Being a leader in this industry, Silverback Funding Group offers quick and simple financing programs for various businesses throughout the country.
A merchant cash advance provides business owners with quick access to capital for all types of business needs. An MCA is generally paid back by remitting a percentage from your total sales. As you continue making on-time payments, your business’s credit score will also improve. If you decide to pay your loan off early, you may have all remaining interest waived or reduced without any penalties or fees.
Merchant Cash Advance
Get on demand access to a revolving line of credit. Once approved for funds, decide how much capital you wish to withdraw. Then, only pay for what you withdraw. Continue to make payments and replenish your available credit line as you go. Similar to MCA and Term Loans, continue making on-time payments to strengthen your business’s credit score.
Lines Of Credit
Term Loans can be a great option for financing growth for your business. Similar to an MCA, you will receive a one-time lump sum of capital once approved. However, with Term Loans, you may be eligible to pay back your funding over a longer duration. Term Loans average anywhere from 10-36 month to pay back the loan depending on your business’s qualifications.
This form of financing will buy out and pay off all current cash advances a business has, then replace them with a more affordable loan. Consolidating can also help reduce your total interest accrued from several outstanding loans. The new agreement will offer a longer term for repayment, which lowers the overall payments for a businesses in need of regulating their current cash flow. Consolidation gives businesses relief from feeling overextended from paying off multiple loans.