Address New York City, NY
Merchant financing offers the flexibility of merchant cash advances but has better rates and actually functions as a business loan. Another key difference is that merchant financing generally requires collateral.
American Express Merchant Financing is available to all eligible businesses that accept American Express and provides fixed-fee loans with automatic daily repayments that best suit your business. The company calculates your repayments as a fixed percentage of your daily credit or debit card sales, so repayments align with the ebb and flow of your sales. The more you sell the higher your repayments for the day, but on the flip side, on a day with low sales you’ll get to repay less.
Type of Loan: Merchant financing
Loan Amount: $5,000-$2,000,000
Term of Loan: 6/12/24 months
You can apply online for American Express Merchant Financing and, just like a merchant cash advance, you can usually receive your funds really quickly.
Being a product of American Express, you can rest assured that your personal and financial data is protected by the top encryption and data protection protocols.
If your business accepts American Express credit or debit payments, then their Merchant Financing product could provide you with quick, flexible financing with reasonable repayments.
Please note that all information provided in this review is accurate at the time of publication and is subject to change. The information contained in this review is provided for informational purposes only, should not be construed as legal advice on any subject matter and should not be relied upon as such. The reviewer accepts no responsibility for any consequences whatsoever arising from the use of such information.