Small high risk businesses are often rejected by traditional lenders. As a result, many choose alternative sources of funding. Merchant cash advances are a new revenue stream for high risk merchants to explore. They are an increasingly popular option due to shorter term options, faster approval times, and less stringent requirements. The following is a quick review of merchant cash advances.
Traditional small business loans require longer term contracts. They also require an extensive look into company financials and are largely based on high credit scores. This means that new businesses and those with lower credit scores have little to no chance of acquiring loans or attaining fair interest rates.
FAM Merchant Cash Advance
First American Merchant Advance purchases your future sales at a discount. FAM and merchants agree to the amount of sales that will be purchased and for the discounted cost.
Our goal is to help businesses in the high risk industry get cash advances despite bad credit, or only having been operational for under 12 months. Merchants looking for a cash advance only need to meet a few requirements, that’s because a merchant cash advance involves a cash infusion based on sales and is not an actual loan. FAM only asks for a portion of future credit card sales. This arrangement is optimum for many merchants because they don’t have to pay back a specific amount by a certain time. The following are all you need to have in order to get a FAM cash advance:
- Credit Scores Below 500 Approved
- Receive your Funds within 72 Hours
- Simple, flexible programs
- No tax returns or financials required
- Fast Application Process
There are multiple other advantages to acquiring a merchant cash advance like: (1) no fixed monthly payment (2) no need to write checks (3) flexible cash flow system that allows merchants to pay less on slow days (4) merchant cash advances are able to be used for any business’ expenses.
If you are starting a new business and are looking for quick cash with few requirements – look no further. Contact FAM for a cash advance to attain working capital and alternative business financing. Call us at 1-888-785-6811 to start your application today.