All businesses need financial help at some time. For high risk merchants, a merchant cash advance or ACH Funding Loan is usually the best choice. However, finding a high risk merchant account provider who provides these services can be better said than done. Luckily, for US-based merchants, a First American loan can help you get your business booming once again.

There are two types of “loans” that merchant account provider’s offer up to their clients. First, is a merchant cash advance, which is aimed at merchants with merchant accounts. This is not a loan; it is a “buy in” to your company’s future sales. A small increment is taken from your merchant account either daily or weekly to pay back the funds. This is one less thing that you need to worry about in your business life. Being accepted is easy, as merchants with a below 500 FICO score can be accepted. Funds are given in as few as three business days, to help get your business booming again.

The other First American loan option is an ACH Funding loan. This is geared towards those who do not have a merchant account. The funding process is the same as a merchant cash advance, expect that payments are taken from your business checking account. The criteria is a bit stricter, as you must have been in business for at least six months, bring in at least $10,000 per month in sales, and have three or fewer chargebacks per month. The latter can be troublesome for many high risk merchants, but it can be done with the right business techniques.

In addition, First American loan programs are also available for merchants to offer “90 Day Same as Cash” programs. This is something that few merchant account providers – even high risk merchant account providers – provide, because of its high chargeback rates. In today’s economy, this can help you gain business.

Funding a business can be tough, and when you slap a “high risk” label onto the business, it becomes even tougher. Be sure to contact FAM when you are in need of their First American loan services.

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