Merchant Cash Advance Loans can look like a really great option, but if you don’t meet all the criteria, it can end up a nightmare.
If you miss one or more of your MCA payments, you are considered in default. Defaulting on a merchant cash advance is usually considered a breach of contract. As a result, defaulting on payments means the MCA funder can pursue getting that money from you and your business.
So, are you a business owner that has a daily payment merchant cash advance loan that you would like to refinance? Would you like to consolidate your daily payment working capital loans or multiple daily payment working capital loans into a monthly longer-term business loan?
One of our core products is the MCA buyout loan or Merchant Cash Advance buyout loan. This loan is designed only to buy out your existing merchant cash advance daily payment loans into a monthly longer-term loan. Our investors will analyze your situation and can save you over 50% + by restructuring the loan over the long term.
Most clients have these daily payment loans because either their credit score was low, their profit margins were low or their business was new. We have the solution saving you 50% or more by consolidating the financing and stretching out the term giving you more breathing room and a lower monthly cost of business working capital.
To qualify for one of our buyout programs you must meet the following criteria:
- Credit must be above a 600 FICO score
- No recent bankruptcies or repossessions in the last 12 months
- Business must be generating at least a minimum of 300k annually and have at least 1 current MCA
- MCA buyout loans can be secured (with assets) or unsecured (no assets) depending on the situation
- At least 1 year in business
- If additional capital is requested above the MCA buyout then the client must have accounts receivable, contracts or collateral in some cases. (We need to show that you can support payments if additional funds are disbursed)
Thinking of Starting a New Business?
Now is the time! With our society ready to get back in action (safely), new business concepts are quickly emerging with creative flows for serving the public without the high risk of spreading the virus. Put your innovative business concepts into play, and connect with us to get the funding you need to start your newest venture!
Financial restraints have been a complaint for many of the dreamers, limiting themselves to their immediate funds. There is an alternative. If you have the dreams and decent credit, Small Business Loans and No Doc Loans are available to you. Our goal is to provide you with the knowledge you need and the resources available to make your dream a reality. Give us a call – we have the education and the perspective to help you obtain the loans you need for your small business. Visit our website or give us a call to find out what financial backing is available to make your business soar!
Unsecured Finances has over 10 years in the consulting business! We specialized in educating and assisting clients on acquiring Unsecured Business Loans and Start-Up Business Specialty Loans including; Unsecured No Documentation (No-Doc Stated Income) Loans, Unsecured Business Loans, and Unsecured Start-Up Business Loans and Lines of Credit from $10,000 to $500,000 without Assets.
Apply on our website to find out if you qualify, or call today for a free consultation: 1-888-294-2584