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Refinancing credit card with an SBA loan can be challenging. You may have to show receipts for your expenditures and prove that all of the credit card debt was incurred as business debt. If you incurred these business charges on a personal credit card, it could be more difficult.
All the credit cards are in the business name, but the majority of the $175K would be direct
supplier payoffs on inventory.
An SBA Loan would be tough as a re-finance on credit cards. I may be able to help you with a Fast Cash Business Loan, but only over one year.
The program allows for up to $100K per location. It is not a credit card advance but a real loan.
Rates about 1/3 of a merchant cash advance. Plus as you pay down the debt you can access aditional working capital.
You can see more information at https://www.spotlightfinancial.biz/Small_
Take a look, if it looks like you might be interested just give me a call or fill in our contact request on the website.
Spotlight Financial LLC
1-888-600-6039 ext 169