Pennsylvania Merchant Cash Advance Attorney
A merchant cash advance (MCA) can trap your business in a cycle of burdensome repayments. These advances might seem like a quick fix when cash flow is tight, but they often lead to unmanageable debt. Pennsylvania businesses struggling to repay an MCA can find a lifeline in Merchant Cash Advance Law Firm P.C.
The MCA Attorney Who Fights For Pennsylvania Businesses
Dominick Dale is the lawyer Pennsylvania business owners turn to when faced with MCA troubles. He is both aggressive and capable of dealing with these complex matters, as well as fiercely protective of his business clients. Dominick knows what you are going through because he has seen countless Pennsylvania businesses suffer under the weight of an unfair MCA agreement. His relentless approach ensures that MCA companies don’t steamroll you.
Understanding MCAs Vs. Small-Business Loans
MCA providers advertise their services as a safe alternative to a traditional small-business loan from a bank. But how are they different? Let’s break it down.
Merchant Cash Advance
With an MCA, the company offers you a lump sum, called a Purchase Price, against your future credit card and debit card sales at 0% interest. In return, you agree to a fixed payback amount, known as the Purchased Amount. You are on the hook for payments almost immediately, on a daily or weekly basis. Those payments continue until the debt is cleared. This can lead to severe financial strain if your future sales don’t meet expectations. Also, there is no advantage to paying it off early because the total payback amount is fixed.
Bank Loans
A small-business loan works differently. When a lender gives you a loan, you repay the principal amount plus interest over a set period. If you pay back the loan faster, you save on interest. This flexibility can significantly reduce the total cost of borrowing. Unlike MCAs, these loans are heavily regulated by state and federal law, including limits on the interest rate the bank can charge you.
The Key Differences
The cost and repayment terms are the major differences between an MCA and a small-business loan. With a loan, the interest incentivizes early repayment, making it cheaper if you repay quickly. An MCA, however, demands fixed payments regardless of your sales performance. This can lead to severe financial strain if your future sales don’t meet expectations.
Why Choose Merchant Cash Advance Law Firm P.C. To Help
Dominick Dale’s aggressive tactics ensure MCA companies are held accountable. He understands the Pennsylvania MCA landscape and fights tirelessly for his clients. Dominick’s commitment to protecting Pennsylvania businesses sets him apart. He knows how these MCA agreements can devastate your business, and he’s here to help you fight back.
Contact Merchant Cash Advance Law Firm P.C.
Call 347-588-5590, toll-free 855-339-6593 or use our intake form to schedule a consultation with Merchant Cash Advance Law Firm P.C.