New York Finance

Dec 19 2017

Small Business Loans #merchant #service #loans


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Merchant Financing and Your Merchant Fees

Your merchant fees remain as stated in your processor’s card service agreement. If you select your repayment option from credit and debit receivables, repayment is made after merchant fees and any amounts due for chargebacks, credits, and other fees are deducted in accordance with the terms of your processor’s agreement.

Type of Funding

American Express Merchant Financing products are commercial loans, not purchases or discounts of receivables or cash advances. You must repay the loan in full, together with the loan fee, regardless of your future revenue.

Settlement Advance

  • Loan Amount: Based, in part, on all your historical credit and debit card receivables each month; with a loan amount ranging from $10,000 to $1,000,000.
  • Term: One year agreement, automatically renewed unless either party provides 60 days notice to terminate. There are no early termination fees if you choose to cancel.
  • Repayment: Automatic, not manual.
  • Disbursements: Monthly, on the same date each month, which you select, into your business bank account. Monthly loan amount is reevaluated every six months.
  • Fee: 0.5- 0.67%
  • Additional Information: Ideal for helping to manage monthly cash flow. To apply for Settlement Advance, please call 1-855-298-1209 today.

Six Month Financing

  • Loan Amount: Based, in part, on your historical credit and debit card receivables for the past 12 months and performance to date; with a loan amount ranging from $36,000 to $2,000,000.
  • Term: Six months
  • Repayment: Automatic, not manual.
  • Disbursement: One time disbursement.
  • Fee: 3-7%
  • Additional Information: Ideal for upgrading to new equipment or funding large projects. No early termination fee.

One Year Financing

  • Loan Amount: Based, in part, on your historical credit and debit card receivables for the past 12 months and performance to date; with a loan amount ranging from $5,000 to $2,000,000.
  • For loans, $35,000 and below, a personal guaranty may be required.
  • Term: One year
  • Repayment: Automatic, not manual.
  • Disbursement: One time disbursement.
  • Fee: 6-14%
  • Additional Information: Ideal for upgrading to new equipment or funding large projects. No early termination fee.

Two Year Financing

  • Loan Amount: Based, in part, on your historical credit and debit card receivables for the past 12-24 months and performance to date; with a loan amount ranging from $36,000 to $2,000,000.
  • Term: Two-Years
  • Repayment: Automatic, not manual.
  • Disbursement: One time disbursement.
  • Fee: 12-28%
  • Additional Information: Ideal for upgrading to new equipment or funding large projects. No early termination fee.

Additional Terms & Conditions

This website contains a summary of the Merchant Financing products offered by American Express Bank, FSB. For additional information, please call us at 1-855-298-1209.


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