An asset based consolidation loan is an option if you have enough commercial or personal real estate or property to properly secure this type of loan. An asset based loan will allow you to consolidate as many MCAs as you have sufficient collateral to cover. You also have options such as an MCA and business debt restructuring company such as us. Through our restructuring program, we are able to restructure your agreement with your lenders, giving you a more manageable payment and payback schedule. Consolidating your payments into one payment is also part of the restructuring process. There are also the options of mid-prime funding, private investment banks, and companies that specialize in cash advance consolidations.
Each option will have different requirements for getting approved. It always a good idea to look into the different options in more detail and see which is most fitting for you. You can accomplish this largely through online research and even more so by calling some of the companies or institutions you come across and that look reputable during your research.
Benefits of Consolidating Merchant Cash Advances
Besides the obvious benefit of only having one payment, what are some other benefits of consolidating cash advance loans? Many times you can get a more attractive payment schedule. Rather than a daily payment, you could set it up on a monthly payment with the right MCA consolidation. You will, most likely, get a lower interest rate. Longer payback term. This is great when combined with a lower interest rate. When you combine the convience of one payment with a longer term and lower interest rate, you can really see the advantage of when you consolidate MCA debt.