AUTOMATED CLEARING HOUSE (ACH Loans)
With short-term, unsecured loans, you borrow a specific amount of money and pay it back over a set term. Your loan approval amounts are based on your cash flow and the gross deposits of your business checking account. Whereas secured business loans are taken against a borrower’s assets, unsecured business loans require no collateral. Because the lender takes on greater risk, unsecured business loans often come with higher interest rates than secured ones do, and you will typically repay the loan faster. The term lengths of short-term loans range from 3-18 months, and payments are fixed daily until the loan is fully repaid. We’ll set up a fixed deduction amount based on the historical sales of the business. The daily amount withdrawn is fixed, not the percentage of revenue. This program is ideal for business owners who don’t use credit card transactions or who don’t have merchant accounts. With our short-term, unsecured loan program, we make simple, direct bank-to-bank electronic transfers to provide your business funds quickly, and you don’t have to worry about missing a payment.