New York-based provider of alternative business financing solutions AmeriMerchant has announced a new US$60 million credit line aimed at helping provide more capital to small and medium-sized businesses nationwide through its merchant cash advance program as well as its small business loan program through its sister company, Main Street Business Loans.
“This new credit line will allow AmeriMerchant and Main Street Business Loans to keep up with the growing demand in the marketplace of small businesses that cannot obtain the working capital they seek for their business from traditional sources. It also significantly supports the funding capacity of our company’s rapid growth,” says David Goldin, president and CEO of AmeriMerchant. “We’ve had overwhelming demand of our Main Street Business Loan program allowing us to offer capital to non-credit card processing businesses in a variety of new industries. Our larger new credit facility will accommodate this demand as well.”