How do I settle my merchant cash advance?

How do I settle my merchant cash advance?

Here are a few steps you can consider taking.
  1. Consolidate the Debt With a Term Loan. If your credit is in good shape, consider applying for a term loan and use the proceeds to pay off your merchant cash advance. ...
  2. Apply for a Secured Loan. ...
  3. Settle the Debt. ...
  4. File for Bankruptcy.

What is MCA debt?

A merchant cash advance (MCA) is a business financing option where you typically get a lump sum of money in exchange for a percentage of your future debit or credit card sales or income. Most businesses choose a merchant cash advance when they need quick capital or cash. ... It could put you out of business.