FAQs about LG Funding, LLC
Q: What is LG Funding, LLC?
A: It is a company that offers working capital to businesses in the form of merchant cash advances.
Q: Why would a business take out a merchant cash advance?
A: Merchant cash advances are often quick and easy ways for businesses to receive financing. They are often easier to qualify for than traditional bank loans and therefore better suited to those with poor or no credit. Funds are also generally available within a few days, making merchant cash advances appealing to those looking for fast access to cash.
Q: How are merchant cash advances repaid?
A: Businesses often borrow merchant cash advances as short-term loans, with terms ranging from 3-12 months. The business repays the MCA on a daily, weekly, or monthly basis through a percentage of its sales. As a result, businesses may pay very high interest rates, with APRs sometimes reaching triple digits.
Q: Where is LG Funding, LLC located?
A: 1218 Union St Ste 2
Brooklyn, NY 11225-1512