Merchant Loan Debt Simplified
We negotiate merchant services debt! If you’ve found yourself in a situation where your debt is unsustainable or a burden, we may be able to help! It won’t cost anything to visit with us and learn what your options are.
For small business owners, Merchant cash advances may seem like a financial lifeline, but these loans come with a high cost.
A quick and easy way for small business to obtain funds, merchant cash advances have shown to have high interest rates and unsustainable repayment schedules. Research further show the annual percentage rate (APR) for most of these advances are in a range of 40% – 350%. This can be a debt-trap for many small business owners.
Additional Pitfalls of taking a Merchant Cash Advance:
Phone Calls: Be ready for additional phone calls from brokers. “Stacking” is an unfortunate side effect of the MCA industry. After a lien has been placed on you and your business, this information becomes publicly available after a period of time. From here lists are created and sold to brokers. The brokers contact to you and see if you need additional funds.
Credit Pulls: Although online lending has created a process that is efficient and streamlined, there are drawbacks. When you fill out an application, there is a chance your personal credit report is being pulled. Be wary of comparison shopping, unsuspecting consumers think they are researching different options only to find out their personal credit report is being pulled. Multiple credit reports pulled within a short time frame can be taxing on a person’s credit rating.
APR: As we stated above, APR’s on advances are extremely high. Even though this industry has become competitive, most of these APR’s on advances are still in the range of 40% – 350 for APR’s.
Have you worked with any of these companies?
|1st Global Capital||itria Ventures LLC||Quarterspot|
|Accord Business Funding||Kabbage||Queen Funding LLC|
|Ace Funding Source||Kash Capital||Quick Fix Capital|
|ADVANCE MERCHANT SERVICES, LLC||Lendini||Quicksilver Capital|
|Advantage Capital Lending||LG Funding, LLC||Rapid Advance|
|BFS Capital||Loan Builder||Roc Funding Group|
|Cascade Orthopedics||ML Factors||Silverline Service|
|Colonial Funding||MULLIGAN FUNDING,LLC||SPG Advance LLC|
|Credibly (Retail Capital)||Nextwave Enterprises, LLC||Strategic Funding Source, Inc. (SFS)|
|Dealstruck||Oceans 1212||Swift Capital|
|Forward Finanacing LLC||On Deck Capital||The Smarter Merchant|
|Fox Capital Group, Inc (FCG)||Orange Advance||Thryve Capital Funding LLC|
|Fundkite Funding||Paladin Capital Services Inc.||Total Enrolled Debt|
|GLD Factoring||Pearl capital||Vader Servicing LLC|
|Green Capital Funding||PIRS Capital||Vital Cap Fund (Emerald Group Holdings LLC)|
|High Speed Capital||Platinum Rapid Funding Group LTD.||Web Bank|
|IOU Central Inc. (IOU Financial)||Priority Funding||Wise Funding Group|
As business debt lawyers, McCarthy Law attorneys will sit with you personally, to understand more about you, your debt and your challenges, in order to come up with an all-inclusive plan. We have helped many, like you, find their way out of these challenging situations.
Merchant service account collection can be very aggressive. We negotiate with your creditor for large reductions in these debts. Let’s talk today at no charge.