Who this page is for
For Oakland owners who already carry one or more merchant cash advances and find that daily or weekly debits are taking too much. If you are looking for a first advance, see the merchant cash advance page.
Oakland businesses often take advances at a high point. A restaurant opens strong, a hauling company lands a big contract, a shop prepares for a rush. Wikipedia describes a city whose economy rests on the port, large employers and a growing hospitality scene, all of which include stretches of strong and weak cash flow.
The squeeze, step by step
- The advance is sized on deposits during a strong stretch.
- Deposits fall for reasons that have nothing to do with the debit: a shipping delay, a slow season, a customer who pays late.
- The debit stays the same.
- The owner takes a second advance to keep up, and the first problem doubles.
For illustration only: a trucking subcontractor depositing $5,000 on busy days and $1,800 on slow ones, with a $750 daily debit, hands over 15% of a busy day and about 42% of a slow one. The slow days are what hurt.
What relief is, and what it is not
MCA relief aims to ease the payment load of advances you already have so the business can operate at a pace it can sustain. What it looks like depends on balances, schedules and statements, which is why we review them first. It is not a promise of a particular reduction and it does not suit every case. If the business is healthy but the payment structure is wrong, relief is worth exploring. If revenue has collapsed, the first conversation is different.
What to prepare
| Item | Why |
|---|---|
| About three months of business bank statements | Shows deposits and every debit |
| List of advances | Holder, schedule, approximate balance |
| Your slowest and busiest weeks | Shows how heavy the payment is at its worst |
Do not stop payments on your own.
Why it helps to act before a missed payment
Owners tend to wait until a payment bounces. By then the picture is worse: overdrafts, a second advance and a rushed decision. A review that starts while payments are still current leaves more room to find a workable structure. The facts needed are the same either way, but an owner who arrives early can show a business that is still operating normally, with a payment structure that no longer fits.
Gather the statements, list the advances and write down your slowest weekly deposit. Those three things make the review concrete and keep it short.
Next
We consider FICO scores of 500 and above, ask for about three months of business bank statements, require no tax returns, and use a soft credit pull on a five-minute application. Funding runs from $25,000 to $5,000,000, and sole proprietors can apply. Other tools include working capital, a line of credit and revenue-based financing. Apply here.