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How an ACH Business Loan Can Help Business Growing Pains

Business growing pains suck. They happen to most businesses – and if your business is going to be successful, it will happen. So, what do you do? First off, don’t panic! There are things that you can do to curb growing pains and other issues, and all without a bank loan.

An ACH business loan is what you need. This is not a loan, but rather a “buy in” to your future sales. An ACH funding program, also called “Bank Only” funding allows providers like FAM to fund merchants even if they don’t have a merchant account. A business cash advance is an alternative to a traditional bank loan. Business loans can be difficult to obtain, strict credit requirements and the lengthy application process prevent most business owners from getting additional working capital. Business owners need working capital in order to grow, we provide you access to funds at a relatively reasonable cost.

Getting a bank only merchant cash advance or an “ACH Only” advance is relatively easy. The provider will evaluate your gross monthly deposits into your business checking account over the last 3-6 months. The amount available to you is based on the number of deposits and the average monthly revenue of your business. This ensures that you can afford the payments – which are also easy to pay back.

With an ACH funding program there are no tax returns, or financials required to receive funding. Typically, all you need is just need 3-6 months of business bank statements, a copy of your driver’s license, a copy of a voided check and a copy of your lease with landlord contact information. You can receive your funds in as little as 5 days – which is much quicker than a bank loan.

You pay back the funds when you get paid – and in small increments that are decided before you sign on the dotted line. If you do not do business for a few days, you do not pay those days. So, you are not losing funds that you need to maintain your operation, and grow your business.