While merchant cash advance loans can sometimes be helpful for a growing business, their outrageously high-interest rates often make them a serious liability. When businesses are unable to secure the cash flow they need, they can easily fall behind on payments. As a result, they may resort to getting additional financing to keep up with difficult terms of their loan.
This temporary fix adds the weight of more payments and more interest. In a vicious cycle, desperate business owners continue this process over and over, hoping to hold on until their business becomes profitable enough to pay off their multiple loans. However, stuck with several high-interest loans, they often find that they are only falling further behind, unable to make the agreed payments. Upon defaulting on your loan, you will most certainly encounter the aggressive, harassing collection techniques employed by the industry.
Are you tired of all the rude phone calls and threats of legal action? What can you do?
Call National Credit Partners for a free, no-obligation business debt consultation. We will work with you to discuss your options and create a strategy to protect your business. National Credit Partners can help you restructure your daily debit payments with weekly or monthly payments. We will be your business’s advocate and help you get more favorable terms from creditors, this way you can focus what you do best…running your business.