What is Merchant Cash Advance(MCA) Debt?
If you are a business owner who has taken out a merchant cash advance (MCA), you may be struggling to keep up with the payments. An MCA is a type of short-term loan that is based on your future credit card sales. The lender gives you a lump sum of cash upfront, and in return, you agree to repay the loan plus interest and fees out of your future credit card sales.
If you are struggling to make the payments on your MCA, you are not alone. Many businesses have taken out MCAs and find themselves in debt because they are unable to keep up with the payments. Fortunately, there is help available.