[Jstarr]

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 ?

[Jared_Weitz]

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 ?

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.

[Andy]

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...

[MCAVeteran]

https://merchantfinancing.americanex...cing/index.htm

[socalgav]

American Express offer was 12.5% fixed with a 2 year payback with 15% monthly holdings of the credit cards, happened today

[Jared_Weitz]

American Express offer was 12.5% fixed with a 2 year payback with 15% monthly holdings of the credit cards, happened today

There are programs out there today that compete with that.

[mcaguru]

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.

[carollbert]

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:-

[carollbert]

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:-

[CreditGuy]

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.

[Zach]

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.

Are you serious?

[CreditGuy]

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."