Dave (not his real name) was waiting for a response on his business loan application. When it came, his loan officer told Dave that he needed to pay off the balance on two credit card accounts that Dave used for business expenses. If that happened, the Loan officer could pull a rapid rescore credit report and the score would probably qualify him for the loan he was requesting.
When you are already in process for a loan, any action you take could affect that loan. That is why Dave went to MCA-Merchant Cash Advance instead of doing a credit balance transfer. He was connected to a Cash Advance professional who put through the financing within two days and Dave was able to pay off the cards. Sure enough, the new score came in several points higher and two months later, Dave finally signed the business loan documents for financing to take his business to the next level.
Was it worth it? Dave thinks so. He said he wishes he was in position to pay off the credit cards with cash, but he did not have the liquidity in November. When you need to make your move quickly, an MCA can put you in position to take advantage of the opportunity, too. Visit MCA-Merchant Cash Advance to learn your options.