In this day and age, it can be difficult to secure loans from traditional lenders. Whether you are a start-up, and existing business, a brick-and-mortar establishment or an electronic merchant, not being able to get the funding you need is a real problem. If your company has gone through bankruptcy and/or has had their debt “charged-off” by creditors, you’ve probably found that funding options are even harder to obtain.
If this is you, don’t despair. While traditional banks may have declined your loan application, there are still options out there for you. It doesn’t have to be such a difficult process either. If you started with a traditional lender, you most likely encountered a daunting request for business plans, balance sheets, financial statements, tax returns and credit histories.
After being drug through all of this, you still had to wait for the loan committee to make a decision. Considering that 60% of all bank loan applications are declined, it is safe to say that this process can be very discouraging. After the last economic downturn, things have only become more difficult for businesses with banks only giving loans to those who they feel will truly capitalize.
If you have been labeled “high risk”, don’t despair. A high risk cash advance is perfect for those who have encountered issues with traditional lenders. With 1st American Merchant Funding, you can expect to find an understanding that growth does not always goes as planned and envisioned.
A high risk merchant cash advance with 1st American Merchant Funding is not a loan. Instead, it is an advance factored on the future sales of a business. The acceptance of credit and debit cards by your business is encouraged. Worried about the slower months? With 1st American Merchant Funding your remittances will reflect the decrease in revenue during that period.
1st American Merchant Funding is there to meet the needs of all so-called “high risk” businesses. If you are having trouble securing funding through traditional means, it might be time to consider a high risk merchant cash advance. The process is fast, simple and hassle free.
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