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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Call us at Tel:  1-919-771-4177, or Question? Contact us here.

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.   before you have missedApply above or contact 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 below and also helpful articles.  Review funding program details below.    We offer free consultation because we want your business to succeed.

Top Reasons for going out of business

Is your business having severe problems and is going out of business?   Below are the Top Reasons for going out of business followed by the complete list.

You can take fast, easy, and efficient steps to avoid going out of business.    This may include securing working capital to bridge the difficult period.    We have numerous options for all business situations.
Complete the secure DocuSign >>15 Second application now.<<
Or call us at Tel:  1-919-771-4177, or Get a business loan to stop going out of business.

Top Reasons for going out of business

1. Running out of Money.   Running out of money is probably the main reason for going out of business.   There are different circumstances under which businesses run out of money.  The business is going through a slow period.   Revenues have been low since the business opened.

3.  Too much debt and overhead.   The owners or the business itself may have too much debt and overhead to deal with.   They can’t handle it and go out of business.

4.  Insufficient starting capital.   Many businesses never really had enough capital to start.   Often there are problems after opening.  This is followed by the business not having enough capital to overcome them.

5.  Unable to get financing or enough financing.   Many businesses need working capital or other types of business financing after starting.  Some of these needs are critical.   If they cannot get the financing needed for equipment or short term working capital, the business may not survive.

6.  Not enough back up capital or emergency capital.    Business owners have liquid assets and net worth.   If the business needs more working capital than

7. Bad Employees.   This is usually employees that are bad performers with low quality work and low production.   Some employees are out sick on leave a lot.

8. Bad Marketing and Sales.   Some businesses have owners with expertise in certain areas.  They may have technical but not sales and customer service.   These other areas can be crucial to the survival of the business.

9. Inflexible ownership.   This is resistance to change or new ideas.   Many business owners have aggressive take charge personalities.   This is often what drives them to accomplishing starting a business.   It can hurt some business owners significantly.  Many business owners are not open to new ideas or alternatives different than the ones they believe in.   They are often very resistant to criticism.

10.  Market changes.   Businesses need to keep up with what is happening in their industry and stay up.  Some businesses show poor awareness to market trends and changes.

11.  Not keeping track of competition.   Businesses that do not keep track of what the competition is doing may be left behind.    Competitors may introduce new products, programs and incentives.

The reasons listed are usually the top reasons for going out of business.  Some solutions and ideas are offered to avoid going out of business.   If your business is closing, the SBA offers a list of items to consider when going out of business.

 

 

 

How to get out of an mca merchant cash advance

How do I get out of my merchant cash advance?  Many businesses have taken out short term advances against their future sales.  Stop your crushing merchant cash advance nightmare immediately and permanently.

There are several program options to eliminate advances, for instance, a payoff, consolidation and also asset based programs and more.   Get your freedom and business back.   Apply now, below:
30 Second Application
Secure DocuSign 30 Second Application here
Call us at Tel:  1-919-771-4177, or Question? Contact us here.

How do I get out of my mca merchant cash advance?:

  • Search online for programs that will help you exit your merchant cash advances without defaulting or having problems with your existing merchant cash advance companies.   Also look at any reviews
  • Programs that will payoff your other advances while you pay a consolidation or business loan will be the best option.   For example, settlement programs are usually not the best choice.
  • Review the features and benefits of different cash advance consolidation relief programs so you can make sure they apply to your business.

    Review the programs for consolidation and cash advance relief
    Read the features and benefits of each mca cash advance consolidation and relief program.
  • Pick the program that you feel is the best match to get your business safe from your cash advances and discuss the program details with the representative.

    Choose the best mca merchant cash advance payoff program
    Select the program that you think is the best one to payoff your cash advances and keep your business open
  • Apply. If approved then review terms and closing stipulations. If the new terms put your business in a cash flow position that will allow you to stay in business you can consider closing the transaction.

    Review whether the new terms will allow your business to survive
    Review terms and closing conditions. If the cash flow will help you stay in business consider closing the transaction. Review the closing conditions to get all the items needed to fund the transaction. This may include payoff letters from your current mca merchant cash advance companies. Determine the payoff for several days in advance.
  • When closing get all items needed to meet the closing conditions.  For example, this may include payoff letters from your current mca merchant cash advance companies.  Also get the payoff for a few days into the future.

FAQ Frequently asked questions on how to get out of a merchant cash advance.

Question: How do I get out of my merchant cash advance?
Answer: There are monthly payment programs as well as asset based and cash flow improvement programs. The programs that improve your cash flow do not involve settlements or negotiation to lower your payments. Your current cash advance companies will not be contacted and you do not have to fight with the cash advance companies.
Question: Are there longer term options?
Answer: The good solution to the I want to get out of my merchant advance dilemma may well be to take the amount they owe, and extend the term out to 24, 36, or 48 months or longer. Businesses can take out an asset based loan against their equipment, or a general loan against the business. Smallbusinessloansdepot can help. We specialize in helping you get out of a merchant advance with often simple and easy loans that range from 24, 36, or 48 months. The business can choose any of these term options. Most businesses say they want to payoff my merchant advance and are happy to be able to extend the term to 24 or 36 months, which are the 2 most frequently chosen options.
Question: Can I get emergency cash flow immediately to save my business from my merchant cash advances?
Answer: Yes. Programs are available to allow your business to payoff or get immediate relief if your business is suffocating from merchant cash advances that are taking too much out of your account. Options include extending the term as well as lowering the payments and settlements.
Question: How fast can I get out of my merchant cash advances?
Answer: Processing time from application to funding is 2 to-3 business days but can be as fast as the same day. If you apply immediately and return completed closing documents it is possible to get funding within 24 hours or by the end of the business day.?
Question: Can I declare bankruptcy on my cash advances?
Answer: Bankruptcy is normally a filing on all creditors or specific creditors and not just merchant cash advances. You can contact an attorney to receive more specific information about your options?
Question: Can I stop payment on my mca merchant cash advances to get out of them?
Answer: This is not recommended. While you have the ability to do so it is considered a default by the mca cash advance companies. Very large default fees and penalties apply. The cash advance companies will often file a coj certificate judgement against you immediately if you stop payment on their daily payment. A much better option is to contact the mca companies to discuss other options.
Question: Are there state or federal laws to protect me from merchant cash advances?
Answer: There generally are no state or federal laws to protect you from mca merchant cash advances. However you review existing state or federal laws if you feel there is the possibility that the contracts may violate laws.

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Other frequent requests for assistance:
– Help me save my business.
– I have a problem and need to escape my merchant cash advances.
– I need to stop my merchant cash advances.
Many customers don’t ask questions just and say they need to be rescued from their advance emergency immediately.
– I have a problem paying my mca’s.

Most common requests and comments by callers:
I need emergency cash flow right away. Most callers say they need immediate cash flow.    Some callers still have signifiant cash flow and say they need another advance asap.

1) These cash advances are destroying and ruining my life and my business.
2)  I am suffocating from my merchant cash advances and need to lower my merchant cash advance payments.  Also, I need emergency funds right now.
4) My merchant cash advance payments are killing me, so I can’t sleep and am also having night mares from what these cash advances
are doing to me.   Merchant cash advances are strangling my business cash flow.

 

How to get out of merchant cash advances

Resources:

For more information on business in general and business loans, also visit SBA Information and Options

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