Transform Merchant Cash Advance Consolidation Into Instant Advantage
The consolidation process typically involves the following steps:
- Assessment: A financial advisor or consolidation service will evaluate your current MCA obligations, including the total amount owed, interest rates, and payment schedules.
- Negotiation: The service will negotiate with your lenders to secure a more favorable repayment plan. This might involve extending the loan term or reducing interest rates.
- Consolidation: Once terms are agreed upon, the individual MCAs are paid off, and a new, consolidated loan is established.
- Repayment: You make a single monthly payment to the consolidation service, which then distributes the funds to the original lenders.
