We began 2017 with the mission to help as many small business owners as possible get out from under costly cash advances
Los Angeles, CA (PRWEB) October 10, 2017
South End Capital Corporation (SECC), named “Best” and one of “Top Ten Best” hard-money / bridge lenders in the US, respectively, by fitsmallbusiness.com and toptenreviews.com, announced today that is has reached a significant milestone in its effort to unburden small business owners encumbered by prohibitive merchant cash advances.
“We began 2017 with the mission to help as many small business owners as possible get out from under costly cash advances, so we set an informal goal of $20 million by year end,” explained Grayson. “We’re only through Q3 and I am so gratified that we have already exceeded our goal.”
Grayson pointed out that most small business owners don’t even realize the overall risk to their credit when they turn to cash advances: Taking out a single merchant cash advance will flag most conventional lenders to deem a business un-bankable—despite a business’s positive attributes or otherwise solid credit profile.
“Currently,” added Grayson, “there are very few options available to small business owners, to help them consolidate their merchant cash advances and get back on track to bankability and profitability.”
Most recently, South End Capital provided a $2.5M debt and MCA consolidation loan to an Akron, OH industrial finishing company, reducing its monthly debt expense from $54,207 to $17,699.
Such consolidations can be life-saving for a small business, Grayson explained. “When a business owner is used to making daily advance payments at over 100 percent APR and we deliver a monthly payment, 7 percent APR loan amortized over 25 years, it’s like a dream come true.”
ABOUT SOUTH END CAPITAL CORPORATION
Founded in 2009, South End Capital Corporation (SECC) is a nationwide, non-conforming lender (CA Finance Lenders License # 603 L334) providing small balance commercial and investment residential real estate loans, bridge loans, business loans, and merchant cash advance (MCA) consolidation loans.
SECC was named “Best” and one of the “Top Ten Best” hard-money / bridge lenders in the US, respectively, by fitsmallbusiness.com and toptenreviews.com. SECC offers a five-minute online application, excellent service, prompt responses, generous compensation to approved partners, and custom tailored loans. Visit southendcapital.com or contact Noah Grayson at (888) 268.7778 x 5 / noah(at)southendcapital.com.