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Secure Financing with FAM

If you are a small business owner in the high risk industry or with bad credit, you’ve probably had a hard time securing financing from banks and other financial institutions. However, most traditional lenders are not willing to risk their money on merchants with less than perfect credit or little business experience. But there are lenders that provide a variety of services for merchants within the high risk industry that will infuse your business with the necessary cash to grow. Merchant cash advances and ACH funding are two popular funding options for high risk merchants.

First American Merchant Advance (FAM) is a popular high risk lender that funds high risk merchants. Merchant cash advances are not like traditional business loans, it is more like completing a simple sale. FAM purchases future merchant sales at a pre-determined discounted rate, as opposed to giving out large sums of money. This arrangement is preferable to bank loans since there is no specified amount to be repaid per month to satisfy a loan. Instead, you pay a pre-determined amount of whatever the business takes in. The following are the advantages to a FAM cash advance:

  • Credit Scores Below 500 Approved
  • Receive your Funds within 72 Hours
  • No tax returns or financials required
  • Fast Application Process
  • Simple, flexible programs

A second popular option for high risk merchants are ACH Loans. With this option, merchants aren’t even required to start a formal FAM merchant account to obtain loan money. FAM advisors will investigate the past 3-6 months of gross deposits in your business checking accounts. The size of the loan awarded to merchants is determined by the amount of monthly deposits and monthly revenue pulled in by the business. The following are a few requirements to obtain an ACH loan from FAM.

  • 500 FICO Score
  • 6 Months in Business
  • 10k in Gross Monthly Deposits
  • Less than 3 NSF’s Per Month

Contact FAM if you are a high risk merchant searching for a high risk lender. We specialize in giving merchant loans for small businesses with bad credit or little business experience. Our organization will help you reach your financial goals through short term loans and competitive rates. Start your application today.