Loan Consolidation for Miami Businesses
August 6, 2019
It’s often said that you have to spend money to make money, and in most cases, it’s true. The vast majority of Miami business owners end up having to take out loans in order to make their business run smoothly.
Every business owner has reasons to apply for loans—repairing a store, improving a marketing process, getting new equipment—but the result is all the same. Loans are obtained, and at times, can actually start to put a squeeze on a company’s profits.
Companies that feel the pressure of multiple loans are plentiful, but that doesn’t mean that your company needs to be one of them. Leo Capital Group has a loan consolidation program that can help you get back on track while paying less for your loans every single month.
WHAT IS LOAN CONSOLIDATION?
Loan consolidation is the practice of taking out a larger loan that offers lower interest rates or smaller monthly payments in order to help improve your cash flow. With businesses, this allows companies to improve their profit margin and ease financial pressure.
Consolidation loans are used to pay off debts that you incurred through other loans immediately. After the debt’s paid off to your initial creditors, the only payment you have left is the loan that consolidated everything for you.
WHY CHOOSE LOAN CONSOLIDATION?
Loan consolidation is an easy way to simplify monthly payments and avoid having high interest rates spiral out of control. For entrepreneurs who are currently fighting high interest lines of credit or difficult merchant cash advance situations, a loan consolidation can help ease the burden of debt before it becomes too much to handle.
HOW DOES LOAN CONSOLIDATION WORK?
Leo Capital Group currently offers one specialized loan consolidation program for companies in the state of Florida. This loan consolidation effort can be used to pay off regular bank loans, merchant cash advances, as well as other debts that may have been incurred.
To get started, you will need to have a secured loan through our company. This involves offering property or assets that can work as collateral should the loan become defaulted. For the state of Florida, the standard collateral that you will need to obtain loan consolidation is real estate.
If you are willing to offer collateral, you will be able to obtain a loan that consolidates the majority (if not all) of your debts into one single payment. We take care of your current loans’ payoffs for you, leaving you with a single monthly payment.
WANT TO LEARN MORE?
Getting your loans consolidated can be the lifesaver you need when your company is drowning in debt. If you want to make your cash flow easier to manage, this option is one worth considering. Each business requires a unique solution to their debt, so if you are unsure whether loan consolidation is right for you, call our office for more information.