Access to credit lines continues to remain stagnant as small business owners are faced with tight credit and limited access to loans. Many entrepreneurs who once had excellent credit are now experiencing financial strains. For a money advance, there is a better way. AmeriMerchant, a leading capital solutions firm, has been successfully funding small businesses since 2002 and can give your business the boost it needs right now.
Cancelled credit lines are affecting many small owners today. Sadly, these credit lines have been used to keep many businesses afloat through the lagging economy. But banks are wary of businesses using credit as a stopgap measure when cash flow is low or non-existent. AmeriMerchant can help, offering several working capital programs to suite the needs of varying business types.
Below are a few reasons why banks close credit lines, highlighting their rigorous internal monitoring processes.
- Current Credit Status– Many banks assess both your business and personal credit at least every six months. If there are any negative changes, this will alert the bank to your financial position, or show them a pattern of what the future possibilities could be. They can—and will—reduce or cancel your credit line.
- Credit Line Usage– Even with good credit, if a bank is not comfortable with your spending habits, the can choose to close out or reduce your credit line.
- Changes in Line Terms– Banks make changes to their terms. If the bank is experiencing a lot of credit line defaults, they can implement changes to alleviate their risk exposure.
You can now avoid the uncertainty associated with credit lines from banks, with a simple and stress-free cash advance from AmeriMerchant in the form of a Merchant Cash Advance, Platinum Merchant Cash Advance or the Inventory Purchasing Program. AmeriMerchant also specializes in restaurant financing, which provides working capital against all credit card types.
Apply now to get immediate access to working capital funds. To speak with an AmeriMerchant representative, call our toll-free East Coast line at 1-800-267-3790.