Learn why this business loan alternative is becoming one of the most popular forms of financing for small business owners and why many choose a merchant cash advance over a business loan. Many business owners think a merchant cash advance is a short term loan, or a high interest advance. In actuality it is simply a sale. 1st American Merchant Advance is purchasing your future sales at a discount. Both parties agree to the amount of sales being purchased and for what discounted cost.
High Approval Rate: A merchant cash advance approval is based on business performance rather than personal credit, time in business or financials.
Fast Funding & Easy Renewals: Our business funding programs can have money in your bank in as little as 72 hours. Once you are approved you can renew your advance when 50% of your balance is paid down.
Simple “No Hassle” Payback: With a merchant cash advance there is no need to write a check every month, your payments are automatically held from your credit card transactions. There is no fixed monthly payment.
Revenue Based Collections: With a merchant cash advance, we get paid when you get paid. Our payment is a percentage of your daily sales, so if you have a slow month you are paying back less, if you have a good month, you are paying back more. This flexible structure allows businesses to always be able to afford the payments.
No Credit or Collateral on the Line: Unlike a commercial business loan, a merchant cash advance is actually a sales transaction, so they are not reported on credit reports. There is also no collateral required as is often the case with a business loan.
If you don’t have a merchant account, we can still fund your business with our popular “Bank Only” ACH program. We approve your business based on the total gross deposits into your business bank account. For more information visit our “Bank Only” ACH Funding page.