Having trouble paying off your merchant cash advance from Everest Business Funding?
Merchant cash advances, like those from Everest Business Funding, can lead to trouble for businesses. These loans are often temporary solutions that can cause long-term debt problems.
Tayne Law Group P.C. has more than two decades of experience helping businesses get out of debt and avoid bankruptcy. Our team of strategists can work with you to help you pay the debt, avoid bankruptcy, and get your cash flow back on track.
Everest Business Funding claims to provide merchant cash advances (MCAs) to small businesses looking for alternatives to traditional small business loans. Merchant cash advances are short-term business financing options that generally come with very high APRs. As a result, businesses may struggle to keep up with payments while managing other expenses. Businesses often take out MCAs because of the ease and convenience but may end up in default or trapped in a debt cycle.
Falling into this trap with Everest Business Funding isn’t your only option if your business needs financing. Short-term loans can be helpful for businesses struggling to qualify for traditional loans. Lenders are typically more lenient because repayment terms are generally only around three years.
Additionally, lines of credit work similar to a credit card. Revolving credit allows your business to borrow what and when you need at a more favorable interest rate. Therefore, consider alternatives that reduce your debt, improve your cash flow, and don’t keep you up at night.
Tayne Law Group will put your business’s specific needs at the forefront of our strategy. We’ll work with you to find an agreement that makes sense for your business, your budget and the creditor. Additionally, we’ll never ask you to go deeper into debt. Therefore, get started on the path to a better financial future for your business by calling Tayne Law Group today. The call is always free! 1-866-890-7337. Or fill out the short form below and we’ll contact you.
FAQs about Everest Business Funding
Q: What is Everest Business Funding?
A: Everest Business Funding claims to provide working capital to small businesses through merchant cash advances from $5,000-$1 million. The capital can be used for payroll, renovation expenses, opening new locations, equipment purchases, etc. The company claims to work with businesses in industries such as healthcare, food service, trade, seasonal business, and retail.
Q: Why would a business work with Everest Business Funding?
A: The company claims to have flexible funding options and an easy application and funding process, with an approval decision and access to funds in 24 hours. As a result, the ease, speed, and convenience may be tempting to business owners in need of fast cash.
Q: How are merchant cash advances repaid?
A: A business repays a merchant cash advance by guaranteeing a portion of the business’s sales to the creditor on a daily, weekly, or monthly basis. Therefore, based on the loan term and the business’s success, APRs on merchant cash advances can reach triple digits.
Q: Where is Everest Business Funding located?
A: 8200 NW 52nd Ter.
2nd Floor
Doral, FL 33166
5 West 37th Street
Suite 1100
New York, New York 10018
