Couple invest their savingsLoan ads are everywhere. From local and national banks, to quick lending companies, lenders want your business. However, a traditional cash loan comes with a lot of strings attached, namely high interest rates and an immediate need of repayment. You need to look into ACH business loans. There has been industry talk as of late, and while many offer up ACH business loans, few are top-rated in the industry.

FAM, or 1st American Merchant, is one of the top-rated ACH business loan lenders in the USA. While it is labeled as a “loan”, the process is anything but loan-like. You know what I mean. There is typically a ton of paperwork and checking up on you personally, as well as an extensive wait time. There is usually a high interest fee, and a need for payments starting in a month or two. Thee repayments are big, and traditional lenders do not care how your business is doing.

With FAM’s ACH business loan, you do not need a merchant account. This is big, as this is how many other lenders withdrawal their funds when payments are due. Instead, we withdrawal the funds from your business checking account, which every reputable business should have. Withdrawals are based upon what your company brings in, and funds are withdrawn weekly. These smaller amounts are much more manageable than the large amounts that are required by banks and traditional lenders.

To qualify, you must have been in business at least six months, and you must have a FICO score of at least 500. You must also have $10,000 a month or more in deposits, and less than three chargebacks per month. Many businesses fit these criteria, and if yours does, you should contact FAM. Now, ACH business loans are meant for short-term help, not long-term help. But it is a good idea nonetheless to contact one of our customer reps, just in case you are over estimating what funding needs your business has.

Click below for more information about ACH business funding.

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