Processing Credit Cards Again Feels Great 💳 💪

A thunderstorm short-circuited almost all of our computers, ovens, and stoves. This loss devastated our operations and we felt we had no choice but to take out an MCA to purchase new equipment.

Our initial Merchant Cash Advance helped us buy newer, more efficient equipment to maintain operations and purchase preventative equipment so we can avoid catastrophic events from happening again. The MCA provided short-term relief and hope.

Little did we know that business slowed down dramatically, preventing us from meeting the daily payments. We were faced with a serious financial dilemma. We ended up taking another MCA to lower our monthly MCA payment and pay off the original MCA, however it did extend our commitment by almost double the original timeframe. Again, the 2nd MCA provided temporary relief.

After a few weeks of payments, again we faced hardship and could no longer take the strain on our cashflow. I reviewed the agreement and realized that I am paying almost $150k on a $44k loan, and it was hurtful to know that I was paying more than triple the principal. We had no choice but to stop our credit card processing & accept only cash at my restaurants until we had enough reserve to take on the restricted cash flow again.

I contacted Eastern Financial, who were very professional with me & showed me a great financial path to getting out of business debt. They created an 8-month program and I was able to get the payments cut by almost 60%, inceasing our cash flow dramatically while paying off the debt.

Thank you Eastern Financial, for negotating wonderful terms on loans I took to help me get out of them fast. My employees and I are so happy that I found Eastern Financial Partners!

- Lisa M, Owner*