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If You Are Having Problems Borrowing Money, Try an ACH Business Loan

ACH business loansThere are still small, medium and large sized companies that still do not accept credit cards. Some may choose to invoice all customers and receive checks into their accounts receivable department. There are small service contractors who will work on a cash or check only basis because they do not want to do office work – they would rather be in the field working. What happens to these types of businesses when their banks decline them for loans and they need extra capital? They should all apply for an ACH business loan.

An ACH business loan may be a strange concept to you. You may not recognize the term but the benefits are outstanding. Companies that accept credit cards have the opportunity to apply for a merchant cash advance that is based on their credit card sales. But if there are no cards accepted, how could a lender base a line of credit? Yes, there are some lenders who will ask for collateral for a business loan but not First American Merchant Funding.

This is a lender that is hedging its bet by believing in your future. Your loan is based on an estimate of your future sales. When terms are accepted and you receive your funding, small payments are withdrawn from your checking account when deposits are made via ACH withdrawal. The business owner does not have to worry about writing a check each month, paying on time or not being able to meet a large payment. It is all on a percentage basis. For example, if your payback is 5% and you deposit checks for $5,000, your checking account will be ACH’d for $250. However, if you only deposit $1,000, you will pay only $50. This kind of loan rides with the ups and downs of your cash flow.

So can anyone get an ACH business loan? You can qualify if your credit score is at least 500. In the great scheme of things, this is really low. You must have been in business for a minimum of six months. Your company must deposit at least $10,000 a month into your checking account, and you cannot have more than three NSF’s within a month’s time. How easy is that?

If you meet these requirements, the approval rate is awesome. In many cases you can have the funds in your account within 72 hours. You do not need to provide tax returns, personal or company financials, business plans, etc. No collateral is required and there are no application fees. They are accepting all the risk because you are under no obligation when you apply.

For a fast approval on an ACH business loan, call 1-888-785-6811 or click below. Time is money!