Results
Client Experience
Large apparel printing company with $13 Million in Merchant Cash Advance loans retained MCAR to renegotiate the terms with their lenders OnDeck, Enova, American Express and others. This was extremely important as they had receive a large order, but were unable to pay due to the excessive weekly cash-flow draws. MCAR negotiated a 52% reduction in daily payments, extended the term of the loan for 100% payback of principal, and after 7 months the lenders all accepted a lump sum payment of the remainder balance for a discount. All accounts were marked as paid in full as agreed, and company was able to receive an SBA loan from MCAR and place that order.
Client Experience
Real Estate broker in Miami took on $280,000 in MCA debt to catch up on payroll and commissions due to a slow 2023. This 15 year veteran and its 27 realtors were facing a business closure. MCAR was hired, and was able to reduce the weekly payments by 68%. This extra cash flow allowed the brokerage to increase marketing, and get new listings to catch up on its debt obligations.
Client Experience
Manufacturing company took on a $650,000 SBA loan and a $350,000 working capital loan do get through the Covid-19 slowdown. MCAR was able to reduce the SBA loan interest rate by 300ps and restructure the terms of the working capital loan increasing cash flow by $10,000 per month, which allowed the business owner to start taking a salary again.
