Most Popular Questions
We help you see the world differently, discover opportunities you may never have imagined and achieve results that bridge what is with what can be.
Answer: A Merchant Cash Advance (MCA) is a financial product where a business receives a lump sum of cash in exchange for a percentage of future credit card sales or other recurring payments. Unlike traditional loans, MCAs are repaid through a fixed percentage of daily or weekly sales, rather than fixed monthly payments. This makes MCAs a flexible and accessible funding option for many businesses, especially those with fluctuating cash flow.
Answer: Working with MCA Advocates offers several benefits:
- Expert Settlement Assistance: We help you understand and negotiate the terms of your MCA to ensure you get the best possible deal.
- Cost Reduction Negotiation: We work with funding providers to reduce the overall cost of your MCA.
- Financial Planning and Advice: We provide tailored financial advice to help you manage your cash flow and plan for future financial needs.
- Ongoing Support: Our ongoing management services ensure you stay on top of your MCA obligations and make informed decisions.
- Transparent Communication: We maintain open and transparent communication, ensuring you are always informed about your MCA status and next steps.
Answer: We help businesses settle MCAs through a comprehensive process:
- Initial Consultation: We gather information about your business, loans, and debts.
- Expert Review: Our team reviews your MCA agreements to identify any potential issues.
- Negotiation: We negotiate with funding providers to secure better terms and reduce costs.
- Settlement: We work to reach a fair and favorable settlement that benefits your business.
- Ongoing Support: We provide continuous support to ensure you stay on track and make informed decisions.
Answer: Getting started with MCA Advocates is easy:
- Contact Us: Schedule a free phone consultation by calling us or filling out our contact form.
- Initial Consultation: During the consultation, we will gather information about your business and financial situation.
- Make Your First Payment: Upon receiving your initial payment, we take over all communications with your creditors.
- We Take Over: We contact your creditors and start the process of resolving your financial issues.
Answer: An MCA differs from a traditional loan in several ways:
- Repayment: MCAs are repaid through a percentage of daily or weekly sales, while traditional loans have fixed monthly payments.
- Collateral: MCAs typically do not require collateral, whereas traditional loans often do.
- Approval: MCAs are usually approved and funded faster than traditional loans.
- Cost: MCAs can be more expensive in terms of the total cost of funds due to higher effective interest rates.
Answer: Our services are designed to be affordable and transparent. During your free phone consultation, we will provide you with a quote for an affordable monthly payment. We also have a no billing policy to ensure transparency and fairness.
Answer: The MCA settlement process can vary depending on the complexity of your case and the responsiveness of the funding providers. Typically, the process can take anywhere from a few weeks to a few months. We work diligently to expedite the process and keep you informed at every step.
Answer: If you have multiple MCAs, we can help you manage and settle all of them. Our team will work with each funding provider to negotiate better terms and reduce your overall costs. We provide a comprehensive approach to ensure you can manage all your financial obligations effectively.