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2015 August Blog Posts

By First American Merchant

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Loan Cap Expansion Gives More Money to Small Businesses

Last month a bill was introduced to raise the loan cap. It was one of the few bills introduced into Congress with bi-partisan support. The loan cap increased the cap from $18.75 billion to $23.5 billion. The raise is very important to small businesses that are trying to recover from the recession, or for new entrepreneurs who want to start their own businesses. Until last month, many small business owners were getting desperate. Daniel Ramirez is the owner of 4 Papa John’s franchises in Maryland and Delaware. He recalls that opening his first store was a struggle, as he worked […]

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Banks More Generous to Small Businesses

Entrepreneurs have a reason to be optimistic this year. Thanks to an influx in cash by the Federal government, small business loans are gaining more steam with traditional banks. This is really good news for small business owners who may require a small loan to overcome this latest recession. In addition to offering more loans, banks are also expanding lines of credit. One place where this new policy has made an impact is in the state of Michigan, one the states hit hardest by the recession. Currently, Michigan leads the nation in these types of loans; borrowing over $69.5 million […]

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Most Small Business Owners Skip Traditional Loans

When most people want to start a business, they have to sparse through a ton of options and make decisions regarding how they are going to finance their business. Some individuals decide to take out a small business loan. But a recent survey by Sageworks, a financial information company, discovered that 75 percent of owners who’ve been in business for under ten years have never applied for any type of loan. Instead, more than 60 percent of business owners chose alternative means for financing, and state that they bypassed loans because they didn’t want to deal with excessive debt. Also […]

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Banks Need to Update Their Identity Protection Services

Banks are something that we cannot escape. From our personal checking and savings accounts, to our business accounts, banks are there for many aspects of our lives. Many merchants with bad credit have issues finding a cooperative banking account for their business accounts, and this may be a good thing. This has been a made couple of years for the banking system, and it may be getting worse – though not exactly money-wise. Banking identity protection services are coming under scrutiny for their outdated security methods. This not only puts your personal information in jeopardy, but also your business information. […]

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Crowdfunding Isn’t the Best Funding Option for Start-Ups | ACH Business Loan

Crowdfunding is huge. From GoFundMe to IndieGoGo, there are many websites and social media apps dedicated to raising money. While many use these websites to help fund a charity or needy family or cause, others have started using them to help fund their start-ups. The idea is great; however, there are downsides to asking family, friends, and the entire universe to help fund your business. For starters, posting repeatedly about your start-up on social media can be a turn off to some. Sure, it is great, and many will be thrilled for you, but some will think that you are […]

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Investing Can Help Your Small Business

The stock market is a risk, just like opening a small business. However, few small business owners play the market, and for good reason: They do not have time! Small business owners work well over the average 40-hour workweek, and simply do not have the time to spare to investigate the stock market. Another issue comes from the fear of losing valuable business funds whilst investing. However, merchants should take comfort that there are things that they can do to remedy a business funding loss. While no one wants to lose money investing it, this is an all-too-common occurrence with […]

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Where to Obtain Cash to Help Fund Your Mobile App

Apps are used by those with smartphones and tablets, and they can help any business promote sales, and process orders. From banking to games to dating, the number of app categories are endless, and you need to take advantage of this opportunity. While existing companies can transfer their information into an app with the help of a programmer or app developer, start-up merchants may need help affording this service. For those who are truly DIY, there are instructions and YouTube videos available for setting up your own app. However, this should only be attempted by those who are techie, and […]

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Bank Loan or Not: That Is the Question for Small Businesses

Most business need financial help at some time. For small businesses, this can be tricky, because there are many avenues to go down, but not all are right for each company. From bank loans to crowdfunding to merchant cash advances, there are many ways that one can obtain business funds. However, while small business funding options are plenty, you need to be thorough in your research before deciding on one option. Bank loans are not the best bet for small businesses. It is that simple. Regardless of how long you have been in business, small businesses are not given the […]

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Why Obtaining Cash for Your Business Isn’t All High Tech

There are never-ending ways for you to obtain cash for your business. From bank loans to crowdfunding to various apps claiming to help you out, the options are increasing daily. While many businesses have success with these methods, they may not be the best choice for your small business, especially if your business is considered to be “high risk”. Instead of taking a loan with high interest rates and immediate payments, merchants should look into obtaining a merchant cash advance to help fund their company needs. A merchant cash advance is not a loan. In fact, it is simply a […]

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“Sharing” Business May Be Hurting Your Business

“Sharing” companies are hitting the market fast and furious. While these companies can benefit the public greatly, many in the business world are worried about the effects these companies will have on their own businesses. While business owners have a right to worry, there is another downside to “sharing” businesses that the Feds may be interested in. While tourist-heavy locals tend to have mass transit and taxi services, the influx of ride sharing companies, such as Uber, has caused travelers and locals to use this sharing service instead of the good ol’ subway or Yellow Cab. The problem doesn’t only […]

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