How can I get out of multiple advances?

What are multiple advances?

When a business has more than 1 cash advance, they have multiple advances .  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 now 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 and longer term options such as weekly and monthly payments.

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How you can get out of multiple advances.

  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.

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

FAQ Frequently asked Questions on getting out of multiple cash advances:

How can I get out of these without missing payments or defaulting?
You can either pay them all off through a consolidation or refinance them and extend the term several more months. You may qualify to extend the term for up to 10 years.
How much lower can you get my Payment? I need to reduce my payment by half or more. Can you do that?
We have programs available that can reduce your payment between approximately a third to more than half. In some cases your payment can be lowered as much as two thirds.

There are links to several other financing options above and also helpful articles.  Review funding program details below.    We offer free consultation because we want your business to succeed.

Use Multiple loan parts to get larger business loan

Get several smaller business loans to get a larger business loan amount

If your business needs a larger business loan and you know the business will not qualify for the larger loan, a strategy to get the full amount needed is to get multiple loan parts.   Get several smaller loans to achieve the goal of obtaining the full funding of the larger loan amount needed.
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As an example, if a business needs $100,000 and knows it cannot qualify for $100,000 in one loan, the business can get multiple loans.   In this example, if the business knows it can qualify for approximately $35,000, but not $100,000 and it needs $100,000, the business should first obtain a $35,000 loan.   After obtaining and receiving the $35,000 loan, the business can apply for another $35,000 round of funding, followed by a final round of $35,000 in funding.    By going for 3 rounds, the business has achieved the full goal of $100,000 in funding.

In many cases, the business does not need to use all of the funding in the first week or two, or even in the first month or two.   Many times, the business uses the funding over the course of weeks, and even months.     Had the business obtained the $100,000 all at one time and used it over the course of 3 months, that would have amounted to almost the same result had they obtained the funding in 3 parts of $35,000 over the course of 2 or 3 months.    As an example, if a Restaurant is doing a build out and expanding the restaurant by taking out a wall and expanding floor space, they spend the money as the work is completed over time, not all at once.

First the expense of breaking out the wall is incurred, followed by new construction, then electrical, then interior.   All of these expenses occur over time.   The general contractor does not charge this all upfront.

The strategy of multiple loan parts over time can be an effective way for a business to get all of the funds it needs.