ALEXANDRIA, Va. ? NACS has partnered with American Express Merchant Financing to offer a set of financing products to qualified retail businesses, providing quick and simple access to cash. Eligible merchants can tap into a convenient and hassle-free source of capital, which is automatically repaid through settlement charges and accompanied by low fixed fees.
?In current economic times, where financing is not always readily available, American Express Merchant Financing offers retailers a fast, convenient and straightforward solution ? and at discounted rates for eligible NACS members,? said Doug Spencer, NACS director of products and services.
The program offers two financing options:
- Monthly: A one-year term with 12 monthly loan disbursements, each up to $500,000. The cash financing amount is extended at the beginning of each monthly period and is repaid in full by the end of each monthly period. The financing amount is based on projected American Express charge volume. A low fixed financing fee is charged each month on the financing amount. There are no other fees.
- Annual: A one-time loan disbursement equal to 25% of projected annual American Express charge volume, up to $750,000. The loan must be paid in full by the end of the one-year financing term. A low fixed financing fee is charged on the annual financing amount. There are no other fees.
This innovative financing program enables qualified businesses to better manage cash flow and ultimately grow their businesses. American Express? Merchant Financing products provide cash within three business days of enrollment, include an automatic repayment process based on the merchant?s American Express settlements and require no personal guarantee.
The program is open to qualifying NACS retail members in good standing with American Express who meet the minimum eligibility requirements of:
- More than $75,000 in American Express charge volume annually
- More than two years as an American Express Card-accepting merchant
- No negative account history with American Express
The simple application process, fast approval and competitive pricing ensure that convenience retailers can gain flexibility and control in navigating common cash-flow management issues. To learn if your business is eligible or for more information, call an American Express Merchant Financing Specialist at (877) 310-8057.