Business Debt Relief

There’s always a time when a little more cash might be needed. For some small business owners, merchant cash advance loans look attractive because they’re a way to get the necessary cash right away. That cash can then be used for anything the business needs, whether that’s getting back on track or pushing forward and expanding. Unfortunately, it’s all too easy to get behind on payments or end up defaulting on these loans. When this does happen, small business owners can turn to us for help with their Merchant cash advance legal issues.

Merchant Cash Advance Loans

When a business needs money, there are small business loans available. Unfortunately, it can be difficult to get a loan from banks and other large lenders. Business owners looking for unsecured business loans may end up getting an MCA or merchant cash advance loan. This type of loan doesn’t require collateral, and the funds could be obtainable in as little as 24 hours. However, the main concept behind this type of loan is that the business is borrowing against future earnings. With these loans, defaulting may be more likely than expected, and it can have devastating consequences.

Getting Behind or Defaulting

Business owners might find an MCA loan attractive, but they may not realize how easy it is to default on the loan or what happens when you default on a merchant cash advance loan. A merchant cash advance default can be considered a breach of contract. What this means is that the business owner could be sued for failing to repay the loan on time. On top of this, depending on the agreement’s terms, it may be possible for the lender to go after business and personal assets in the event of a business loan default. For many business owners, this could be devastating and could lead to the end of the business if they can’t find a solution to prevent or fix the default.

How We Can Help

Business owners who have an MCA loan or other unsecured business debts and who are in default or likely to default will want to get help with merchant cash advance relief as soon as possible. Today, there are new options available for small business debt relief, and these may be able to help business owners avoid defaulting or catch back up on the loan payments. We can help business owners who are likely to default or who have already defaulted by reviewing the lending terms and determining the next steps to take. This might include taking advantage of economic recovery packages or emergency grants or restructuring the MCA loan terms to make it easier to repay in full. If you’re at risk of defaulting on an MCA loan or you have already defaulted, we can help you find the right business debt relief options for your situation. Our team will make sure you get the help you need so you don’t suffer the often devastating consequences of a default. Contact us today to learn more about what we can do to help you.