Some entrepreneurs have a lot of money saved up, but they find it difficult to start a business as they do not have a viable idea. Others have a perfect idea to start their own business and succeed, but they lack the necessary funds. Below you can find ways how you can fund your small business and grow.
Small Business Funding from FAM
According to First American Merchant, one of the common requests heard from merchants has to do with a “90 days same as cash” program for their customers. Small business owners look for ways to offer their customers financing, like the bigger chain stores. So FAM has developed a solution that offers:
- Customer financing for 3, 6, or 12 months
- Getting paid the purchase amount within 3 days
- No risk to merchants if the customer does not pay
- Customers can finance up to $5.000.
Merchants interested in getting finances to fund their small business, including a merchant cash advance, should turn to a reliable payment processor like firstamericanmerchant.com or First American Merchant (FAM).
What Is A Merchant Cash Advance: How Does It Work?
A merchant cash advance can be characterized as an alternative financing option for small business owners. The provider you choose will give you financing upfront, and you will have to pay for the advance with a percentage of your business’s daily sales.
A merchant cash advance is ideal for those business owners who receive payments via credit cards, cash or checks, have a high volume of sales, and need quick financing for their business. This is also an ideal option for those who cannot qualify for a traditional bank loan.
Unlike traditional business loans, it is not challenging to qualify for a merchant cash advance. Merchants will be asked to complete an easy online application that is without hassle. Also, the provider will not require a long operating history. Finally, merchants will not be required provide excellent credit scores as poor to average credit will be enough to qualify.