Restarting daily payments: 3 ways to handle it

Is your cash advance company restarting your daily or weekly mca payments but you still cannot pay them?   Your business may need weeks, even months for sales to recover from the virus lockdown and make the payments.    Consider 3 ways to make the payments and avoid defaulting, further below. 

Complete the application below to:

    • Extend the terms by refinancing
    • Consolidate your advances
    • Payoff the advances

Solve restarted mca payments-Secure Docusign Or Call Tel: 919-771-4177

restarting daily payments
Is your mca cash advance company restarting your daily payments? Top 4 options if you cannot repay

Restarting daily payments: How to make it work

1. Extend the terms and refinance the contract:

Tell your cash advance company that you need more time for your sales to recover.     Ask if they will refinance the existing mca contract and extend the terms.   Calculate in advance the highest payment you can afford and ask if they can extend the contact to match those payments.  Provide data and documentation to support your request. This can include recent bank statements and a current budget such as a profit & loss statement.  Include your specific calculations showing the maximum payments you can make. Call the advance company, provide your supporting documentation and make your request.

For example: Your regular daily payments of $100 per day for the remaining 50 days of the contract are being debited again.  The remaining payments still total  $5,000.   After looking at your current and estimated future cash flow, you calculate that you can afford $60 per day for that contract.   That equals about 83 payments.   Ask if you can extend the term of that contract from 50 days to 83 days and tell them you feel you can handle a $60 daily payment. If they will not, contact or apply with us above. We will help you get through this process.

If you have more than one cash advance, then do the same calculations for the other contract(s).    First calculate the total of daily cash advance payments you can make.    Then you can figure out the maximum daily payment you can make for each contract .

2. Consolidate your advances

You can consolidate multiple advances with one loan. This helps you because the new loan will be a longer term than the advances you have now.  Most have a term at least 50%, and up to 100% longer than the current advances.  A condition written into the contract does not allow your business to take any more new debt without permission.

Consolidators take this condition seriously. Taking new loans violates the terms and puts you in default. It is then up to the lender to enforce a payoff demand of your contract.

A variation is known as a reverse consolidation. This is easier to be approved for and could improve your cash flow from cash advances by 25% to 50%.

3. Payoff the advances that have started debiting

Paying off the existing advances usually is the best way, but also the hardest way. A payoff happens by using a longer term asset based program to payoff existing advances. Borrowers that qualify for 24 months or more improve their monthly cash flow as much as 75% or more every month. They also get a weekly or monthly payment.

For example: Your business has a cash advance originally for $50,000 that was paused. The current balance is $15,000 and the mca company is going to restart the payments. Regular payments are $550 per day. You have 27 payments left but still cannot make them. It will take your business at least another 2 to 3 months for sales to get close to normal.

With the current payments, you have about 5 weeks left in contract. If you can pay the contract off with a 24 months asset based loan, then your monthly payments are $792 per month = $37 per business day.  $37 % $550 = 7%.  You have reduced and improved your debt on the cash advance by approximately 93%.!   Your monthly outflow on this debt went from $11,500 down to $792.  

FAQ: Frequently asked Questions on restarting daily payments:

Can the cash advance company restart my daily payments even though I can prove my sales have not recovered?

They can restart your daily payments even if your sales need much longer to recover. Calculate what you can pay per day and propose a current and increasing payment to them as sales continue to increase.

What can I do if the mca advance company won’t negotiate a payment I think I can handle?

Consider a consolidation of multiple advances or a refinance buyout of one of the advances. Another option is a payoff with an assed based longer term product which may be 12 to 24 months or longer and have a monthly payment.

What is the best way to get the mca advance company to work with me in taking the full payments out of my account again?

Tell them what is the most you can pay and give them reasons why. Give them data and documentation to back up what you say. This can include the most recent 3 months bank statements, a month to date statement, interim profit and loss, and balance sheet statements. Calculate and itemize your business income and expenses to prove your claim of the maximum daily payment you can make now.

Three times the daily payment: What is it? Tips on how to handle it

Three times the daily payment

The lender says you need two to three times the daily payment to close a business loan.   What does that mean?  

Your business needs three times the daily payment.  A daily payment of $150 requires $450 to be in the business account at closing.  How do you close this loan when you do not have the funds?  Our funding experts will guide you through the process.

Complete the application below or contact us.   Our hands-on representatives will get your business through this problem, avoid a decline, and get funding now. 

Get Funding now with 3 times daily payment experts – Secure Docusign
Or Call us at Tel:  1-919-771-4177

Example of needing three times the daily payment to get funding

Road Runner Roofing receives a $50,000 merchant cash advance offer.  The daily payment is $200 per day.  Just before closing, the advance company does a standard bank account verification check.  One of the items reviewed is the current balance, and Road Runner roofing has $400 in the account.   The cash advance company declines the loan.  They have $200 less than the $600 the lender wants.  What should they do?. Contact us now at Tel: 919-771-4177

So what else is the lender is looking for?   The lender looks at excessive recent overdrafts, low balances,  and low average balances.  Recent negative balances lasting more than a day or two are also a problem.  Take another look at these other cash flow trouble spots.  They can bring funding to a stop immediately and permanently.

Three times the daily payment
Three times the daily payment: How to make sure you have it and get your deal done.

FAQ: Frequently asked Questions:

What is three times the daily payment?
Take the daily payment your business has to pay and multiply it times 3.
A daily payment of $250 would require a balance of $750 at closing to avoid issues.
Will we be declined for having less money in the account at closing than what is required?
Funding may still happen, but the account balance  is compared to the amount desired. Your recent balances, average daily balances and any overdrafts and nsf’s will also be reviewed
I don’t have that amount in the business account now. What should I do?
Wait until you can make a deposit to meet the amount required for the lender to fund the loan. If that will take too long, then call the lender and tell them how much you have in your account. Ask them if that is enough before the closing department does the account verification. Transferring money from another account is an option.

In conclusion:

You should be aware of the importance of how much money is in your business checking account while applying for a business loan.

As discussed, if your balances are too low, your business may get declined at the last minute, just before closing. Once you are declined, it is difficult to have the decline decision reversed. Make sure you know what account balances the lenders want to see!

Declined for a small business loan for recent low sales?

Declined for a small business loan because recent sales have been low?  Are the low March, April and May sales months and bank statements keeping your business from getting funding?  Many businesses are being declined for this right now.

There is a fix!  Choose from several small business loans  your business can get with revenue drops as much as 75%!    Complete the secure application below.

Small Business Loan with low recent sales – Secure Docusign Or Call us at Tel:  1-919-771-4177

Low recent business sales
Have your business sales been low in the last few months?

Many businesses have had low or no sales in the last few months because of the Covid-19  lockdown.   Their many challenges include not being able to get financing.

Save your valuable time.   Don’t spend weeks racking up hours and inquires applying with lenders and programs that are almost certain to decline your business.   Apply with programs here that will lend even with much less demand during the virus. Get funded now.   Apply above.

No recent business sales
Can we get business funding with no recent sales?

What are examples of declines in demand?:

March, April & May were much slower sales because of covid-19.
The most recent (3) months sales are looked at.   The total deposits per month are reviewed to determine trends.   Questions by the lenders include:
Is there a downturn?   If so, how much?   What were the customer’s average daily balances?   Were they overdrawn with NSF’s and overdrafts?

50% or 60% reduction
Lenders look at how much of a reduction in business your business has had.  How steep of a reduction, how quickly, how long and has the business started to recover?   The main thing lenders will look at is the percentage sales drop.  Any drop in sales over 25% is considered significant.  Funding may still be possible with drops of 50% to 75%.    If a business has had a major drop in sales and needs a larger business loan, then they can add real estate to back the funding and get a much higher loan loan.

Some segments of your business were strong while others had very low sales.
Example:  A retail store’s overall sales in March, April & May were down 50%. In store customers dropped to almost 0 because of the lockdown.    However, because their website offers shipping and delivery of products, online sales were up 75%.

How to get a small business loan in spite low recent sales?

– Make your case.   Don’t just say business was bad.  Say more.
Example:   Explain why.  You can say “We had a drop in business and purchases because of the virus. In spite of that, we are now open and sales are increasing”.

How to explain low sales to get a business loan
Tips and steps to explaining low recent sales to lenders to help get a business loan

In the example above, provide the information when applying.  Explain how it was not the fault of your business, and you still had sales that are now increasing, both positive current trends. This shows that your business overcame obstacles and is rebounding.

Have all the following questions already answered about the slowdown in business and provide them when you apply.
How bad has it been?
What is the situation now?
How has it affected your business?
What are you doing about it?
When do you expect sales in rebound and increase?
How can you show the business will survive?

Increasing sales in May?
If your business has started to recover in May, consider loan options now.

FAQ Frequently asked questions on getting a business loan with low recent sales

What are slow sales?

When sales are less than normal for a specific time period.   Lenders consider any reduction of sales of more than 25% to be a significant reduction.

How do lenders look at a major hit in revenues?

Lenders want to know why were sales low, and for how long?  They also will consider if sales are expected to rise again and when?  Lenders also look at the percentage drop in sales and whether the business can survive, still make a profit and pay all expenses.

How can I get a business loan when we are operating at 50% capacity?

There are several other types of financing a business may still be able to get.  Asset based financing is the most likely to include using receivables, equipment or real estate.

My tax returns last year were good, so why did the lender decline
us for a drop in business?

The lender is most worried about the condition of your business now and in the future.  When there is a recent big downturn without certainty of improvement, lenders consider this very high risk.

How to get a small business loan during Coronavirus (Covid-19)

How to get a small business loan during Coronavirus covid-19
Programs are available to fund your business during Coronavirus-19. Many programs and options are available to get funding now. Choose from programs that are not restricted by industry type.

With business sales down during Coronavirus, many businesses are getting declined for a small business loan.   Need a fast business loan now?  Which business lenders are open and funding? Check out the:
Top Top 6 Fastest Business Loans available during Covid-19 Coronavirus during Covid-19 Coronavirus. Lenders are restricting industries they lend to and businesses are now being declined  because sales have dropped.  There are more exceptions for certain essential or critical business industries

Understand which lenders to go to and why.   Consider how they look at your business and choose the right alternative business loans including bank statement loans, asset based loans, loans against equipment, vehicles or real estate.

Get started on several current options by completing the link, below.
Small Business Loan during Coronavirus Now – Secure Docusign
Or Call us at Tel:  1-919-771-4177

Estimated Cost: $0
Total Time: 1 Day
Supplies Needed:  search information, time available.
Tools needed: Internet connection, phone, computer

How to get a business loan during Coronavirus Covid-19. How to steps, direction and tips.

Step 1.  Preparation:

Pick lenders that are still lending to your industry and the current situation your business is in.

Tip: Be flexible and open minded to all funding options. The funding option you prefer may not be available or restricted. Credit has tightened a lot for business loans and qualifying is considerably harder even if the program is available.

Decide on your company's strengths
Decide on the main strengths of your business right now. Don’t apply with a program that considers where your business is weak right now.

Step 2.  Have your information ready to go:

Tip:  Consider all alternative programs that may be a better match for your business now.
Example:  Cash flow and sales averages are down in the last month.    Look at an asset based loan.

Find lenders lending during Coronavirus covid-19
Business loans now during Coronavirus covid-19

Step 3. Contact lenders that clearly say they are making small business loans during the Coronavirus Covid-19

Review the programs available and continue to match the strengths combined with the needs of your business in deciding which program you should apply for or not.

Tip: Try to pre-qualify over the phone by calling.   With a representative, match the programs available with your company’s profile. List as much business income, collateral, and documentation of both you can to strengthen your request.

Documentation or proof may include bank statements, tax returns, copy of titles of equipment or vehicles.    List the stronger credit owner first because you will increase your chances for approval and also get higher offers.  For equipment purchases tell the lender how much down you have.

call the lenders that are making business loans during Coronavirus Covid-19
Call or complete an app to those lenders that are open and funding business loans during Coronavirus Covid-19

Step 4. Complete application for funding.

If you are approved, review terms and conditions including down payment requirements, fees and time to close.   If you are not approved contact the lender to discuss available options.

complete coronavirus covid-19 small business loan application
Submit the app to get small business loan options for your business during the coronavirus covid-19 pandemic.

Step 5.  When you are approved, request documents.

Review terms and conditions including any down payment requirements, fees and time to close.  If you are not approved contact the lender to discuss available options.

When you are ready to close, complete all closing items required and receive funding

Review coronavirus covid-19 business loan approvals
Your decision on which business loan to close during Coronavirus Covid-19 should be heavily weighted in the short term on how likely your business can re-borrow under that program.

Small Business Loan during Coronavirus Now – Secure Docusign

FAQ Frequently asked questions on how to get a small business loan during Coronavirus (Covid-19)

How can I get a small business loan during Coronavirus Covid-19?

Read what the lender is saying about any lending restrictions.  Ask if they will decline because of recent low sales due to the virus.    Look at every alternative program that is available and ask if they are funding businesses with those programs.  Often there will be other alternative programs that your business can be approved for.

All lenders declined our business because our sales are down during Coronavirus.  What kind of business loan can we get?

Apply for an alternate program.  As mentioned you will want to consider business loans you would not have considered in the past.  These include loans against equipment, vehicles, real estate or accounts receivables.

Our sales are down during this pandemic and also my credit is bad.  Do we have any chance to get a business loan?

There are still business loan options available.   Most of these options will likely asset based collateral loans.    These include business loans against trucks, trailers, construction equipment and real estate.

We need emergency funding for our business because of Coronavirus but no lender is approving because of the virus.   What can we do?

Your business needs to look carefully at what it’s strengths and assets are.  Then you will need to closely match those to programs that are still open, approving and funding.   Securing working capital during this time may be far more critical than details of loan terms during normal conditions.

The emergency sba loans for Covid-19 coronavirus will take too long and have a lot of paperwork I don’t have.    How can we get a business loan faster?

It will likely need to be a program that is asset based such as equipment or real estate.   If your business has maintained it’s cash flow, then there may still be fast options.

Top 6 Fastest Business Loans available during Covid-19 Coronavirus

1 Cash flow loans or bank statement loans for Essential industries
2 Loans against vehicles or business vehicles
3 Paycheck protection program – PPP CARE
4 Business loans on Equipment
5 Advances on accounts receivables
6 Loans on Commercial Real Estate

Declined for not enough collateral? How to get your business loan approved

Has your business been declined for not having enough collateral or collateral the lender wants?

Choose from a small business loan that has 5 very flexible no collateral requirements.      Click on the Docusign application below because fast as same day or next day funding is just a click away.

Complete the secure docusign application now.
Or call us at Tel:  1-919-771-4177, or Question?

Business funding does not have to be hard to get.   Does your business have collateral or cash flow?   If so, there is a program that will fund your business.  Denied for not enough collateral?  See Tips, FAQ questions and answers below.

Declined for not enough collateral: How to get your business loan approved
The most flexible business loan collateral options of all programs. If it can be used as collateral for a business loan, it will be!

FAQ Frequently asked questions on being declined for a business loan for insufficient collateral and also unacceptable collateral.

What does insufficient collateral mean?

Insufficient collateral means you or your business do not have the assets the lender requires to secure a loan. Programs vary from lender to lender. If you received this decline reason,  then check with other lenders or consider other business loan programs.

What can be used as collateral for a secured loan?

Many types of assets can be used as collateral for a business loan depending on the lender and the program.  For example, accounts receivables, equipment, vehicles, stocks and real estate are commonly used.

What if I don’t have collateral?

If your business does not have collateral for a loan, then consider a cash flow loan or unsecured loan. Most unsecured business loans look at your monthly business deposits. Other unsecured programs also look at tax returns, financial statements as well as business and personal credit.

Why do I have to have collateral?

Collateral may be required because the lender needs security in order to even offer a business loan.   The lender sells the collateral when a borrower defaults and recovers much or all of what is owed on the loan. This often lets the lender offer more approvals and make more aggressive offers.   As a result,  they will lose less from default customers through the collateral in the loan.

Thank you for visiting our page on how to get approved for a business loan after being declined for not enough collateral.   Tips, resources, and an
FAQ Page also included.

How to get a hot shot truck loan

how to get a hotshot truck and trailer loan
Get a hot shot truck and trailer loan now!

With a hot shot truck loan a driver can get a big rig tractor and trailer on the road.  Loans also include trailers such as gooseneck trailers, car haulers and semi -trucks.    Low credit scores may qualify and some start up options are available.
Secure DocuSign 30 Second Application here
Call us at Tel:  1-919-771-4177, or Question? Contact us here.

Estimated Cost: $0
Total Time: 1 Day
Supplies Needed:  time available.
Tools needed: Internet connection, phone, computer


How to get a hot shot truck loan

1. Make a list of the truck and trailers needed.

Include description, manufacturer, year and model numbers.

have your information ready
Have the description, manufacturer, year and model number ready for each tractor trailer truck and trailer.

Tip: Programs lend up to 95% maximum on qualifying trucks and trailers.

The vehicles and trailers must be free and clear. Have the information on the seller ready and whether the seller is a vendor or private party.

Search for and find hot shot loan programs
Look for lenders that specialize in hot shot truck and trailer financing.

2. Contact lenders that provide hot shot truck loans on trucks and trailers that you are looking for or already have.

Ask about their approval requirements and program options including credit scores, down payment needed, documentation required, time in business and time to close.   Decide which programs are the best match for your business based on the requirements and your own profile.  Give the funder basic information on the trucks and trailers.   Ask what your chances of approval are and if they can pre-qualify you.

Call lenders
Call the lenders that specialize in this financing

3. Provide any income verification you have to strengthen your request.

List the stronger credit owner first because you will increase your chances for approval and also get higher offers.  If your credit score is low but you can make a higher downpayment, tell the lender.   Approvals are another result of higher down payments.

4. Complete application for funding.

If you are approved,  review terms and conditions including down payment requirements, fees and time to close.   If you are not approved contact the lender to discuss available options.

Complete application for a hot shot truck loan.
Once you have matched the best program to your profile, complete the application.

5. When you are ready to close, request documents and finish the paperwork.

Complete all closing items required and receive funding

Review hot shot truck and trailer loan offers
Look over all terms and conditions on offers. Consider early payoff options and compare terms on multiple offers. If declined, then apply with other programs. Ask what the decline reasons are and whether your application can be reconsidered if you resolve any decline reasons.

Secure DocuSign 30 second Application here
Call us at Tel:  1-919-771-4177, or Question? Contact us here.

FAQ Frequently asked questions on how to get a hot shot truck loan

How can I get a hot shot truck Loan?

To get a hot shot truck loan, complete the application. Provide information on vehicle and trailer years, manufacturer, model number, cost and amount you have down.

Do I need a down payment?

You will need at least a 5% to 10% down payment. In some cases the downpayment will be higher with a lower credit score.

Can I also buy my truck from a private party or does it have to be from a dealer?

Private party purchases are allowed but getting from a dealer will make the financing easier to get.

Need other options?
Check here for other small business loans without vehicles.

What is a concurrent loan? An easy way to get more business funding

Concurrent funding is when your business continues to get more money while you pay down the original business loan.   Why concurrent funding?    Get new funding soon after you start paying down your current loan.   Your business is likely to qualify for new funding several times during the loan.   Apply below and say you want concurrent funding options.    Read more if a larger business loan is needed.

Secure DocuSign 30 Second Application here
Call us at Tel:  1-919-771-4177, or Question? Contact us here.

Concurrent loan for business
A concurrent loan allows your business to get fast new business funding with the least amount of review and paperwork

FAQ Frequently asked questions on a concurrent loan for businesses

What is a concurrent loan?

A concurrent loan is when the same lender makes another separate loan before their existing loan is paid off. The concurrent loan can be as soon as 1 month after funding.

Why get a concurrent loan instead of redoing the same loan?

Lenders do not want to refinance the existing loan after only a month or two. The numbers in the contract would be wrong. As a result, it is easier to do stand alone business loans separately. This is especially true if the lenders want to extend more funds frequently such as monthly.

Won’t my existing lender give me less money because I already owe them?

The lender will always give you as much as they can. If you have a good payment history with them, they usually give you more than other lenders because you have a proven record with them. If you need more than they will give, then you can consider other lenders

What should I do to get a concurrent loan?


  • Find out how much you owe on your existing business loan:
    Find out what the balance is on your  loan and what the requirements are for getting more money.   Only some contracts will allow you to get more business funding after paying on your existing loan for just 1 month.  Many other contracts require your business to have paid the loan down 40% to 50%, or even more.
  • Communicate:
    By knowing what your contract says, you can contact the lender as soon as you are eligible.   Check that your payments have been on time and if being late makes your business ineligible for more funding.

Why don’t banks lend to small business?

Small businesses have a hard time getting a loan from banks.   But why is that?   Why don’t banks lend to small business?   There are several reasons.  Find out how to get lenders to lend to your business.

Banks are much more risk adverse
Banks are risk adverse because of the low rates they offer.  So by earning less on each loan, the bank has to have more paying loans to make up for one default.   Banks are also adverse to many other risks, including economic cycles, natural disasters, health pandemics or outbreaks, stock market fluctuations and many more.

Banks charge low rates on loans
The lowest rates for business loans are at banks, savings and loans, credit unions and the sba.  Because rates are low, the bank will make much less interest income from the loan.    What can you do about it?   Get a business loan that a bank will not approve.   Apply below.   Review more small business loan options here.

Secure DocuSign 30 Second Application here
Call us at Tel:  1-919-771-4177

What are other reasons banks do not lend to small business? Banks need strong credit, financial statements and good collateral.

Business owners who do not have a high credit score, strong collateral and strong financial statements will probably not be approved at a bank.   As a result, your business needs a lot more funding options.    Apply above.

For instance, other funding options include a bank statement loan and also a loan on equipment.   Both have fast funding and little paperwork.

FAQ frequently asked questions on why don’t banks loan to small business?

So why won’t banks lend to small businesses?

Banks, savings and loans and credit unions in general only accept the lowest risk businesses mostly because they offer among the lowest rates in small business lending. Their default rate has to be very low so they can only underwrite the safest and lowest risk customers.

What do banks look for to approve a business loan?

Banks look for excellent credit, collateral and the ability to repay. Cash flow as shown through financial statements and tax returns shows a businesses ability to repay. The collateral often needs to be the type of collateral a bank will accept and they closely look at the intended use of funds by the business.
Some use of proceeds are acceptable and others will get the business declined.

My bank turned me down for a business loan. What are my options for business funding?

It depends on your credit, cash flow and collateral. If your credit is not good, your business may need to get an asset based business loan where the collateral is the basis for approval.

My bank turned my business down for insufficient cash flow even though our business has strong sales. What does that mean?

The bank reviewed your business net income after expenses and decided there isn’t enough income left to pay the new debt. They may have looked at the net income on your bank statements or the cash flow in your business checking account.

why don't banks lend to small business?
Why banks don’t lend to small businesses and how small businesses can get a business loan.

Additional Factors on why banks don’t lend to small business.

Federally regulated
Banks are heavily regulated. Through state banking commissions, the federal reserve and fdic, bank’s level of risk in their lending programs is often reviewed and restricted.  As a result, banks put depositor funds at risk if they make loans that are too risky, especially larger commercial loans. If those loans default it could compromise the financial stability the bank and depositor funds.
Net income for the new payment
Your most recent business net income or bank statements are used to calculate if your business can make the new payment. Not all business loans look at this, but banks do.
2 to 3 year cash flow history.
Traditional banks also ask for business financials including business tax returns for the most number of years, usually 2 or 3 years.
Type of business and industry
Banks consider the industry type in their business loan decision. Banks, savings and loans and credit unions usually prefer certain industry types over others because some industries are considered risky and restricted.
Time in business
Less than 2 or 3 years time in business will often be a decline reason.
Other loans your business already has
If your business has any other loans already, that may be a reason to be denied a business loan by a bank. This is often called over obligated or sufficiently obligated.
Lack of financials such as interim financials
Not having the requesting financial statements can be a decline reason.
Not a homeowner.
If you are a business owners and not a homeowner, some lenders may decline you. Being a renter instead of a homeowner can be a decline reason.   Banks may see renters as less stable and therefore riskier.
Time at current business location
Businesses at their current location for less than 2 years may be denied by banks and other lenders.   Lenders will decline if they feel that stability is lacking.

Business account transfers: Affect on a business loan

Has your business been declined for a business loan for having non revenue business account transfers?

Certain transfers between business checking accounts are not counted as deposits or true business revenue by many lenders.
Get business funding programs that consider many transfers that are  automatically declined by most lenders.   Click on the Docusign application contact form below to get funding started today.   Same day and next day funding available.   Don’t be declined for having transfers between accounts.

Complete the secure docusign application now.
Or call us at Tel:  1-919-771-4177, or Question? Tell us what do you want to do?

FAQ’s Frequently asked questions on being declined for a business loan for non business revenue transfers between business checking accounts.

Question: My business has transfers between business accounts each month. Can you still fund a business loan with transfers between accounts?
Answer: Yes. We will look at the transfers between accounts. If they are not business revenue then we will just deduct the amount from the total. If they are business revenue then they will be kept as part of the deposit totals and used as part of any offer.
Question: Our business was declined for having non revenue transfers into our business account. Why would the lender decline our business for that?
Question: Transfers are often not counted as revenue because a transfer into an account may not be business income from a customer.  The lender believes that deposit did not come from a sale or service to a customer.
Question:I was denied for a business loan because the lender would not count transfers between business accounts even though they were revenue. Why would they not count and include those transfers?
Answer: The most likely reason is that the repayment of the loan will only usually come from one business account even if the business has more than one business checking account.
Question: Our business does transfers between accounts for payroll and other needs. Why should we be penalized for that when it comes to our revenue totals for a business loan?
Answer: If your business is transferring between accounts for payroll and operating expenses then those transfers will probably be counted with us towards your total revenue in the loan analysis.

business account transfers
How to get approved after being declined for having unacceptable transfers between business checking accounts. — Click on image to get started!

Customer examples of businesses that were declined and we were able to get an approval for and funded.

Example 1 :   A construction company had 7 deposits in May into their main business operating account.  During the month they had 5 transfers into that account from the other business account they have.   One of the remaining 2 deposits was for only $200.    The lender only gave the company credit for 1 deposit that month and declined them for not enough deposits due to transfers.
The customer came to us asking if we could help.  The transfers were true business revenue from their other account and we were able to get them approved for  $35,000 funding.   Why were we able to help them?   We looked at the account they transferred funds from and counted those funds as real revenue.   As a result, the fact they transferred funds did not matter.

Example 2:  A manufacturing company had 8 deposits into their account in May.   All 8 of those deposits were showing on their bank statements as
“E-mail money transfer in”.   Three funders declined the business for non business revenue transfers.   The customer told us those were payments from customers and not transfers between his business checking accounts.   The customer does not accept payment by visa or master card and needed to give his customers more payment options than  only being able to pay by check.    Through his bank, his company began offering a very convenient payment via E-mail option after which most of his customers switched to and began using.  The other lenders did not consider this and immediately declined him.

Was your business declined for a business loan due to transfers between accounts?  What can you do now?

Contact the lender to discuss this decline for having business account transfers.

Communicate with the lender and find out which transfers were not counted as revenue.  The decline reason probably did not have enough information.  Ask about the details.   Also ask about the specific policy that does not allow transfers between accounts to be considered business revenue in a loan evaluation .

How can you advocate your business to the lender?

Ask the lender what it will take to get approved.  Also ask if there are any changes you can make immediately that will change the decline to an approval.

When can you apply again?

Ask how long you have to wait before you can apply again.  Most lenders will make you wait at least 30 days before you can reapply.    As mentioned earlier, if you can determine what changes you need to make with your business as well as the type of of deposits,  then make those changes before reapplying.

Missed mca payments? Take these 4 steps now to fix the problem fast

Missing just 1 mca payment should not cause your business problems.   But what if you have more missed mca payments maybe because of the Covid-19 pandemic or plain slow business?   What can you do to avoid problems?    In this post we will talk about 4 initial steps further below to take if you cannot pay cash advance payments. 

Also consider if you can instead get out of your merchant cash advances now.    Payoffs may be possible through a longer term loan that are asset based.   Contact us below to get started on safe ways to fix this problem before lenders take action against your business. 

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missed mca payments
You have missed mca cash advance payments. What should you do now? Several immediate solutions to save your business.

What can you do after missed mca payments due to Covid-19 Coronavirus?

1. Communicate with the lenders immediately.

Contact the cash advance companies right away. Do not think the problem will work itself out or that you will probably catch up in a couple of days. Communication is key. It is better if you contact them before you miss more payments. However, if you already missed a payment then contact the advance companies that day or the next day at the latest.   Maybe the missed payments are not your fault.   Missed mca payments due to the coronavirus covid-19 pandemic may have impacted sales causing your business to miss mca payments.

2. Tell the cash advance companies what has happened and why.   But how do I explain this to the mca companies?

It depends on your situation. What is your cash flow situation right now?  Can you begin making the payments again right away? Figure out what you can pay, when, and how often.   Let them know what is happening with your business.    If you have a good reason for missing payments, tell them that reason.   If you can back it up with documentation, all the better.    Being proactive and communicating will be your best option at the beginning.  If the lender has no coj confession of judgement, you will still want to work out a payment plan to avoid a default.

3. Can you start making payments again?  If so, make an agreement with the advance companies to begin.

Call the cash advance companies even when you can start  making payments immediately. They still want to know why you missed mca payments.  That will help your case.  You may end up missing another payment later you did not expect to miss.   It is better if you are already on record as being in contact with the lender.

4. Payment plans after delinquent mca payments

Payment plans are best when the business can neither keep making the daily payments or paying off the advance. The cash advance company may be very willing to set up a payment plan. They will be able to get payments in full and the merchant will make the total sum of payments.   It is up to the lender to do this.   If your business wants to go this route then be ready to explain to the cash advance company why a payment plan will work for both of you.

Missing consecutive payments

If you expect to miss more payments consecutively, then you want to decide if you can payoff the advances first. Paying off advances with another loan is better than continuing to miss payments.   You can choose from unsecured options such as a bank statement loan, and a large business loan if you need a lot.

Bouncing more mca payments.

If you know you cannot sustain your payments then paying off the advance may be the best option.   This is because missed payments will make it much more difficult for your business to borrow in the future and make this your worst option.    Many merchants would rather not take out a new loan.   However, if you are approved for a new loan that can payoff loans you cannot pay, you should strongly consider doing so.   Many businesses cannot even get approved for a payoff and don’t have that choice.


Paying off your merchant cash advances may be the best option.   But when is it better to payoff and when is it better not to?  It is usually better to payoff the cash advances when you know you cannot keep paying the current payments.   Paying the advance off with another loan works very well if you have less than 3 months or so left on the exiting advances. Taking out a loan to payoff a low balance is still much better than missing mca payments and defaulting.    You can avoid damaged credit, court action and trouble getting loans in the future.

When does it make sense to payoff one loan with another?
Example: A merchant has an advance with a daily payment of $100 and has a remaining balance of $3,000.  He has 30 payments left but he cannot keep making those last payments and will go past due and default. Before going past due the merchant is offered another loan for 6 months to payoff the $3,000. The new daily payment will be about $35 per day for 120 days.   The borrower can afford this easily.   Problem solved.   The business now has a payment they can afford and does not have to worry about paying the advance on time.

Extending the term

Extending the term is usually similar to a payment plan. Sometimes it is more informal and the cash advance company will just let the borrower continue making payments past the term without a formal contract.  At other times a formal new contract will be written that replaces the old contract.    Expect the mca company to charge penalties, fees and more interest as part of the new contract.

Lowering Payments

Getting your mca cash advance company to lower the payments works best when your business just needs short term cash flow relief for a week or two. Your business may just have a brief cash flow problem it needs to work around.   Be aware that mca companies are not receptive to businesses calling in multiple times and asking to lower payments for a while.    It is supposed to be a rare request rather than one of convenience.   Some lenders may only do this once during the term of the contract.     If you think your business will need to ask for lowered payments several times then find a different option.

Pausing payments

A pause for one to three weeks may be all a business needs.  As with lowered payments, your business has to be sure it will be able to restart and continue payments when the payment pause is over.     You should not pause payments if you need a longer term permanent solution.    Sometimes businesses will ask to pausing payments when they know they will have a problem again when the regular payments start back up.   If this is you, then you should put all your efforts into solving the problem permanently on the front end.

Settlements after significant missed mca payments

A settlement directly with the mca cash advance company can be considered when other options will not work.  Settlements usually happen after a merchant has failed with a payment plan or lowered payments and not able to handle regular payments anymore.    It is a step before a default but still considered better than a default situation.

Beware of 3rd party settlement companies that tell you to put a stop payment on a merchant cash advance company.

We believe this is the worst choice in almost all cases.   Many settlement companies will tell you to do this to buy time for them to negotiate with the mca cash advance companies on your behalf.     However, they still want you to pay them a lot of money upfront before they start negotiations for you.    We believe this is a very bad idea for your business for several reasons.

Let’s break down why:

Your advance will be declared in default immediately when you put a stop payment on them.  You certainly will not want to even consider this if you have not read your MCA contract in detail.   The contract will tell you all the actions the advance companies can take when you put a stop payment on their daily Payments.  Putting a stop payment on a merchant cash advance will definitely result in the strongest response against you by the mca companies.   If they have a coj, then they will file it against you almost immediately.    The settlement companies telling you to do this do not have to deal with the problems you will have! Do not do this!

Beware of companies that tell you to close your business checking account

MCA companies will react in about the same way as when you put a stop payment on their daily payment. They usually consider closing your business checking account to stop an mca merchant cash advance as an intentional default.

What is an intentional default?

An intentional default happens when a borrower takes an intentional action not to make good on the contract.  This is almost always combined with little or no communication with the cash advance company. Lenders think of the borrower as trying to evade an obligation and contractual promise to pay. Worse, their contract usually includes specific language that talks about what actions and remedies they can take if the borrower closes their account. We believe this is a bad option for almost all borrowers. Contact us above for much better options!


Defaults are the least desirable option.   The lender has declared that they are taking a loss on the loan.   The worst adverse action has already been taken against the merchant, which may include filing a coj confession of judgement. All efforts should be taken to avoid a default on a cash advance.
If the mca company has a coj confession of judgement, they can have it enforced through a court in one or two days.    Sometimes they can have it affirmed by a court the same day.

What can the cash advance company do then?    They can have the sheriff contact any bank they wish and demand that the bank verify if your business has a checking account there.   If so, the cash advance company can debit all the funds out of your account.

In conclusion

The tips above can guide you on how to handle specific situations with cash advance payments. If you continue to struggle with debt long term the National Foundation for Credit Counseling, NFCC can help with budgeting and strategic long term debt planning.

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FAQ Frequently asked questions on missed mca payments due to Covid-19 Coronavirus

My business sales are way down because of covid-19 coronavirus and I am missing all my mca cash advance payments. What are my options?

Call your mca merchant cash advance companies immediately. Discuss any relief programs and options they have. Consider alternatives to using collateral asset based programs to payoff your advances in the short to medium term if you are in a position to do so.

I missed an mca payment. What can the merchant cash advance company do?

If you have only missed one or maybe two payments then the mca companies are unlikely to
take any other action besides trying to contact you. If you have not talked with them yet then contact them

My cash advance company has threatened to take action against me for missing payments. What can I do?

If your mca company has threatened to take action against you it means they probably have not done so yet. You still may have an opportunity for a good result. Look at what you can pay and consider offering to make that amount of a payment to them.
If they refuse then put your offer in writing and email it to them. This may work strongly to your benefit if there is future court action against you. It demonstrates that you communicated with the cash advance companies. You attempted to work out a solution and still fulfill your obligation to them based on your worsened financial situation and they refused. Whatever your outcome ends up being, this action should put you in the best possible position later.

I don’t want to talk to the mca companies. They are very aggressive, rude and threatening. Why should I talk to them?

Talk with them because if you don’t they will take action against you. They may be able to put a freeze on your business checking account or block your account. You will not be able to use your business checking account if they do that. That will be the worst result for you and your business. Talk to them to see if you can come up with a solution.

My cash advance company said they can lower the payments or pause the payments. Which one is best?

Pausing the problems is best when your business has a short term cash flow problem for two or three weeks but will be able to begin making the payments again after that. Lowering the payments will be best if your business is going
to still have trouble making the regular payments later. If you cannot make the regular mca payments later then it is better
to try to get the payments lowered long term until you have paid off the contract.

I have some delinquent mca payments right now. Should I payoff the mca payments or try to work out a compromise?

Payoff the cash advances if you are able through another loan when you cannot keep making the daily payments and know you will probably default. When you have the cash flow to keep making a lower payment then it is best to try to work out a compromise with the lender.

A settlement company wants me to close my business checking account so that the mca companies cannot debit any longer.
Is this ok to do?

You should not close your business checking account to stop daily mca debits other than in some rare cases. Closing your account automatically causes you to be in default. The mca company can also declare the act of closing your business checking account to stop the daily payment as an intentional default.

I missed some daily mca payments and the advance company is telling me I am in default. Can they declare me in default?

If the contract says missing a certain number of payments puts your account in default and you missed that number of payments then they can declare you in default. Negotiating the best possible outcome is almost always better even if you have been declared in default of an mca. By communicating with the advance company you usually get the best possible outcome for your business. In some cases when you do not have the cash flow to work out a payment plan then you may have to consider other options. Contacting a business attorney that specialized in cash advances may be your best choice in such a case.