How can I get out of multiple advances?

What are multiple cash advances?

When a business has more than 1 cash advance, they have multiple advances

Get started now on multiple fast solutions that are safe for your business!

Get a 1 large business loan to payoff the multiple advances or use different asset based options to payoff!    Apply below.

Apply Securely Now

 Call 919-771-4177 for more info.Secure DocuSign 30 Second Application here


Frequently asked Questions, FAQ How can I get out of cash advances?

How can I get out my mca advances without defaulting?

You can either pay them all off through a consolidation, or refinance and extend the term several more months. You may even qualify to extend the term for up to 5 years with credit scores over 600 and strong sales.

How much lower can you get my payment if you pay them off?

Your payment is reduced between 35% and 75%. The fewer number of months you have left on your advances now, the longer your refinance can be extended on a payoff.

Do you negotiate with my current advance companies?

It is not necessary to negotiate with your current mca companies. They are fully paid off and satisfied so there isn’t any need to talk to them. There will not be any other outstanding debt with them.

Can I get my advances paid off if I am behind on payments?

Asset based programs can be used to pay off delinquent mca accounts. Some unsecured programs may qualify if you are not severely delinquent. If you have already defaulted, then the asset
based route will work best to clear out your balances.


Does the example below look like your business?:

A business has three mca positions:
# 1:   Balance of $20,000 with daily payments at $333 per day.
Merchant has 60 business days left or approximately 3 months.
#2:    Balance of $10,000 with daily payments at $166 per day.
Merchant has 60 days left or 3 months.
#3:  Balance of $5,000 with daily payments of $83 per business day.
Merchant has 60 days left which equals 3 months.

If your business has advances from stacking, complete the secure 30 second application below to rescue your business today!   Get payments you can afford that will not hurt your business, or credit or reputation.
Several options to reduce your daily and weekly cash flow for advances.  Longer term options are also available, such as weekly and monthly payments.

Apply Securely Now

 Call 919-771-4177 for more info.

How can you pay them off?

  1. Add up and know your total daily, weekly and monthly payments on the advances as well as how much longer you have to pay on them.   Also get your total payoff balances.    Know your approximate credit score.
  2. Search for lenders that either payoff or restructure your debt as earlier options.    Funding programs that recommend you close your business checking account or negotiate a settlement hurt you the most and should be your last possible options.
  3. Choose a program that best matches your business profile for your amount of debt, ability to pay and urgency for a fast loan on any new program that allows you to get out of your advances.
  4. Talk to a representative of the program.   Tell them about your business and ask them about their underwriting criteria.   Try to assess what your chances of approval or being declined are for each program.   Once you find the best matching program, then apply.
  5. If approved, review the terms of the approval.   If you are satisfied, close the transaction.
  6. Receive funds into your business account and begin repayment with improved cash flow.

We have excellent programs with a high approval rate to fix your multiple mca multiple positions problem.  Almost all businesses can improve their cash flow.   Take actions before you have missed mca payments.   Apply above or call us at Tel: 919-771-4177.

If your business has several short term advances, contact us and get this solved today.



Pick your escape from MCA merchant Cash Advances

Select several safe ways to escape from mca cash advances.  Get on a cash flow path your business not only can survive, but have a healthy cash flow back!

Apply Securely Now

 Call 919-771-4177 for more info.

  • Preserve Your Credit
  • No Defaults!
  • Longer Terms
  • Sustainable for your Business: Payments you can make

 Apply Now

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

FAQ: Frequently asked questions on picking your escape from mca merchant cash advances

What ways can we get out of our cash advances?

There are both unsecured and secured options. Terms are available up to 10 years and may be a consolidation, if qualified. The business can also use qualifying equipment for a payoff. Real Estate can be use for very high total balances.

Can I get out of the advances with low credit scores?

Several low credit score programs are available for approval. These do not all require a high bureau score to refinance, consolidate or payoff your remaining payments. Scores can be as low as 500 and below for some programs.

Will I get a monthly payment to pay these off?

Monthly payments with credit scores down to 500 and lower are available for secured programs. Unsecured monthly payments need scores 600 or higher to pre-qualify.

Do I have to be current on my advances right now?

Options are available if your business is not current on its advances at this time. Being current qualifies you for more programs. If you expect go past due soon, take action before the payments are behind.

Choose your escape from MCA merchant cash advances.

Permanent relief from your mca merchant cash advance problem:

1) Call the merchant cash advance companies and negotiate a solution. 
Tell them the pressure on your cash flow has been far greater than you thought and ask if you can negotiate the terms.  If the Merchant Cash Advance company agrees, they normally lower the daily or weekly payment and the term is extended.

2) Try to qualify for a different loan to payoff the merchant cash advances.

Options are an asset based loan such a loan against real estate.    There are other loans that may be able to help business cash flow such as Factoring.
Factoring helps you get money owed to you much sooner.
If you cannot get one of these loans and the time left on your advances is only 2 or 3 months, another option is a bank statement loan.  If you can get approved for
6 to 10 month funding that pays off advances you only have 2 to 3 months
left on, then you may be able to extend the term of your existing debt by 7 or 8 months.  This can cut your daily payment by 75%.

3) Ask for a pause in your merchant cash advance payments.  
This works best if your business only needs a pause in the payments.  In most cases, the mca merchant  ash advance companies will stop the payments completely for 1 or 2 weeks.  If you know your business needs much more relief than this, you probably should not request this option as it will not be enough to solve your problem.   If you request temporary relief, then ask for a permanent reduction right away.

Tips and information

Reduce your payments be as much as 25% to 50%.   Some funders give merchants more time to pay it back or a permanent reduction in the payments.    First decide if lower payments are enough.  Will you be able to handle lower payments permanently?
Do cash flow calculations to determine if your business can afford the payments, even if they are lowered as much as 50%.

4) Find a traditional consolidation program
Such a program will payoff the other advances at closing.  This is not a program that advertises consolidation but then sells another cash advance.    If you can qualify for such a consolidation program, it will often be the best choice.   The terms will vary greatly depending on the strength or weakness of your profile.    These programs also have the biggest advantage because they almost always extend the term and lower your payment a lot at the same time.   Break away from merchant cash advances.

How would you like to escape your mca merchant cash advances?

More drastic measures

5) Hiring and involving an Attorney. 
This option can be considered if you have tried your best to work with the merchant cash advance companies and they did not offer a solution that would allow you to stay in business.   If this happens, consulting an attorney and considering your options may be in your best interest.   It could be that having an attorney contact the merchant cash advance companies to request terms that are sustainable for your business  brings you a better offer.

6) Bankruptcy.
This may be a final but viable option.  In the event you cannot work anything out and you will go out of business, bankruptcy may be the best choice.   Contact a bankruptcy attorney to discuss this.   If you have signed a COJ confession of Judgement, then make your attorney aware the merchant cash advance company has a COJ from you.   Another power the confession of Judgement also gives a creditor is to immediately access and also debit from any bank account you have an any bank.   Bankruptcy may be able to prevent this and allow your true escape from mca merchant cash advances.

Choose one of these options and start on your path to escape from mca merchant cash advances.   Break out and escape from merchant cash advances today!

Stacking Merchant Cash Advances – The Fix!


What is stacking merchant cash advances?

Businesses that take multiple short term cash advances are stacking cash advances.  Loan stacking is hurting your cash flow in a huge way.

Don’t let multiple advances ruin your business & cash flow! Fix it now with several choices:

Pay them off  –  1 Loan
Pay them down – Shorten the term
Extend the term – 1 to 5 years

Apply BelowNow!

Apply Securely Now

 Call 919-771-4177 for more info.

DocuSign 30 Second Application here.

Need emergency rescue from stacked merchant cash advances? Complete fast online app or click on image

FAQ Frequently asked questions about stacking merchant cash advances

What is stacking merchant cash advances?

Stacking is when a business gets more than 1 merchant cash advance at the same time. Businesses sometimes need
more money and can get a 2nd or 3rd advance.

Is stacking merchant cash advances legal?

It is legal to take out multiple merchant cash advances. Some advance companies prohibit you only in their contract from taking out any additional advances. State and federal laws do not prohibit multiple advances.

Can you take out a loan if you already have one?

You can can take out more loans if you already have one. We can get your business more funding with the cash flow to pay a new loan. Take the monthly cash flow you have to pay a new debt and multiply it times 10 for an approval amount.

Can I get a loan from two different places?

Your business can get a loan from two different lenders. We can approve you for funding even if you have a loan with another company.

How can I get out of stacked merchant cash advances?

There are several options. You can pay them off through a loan, consolidation or a reverse consolidation in which the advances are paid off daily from the new loan. This avoids past dues and defaults.

Can I consolidate my advances into a longer term?

We can consolidate and reduce your daily payments between 35% to 75%. If you currently pay $1,000 per month, your payments can be lowered down to $250 to $600 without defaulting or damaging your standing on your current
advances.


Get a 2nd position cash advance or a 3rd position mca advance if your company can handle the payments but did not get enough funding from the 1st position merchant cash advance.

Need saving from merchant cash advances? Programs now to get out of stacked advances and save your cash flow and business.

Get a consolidation loan to payoff the advances

Through a consolidation loan for instance, the daily debit payment is lowered and term extended.
How can my business be approved for a consolidation?   Contact lenders that specialize in consolidating merchant cash advances.   They should be able to give you criteria over the phone.   If you and the lender agree you have a strong chance of qualifying, consider applying for the consolidation.

Example of too many stacked cash advances:

A company obtains a first position Merchant Cash Advance, then a 2nd Merchant Cash Advance after the 1st one.   The second (2nd) Cash advance is stacked on top of the first (1st) merchant cash advance.  Then they get a third (3rd) Merchant Cash Advance.   The third (3rd) Merchant Cash Advance is stacked on top of the first (1st) and second (2nd) Merchant Cash advance.
The company’s cash flow is too restricted because it may not be able to pay other critical business expenses.  For instance, the business may not be able to pay for advertising, product development and expansion plans it has.

Stacking Example

Below is an example of how consolidating stacked merchant cash advances works.  The required multiple daily payments that are now being debited from your business checking account take away from critical marketing, inventory, and even being able to meet payroll.  As a result, how can your business solve cash flow problems from stacking merchant cash advances?

Acme, Inc.

Acme, Inc.  has 2 merchant cash advances.
Cash Advance # 1  current balance  $10,000  @ $100 per day.

Cash Advance # 2 current  balance $10,000 @ $100 per day

This merchant has 100 days left paying on these 2 advances.   They are paying $1,000 per week and about $4,000 per month.   On a typical consolidation, they will lower their payment by about 50%, thereby lowering their daily payment from $200 to $100.    This lowers their monthly repayment from $4,000 to $2,000 and saves them $2,000 per month.   Sometimes the savings is even more.

Negotiate with cash advance companies to lower the daily payments

How do you negotiate with cash advance companies to lower the daily payments?

Each cash advance company may have a different policy on negotiating to lower your daily payment.   The Lender will consider your specific situation,  and how the request is handled by the borrower.

Review the basic terms of each current advance because the cash advance company has stipulations in the contract you may violate.  The stipulations may say the borrower cannot obtain another cash advance until the contract is paid off.   This is an example of how you may have already violated the terms of the contract.   As a result, the lender may have the option of declaring a default.  For instance, they may require or demand full payment of the remaining balance immediately.  So review the contract carefully before contacting the cash advance company.

Ask for a lower daily payment

Your business can contact the cash advance company and let them know you cannot handle the daily payment.   You need to have the daily payment lowered for your business to be able to continue making the payment.    You will be asked some questions and may have to complete paperwork.  Ask for a pause or break in the payments

Ask for a pause in payments

If your business is only going through a short term slow period in business, it may be better to ask for a pause in the payments for a week or two.   Funders are less restrictive on pausing payments than they are on lowering the daily payments.

Pay off the cash advances with other loans

If the problem of stacking merchant cash advances cannot be solved through a consolidation or negotiation with the lender, another solution is to pay them off because that will fully solve your problem.   For example, some other types of loans are:
–  Asset based loan.   This can be based on Real Estate, Equipment, or both.
Accounts receivables financing.

You can use the proceeds from one of these other loans to payoff the short term merchant cash advances.    You may be able to extend the term to several years, which can dramatically lower your monthly payments.

Using these strategies and tips are the best ways to lower your daily merchant cash advance payments.

The SBA has tips, suggestions and hints at finding solutions to cash flow problems as well as how to create business plans and other business statements that may be requested for any type of financing transaction.

Consolidate Merchant Cash Advances – No Defaults!


The best and safe options to consolidate merchant cash advances.  Many businesses have multiple mca merchant cash advances by stacking cash advances. Get  immediate relief to lower their daily and weekly payments.

A regular consolidation and reverse consolidation will improve your cash flow up to 50% or more for some programs.   Apply below now!

Apply Securely Now

 Call 919-771-4177 for more info.

DocuSign 30 Second Application here.

How to get a merchant cash advance consolidation:

  1. Calculate how much you can afford to pay per day, week and month compared
    to what you are paying now.
  2. Research and contact companies that offer consolidation programs that match your business needs and daily budget.
  3. Review the qualification requirements and choose from programs that you have the best chance to qualify for.
  4. Do not get another mca merchant cash advance during the term of the consolidation.

FAQ Frequently asked questions on merchant cash advance consolidation.

How much can I save with a consolidation?

Your business can lower the daily or weekly payments between 25% and 50%. Some programs can lower payments as much as 75% and convert them into weekly or monthly payments.

How does the consolidation work?

A merchant cash advance consolidation is usually one large loan used to payoff several smaller cash advances. The goal is to lower total daily payments by extending the term, lowering the rate, or both. Some programs are structured differently or give you a longer term to payoff the current debt while others have a shorter term.

How do we qualify?

If you can pay the new consolidation amount while not paying the others, then your cash flow can qualify. It should be 30 days since your most recent advance closed and you should be current on the advances you have now. Lenders want to know your business has been able to pay the most recent advance before a consolidation request is approved.

How can I get the best terms?

Apply for the longest term program available. If you have several advances now then the best terms will be the consolidation that has the longest term. The longest term means your payment is lowered the most.

How does a reverse consolidation work?

A reverse consolidation covers the payments on your existing advances while you make a much lower payment on the reverse. During the term of the consolidation, your other advances drop off one by one until you only have the consolidation payment left.


How we can help

Your business may be in a position where it must extend out the term of current advances.   We can assist in paying off 2, 3 or 4 other advances and lowing your payment as much as 50% or more.

Funding can be advanced to allow your business to consolidate merchant cash advances into 1 loan.

Tips on how to get approved for a cash advance consolidation:

–  Keep paying all your current advances on time before applying for a consolidation.
–  Wait until 30 days after the most recent cash advance to apply for a consolidation.   Most consolidation requests be declined if a business took out it’s most recent
advance in the last 30 days.    Lenders want to see how a business is paying it’s most recent debt before it agrees to approve a consolidation application.
–  Don’t have more than 5 overdrafts or 5 NSF’s per month.

Consolidate your merchant cash advances today.

Program Features:

– No net funding requirement.
– Any number of positions consolidated.
There are daily, weekly, bi-weekly, and monthly repayment options for several consolidation options and loans.
We try to tie payment frequency to your deposit volume.  In consolidations, the main things at are looked at are:

The repayment history on current advances.

– If we are materially cheaper, and if your business has been able to pay your existing higher cost advances with minimal NSFs, we will aggressively pursue a consolidation.
– Deposit volume and consistency are reviewed.  If deposits vary significantly from month to month, we will typically look at the lowest month when calculating an amount to offer.  Up to 1.25 times your deposits with a 6 to 12 month term are offered.
– (NSF) insufficient funds and overdraft frequency are looked at.

Other features and products:

1. Advances are available in almost all states EXCEPT California.   Term loans are available.

2. Your future consolidation advance acts like more of a line of credit than a typical advance — a merchant can request additional capital at anytime from us.  We will quickly re-underwrite it with no fee and offer additional funds and keep your scheduled payment the same.

Renewals

You do not have to pay off our advance with us in order to get more capital.  This holds true if your business requests more capital after one month, or after six months.  Your business saves money at renewal. Your business will not pay interest on interest if you renew for premium programs.

– No origination or underwriting fees unless three or more advances are consolidated.  Then those fees are still lower, $250 to consolidate 3 to 4 advances, $500 to $750 for 5 or more advances).  No NSF fees or other junk fees are charged.
– The maximum initial advance or loan is $100,000.
– This is first position funding only.   This funding can be the only funding following a consolidation.  A standard line of credit, credit card split loan, traditional bank loan.
– SBA loan, car loan, student loans and home loans can be left in place.
– Daily, weekly, bi-weekly, and monthly payment options are available.
Your business may need help creating a business plan.  The SBA can also assist with ideas and programs to develop a business plan.