Business Debt Consolidation Options
Simple. Fast. Debt Consolidation Options.
Simplify your finances with a single, lower, fixed monthly payment.
Debt consolidation combines several loans or merchant cash advances into one loan — ideally with a lower interest rate that could result in lower payments and a shorter repayment period. Debt refinancing means you take out a lower-interest loan and use it to pay off the original, thereby saving money.
Business debt consolidation may be something worth considering if you’re carrying multiple business loans. Consolidating business debt is a way to streamline your debt repayment into a single monthly payment, ideally at a lower interest rate. It can make repaying business debt more manageable, and potentially, more affordable — especially if you’re looking to consolidate high interest forms of financing like credit cards, lines of credit or merchant cash advances.
Is a business debt consolidation loan the right move for your business? And how does it actually work?
Dive in to learn the answers to those questions and more about business debt consolidation.
How does small business debt consolidation work?
Consolidating small business debts isn’t that different from consolidating other types of debt.
The process works something like this:
You decide which business debts you want to consolidate.
You get approved for a new business loan, which you use to pay off the loans you wanted to consolidate.
From there, you make payments to the one new loan, according to the terms set by consolidation lender.
Of course, there’s a little more to it than that, but that's where BBB comes in to give you honest answers and quick results.
Contact us today to set up a meeting and find out more about what BBB can do for you.
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SBA Loans/Grants For Small Business
Congress just passed a $4.5 Billion Dollar Relief Package for Small Businesses, but this money will go fast, so YOU HAVE TO ACT NOW TO GET IT...
Money for the original Payroll Protection Plan (PPP) ran-out quickly, and now many banks and lenders have stopped taking applications, but BBB is accepting New Applications, which will be assigned to the SBA for this next round of relief funding.
This way, you'll get funding faster. That's because you signed-up sooner, and this money is available on a FIRST-COME FIRST-SERVE BASIS, so you'll be nearer to the front-of-the-line when the new relief money is distributed
The SBA has both GRANTS & LOANS for Small Business owners. Loan Interest Rates are less than 1% interest and Grants never need to be repaid.
These special GRANTS provide an "emergency advance" of up to $10,000 to small businesses and private non-profits harmed by COVID-19 .
The advance does not need to be repaid under any circumstance, and may be used for business purposes, such as payroll or paying sick leave, or paying business obligations, like debts, rent and mortgage payments. (See p. 28, Section 1110(e)(5) of H.R. 748 (CARES Act))
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