95% of Business Debt is Resolved by Restructuring, Big and Small…
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Cash Advances for Businesses
Small business owners sometimes require additional capital for operations to effectively manage their business. There may be a need for an upgrade in equipment, inventory, or even to pay your employees. If a business owner does not meet the criteria for conventional funding a Business Cash Advance might appear to be a sensible or feasible option to aid the company.
Plan A …Is the Answer to Borrow Quick Cash?
Financial Harm or Good…
Unfortunately, many small-scale business owners sign contract agreements to one of or many MCA lenders, with the intention of the loan provider to offer short-term financing for factoring receivables to aid the owner of the business in meeting the financial requirements of their company between the regular cycle of payment to its customers not taking into consideration the business has slow times.
Plan B… Is an “MCA” a Loan?
A Business Partnership or “ Who’s the Boss Now? ”
The term “merchant cash advance” (MCA) is not technically a loan, but it is an advance of cash that is based on the future receivables from credit cards that a company will be receiving. The procedure to get the advance is a fast process, and it’s not a credit-based decision. The cash advance companies review the receipts from credit cards that are received daily to determine whether the business is able to repay the cash promptly.
Plan C… How Do You Manage after the Fact?
Business Debt Management 101.
Cash advances from merchants can be extremely expensive. Not only is the rate of interest usually extremely high (and hard to calculate). They often have hidden charges that can dramatically increase the amount small businesses are expected to pay. This could eventually cause the business owner to go into default and experience real potential financial hardship.