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How an American Cash Advance Program Works?

A Cash Advance is a business funding alternative that’s turned into one of the most popular forms of financing for small business owners. Today, many choose to apply for a Cash Advance instead of traditional business funding.

Cash Advance from FAM

You might think a Cash Advance is a short-term loan or a high-interest advance. In fact, it can be characterized as a sale. A reputable business loan provider and high risk processor, First American Merchant, offers its popular Merchant Cash Advance. Turn to FAM if you’re interested in an American Cash Advance.

FAM will purchase your future sales at a discount. What both parties should do is to agree to the amount of sales being purchased and for what discounted. advances you a specific dollar amount, taking into account your credit card receivables. You must repay it based on a small fixed percentage of your future Visa, MasterCard, American Express, and Discover receipts until you pay back the pre-determined amount.

Applying for an American Cash Advance

If you’re interested in a FAM Cash Advance and don’t know whether you can qualify for it or not, be aware FAM’s basic qualifications require you to have a physical location, be in business for at least 3 months, process at least $2500 per month of Visa/MasterCard receivables, and have at least 1 year left on your lease.

You can complete the online application, submit some basic information and find out find out how much you can qualify for. FAM will send you a free, no obligation quote within 24 hours. No application fees or points are required.

When it comes to how much a Cash Advance will cost, don’t forget that each business has its unique characteristics, so you’ll receive a customized quote based on your business’ specific needs and situation.

FAM often offers larger Advances than the competitors in the field, and will pay off your existing Advance if you’re with another provider and want to replace it. You can just contact First American Merchant and find out how much you are qualified to receive.

You shouldn’t provide a personal guarantee. However, individuals will be held liable in cases of fraud and misrepresentation.

As for whether the daily payment percentage can be increased after the account has been funded, be aware “No.” FAM maintains the percentage till the advanced is fully paid off.

Consider turning to First American Merchant to get working capital tailored to your business wants and needs. You can qualify for up to $250.000 in minutes. Signup is simple and easy. It takes a few minutes to complete the application. Once approved, you’ll have your funds in as little as 24 hours.