Starting your own business can be challenging without proper funding. There are a variety of ways to obtain funding for a small business. There are traditional options such as loans and venture capital investments and also alternative lenders such as First American Merchant.
Loans are likely one of the most common ways to fund small businesses. The Small Business Administration offers several different loans to accommodate the needs of each individual business. The requirements for obtaining these loans though are high and lenders often take long periods of time to make a decision regarding the loans.
Some types of small businesses face challenges securing a loan because they are considered to be high risk. High risk businesses include start-ups, electronic merchants, “cash-intensive” businesses like convenience stores, restaurants and retail outlets, professional corporations including lawyers, dentists and accountants, and even established businesses with seasonal fluctuations are deemed to be high risk. While traditional lenders shy away from lending to high risk businesses, First American Merchant specializes in high risk business funding.
High risk small businesses also include companies that have filed for bankruptcy or that have had debt charged off. Traditional lenders can deny businesses that haven’t got proven financials or sufficient business history as well. Additionally lenders can require the submission of business plans, balance sheets, financial statements, tax returns and credit histories.
At First American Merchant we provide funding solutions for any type of business. No matter the industry or prior credit history. You simply have one short form we ask you to fill out. There are no upfront costs or collateral requirements. A financial consultant will contact you and within a day or two a decision will be made. If approved your business can receive funding in seven working days.
First American Merchant is not a bank and doesn’t make loans, rather it provides a cash advance factored on the future sales of a business, based on the business’s account receivables. We design personalized cash remittances that adjust to your revenue.
So no matter what type of small business First American Merchant is available to help finance your company.
To learn how you can fund your high risk business, click on the button below.