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Monthly Archives: December 2017

How to Safely Secure a Small Business Cash Advance

More and more businesses are flocking to the rapid funding options online lenders are offering the small business world. Merchants can easily and quickly get a business cash advance, regardless of credit issues. In fact, some online lenders like First American Merchant specialize in offering business funding to those who would normally struggle to find financing (“high- risk” business types).

However, like most things that seem too good to be true, there can definitely be a catch. This type of financing can be more expensive, and not every lender will be the ideal choice. Not all merchant cash advance providers are created equal. The following information will help you avoid being scammed, and find the online lender that is right for your business’ situation.

What to Look For

The following guidelines will help you carefully weigh your options:

  • Minimal Documentation Requirements – Unlike working with a traditional lender, alternative lenders typically require minimal documentation. Using a provider that handles your merchant processing makes greatly simplifies the process of securing a cash advance. For example, you may only need a few months of bank statements, a driver’s license, a copy of a lease/mortgage statement.
  • Straightforward Application Process – A strong cash advance provider will have straightforward approval standards and a higher approval rate than others in the industry. They will also be able to offer higher efficiencies not found anywhere else. For example, FAM is a full-service provider that offers multiple payment gateway options, high risk processing, flexible business funding options and check processing services. In addition, the application can be completed in a matter of minutes.
  • Fast Funding – One of the biggest advantages of a cash advance is the speed in which you can receive much needed capital. With traditional lenders, the process can take weeks or even months – only to find out you have been declined. With FAM, on the other hand, merchants can receive their cash in as little as 24 hours.
  • Flexible Repayment Process – Make sure you choose a lender that will allow repayment to change, based on the slow and busy months your business experiences. That is, the lender should allow repayment to be based off the performance of your business. During slow periods, your business pays back less. During busy months it pays back more.
  • Solid Reputation – The lender you choose should have years of experience in the industry. Make sure they have a long track record working with merchants, thoroughly understand the processing industry and offer an experienced support team. A provider with a solid history will have the financial strength to place capital in the hands of business owners quickly.

BIO: Business Funding expert, Nathan Hale, founded First American Merchant with his eyes set on helping the backbone of our country, small business owners. His passions include writing/producing music, and travel. First American Merchant is America’s Best get a business cash advance company, serving both traditional and high-risk Businesses.