will be added as customers call in.

The post Declined for time Time in business appeared first on Small Business Loans Depot.

]]>
What is a COJ Certificate of Judgement? http://www.smallbusinessloansdepot.com/articles/what-is-a-coj-certificate-of-judgement/ Fri, 14 Apr 2017 16:53:43 +0000 http://www.smallbusinessloansdepot.com/?p=10644 What is a COJ Certificate of judgement? June 11, 2017.  A COJ Certificate of Judgement is a legal document Lenders can use to take quick and easy legal action against their customer. When the Merchant Cash Advance company declares a default, a completed COJ Certificate of Judgement allows MCA companies to easily take legal action … Continue reading What is a COJ Certificate of Judgement?

The post What is a COJ Certificate of Judgement? appeared first on Small Business Loans Depot.

]]>
What is a COJ Certificate of judgement?

June 11, 2017.  A COJ Certificate of Judgement is a legal document Lenders can use to take quick and easy legal action against their customer.

When the Merchant Cash Advance company declares a default, a completed COJ Certificate of Judgement allows MCA companies to easily take legal action against a merchant.  This usually happens without traditional court proceedings or a trial.  The Merchant has already providing a notarized signature authorizing the Merchant Cash Advance company to get a default judgement or summary default judgement against them.

What are your options ?
Get a MCA Merchant Cash Advance or business loan without a COJ Certificate of Judgment. We have business loan programs that DO NOT require a COJ, including Merchant Cash Advance programs.    Apply now, below to get this type of financing.
Complete the Secure 15 Second App, or Full App.
Or Call us at Tel:  1-919-771-4177, or Send E-Mail

Request

What is a COJ Certificate of Judgement?
What is a COJ Certificate of Judgement?

FAQ, Frequently asked Questions, comments and different ways to stop, get out of, and deal with the COJ Certificate of Judgement process

How can I stop or get help to get me get out of a COJ Certificate of Judgement proceeding?

If you feel a Lender is about to take action against you, you can contact the Lender to try to come to a last minute agreement on a repayment plan or settlement.
This shows the lender that you are still trying to work with them and reduce their losses.   The lender may still decide to negotiate with you and agree to a workout solution.

Should I close a loan if the lender is asking for a COJ Certificate of Judgement?
First decide what is the likelihood of your defaulting.    If you feel there may be too much of a chance of your having cash flow problems, try to obtain a business loan that does not require this.   Apply with us above.

Should I worry that the lender will take action against me when they have a Certificate of Judgement?
It depends on the Company you are dealing with and your cash flow situation.  Most Funders or Lenders normally do not follow through and take court action with the COJ Certificate of Judgement unless the customer intentionally and actively does one or more of the following:
1) Does not communicate with the Funder or Lender, such as avoiding calls and not reply to correspondences.
2) The merchant makes no effort to make payment arrangements, settlements, or
come to some agreement with the Lender.
3) The Merchant stops payment on their daily advance causing the daily Merchant Cash
Advance payment to not be paid and rejected.
4) The Merchant closes their business checking account and the daily Merchant Cash
advance payment bounces and is rejected.
– The Merchant disappears or vanishes.

More FAQ’s Frequently asked COJ Certificate of Judgement Questions:

What can a lender do to me with a Certificate of judgement?
The lender can get a court that day to automatically request and receive a default judgement.   Once they receive this, they can contact your Banks and have available funds debited to pay your debt with them.
Read the Certificate closely.   Clearly understand under what circumstances the COJ Certificate of Judgement allows the Lender to take Court action against your business.

Can the Merchant Cash Advance company shut down my business and shut my doors?
In practice no.  While there may be language in the contracts that states they can do this,
this is rarely done in practice.   If the Merchant is making a good faith effort to payoff the debt or even come to a workout solution, this will rarely happen.  Even rarer will be for the lender to come to the physical location and attempt to lock the doors.   This can be challenged.

How can I get a MCA Merchant Cash Advance or business loan without a COJ Certificate of Judgement?
Contact us above today.    We offer many business loans that do not require this.

How can I protect myself against a COJ?
Get a business loan or merchant cash advance that does not require a COJ Certificate of Judgement.   In addition, you can ask a Lender if it is required when you first apply.

If your business is behind on a Merchant cash advance, try to work with the lenders as much as possible on a workout solution.   When you work with the lenders as much as possible, their tendency is much more to not exercise a COJ Certificate of Judgement.

Third party options involving a COJ Certificate of Judgement

We are of the opinion your business should not hire or contract with a Debt Settlement relief Company.   Lenders do not like these arrangements.   Their contract is with your business, not a 3rd party.

Can I get an attorney to take Court action to get me out of a COJ Certificate of Judgement?
This will be difficult.   If your business has defaulted and the Funder has declared a default, there may be little that can be done quickly.    You can seek counsel quickly to determine your options and if legal intervention on your part is still possible and makes sense.   There may be Bankruptcy relief options as a last resort although workout solutions are usually a better and less drastic action.

I am not signing a COJ Certificate of Judgement.
You do not have to sign it.   You can look for a lending program that does not require this.
We offer multiple programs without a COJ.

How do I know the Lender won’t take action against me anytime once they have a COJ Certificate of Judgement?
If you have not defaulted, then action on the Lender’s part should not be expected.

Click below to find out about Alternative Loans to a Merchant Cash Advance.

Representatives service the following cities in the Western Region and can be contacted.

Alaska, Hawaii and California

In Anaheim, CA and Anchorage, AK. Bakersfield, CA and also in Carlsbad, CA. Chula Vista and also Fontana, CA. Fremont, CA and in Fresno, CA. Hayward, CA and Honolulu HI.  Irvine, CA and in Madera, CA. Modesto, CA and also Merced, CA.  Oakland, CA and in Ontario, CA. Oxnard, CA and Riverside, CA. Roseville, CA and in San Francisco, CA. San Jose, CA and also San Diego, CA. Santa Ana, CA and in Santa Clara, CA. Santa Rosa, CA and Sacramento, CA. Salinas, CA and in San Bernardino, CA. In Santa Barbara, CA and also Santa Maria, CA. Sunnyvale, CA and in Stockton, CA. Thousand Oaks, CA and Vallejo, CA. Ventura, CA and also in Visalia, CA.

West Region:

Representatives in the following cities may also be contacted:

Nevada, Oregon and Washington:

In Bellevue, Washington and Eugene, OR. Everett, WA and in Henderson, NV.  Kent, Washington in addition to Las Vegas, NV.  Olympia, WA and also Portland.  Reno, NV and Seattle, WA. Olympia, WA and in Paradise, NV.  Portland, OR in Renton, Washington.   Salem, OR and in Seattle, WA.  Sparks, NV as well as Spokane, WA. Tacoma, WA, Vancouver, Washington and Yakima, Washington.

Arizona and Utah:

Albuquerque, AZ and Avondale, AZ.  Chandler, AZ and in Flagstaff, AZ.  Gilbert, AZ and in Glendale, AZ.  Goodyear, AZ and also Mesa, AZ. Nogales, AZ as well as Ogden, UT.  Phoenix, AZ and in Peoria, AZ.  Provo, UT and Scottsdale, AZ. Salt Lake City, UT and also Scottsdale, AZ.  Surprise, AZ and aslo in Tempe, Arizona.  Tucson, AZ, Yuma, AZ and San Tan Valley, AZ.

Colorado, Idaho, Montana, New Mexico and Wyoming:

In Albuquerque, NM, Aurora, CO.  Boise, ID and in Cheyenne, WY.  Colorado Springs, CO as well as Denver, CO.  Helena, MT and Lakewood, CO as well as Santa Fe, NM.

South Region:  

Consultants in the following cities can be called to schedule a same day appointment
or call: 

Kentucky, Virginia, Washington, D.C., and West Virginia: In Alexandria, VA and Arlington, VA. Chesapeake, VA and in Hampton, VA.  Huntington, WV and also in Kenner, VA and Lexington, KY. Louisville, KY as well as Lynchburg, Virginia.  Newport News, VA and in Norfolk, VA.  Petersburg, VA and also in Portsmouth, Virginia.  Richmond, VA and Roanoke, Virginia.  In Suffolk, Virginia and also Virginia Beach, VA.

North Carolina, South Carolina:

In Anderson, SC and Asheville, NC.  Cary, North Carolina and also in Chapel Hill, NC. Charleston, SC and in Charlotte, NC. Chattanooga, TN as well as Columbia, SC. Concord, NC and Davidson, TN. Dunn, NC, Durham, NC and Fayetteville, NC. Franklin, TN, Gastonia, NC. as also in Greensboro, NC. Greenville, SC,  Henderson, NC as well as Hickory, NC. High Point, NC, Kingsport, TN and Knoxville, TN.  In Maudlin, SC, Memphis, TN and also Morristown, TN. Murfreesboro, TN, Myrtle Beach, SC and Nashville, TN.  North Charleston, South Carolina as well as Raleigh, NC. Sanford, NC, Lenoir City, TN and in Shelbyville, TN. Spartanburg, SC, Wilmington, North Carolina and Winston-Salem, NC.

Florida:

In Cape Coral, FL, Clearwater, FL and Daytona Beach, FL. In Jupiter, FL, Fort Myers, FL as well as Ft. Lauderdale, FL. Hialeah, FL, Jacksonville, FL and Lakeland, FL.  Melbourne, FL, Miami, FL and Ocala, FL.  Pensacola, FL, Kissimmee, FL as well as Naples, FL. Orlando, FL, Ormond Beach, FL and also in Palatka, FL.   In Palm Bay, FL, Pensacola, FL and also Port St. Lucie, FL. Saint Petersburg, FL, Sanford, FL and Tallahassee, FL. In Tampa, FL, West Palm Beach, FL as well as Winter Haven, FL.

Alabama, Georgia, and Mississippi:

In Atlanta, GA, Augusta, GA and Birmingham, AL.  Gulfport, MS, Hoover, AL and also Huntsville, AL. Jackson, MS, Mobile, AL as well as Montgomery, AL. Savannah, GA,  St. Mary’s GA and also in Talladega, AL.

Arkansas and Louisiana:

In Baton Rouge, LA and Fayetteville, AR.  Forrest City, AR,  Lafayette, LA and Little Rock, AR. Metairie, LA and New Orleans, Louisiana. Baton Rouge, Louisiana, Shreveport, Louisiana and also Lafayette, Louisiana.

Oklahoma and Texas:

In Arlington, TX and Austin, TX.  Bartlesville, OK, Beaumont, TX and in Corpus Christi, TX. Dallas, TX, Edinburg, TX and in El Paso, TX.  Ft. Worth, TX, Houston, TX as well as Killeen, TX. Lafayette, LA, Mission, TX and Muskogee, OK.  Oklahoma City, OK, McAllen, TX and also in New Braunfels, TX.  Round Rock, TX, San Antonio, TX, as well as Shawnee, OK.  Sugarland, TX, and The Woodlands, TX as well as Tulsa, OK.

Midwest Region:
Representatives in the following Midwest cities can be contacted:

Illinois, Indiana, Wisconsin:

In Anderson, IN, Carmel, IN, and Aurora, Illinois.  Chicago, Illinois, Elgin, Illinois as well as Rockford, Illinois.  Joliet, Illinois, Lee’s Summit, Missouri and in Naperville, Illinois.  Springfield,  Illinois,  Peoria, Illinois and also in Elgin, Illinois.  Waukegan, Illinois, Cicero Town, Illinois as well as Champaign, Illinois.  Bloomington, Illinois, Decatur, Illinois and Eau Claire, WI.  Fort Wayne, IN, Gary, IN and in Indianapolis, IN.  Madison, WI, Milwaukee, WI and Naperville, IL.  Green Bay, Wisconsin, Kenosha, Wisconsin, and Peoria, IL.  Racine, WI, Springfield, IL and also Waukesha, WI.

Michigan and Ohio:

In Akron, OH, Ann Arbor, MI and Canton, OH.  Cincinnati, OH, Cleveland, OH and also Columbus, OH.  Dayton, OH, Dearborn, MI and in Detroit, MI.  Flint, MI, Grand Rapids, MI as well as Marion, OH. Maysville, OH, Muskegon, MI and Parma, Ohio.  Toledo, OH, Wilmington, OH, Wyoming, MI and also  Youngstown, OH.

Kansas, Nebraska, North Dakota and South Dakota:

In Council Bluffs, NE and Kansas City, MO.  Lawrence, KS, Omaha, NE as well as Wichita, KS.

Iowa, Minnesota, and Missouri:

In Bloomington, MN and Columbia, MO. Davenport, IA, and also Des Moines, IA.  Duluth, MN and also Independence, Missouri.  Kansas City, Missouri and Minneapolis, MN. Overland Park, MO as well as Rochester, Minnesota.  Springfield, MO, St. Charles, MO as well as St. Joseph, MO.   Springfield, Missouri and St. Louis, Missouri.  St. Paul, Minnesota and St. Cloud, MN.

Northeast Region:

New York:

In Albany, NY,  Batavia, NY and Buffalo, NY.  Cheektowaga, NY, New York City, NY as well as Niagara Falls, NY.  Rochester, NY, Schenectady, NY, Seneca Falls, NY and Syracuse, NY.

Maine, Vermont, New Hampshire and Massachusetts:

In Bangor, ME and Boston, MA. Burlington, VT, Cambridge, MA and Concord, NH. Montpelier, VT, Newton, MA as well as Portland, ME.  Providence, MA and Springfield, MA. In Warwick, MA as well as Worcester, MA.

Pennsylvania, Maryland and Delaware:

In Allentown, PA and Baltimore, MD.  Bethlehem, PA, Columbia, MD and Dover, DE. Harrisburg, PA, Lancaster, PA and in Lansing, MI.  Lebanon, PA, Manchester, PA as well as New Castle, PA.  Philadelphia, PA, Pittsburgh, PA and also Reading, PA. In Salisbury, MD, Scranton, PA and Towson, MD.  In Weirton, PA, Wilmington, DE and also in York, PA.

Connecticut, New Jersey and Rhode Island:

In Bridgeport, CT and Camden, NJ.  Hartford, CT, Jersey City, NJ as well as Milford, CT.  New Haven, CT,  New London, CT and Newark, NJ.  Norwalk, CT and Norwich, CT.  Providence, RI, Stamford, CT and also in Trenton, NJ.

Thank you for visiting or information resource!

The post What is a COJ Certificate of Judgement? appeared first on Small Business Loans Depot.

]]>
10 Most common Reasons businesses want a business loan http://www.smallbusinessloansdepot.com/articles/10-most-common-reasons-businesses-want-a-business-loan/ Mon, 27 Mar 2017 23:31:15 +0000 http://www.smallbusinessloansdepot.com/?p=10092 June 11, 2017.  For immediate Release – Businesses want money for many reasons.   This post will look at the 10 most common reasons businesses want a business loan and some of the best programs for them.  If your business needs a loan for any reason, complete the application information below. Complete the Secure 15 … Continue reading 10 Most common Reasons businesses want a business loan

The post 10 Most common Reasons businesses want a business loan appeared first on Small Business Loans Depot.

]]>
June 11, 2017.  For immediate Release – Businesses want money for many reasons.   This post will look at the 10 most common reasons businesses want a business loan and some of the best programs for them.  If your business needs a loan for any reason, complete the application information below.
Complete the Secure 15 Second App, or Full App.
Or Call us at Tel:  1-919-771-4177, or Send E-Mail

10 Most common reasons businesses want a business loan

1) My business is running out of money.

Very often, businesses do not need money for a specific reason.   They just are running out of cash.   Seasonal businesses often have this problem.  Sometimes revenues do not meet business expectations while expenses remained fixed.   The business may have run into problems and needs money to correct or resolve the problem.

2) I need a business loan for expansion.

One of the top reasons businesses need a business loan is for expansion.   There are many reasons for expansion.  In most cases, a successful business wants to take advantage of business opportunities but needs more money to do it.

3) I need a business loan for Inventory and raw materials.

Businesses call in and make the request, “I need a business loan for inventory”,

as well as, “I need a business loan for supplies”.

4) I need a business loan to hire Employees.

Another reason businesses often need capital is for the initial expense of hiring employees.  This often includes the cost of expanding the workspace, buying furniture and also the cost of recruiting, interviewing and adding employees to the employee rolls.

5) I need a business loan for taxes.

Customers frequently make the request, “I need a loan to pay business taxes”.
Many businesses need a loan to pay taxes.  This is often
for current taxes, previous taxes as well as IRS payment agreements.
Next 5 most common reasons businesses want a business loan

6)  I need money for Equipment, Equipment Repairs or Vehicles.

Businesses often call in with the request, “I need a business loan for
equipment”, as well as “I need a business loan for equipment repairs”.   This would
be considered a loan against equipment.

7) I need a business loan for Marketing and Advertising.

Companies frequently need a business loan for Adverting and Marketing.  Advertising is more critical for certain industries than others.   Industries that need advertising, such as media companies, retail and online businesses have to spend significant funds on
advertising.

10 Most common reasons businesses want a business loan
The most common reasons businesses want a business loan.

8) I need a business loan to buyout my Partner.

Businesses will often request a business loan to buy out another partner.   Multiple owners are no longer able to get along well enough to continue running the business together.   Callers will call in saying:  “I need a business loan to buyout a partner owner.”

9) I need a business loan to buy my Building and Real Estate.

When businesses become larger, they not not want to keep leasing space.    Landlords may also suddenly raise the rent.    Callers most frequent requests are: “I need a business loan to buy a building and property”, or “I need a business loan to buy my building.”  For this
purpose, callers say they need an asset based loan.

10) I need a business loan for insurance.

Businesses may need to pay for several types of business insurance.
Liability insurance, employee insurance and property insurance are some of the types of insurance businesses must by.    Callers will also call in and say: “I need a loan for business insurance”, as well as “I need a loan for business health insurance.”

Thank you for visiting our list of the 10 most common reasons businesses want a business loan.

The post 10 Most common Reasons businesses want a business loan appeared first on Small Business Loans Depot.

]]>
10 Uncommon reasons for needing a business loan http://www.smallbusinessloansdepot.com/articles/10-uncommon-reasons-for-needing-a-business-loan/ Sun, 12 Mar 2017 18:14:23 +0000 http://www.smallbusinessloansdepot.com/?p=10098 June 11, 2017.  Business loan requests are sometimes for unusual reasons.   We will review 10 uncommon reasons for needing a business loan.    If your business needs funding for any uncommon reason, contact us.  Complete the Online Application.  Contact us at the number below. Complete the Secure 15 Second App, or Full App. Or … Continue reading 10 Uncommon reasons for needing a business loan

The post 10 Uncommon reasons for needing a business loan appeared first on Small Business Loans Depot.

]]>

June 11, 2017.  Business loan requests are sometimes for unusual reasons.   We will review 10 uncommon reasons for needing a business loan.    If your business needs funding for any uncommon reason, contact us.  Complete the Online Application.  Contact us at the number below.
Complete the Secure 15 Second App, or Full App.
Or Call us at Tel:  1-919-771-4177, or Send E-Mail

10 Uncommon reasons for needing a business loan:

Natural Disasters, floods, fires

Losses due to natural disasters are probably the most expensive for businesses. Businesses need money after being hit by a natural disaster.  This can be Tornadoes, hurricanes, floods, fires, drought, wildfire, hail, blizzards, oil spills and extreme winters. Businesses may need working capital to cover the cash shortfall because of disasters like these.   FEMA helps many business owners, yet is either too slow for some businesses or cannot help at all.

My business is being sued.

If a business is being sued, it may need money to hire an Attorney and go through the litigation process.   Expenses can be $10,000 and as much as hundreds of thousands of dollars.  There are different types of lawsuits that a business may be sued for that they need funds to defend.

Other types of lawsuits businesses face:

A) Being sued for Malpractice.

Businesses in the Healthcare field are usually the primary targets of malpractice lawsuits they need money for.   Other industries sued for Malpractice include Accountants, Consultants, Construction Companies, Retail Businesses and businesses that need a professional license.   A business may need a loan or money to pay for Malpractice or a Malpractice lawsuit.

B) Business being sued for not fulfilling contract

Businesses are sometimes sued if their contract is not completed correctly. This happens in the Construction industry, and many other industries also.   Many companies need money or a business loan to fulfill a Contract.

C) Business being sued for Copyright infringement

Businesses can be sued for many types of alleged copyright violations.  Copyright lawsuits happen often in the music and entertainment industry.   Trademark disputes,  intellectual property lawsuits and others are the basis of suits.   Businesses need money or a business loan for Copyright infringement lawsuits.

Need money to relocate business

Business relocation requires significant funding.   The bigger the business,  the more relocation will cost.   Relocating is a big expense for any business.   Many businesses need money or a business loan to relocate.

Partner Buyouts or Owner Buyouts.

Businesses often have more than one owner.   Sometimes multiple owners do not get along and one or more Partners want to leave.   Because of this, a buyout of the Partner or buyout of an owner may be needed.   A business owner may need money or a business loan to buyout another partner as a result.

We need a business loan to meet new City, State or Federal regulations.

City, State and Federal Regulations change over time.  Businesses sometimes have considerable cost to comply with regulations.  A company may need a business loan to meet new regulations.

10 Uncommon reasons for needing a business loan
Uncommon reasons for needing a business loan

 

 

 

 

 

 

The last 5 of 10 uncommon reasons for needing a business loan below:

Need a business loan for training and licensing requirements.

Business may have to provide training to all of their employees or meet new licensing requirements.    A business loan will probably also be needed for updated licensing and training.   City and State offices also have information on licensing and training requirements.

Theft

Theft causes sudden losses.  Companies need a business loan to recover from customer theft, employee theft,  shrinkage, and also loss of inventory.    A business loan and also a line of credit covers businesses from lost cash flow.

Major Accounting Errors

Businesses have cash flow problems because of mistakes made by Accountants as well as Bookkeepers.
Math errors are probably less frequent mistakes.  Accountants also incorrectly take deductions and file the wrong type of Return.   They may not tell the business owner to increase their estimated quarterly payments either.   These errors cause a higher tax liability.   The business then needs to get a business loan to pay more taxes because of Accounting Errors.  Your Accountant can provide Quarterly reviews to avoid cash flow hardships.

City Infrastructure Repairs.

Cities, Counties and States do extensive street and road repairs.  This also includes Sewer work, pipes and cement work.   States make Bridge and Highway repairs that also affect traffic exits and main roads.  Retail stores are also affected by these County or State Road repairs.  Retail stores located on a main road with major construction work are also devastated.  Businesses therefore need a business loan to also makeup for a loss of Sales and lower cash flow.

Need a business loan to hire overseas technical workers.

Industries cannot find all of the workers they need domestically, so as a result, they must also hire workers from other countries.  Technical fields are another industry that also has difficulty hiring skilled workers.  Hiring workers from overseas is a big expense.  Therefore, companies may need a business loan to pay for the cost of hiring overseas workers.

Thank you for visiting this resource.  Visit 10 uncommon reasons for needing a business loan in the future for especially relevant information on unique loan requests.   Contact us for your business loan needs.

The post 10 Uncommon reasons for needing a business loan appeared first on Small Business Loans Depot.

]]>
The best Merchant Cash Advance Consolidation Programs http://www.smallbusinessloansdepot.com/articles/best-merchant-cash-advance-consolidation-programs/ Wed, 01 Mar 2017 17:12:21 +0000 http://www.smallbusinessloansdepot.com/?p=9936 The best Merchant Cash Advance Consolidation Programs June 11, 2017.  Many businesses have short term daily or weekly repayment advances, known as Merchant Cash Advances.   The repayment on these advances are short term, usually between 2 and 18 months.   Some businesses have several advances with daily debits at the same time.  This is causing … Continue reading The best Merchant Cash Advance Consolidation Programs

The post The best Merchant Cash Advance Consolidation Programs appeared first on Small Business Loans Depot.

]]>
The best Merchant Cash Advance Consolidation Programs

June 11, 2017.  Many businesses have short term daily or weekly repayment advances, known as Merchant Cash Advances.   The repayment on these advances are short term, usually between 2 and 18 months.   Some businesses have several advances with daily debits at the same time.  This is causing significant cash flow problems for many businesses.  The following is an overview of how the best Merchant Cash Advance Consolidation Programs work.  There are also cash relief options as well as some less desirable options.
Complete the Secure 15 Second App, or Full App.
Or Call us at Tel:  1-919-771-4177, or Send E-Mail

Consolidation programs are being offered by some alternative funders to improve or rescue businesses from cash flow emergencies.  Getting this help is sometimes the difference between the life and death of some businesses.
Beware:  Some Merchant Cash Advance Companies are advertising Merchant Cash Advance Consolidations when they really end up only offering you another advance.

If you need a real Merchant Cash Advance Consolidation & not another advance, discuss this with the lender upfront.     Some companies use this lure to simply offer another advance.    It depends on the company.   Some Companies will try to consolidate, but you may not qualify.    If your business has 3 advance, your business may not qualify for a consolidation of all 3, but may qualify for a Consolidation of 2 of the 3 Advances.   The Advance with the best terms can be left in place the the other 2 advances may be Consolidated.   They are paid off, the term is extended and the Merchant’s daily payment is lowered.

However, beware of companies that advertise a Consolidation which could be a bait and switch to giving you another advance.    Try to determine if they are really trying to Consolidate, or making no effort to Consolidate and just want to sell another advance.

There generally are 4 basic types and approaches of  MCA Merchant Cash Advance Consolidations.   This includes cash flow relief and debt settlement company options.

Merchant Cash Advance Consolidation Type 1:

This approach is a true effort to reduce the daily payments business merchants have to make.   The Consolidation or “relief”  lender covers the payment of the Merchant’s existing advances by depositing the weekly total of their daily payments into the Merchant’s business checking account once per week.   The consolidation lender then debits a lesser daily amount than the daily total of the Merchant’s other advances.   This reduced daily repayment for the Consolidation is normally between 20% and 50% lower than what the Merchant is currently paying.

The repayment of the lower amount usually continues for a few months longer than the remaining time the merchant is scheduled to pay the existing advances.   The Consolidation lender reduces the daily payments for the Merchant by extending the term of the debt.   This arrangement gives businesses cash flow relief.  For this type of financing, complete the contact information below.

The following is an Example of how this 1st type of Consolidation works:

Acme, Inc. has 3 daily repayment Merchant Cash advances.   Each has a balance of $25,000 and will continue for 20 more weeks.    The daily payment on each is $250 for a total daily payment of $750.    This equals $3,750 per week and $15,000 per Month on average.
For this type of cash flow relief type Consolidation, the payments are usually reduced in the 25% to 50% range.   Let’s assume a 50% reduction is offered.   The lender will be referred to as the Consolidation lender.

The Consolidation lender deposits $3,750 once per week into the Merchant’s account. The Merchant then begins repaying the Consolidation lender $375 per day instead of $750.  This saves the Merchant $375 per day, $1,875 per week and $7,500 per Month.   The Merchant continues paying 40 more weeks.

The benefit to the Merchant is that they have improved their monthly cash flow by $7,500 per Month.

The best Merchant Cash Advance Consolidation Programs
The best Merchant Cash Advance Consolidation Programs.

Merchant Cash Advance Consolidation Type 2:

The second type of Merchant Cash Advance Consolidation is less common.  It is a true Consolidation.  The business Merchant provides the Consolidator the total payoff balances of all of their existing advances.   The Consolidator verifies the payoff and then pays off the existing advances.  The Merchant then begins to repay only the remaining one Consolidation debt.  The Merchant also pays the Consolidation lender for a longer period of time.   This allows the Consolidation payment to be lower than what the Merchant had before.

The following is an Example of how this Type 2 approach works:

Acme, Inc. has 3 daily repayment Merchant Cash advances.   Each has a balance of $25,000 and will continue for 20 more weeks.    The daily payment on each is $250 for a total daily payment of $750.    This equals $3,750 per week and $15,000 per Month.
In this type of cash flow relief Consolidation, the Consolidation lender pays off each Merchant Cash Advance for a total of $75,000.   The Merchant then begins paying the Consolidation company.  The amount and terms of the repayment are lower,  as in the 1st Example of $375 per day.   The term is now 20 weeks instead of 40.

Merchant Cash Advance Debt Restructuring Type 3:

In this case, a Merchant has several merchant cash advances and is having trouble repaying them. The Merchant either cannot qualify for the weekly cash flow reduction and Consolidation program, or wants a different option.

The Merchant still must have cash flow relief.    In this method,  the Merchant contacts their existing MCA Merchant Cash Advance lenders directly.  The Merchant tells the Merchant Advance companies that they soon will not be able to continue paying the daily payments. They need a pause or reduction in the daily payment, or both.  Some Merchant Advance companies are more receptive to this request than others.   Each request will be considered on a case by case basis and the final decision will be at the discretion of the lender.

It is important for the Merchant to make a strong case for a reduction or pause in payments.   They cannot be too demanding but they must give strong reasons.  The Merchant Cash Advance lender must know the Merchant truly has short term cash flow issues it won’t survive.   By addressing the problem now, the Merchant and Merchant Advance company both win.  The Merchant can be put in a position to repay the remaining advance,  and the Merchant Advance company will can be repaid.  If an agreement cannot be reached, the Merchant will miss payments or default.

Merchant Cash Advance Debt Restructuring or Consolidation, Type 4:

Debt Restructuring companies or options can be considered the last and most dangerous for Merchants.  This should only be considered if the Merchant cannot get a Consolidation program and is not able to renegotiate better sustainable repayment terms with their existing advance companies.

In most cases the Advance companies will work with the Merchant as much as possible to reach a workable solution.    If that does not happen, the Merchant may be forced to consider remaining alternatives.

There are a few final options:

Type 4A:

The Merchant has talked with their Merchant advance companies and could not come to an agreement to reduce or pause payments enough.   They determine they cannot continue to make the payments much longer.   The Merchant can hire a business Attorney to negotiate a settlement or reduced payments with the Advance companies on their behalf.

Type 4B:

The Merchant contracts with a 3rd party Debt Settlement company.  This option may be the least desirable of all the options because debt settlement companies may take actions that are not in the Merchant’s or Merchant Cash Advance company’s interest.

A Debt Settlement relief company often tells the Merchant they will get the daily payments to stop and tells the Merchant to sign a contract for them to negotiate with the Merchant Advance Companies.   The Merchant is often told to begin paying the 3rd party debt settlement relief company instead.   They may tell also tell them to close the business checking account from which the daily payments are being debited and open a new account at another bank to pay them.   This is almost always a major mistake and may cause both the Merchant and Merchant Advance companies the worst problems.

Debt Settlement Relief Company Pitfalls

These scenarios may cause several major problems for the Merchant.   The Merchant cash advance contracts are always between the Merchant and the advance companies, not the Debt Settlement companies.   The MCA companies are under no obligation to talk to or agree to anything the debt settlement companies are asking for.   Knowing this, some debt settlement companies call the Merchant Cash Advance companies, tell them their customer cannot repay and the Merchant Cash Advance company better accept a very low settlement amount rather than get nothing.   The Merchant may have begun making payments to the debt settlement company and may still not be much better off than they were before, if at all.

What is a Certificate of Judgement?

The Merchant cash advance company may have a COJ, certificate of judgement.   If the Merchant closes their business checking account from which the daily payment is debited, it often considered an immediate default per the contract.   The Advance company may be able to get a Court judgement within  1 to 2 days.

This judgement is used to debit funds from any account the Merchant has with any bank.
The Debt Settlement company should be concerned with this.   They may only be concerned about the contract they have with the Merchant to pay them now.   The debt settlement company may provide little or no assistance to the Merchant to deal with these consequences.   Payments are made to the debt settlement company in the short term leading up to the Merchant being hit with severe actions by their existing Merchant Advance companies.

With some of this information, consumers whose businesses have Merchant Cash Advances may be able to better determine the best Merchant Cash Advance Consolidation programs or cash relief programs they should choose. Merchants should do further investigation on their own.   Each situation and contract may be different and call for different decisions and actions.

 

The post The best Merchant Cash Advance Consolidation Programs appeared first on Small Business Loans Depot.

]]>
Alternatives to Merchant Cash Advance http://www.smallbusinessloansdepot.com/articles/alternatives-to-merchant-cash-advance/ Tue, 14 Feb 2017 19:51:18 +0000 http://www.smallbusinessloansdepot.com/?p=9410 Alternatives to Merchant Cash Advance June 23, 2017.  There are several types of business loans that are alternatives to Merchant Cash Advance and ACH bank loan.  Many businesses can qualify for these other options.  Call us for several other options to the daily and weekly repayment merchant cash advance loan. Complete the Secure 15 Second … Continue reading Alternatives to Merchant Cash Advance

The post Alternatives to Merchant Cash Advance appeared first on Small Business Loans Depot.

]]>
Alternatives to Merchant Cash Advance

June 23, 2017.  There are several types of business loans that are alternatives to Merchant Cash Advance and ACH bank loan.  Many businesses can qualify for these other options.  Call us for several other options to the daily and weekly repayment merchant cash advance loan.
Complete the Secure 15 Second App, or Full App.
Or Call us at Tel:  1-919-771-4177, or Send E-Mail

Consolidation programs are being offered by some alternative funders to improve or rescue businesses from cash flow emergencies.  Getting this help is sometimes the difference between the life and death of some businesses.
Consolidation programs are being offered by some alternative funders to improve or rescue businesses from cash flow emergencies.  Getting this help is sometimes the difference between the life and death of some businesses.

What are alternatives to the Merchant Cash Advance loan and ACH daily repayment loans?

Businesses may qualify for several options that are not daily repayment loans as well as weekly repayment loans.   They include Factoring,  Real Estate backed loans, Business Lines of credit,  and an asset based loan.

Most frequent Requests and calls include the following:
We want another option to the merchant cash advance.  Other calls include:
“I need another loan instead of the Merchant Cash Advance”
“I don’t want a daily repayment loan”, or “no daily repayment”,
as well as “I don’t want a merchant cash advance”.   Many callers
will just say they “want a monthly payment loan”

Other options than the Merchant Cash Advance

Other loans besides MCA Merchant Cash Advance:
Monthly Repayment Business Loans.
Accounts Receivables financing
There are significant benefits to the Accounts Receivables financing, also known as
factoring.   The  biggest benefit may be that it is not a loan.   Another big advantage is
that they are not really an advance of future receivables.  Your business is
not getting money now in advance of money it will earn in the future.
In fact, it is the opposite.

With Factoring, your business gets money that
it already earned and is owed for a relatively small fee, between 1.5% and 5%.   There
is no daily or weekly payment, since your business is getting money that
is due to it.
Asset based loans, asset based business loans or a loan against equipment.
These loans are almost all monthly repayment loans and normally begin
with terms starting at 12 months to 60 months.   Some have even longer terms, especially if they include Real Estate.
Real Estate backed loans
As mentioned above, Real Estate backed asset backed business loans will be monthly payment loans, not daily or weekly repayment loans.

Get a different business loan than the Merchant Cash Advance MCA or ACH business loan

Businesses that have been denied by a lender for an MCA Merchant Cash Advance may have to get a business loan another way.   Consider one of the options above.   You can call
one of the representatives to discuss the options.   Call us at Tel: 919-771-4177 and a representative will be glad to discuss which options may be best for your business.

Thank you for visiting our alternatives to merchant cash advance page!

 

 

The post Alternatives to Merchant Cash Advance appeared first on Small Business Loans Depot.

]]>