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12-12-2014, 10:30 AM #1
AMEX Merchant Financing steps up game
Ive know about this for awhile but just lost 3 accounts to AMEX, they offered 5% HB Daily on $50K, anyone else had experience with this ?
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12-12-2014, 10:32 AM #2
- Join Date
- May 2014
- Posts
- 317
I think we all do. Best thing to do is go to a super cheap player who goes longer than Amex and doesn't take up to if not more than 50% of all Amex sales to make sure things are truly paid in a year or 2, if not there is a balloon payment to be made which can be tough for merchants.
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12-12-2014, 03:38 PM #3
- Join Date
- Apr 2013
- Location
- NY
- Posts
- 203
Last time we competed with them was a year or 2 ago, they would do a year contract, where each month on the 1st they would advance the merchant 100% of the prior years amex sales for that month , and then holdback 100% amex sales until it was repaid. cost was very cheap just couple %, but that 100% holdback made it fairly easy to beat. Guess they have changed up a bit since then...
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12-13-2014, 04:12 PM #4
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12-22-2014, 02:24 PM #5
American Express offer was 12.5% fixed with a 2 year payback with 15% monthly holdings of the credit cards, happened today
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12-22-2014, 02:27 PM #6
- Join Date
- May 2014
- Posts
- 317
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12-22-2014, 02:44 PM #7
- Join Date
- Dec 2013
- Posts
- 4,713
I have been in the MCA Space for 9 years and these low rate programs have been around for a long time...vast majority who are seeking Fast Capital simply don't qualify for those programs.
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09-22-2015, 04:19 AM #8
- Join Date
- Sep 2015
- Location
- Henderson, Nevada
- Posts
- 4
American Express Merchant Financing is specifically designed for SMBs that meet a basic set of criteria, including generation of $100,000 to $10,000,000
in American Express charge volume per year, a minimum two-year merchant tenure with American Express and no prior account delinquencies https://merchcash.com/merchant-cash-advance-case-studies. get more info:-
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09-22-2015, 04:17 AM #9
- Join Date
- Sep 2015
- Location
- Henderson, Nevada
- Posts
- 4
American Express Merchant Financing is specifically designed for SMBs that meet a basic set of criteria, including generation of $100,000 to $10,000,000
in American Express charge volume per year, a minimum two-year merchant tenure with American Express https://merchcash.com/merchant-cash-advance-case-studiesss and no prior account delinquencies. get more info:-
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09-22-2015, 10:56 AM #10
- Join Date
- Sep 2014
- Posts
- 430
They also now offer a daily ACH product with very competitive rates in the high single to low double digits and terms out to 24 months.
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09-22-2015, 12:55 PM #11Zachary Ramirez – CEO
Phone: 562-391-7099
Email: zach@zacharyjosephramirez.com
1661 N. Raymond Ave #265
Anaheim CA 92801
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09-22-2015, 01:49 PM #12
- Join Date
- Sep 2014
- Posts
- 430
Yes. I've seen at least a few dozen recently. I was incorrect about the term though. The ACH product is only available for deals with a 12 month term.
Website:
"Repay by Debit ACH (One-Year Product Only)
To process your repayment, the approved bank account(s) will be automatically debited periodically. You will need to grant American Express permission for Debit ACH payments."
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