SECC consolidated all 15 debt and MCA positions at 6.5% APR
Los Angeles, CA (PRWEB) May 10, 2017
South End Capital Corporation (SECC) announced today that is has again delivered an affordable consolidation loan solution to a business faltering under the weight of expensive merchant cash advances (MCAs). "Most lenders don’t consider the natural gas and petroleum industries bankable," stated Noah Grayson, managing director of SECC. "So, this business and others like it are compelled to turn to MCAs for growth capital. Ironically, what should be a remedy actually forces a contraction as the company struggles to make costly payments."
In this particular case, the gas company had accumulated more than 15 different high-interest financing positions, some with APRs up to 92%. The prohibitive MCAs, equipment and alternative loans were costing the business over $100,000 per month. SECC consolidated all 15 debt and MCA positions at 6.5% APR, and amortized the loan over 13 years into one monthly payment of $47,559 (less than half of the previous monthly debt expense). SECC also provided the business $591,000 of unrestricted working capital for continued business expansion.
“Many business owners don’t know where to turn to consolidate their crushing merchant cash advances,” Grayson explained. “There are viable options available for those accumulating such positions to put a halt to their downward spiral.”
ABOUT SOUTH END CAPITAL CORPORATION
South End Capital Corporation (SECC) was founded in 2009 and is a nationwide, non-conforming lender (CA Finance Lenders License # 603 L334) providing collateralized and uncollateralized loans to business owners and real estate investors directly and in participation with third-party lenders. SECC offers easy online applications, excellent service, prompt responses and generous compensation to approved partners, plus custom tailored loans. Visit http://www.southendcapital.com or contact Noah Grayson at (888) 268.7778 x 5 / noah(at)southendcapital(dot)com.