Any business that has 2 or more merchant cash advance balances may benefit greatly from an MCA Consolidation Loan. There are many reasons why a business or professional practice with multiple MCA balances could use a Merchant Cash Advance Consolidation. Here are just a few.
- Does the total amount of merchant cash advance payments that come out of the business’s bank account each month equal more than the net profit each month? In other words, is the business losing money to pay for its merchant cash advances? Because if that is so, then there is a whole host of other problems that will arise shortly, once the business’s savings are depleted. That is if there are any savings.
- Next, is the business struggling to make payroll because of the merchant cash advances? This is a very difficult problem, and it is one of the top reasons that businesses will seek MCA Consolidation services. If your business cannot make payroll, or if it is struggling to make payroll then this will certainly affect employee morale and will have an impact on how your business functions. Employees can feel financial tension even if they don’t actually have evidence that it exists. You will want to fix that as soon as you can.
- Then, comes being late on invoices and bills because the MCA payments are on automatic withdrawal and are leaving your business with too little cash each month to fully pay all of the due invoices and bills. From this comes putting bills on credit cards and the lowering of your personal credit score as your credit card balance ratios change.
What Exactly Changes With an MCA Consolidation?
When your business decides that it has had enough and gets into an MCA Consolidation Loan this is what you can expect.
- Your business will immediately begin saving somewhere between 40% and 75% each month off of its debt service costs from daily and weekly merchant cash advance payments. If your business has 50K in MCA payments monthly that will go down to one payment (monthly, weekly, or daily) totaling between $12,500 and $30,000 each month instead of $50,000. The cash that your business will free up with an MCA Consolidation can be used for many other things to help your business either grow or get out of other debt.
- You will only have one payment to deal with. If your business gets into a monthly payment term loan MCA Consolidation then it will have just one monthly payment that is somewhere between 60% to 75% off of the monthly totals now, with a term of 18 months to 36 months. If it gets into a weekly payment MCA Consolidation Program, then it will have one payment each week totaling 50% to 60% less than its current monthly totals for a term of 12 months to 18 months. If your business gets into an incremental or reverse consolidation it will have a daily payment for a 10-month to 12-month term that will save it approximately 40% off of its monthly total debt costs from its current MCA payments. No matter which type of Merchant Cash Advance Consolidation program your business gets approved for your business wins. Cash flow will be freed up and you will have money for other things.
- You will be back in the first position again if you take an MCA Consolidation Loan. You will also get some cash back and will have a new relationship with a funder committed to helping your business not stack any more merchant cash advances.
- You will be able to pay yourself a decent salary again. Once you free up the cash you can get back to taking the money you deserve.
- You will not need to renew any more merchant cash advances. That will be over. Your cash flow stress will be gone or lessened enough to not need to take an MCA again.
Find Out If Your Business Qualifies For An MCA Consolidation Loan
All you need to do is apply to find out if your business can begin getting out of MCA debt today. Visit https://mcaconsolidations.com/ today and bring your business’s finances out of the dark and into the light.