The Merchant Cash Advance Trap
You Can Settle Your Merchant Cash Advance Loan!
As a small business owner, there is nothing more important than keeping your business up and running. Sometimes this means asking for a little financial help to make repairs, buy new equipment, or simply upgrade your look. But now you find yourself buried under high interest rates and difficult contracts. This story is all too common.
If you were denied a loan from the bank and were forced to look elsewhere for extra capital, then you are most likely taking out a merchant cash advance loan. Unfortunately, many merchant cash advance providers take advantage of small business owners with extremely high interest rates and short repayment periods.
Not All Business Loans Are Equal
Getting a merchant cash advance can be the equivalent to offering your leg to purchase a foot. Because you need the money, merchant loan lenders see you as vulnerable and often hide exorbitant interest rates in their contracts. This can keep you indebted to lenders for long periods of time, so much so that it might create the need to take out other loans to cover previous loans.
If you have merchant loans and you’re afraid of their effect on your small business, let BizRelief negotiate with your MCA lender to end your contract and pay back less than you owe.