MCA FEES

   

 

     How Do We Restructure Your MCA To Make Your Fees Affordable?

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     Getting a Merchant Cash Advance for your business has never been easier. Its much easier than getting a traditional loan or line of credit from your bank. It seems like the MCA companies know when your business needs money most and they contact you at just the right time.

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     To qualify for your MCA, you simply provide 3-4 months of business bank statements. The MCA company takes an average of your gross income over this period and funds your business based on the 3-month average. We call that your top-line or gross revenue. That number is then multiplied by 1.4 (most cases) equaling to 40% over what they are advancing you. Ultimately you are selling them 140% of your future business. And here’s the fun part…your MCA company funds you with a cash deposit of approximately 90% of the base asset purchase! $100,000 in future accounts receivable net you $90,000 in cash deposits and you are left with $140,000 in debt. As part of your agreement with the MCA you must give them access to your operating account to deduct their payments on a weekly or even sometimes a daily basis. This is the hold back or pay back rate at approximately 15% (industry average). The rate and frequency of the deductions from your business account skyrocket your interest rate to greater than 200%. quickly making this financial instrument unaffordable for your business.

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     You soon realize your business may not be able to keep up with the payments no matter how profitable and successful you are. And, if you have more than one MCA, your business is in jeopardy of defaulting on payment which all too often triggers a lawsuit for collection. Multiple defaults causing multiple lawsuits, will you have seriously contemplating filing for bankruptcy protection.

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   Restructuring your MCA payments is one of the fastest ways to get your business back on track financially.

 

     By simply lowering your daily or weekly payments and extending out the payment term of your agreement your payments can actually be made affordable. We lower your daily or weekly payments in some circumstances, by half or more of what you're paying out to your MCA companies- this is known as your debt service. Imagine what you could do with all of the cash  that is no longer designated to weekly or daily MCA payments.

 

      We get calls from businesses every day telling us they can't afford their MCA payments anymore and can we help them.

       

      This is how we do it...We start by doing a true accounting of how much merchant cash advance debt your business has by looking at your MCA contracts. We find out how much of your accounts receivable was purchased and for what it was purchased for, you rates of payback and the length of your contract- until your advance is paid in full. Next, we do an accounting of how much you've paid back to the penny and how much you still owe. We then look at how your business is performing in the months prior leading up to the advances becoming unaffordable.  

     MCA funding is typically approved based on your total monthly income or your top line revenue (3 month average). This qualification process is flawed from the onset as businesses pay their debt service from their profit or their bottom line. Simply stated, this means as a business owner you pay your debt and long- term liabilities after you pay your daily operating expenses more commonly known as your bills- materials purchases, labor & payroll, equipment repair, utilities, insurance, rent, etc. What's left after satisfying these expenses is where the budget for your debt service should come from. This is where we begin the negotiation with your merchant cash advance companies. The numbers don’t lie and the truth will set you free. It’s an accounting process, not guesswork, its math not theory and its result not empty promises. You are well represented in this process by seasoned professionals with insight, experience and a track record of success.      

   

     

       Negotiations are focused, productive and mutually beneficial as we present your current financial condition which is...

 

 

 Your merchant cash advance is unaffordable, and you qualify for a reduced payment.

 

     We hold MCA finance companies accountable, and we provide solutions to financial dilemmas that otherwise tear creditors and borrowers apart. We use a proprietary accounting system to determine what your business can realistically afford. Arbitrary figures and guess work have no place here. Generally accepted accounting principles lay the groundwork for transparent and productive exchanges that lead to affordable resolutions.

     

     When the proper preparation is done, negotiation are swift, effective and typically completed inside of 5-10 business days. Within two weeks after engaging Ignite, you can have new, reduced and affordable, payment schedules with all your MCA obligations. As a result, the demand on your income is dramatically reduced restoring viability and promise to the outlook of your business and its future growth. .  

 

     We are proficient and effective for a host of reasons, relevant, practical experience at the top of the list.

The core of the Ignite team features our founder and CEO, Joseph Tringali. Briefly stated, he is a former attorney, bank-lender and road analyst out of the state of New York. Joe’s professional resume and body of work are the driving forces of the Ignite debt- refinancing and focused consulting concepts. His insight into and understanding of the Merchant Cash Advance industry is unmatched anywhere on the planet.       

 

    The home of the Merchant Cash Advance Industry is the state of New York. Most of the MCA companies are headquartered and operate out of New York City, Rockland County, NY and Lakewood New Jersey. Consequently, the MCA agreements are venued in or governed by the laws of the state of NY.  Their agreements account for dispute resolutions and the venue for litigation- yes, also in the state of New York. As a result, when an MCA files a collection lawsuit against a merchant or borrower that has defaulted on payment, they file the action in the New York Court system. An appearance or the filing of an answer, also in the New York system, is then required by the merchant, to protect his/her rights in the eyes of the court. This has to be done by a lawyer licensed to practice the state of New York. We do just that- we get your company properly represented as step one. Additionally, we respect the long, mid and short -term financial and practical needs of your business; we add business acumen to the equation as a vital part of the settlement and global resolution strategy.   In the end, voluntary payment is what is sought after and voluntary payment is what is given. The distinction is simply consistent payment because it is affordable opposed to inconstant and missed payment because it was not affordable.         

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       Let's repeat this...We reduce the amount you are paying daily or weekly based on what a financial analysis uncovers. This process can cut the payment demand in half or more. This process is based on two factors: simple math and voluntary disclosure. It’s not back-channel relationship or a pre-arranged, arrangement- it’s just the culmination of time and effort commonly known as work. This concept is well known to business owners in support and defense of their creation and enterprise. To reiterate, this process, while not the simplest effort ever made, typically gets done in 5-10 business days. This is literally  DONE inside of two weeks of engaging Ignite. New payment schedules that support your business replace burdensome cash-flow nightmares.

                                     

      Imagine what you can do with all that extra cash flow!?!

      

        The end result...is you are thrilled with your new payments that now take the pressure off you and your business.  Payments you NOW can afford and the swift and timely result you needed!

        Your merchant cash advance company is satisfied because you have voluntarily agreed to honor your contract and pay off your balance as agreed.

        Ignite simply provided a focused service at a time of need and a perplexing dilemma was resolved! Support businesses in growth mode… THAT’S WHAT WE DO!   We believe that small business is the life blood of our economy. We look forward to helping you.

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Call Us Today to Have Your MCA Fees Restructured...

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(888)503-5270