108 Greenwich St., 5th Fl New York, NY 10006
For personal assistance, call
Get Started

How an ACH Bank Loan Helped This Jewelry Store Owner!

Joanne McCormick, a jewelry store owner based in Portland, Oregon was gearing up for her busy spring and flea market season. Faced with the need for more inventory and supplies to make her handcrafted jewelry all on her own, she realized she needed some working capital to help with the purchases. Not wanting to apply and wait for a traditional bank loan, Mrs. McCormick took her husband’s advice and decided on looking into alternative financing options for her business.

After researching a few companies on the internet, Mrs. McCormick decided on working with Excel Capital Management. Because her business does not accept credit cards, she was not able to qualify for a Merchant Cash Advance, but rather an ACH Bank Loan. Her funding specialist explained that through an ACH Bank Loan solution, repayment on the loan would be done through the Automated Clearing House (ACH) method with daily payments being automatically withdrawn from her business bank account. All that was required in order to receive an offer was four months of recent business bank statements and a simple one-page application. Mrs. McCormick was able to send in the necessary paperwork within an hour of speaking with Excel.

Within one business day, Mrs. McCormick’s funding specialist at Excel Capital Management was able to offer her an ACH Bank Loan in the amount of $10,000. It was just what she needed in order to purchase the inventory required to produce her new jewelry which she would be selling at upcoming showcases and flea markets. Mrs. McCormick happily accepted, signed the final documents, and the money was in her business bank account within two business days! While creating new jewelry and seling what products she already had, the ACH Bank Loan payments were made daily and automatically via the ACH collection method, meaning Mrs. McCormick had nothing to worry about – she could focus on her business and doing what she loved!

Click here to read more Excel Capital Management Success Stories

*All Case Studies are based on real businesses Excel Capital Management has funded. The names of our clients and their businesses have been changed to protect their privacy.*