Consolidation Loan Programs

OVERVIEW

Our consolidation loan program is a restructuring (a buyout of prior cash advances) of your obligations to get a better rate, and decrease daily/monthly payment obligations.

When you’re running a business your cash-flow is the lifeblood of the company. But getting financing isn’t a one size fits all scenario. Different businesses require different types of financing. Some considerations include your operating profit margins to determine the amount of interest you can afford. How quickly do you need to access your financing, and what payment  terms do you offer to your customers?

Merchant Cash Advance Consolidation

There are many different financing vehicles for you to choose from. One of the benefits of a Franklin Merchant Capital Merchant Cash advance consolidation loan program is that it is one that lenders like. It is essentially a merchant cash advance, which means it is an advance against future merchant credit card sales. This program allows you to get a consolidated loan against future sales so you can vacate existing merchant cash advance programs and consolidate them into one.

Businesses that have not properly assessed a merchant cash advance program before adopting one often start with a small cash advance, then another and another until they find themselves in a downward spiral chasing their money. A merchant cash advance consolidation plan can get you back on stable ground. 

By consolidating your merchant cash advance debts the right way, you can get your business on an upward trajectory, eliminate existing debts by leveraging your future sales, but at a better rate. Our program also allows you to retain a portion of your daily/ weekly sales going forward. The terms of such a consolidation loan are based on your level of sales, percentage of profit, and operating budget — to make sure that it is a win-win for both the business and the lending institution.

Consolidation Loan Programs

Business Debt Consolidation Loan

This is not much different from a loan obtained to use for personal financial difficulties. This type of loan is a reset of sorts; paying off all your debts and creating a manageable payment plan based on your profits, cash flow and operating overhead. It is a bulk loan where the lending institution will pay off all your cash advances to date, and provide you with a single monthly payment that allows you to reorganize your debt and pay it off over time.

Merchant cash advances are intriguing to businesses that are in a cash crunch. It promises quick cash, immediate relief. Used wisely it can provide the leverage to grow your business, especially if you’ve just landed a big contract that requires you to spend a chunk of money quickly to service the contract. But beware. Many businesses are quick to jump in and sign up for merchant cash advances without viewing the long term.

Merchant cash advances for all the good they can do, can also, if not properly managed eat away at your businesses cash flow until you find yourself one step away from broke, or worse. And it sneaks up on you without warning, as the fees are small, by daily or weekly, making it harder to see where such an arrangement is leading.

How Does a  Business Qualify for a Merchant Cash Advance Consolidation?

Your credit score will be reviewed — if it’s a reputable lender. Next they will assess your business in its entirety; they will evaluate your sales, operating overhead, profit margins, daily or weekly cash flow requirements, and then work with you to develop a program that you can afford.

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