Are your daily payments choking your business? Are you going in to a slow period in your business? Do you need to free up some cash for a purchase? It so happens that you’ve been getting calls from "loan stackers" probably 3 times a day begging to give you more money! Ever wonder how they got your number?
If you’re unfamiliar with the term "loan stacking" don’t worry you’re not alone. Loan stacking is where a loan is approved on top of a loan that is already in place. Here’s how it works. You go a lender like Bizbloom and get financing for your business. A UCC filing is typically made with the state. This notifies the public that your business has existing debt.
Then like clockwork a shady lender that you’ve probably never spoken to before, sees the UCC filing, calls and says, "I see you recently got a loan from Bizbloom. Could you use a little more? How does 10,000 more sound?" You might not know the dangers of stacking and need the money so you say "SURE!!" It creates a situation that hurts the business and could ultimately create unmanageable debt.
Unfortunately lenders like this revolve their entire business around this model, detecting recent loans made by a first reputable lender and like a leach shadows their work to attempt to stack one of their loans and suck the business dry.
So what if you find yourself in a situation where you have no choice. Your business is going into a slow season and you need some extra cash to keep going or maybe what you need is a little payment relief. Enter Payment Releaf. We understand things come up and it is why we at BizBloom created this exclusive product. Here’s how it works. Instead of adding additional maybe unmanageable debt we cut your payments in half for a certain period of time giving you the peace of mind you’re looking for without the dangers of stacking. We like to call it the "Stacking Slayer." We cut your payments in half, free up more cash, prepare you for a healthy refinance.
Stop Stacking… Start Slaying! Because sometimes the best way to add is to subtract