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What’s a Reverse Consolidation?

Consolidating short term and unsecured business debt is one of the most frequent requests we get in the cash advance industry. Replacing existing cash advances with other products that lower the merchant’s indebtedness is often extremely difficult. If someone doesn’t already qualify for a bank loan or other secured loan option, they are going to have a tough time finding anything in the unsecured industry.

One option that has become more popular, and accessible, is reverse consolidation programs. Reverse consolidations can pay off multiple existing cash advance positions and free up a great deal of a merchant’s cash flow. Here’s how it works.

Let’s say merchant has 3 cash advances that they pay 5 days a week. A reverse consolidation loan will be disburse enough every week for the merchant to make those cash advance payments, and will only be paying down the replacement amount from the reverse consolidation lender. Merchants will therefore be spending far less every day paying their existing loans because the reverse consolidation is taking care of those payments.

If they’re not too over extended, a reverse consolidation may still allow the merchant to net some extra cash, but it’s usually not as much as a traditional replacement advance. Still, on average they will save a great deal more by removing multiple, expensive, daily payments, and replacing them with one. It also avoids keeping merchants in a situation where they have no other options but to renew multiple cash advances, which constantly adds to the businesses’ over-all indebtedness.

Many cash advance lenders have been expanding their reverse consolidation programs in 2018, and it remains a unique opportunity for small businesses to manage their unsecured, short term debt. Contact Main Street Finance Group today to find out if your business qualifies for a reverse consolidation program.

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Happy Holidays from Main Street – What’s Next in 2018

We’re wrapping up another year of helping our amazing customer base in 2017, with an eye on the New Year. Since 2014, we’ve been providing all the latest alternative lending programs that has made us so successful. Many things have changed, especially in the last year – but business cash advances and unsecured online lending is bigger than ever.

Here’s some of the bigger things that happened in our industry in 2017:

Tougher Competition – we’re used to providing comprehensive customer service and affordable rates for our customers – and those that aren’t, are closing up left and right.

Some of the biggest corporations in the world, from Amazon to Wal-mart to Paypal, are getting directly involved in alternative lending. Banks and credit cards are lending directly to their customers. Alt lending companies like Kabbage are opening up markets nationwide. Other nations like Canada and China also now have booming unsecured lending markets.

Bigger and Badder Data Breaches – the backbone of the cash advance economy is confidential digital data. While the big Equifax breach took up many people’s attention, many people have forgotten just how serious this problem has become. Multiple large-scale hack attacks, such as the “Wannacry” ransomware attack, effected millions of people around the world. Companies like Facebook and Twitter are now under constant scrutiny for the way they have been collecting, using, and in many cases, passing on, incredibly complex data on billions of individuals.

Long story short, people have good reason to be more wary than ever about sharing private and sensitive information on the internet. We’ve always taken our partner’s and customer’s security with the utmost seriousness.

Debt Relief Shenanigans – Every year, new unsecured lending programs come along that help widen the ways in which companies like ours can help our customers. However, not all of these ideas are helpful. Cash advance “debt relief” companies have become a serious problem. In fact, some of the earliest, and biggest debt relief companies of this type are becoming tied up in very serious litigation for encouraging merchants to default on their cash advances. Some of them have even taken to chasing merchants that have already defaulted through public court records, and offering them false promises of settlement.

These companies have created serious problems for many small business owners, tricking them into not paying advances that can risk their very own company. We do not recommend ever working with these types of companies, and do not do so ourselves.

We’re looking forward to offering the same great services like business cash advances, unsecured lines of credit, unsecured term loans, credit card processor savings, cash advance consolidation, SBA loans, and more in 2018. Call us any time to find out what you qualify for!

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How To Get A Business Cash Advance Loan With Bad Credit

Looking for a business cash advance on bad credit? It can quickly seem like an absolutely impossible task. However, it doesn’t have to be. If you are interested in a business cash advance bad credit solution, then you have come to the right place. You can find the small business loan you need, regardless of your current credit situation.

 

A cash advance business is ready to assist you. Get the money you need right now. Get through your current challenges and difficulties. Create a straightforward, effective foundation that will allow you to attend other aspects of your business. If you know without question that this is just a rough patch, and you have concrete plans for the future of your business, then a business cash advance is going to prove to be absolutely vital. It will allow you to navigate these uncertain waters with a great deal more confidence.

 

More importantly, that confidence will come from the tangible benefits of a business cash advance bad credit loan.

 

Getting Your Business Cash Advance Loan On Bad Credit

One of the great things about working with a cash advance business for a small business loan? Your credit history isn’t going to be a problem. The loan is extended based on the revenue of your business, rather than the current state of your credit. For this reason alone, these types of loans have a considerably higher approval process than some of your other loan options.

 

Furthermore, a business cash advance comes with the additional benefit of being a rapid solution to your problems. Other loan types for small businesses come with the cold reality of having to wait days, weeks, or even months to get the money you need. With this business cash advance bad credit solution, you can get the money you need quickly. In most cases, you can get that money in 72 hours or less.

 

Getting one of these loans couldn’t be more straightforward. A small business loan from a reliable cash advance business company can be obtained by giving out some basic personal information. You will also need to give some information about your business. These questions are easy to get through. There will then come a process of waiting for approval. As we mentioned before, you can get this approval for your loan in hardly any time at all. Make sure to understand all of the elements involved in the creation of your loan, including how you’ll pay it back.