Conolidate And Payoff Numerous Debts With A Single Business Loan!
A Business Debt Consolidation Loan is used to combine multiple existing business loans, credit cards, merchant cash advances, and other lines of credit into a single loan account with a single payment at the lowest possible interest rate. The proceeds from the debt consolidation loan are used to payoff all other debts so the only remaining obligation is the debt consolidation loan.
A common practice among many small businesses is the practice of "stacking" multiple high interest loans, credit cards, and cash advances to secure the funds they need. Many of these credit cards may have come with low introductory interest rates and, when you applied for the loans, your monthly business volume was sufficient to handle the monthly payments associated with those multiple debts.
But, over time things change and perhaps the interest rates have now increased and business has now decreased and it's become increasingly difficult to stay current with the monthly payments. This can pose a significant financial strain on the business and significant stress on the owner.
If this sounds like you, a business debt consolidation loan can help!
If your business owes money to multiple creditors and you are having problems staying current on the payments due to changes in the business or marketplace, a debt consolidation loan is a sound strategy to help make monthly payments more manageable and, by lowering the effective rate, a larger percentage of each payment will go towards paying down the balance and not just towards paying interest, so the loan will be paid off much quicker.
In fact, if you do have multiple high interest loans and can qualify for a single low interest debt consolidation loan, it would be to your great advantage to do so as soon as possible!
For more information on CyoGate's Business Debt Consolidation Loans, please contact us today!
Single More Manageable Loan Payment With A Higher Percentage To Principal
A Business Debt Consolidation Loan is an effective strategy to improve business cashflow and has numerous benefits including:
Get The Help You Need!
At CyoGate, because our success is based on your success, we are always happy to help. Our professional team of Business Funding Specialists are available to help you find the best business loan and credit card processing options available.