Chat with us, powered by LiveChat

Merchant Loan Debt

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
CAN Capital Mantis Shizoom
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.