The numbers for Americans filing bankruptcy has gone up in the past ten years. While others employ many of these filers, some are self-employed. This can cause trouble not only for their person financing, but also for any issues involving their businesses. While a person bankruptcy should not affect a business, it does. The problem does not come from loss of business, or stagnant business, but rather the solutions to fix these issues.

Business funding options are slim for those with good credit, so imagine the challenges for those with bad credit or a bankruptcy. Interest rates for a bank loan are high even for those with great credit, so they are not usually the option for those with bad credit. For those with a bankruptcy, they are not even considered. Crowdfunding websites are also a bad option, but not for credit reasons. These sites are unreliable, and many want you to give something in return for donations. This can put added pressure on your already struggling business. A business should not close because of the lack of funding options, but many do. Many do not know that the only thing they need to do to obtain business funding is contact their merchant account provider.

This business funding option is called a merchant cash advance. It is not a loan; it is a buy-in to your future sales. The process to obtain business funding is simple for those who have an existing merchant account, because you do not have to hand over financial paperwork as your merchant account provider already has your information. Payments are not made in large lump sums once per month, but rather taken from your credit card sales on a daily basis. You only pay when you make a sale. If you do not have a merchant account, you can obtain an ACH cash advance, which allows payments to come from your business checking account.

Those with good credit, bad credit, and even bankruptcies need business financing at some time. The best chance – and best option – for business funding is a business cash advance or ACH cash advance through your merchant account provider. Contact your merchant account provider, or FAM, today to learn about your options.

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