Struggling with business debt from QuarterSpot?
If you are behind in payments on your business debt, you’re not alone. Many others have borrowed thinking it would help their business just get by until more money came in. Business financing alternatives and business loans, like those offered by QuarterSpot, can be difficult for businesses to manage, especially while trying to keep up with other bills.
Quarterspot was a lender that claimed to offer fast access to business funding up to $250,000. Quarterspot stopped making new loans in 2020. The technology assets of QuarterSpot were purchased by Lendio in 2021.
In many cases, these merchant cash advances, which are really business loans under a different name, can become a nightmare for businesses. Dealing with high rates or APRs, businesses often struggle to make payments on business loans or MCAs while also trying to manage other expenses.
Your business doesn’t have to go through this kind of struggle. There are solutions and alternatives to merchant cash advances, like those from QuarterSpot. Your business may consider a line of credit, which works similar to a credit card and typically has a more favorable interest rate than a merchant cash advance. Short-term loans can also be an option. Because of the shorter repayment term, qualifying criteria are often more lenient than for a traditional loan.
Solutions offered by Tayne Law Group’s make sense when you’re struggling to manage your business debt from companies like QuarterSpot. With our experience and reliability in the industry, you can trust that you’re in the best possible place. Tayne Law Group is made up of professionals who will be on your side. We are not a cookie-cutter, one-size-fits-all debt settlement or debt consolidation company. With no interest and no monthly service fees, your business can resume operations without the worry of bankruptcy. Our team will never ask you to take on more debt. The future of your business needs a positive change now. We are standing by to speak with you about how we can help – the call is always free! 1-866-890-7337
FAQs about QuarterSpot
It was a company that offered funding to businesses in the form of merchant cash advances up to $250,000.
The company claimed to offer access to funds within 24 hours. Additionally, the company stated that borrowing will not impact your personal credit and can help build your business credit.
Businesses repay merchant cash advances or business loans, like those from QuarterSpot, by guaranteeing a portion of their sales to the creditor. The borrowing business makes these payments frequently, often on a daily or weekly basis, which can lead to high interest or APRs and paying back substantially more than you borrowed. Loan terms on business debt or MCAs are often short, generally ranging from 3-12 months.
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