If you truly want to Refinance this merchant and get him out of the daily nightmare, assuming he is profitable in 1 of the 2 years, been in operation over a year and has 600 FICO with no liens/BK take him to some of the online term lenders. Online lenders will do about 20-25% of his gross so the merchant by the soft numbers could qualify for a 500k deal.

PFS basically reimburses the merchant the total weekly remittance plus their own daily debit and their commission structure is not very competitive, plus they charge high factors. Not a true refinance, just a high factor on top of other high factors and they pay off the other MCA phase by phase not a lump sum payoff.