Cash advance for small business - American Microloan

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	HELP FOR OUR CUSTOMERS can be found here 24-7. We've compiled a list of the most frequently asked questions to begin your search for answers. If you can't find the answers you're looking for, please use the form to the right, and we'll respond within 24-48 hrs. For immediate help, call our Help Center at (866) 227-4456 or email us at cs@AmericanMicroloan.com.


	Select an FAQ from the list below to view answers.
	How easy is it to get approved by American Microloan? I am already with another financing company providing a similar financing. Does that mean I will get approved by American Microloan? Can I receive financing from American Microloan while the financing from another company is still outstanding? Is it going to cost me to apply for American Microloan’s financing? Does American Microloan require a personal guarantee? I have high enough overall sales, but my VISA/MC volume is very low. Is there any way I could receive funding? Can the daily payment percentage be changed after the account has been funded? Can the loan be re-upped? What happens if I need additional funding before my loan is down to the re-up threshold? I need a longer term than 6 months. Do you offer such terms? I find the payment based on the daily sales confusing. Is there a fixed amount payment plan? The standard 15% daily payment isn’t suitable for my business. Can you change the daily payment% to accommodate the needs of the business? If a $10,000 CCRF typically costs $1,000 over 6 months, does it mean I will be charged $166.66 ($1,000 / 6) per month?

	Can the daily payment percentage be changed after the account has been funded? Yes. It will be evaluated by American Microloan if the borrower requests it. An upward adjustment to pay off the loan more quickly will always be approved. We can also accommodate downward adjustments as long as it is reasonable. The funding costs, however, will rise accordingly due to the lower payment stream. The rule of the thumb is that the longer the payback period, the higher the interest costs, and vice versa. We NEVER change the daily payment % without discussing it first with the merchant.