Frequently asked questions

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american credit faq
American Credit FAQ icon 1

Are you a bank or a mortgage broker?

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Am I eligible?

American Credit FAQ icon 3

What happens after the online application?

Financing Solutions and Capabilities

What types of financing solutions does American Credit offer for businesses?

American Credit offers asset-based financing solutions like equipment loans, equipment sales & leaseback, invoice financing, SBA loans, and commercial real estate, and 2nd mortgage financing up to $5 million.

What are the eligibility criteria and requirements for your asset-based loans?

For asset-based loans, key eligibility criteria include having business assets to use as collateral, being an established company (typically 2+ years), and meeting minimum annual revenue requirements. Specific requirements vary by loan product.

How much funding can I get through your invoice financing program?

Through our invoice financing program, businesses can get up to $2.5 million in funding based on their outstanding receivables.

Do you provide SBA loans? What are the benefits of an SBA loan?

Yes, American Credit provides SBA loans, which offer low interest rates, long repayment terms, and no collateral requirements for qualified borrowers.

Can you explain your commercial real estate financing options?

Our commercial real estate financing covers acquisition, refinancing, construction, and development projects for investors and businesses.

Application Process and Timelines

What is the application process like for obtaining financing from American Credit?

The application process involves submitting online, through our application portal, basic business information, financials, and supporting documents. An account manager then guides you through underwriting.

How quickly can I get funded after applying and being approved?

For completed application, American Credit provides fast funding in as little as 3-4 business days after approval for most products.

What documentation is typically required for the loan application?

Typical documentation includes details on collateral assets such as equipment purchase invoice, accounts receivable aging reports (in case of invoice factoring), property appraisal for CRE, and 3-month bank statements. For loan amount more than $150K, financial statements and tax returns are typically required.

Do you offer pre-qualification tools to estimate my potential loan amount?

We provide fast pre-qualification feedbacks on application. Our lending expert will call you to discuss potential loan amounts and approval conditions.

What fees are associated with your various financing products?

Application is free. In the underwriting process we may need to inspect and appraise titled/untitled equipment with a reasonable cost. In the funding process, fees can include origination fees, closing costs, etc.

Company Credentials and Track Record

How long has American Credit been in business and what industries do you serve?

American Credit has been providing asset-based lending solutions to businesses across various industries for over 5 years. The combined industry experience of American Credit team in the asset-based lending is more than 100 years.

Are you licensed and accredited to provide financing in my state?

American Credit is licensed to lend in all 50 U.S. states based on the requirements of each state.

Can you share some examples of recent deals you have funded across different sectors?

Recent fundings highlighted on our website include $3.8M for an agricultural company, $556K for an esports firm, $500K for a law firm, and $380K for an equipment loan.

What separates American Credit from other alternative lenders in the market?

American Credit differentiates itself through its industry expertise, speed of funding, and ability to structure tailored deals for tough credit situations.

Do you have any customer testimonials or case studies I can review?

Their website features many customer testimonials showcasing our credit expertise and ability to secure funding in some of the most challenging lending scenarios.

Industry Insights and Trends

What are the current trends impacting asset-based lending and invoice financing?

Key trends include the rise of online alternative lenders, increased use of data/technology for underwriting, and growing demand for asset-based financing as businesses seek flexible capital.

How can alternative financing benefit my business during economic uncertainties?

Alternative financing can provide quicker access to capital compared to traditional bank loans, which is beneficial during economic uncertainties.

What impact have the new SBA rules had on small business lending approvals?

Recent changes to SBA loan programs like fee waivers and increased guarantees have made it easier for lenders to approve small businesses.

How does inflation affect equipment loans and commercial real estate financing?

Higher inflation impacts equipment and real estate loans by increasing overall borrowing costs. Lenders may adjust rates, terms and LTV ratios accordingly.

What role can fintech lenders play in providing capital to underserved markets?

Fintech lenders can leverage technology to efficiently serve underserved markets like startups, minority-owned businesses, and rural communities that face funding gaps.

Quick answers to the most asked questions

Always feel free to call or email us with any questions.

American Credit business loan specialists are happy to help with any queries you may have about applying, rates, potential ROI, loan types, our company, fees, security... anything relating to how we can help your business grow.

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American Credit Investor Customer Voice
American Credit Investor Customer Voice Quote

The loan officer could see how profitable we are. But even with three great years of business our bank won’t look beyond our credit score.

David Lee
Owner, Beautiful Smile Dental

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American Credit: the difference you can trust

You work hard. We work hard. We share the same ethic. That’s why we go the extra mile to look at your situation and see if we can help. Unlike some business credit lenders who focus on FICO scores, we look at your business as a whole.

American Credit Business loans the Difference You can Trust