Merchant Cash Advances REFINANCE
Refinance Defaulted, Modified & Performing MCA’s
Here is a program to help your small business get out of high rate MCA, revenue or cash flow loans and into a monthly payment
Frequently Asked Questions:
WHAT ARE THE BASIC REQUIREMENTS TO REFINANCE MCA?
Businesses with $1,000,000 or more in gross revenue; Merchant Cash Advance total balance of all advances should be at least $250,000; Must have Accounts Receivable on their balance sheet and/or subscription cash flow agreements with their customers; business assets such as cash, stock, inventories or real estate help with qualification
ARE YOU LENDING RIGHT NOW? (Lending during coronavirus)
Yes. Yes. Yes. And yes.
DO YOU PROVIDE WORKING CAPITAL TOO?
Yes. We provide working capital at closing in addition to the required Merchant Cash Advance refinance.
WHAT IF MY BUSINESS HAS MORE THAN ONE MERCHANT CASH ADVANCE?
There is no limit to the number of Merchant Cash Advance “stacks” or multiple simultaneous advances that we will refinance. We pay off all Merchant Cash Advance positions and put it all into a ONCE-PER-MONTH PAYMENT 24 to 36-month amortized term loan.
WHAT IF MY BUSINESS HAS MISSED, ALTERED OR DEFAULTED PAYMENT?
This is the specific situation that we are here to help and alleviate. Businesses with 3 or more merchant cash advances will typically and eventually default when they cannot get a new advance to pay the previous advances. We are here to help and save businesses that made bad financing decisions or had to take Merchant Cash Advances because there were no other loan products available.
WHAT IF MY BUSINESS WAS REJECTED BY THE SBA OR THEIR BANK?
This is the exact business owner that we are here to help. The SBA will not issue new financing to businesses that have active Merchant Cash Advances. They must be at least 6 months “Merchant Cash Advance-free” for the SBA to consider financing a small business.
WHAT IF MY BUSINESS HAS AN SBA LOAN OR TAKES SBA DISASTER ASSISTANCE?
We lend to business where we are subordinated or pari passu to/with the SBA or traditional bank loan. We prefer that every business takes advantage of the government-issued SBA disaster relief. We are actively helping all of our current borrowers and future borrowers file for SBA disaster assistance.
WHAT IF MY BUSINESS HAS AN ACCOUNTS RECEIVABLE / INVOICE FACTORING LENDER AGREEMENT IN PLACE ALREADY?
This is more than okay. We can refinance/pay-off the current factoring loan as well as the Merchant Cash Advances and roll it all into a ONE MONTHLY PAYMENT 24 to 36-month amortized term loan.
HOW DO I GET STARTED?
We will discuss your situation and determine the best financing plan options for you.
Its that easy and this is the best time to address your small business finances.
MCA REFINANCE PROGRAM OVERVIEW:
To learn more about merchant cash advance.