Consolidate MCA merchant cash advances: The Best and Safest options without defaulting. No closing checking accounts or going into a default database like Datamerch. Many businesses have more than one MCA after stacking cash advances.
Get immediate MCA relief to lower their daily and weekly payments.
There are options to payoff your cash advances as well.
A regular and reverse consolidation will improve your cash flow up to 50% for some programs, thereby reducing your number of positions from a 2nd or 3rd cash advance position. Apply below now!
Call 919-771-4177 for more info.
How to get an MCA consolidation:
- Calculate how much you can afford to pay per day, week and month on an MCA compared to what you are paying now.
- Research and contact companies that have programs that will consolidate more than 1 MCA that also match your company needs and daily budget.
- Review the qualification requirements and choose from programs that you have the best chance to qualify for.
- Do not get another mca during the term of the transaction.
FAQ Frequently asked questions.
How much can I save daily?
Your business can lower the daily or weekly debits between 25% and 50%. Some programs can lower them as much as 75% and convert into weekly or monthly debits.
How does the consolidation work?
A merchant cash advance consolidation is usually one funding used to payoff several smaller ones. The goal is to lower total daily debit by extending the term, lowering the rate, or both. Some programs are structured differently or give you a longer term to payoff the current debt while others have a shorter term.
How do we qualify?
Qualify based on cash flow. It should be 30 days since your most recent advance closed and you should be current. Lenders want to know you can meet your obligations now before being approved.
How does a reverse consolidation work?
A reverse consolidation covers the ACH on your existing advances while you make a much lower one on the reverse. During the term of the transaction, the other daily debits you had before drop off until you only have one payment left.
How we can help
You may be in a position where it must extend out the term of current positions. We can assist in paying off 2, 3 or 4 other mca’s and lowing your payment as much as 50% or more.
Tips on how to get approved:
– Make all of your payments on time.
– Wait until 30 days after the most mca closes to apply. Most requests are declined if new funding is deposited into your account in the last 30 days.
Lenders want to see how a company is paying it’s most recent debt before it approves.
– Don’t have more than 5 overdrafts or 5 NSF’s per month.
Program Features:
– No net funding requirement.
– No maximum number of positions.
– Consolidate with Daily, weekly, bi-weekly, and monthly programs.
We try to tie payment frequency to your deposit volume. The main things looked at are:
The repayment history on current advances.
– If we are materially cheaper, and if your company has been able to pay your existing higher cost mca’s with minimal NSFs, we will aggressively pursue a consolidation.
– Deposit volume and consistency are reviewed. Are your deposits enough? Or are they under $10,000 a month?
If deposits vary significantly from month to month, we will typically look at the lowest month when calculating an amount to offer.
Up to 1.25 times your deposits with a 6 to 12 month term are offered.
– (NSF) insufficient funds and overdraft frequency are looked at.
Other features and products:
1. Advances are available in almost all states EXCEPT California. Term options are available.
2. Your future consolidation is more like a like of credit. A merchant can request additional capital at anytime from us.
We will quickly re-underwrite it with no fee and offer additional funds and keep your scheduled payment the same.
Renewals
You do not have to pay off your current advances to consolidate or get more money.
Your Company saves money at renewal and will not pay interest on interest if you renew for premium programs.
– Low or no origination and underwriting fees. Fees as low as $250 to consolidate 3 to 4 positions, $500 to $750 for 5 or more. No NSF fees or other junk fees are charged.
– The maximum initial funding is $100,000.
– This is first position funding only. This funding can be the only funding following a consolidation. A standard line of credit, credit card split loan, traditional bank loan.
– SBA loan, car loan, student loans and home loans can be left in place.
– Daily, weekly, bi-weekly, and monthly payment options are available.
Need help creating a business plan? Visit the SBA