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2016 September Blog Posts

By First American Merchant

Feel free to give us a call for more info 1-800-210-5649

The Impact Of “Promesa” On Businesses In Puerto Rico

In June, Congress passed the Puerto Rico Oversight, Management, and Economic Stability Act, or Promesa. The bill aims to help Puerto Rico restructure its debt and prevent the island from being sued for defaulting on bond payments. The Puerto Rico Oversight, Management, and Economic Stability Act President Barack Obama signed the bill into law. The bill was criticized and considered a form of colonialism. According to many members of Congress who voted for the bill and acknowledged its shortcomings, it was the best option for Puerto Rico. BMI Research also supports that view. Based on a BMI Research report, Promesa […]

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3 Questions to Help You Identify the Right Investor

The main concern you’ll often face as an entrepreneur is how to raise your first round of funding. The norm is to approach a few investors and bring them on board. Even so, some investors may not be exactly the right people you want to work with. So, how do you identify the right investors for your business? These 3 questions should point you to the right investor for your business. What is your characteristic bite size? You’ll generally have an estimate of the amount you expect each investor to inject into the business. And different investors typically put in […]

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Overcoming Three Main Challenges That Every Ambitious Entrepreneur Faces

The life of a successful entrepreneur is easily admired. Every leading business publication wants to mention your name and every upcoming businessperson wants to hear you share your success story. But less known to many people are the hurdles you may be facing there at the top. The mere fact that you are above-par places quite some demand on you. The hours within a day never seem to be enough for all the things you have to do, stress becomes a way of life and social life always seems distant. These challenges may seem unmanageable, but here’s some help on […]

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How to Grow Your Business by Leveraging the Power of Online Communities

The internet hosts people of virtually every age set today. People depend on the internet on the internet for shopping, chatting, learning and just about every aspect of their daily lives. What this means? It’s the place where your customers hang out. It’s the best place for you to meet your customers. Online communities have been a major source of business ideas, growth and development for ages. If only you can identify and join the right community, there’s no limit to how much you can market yourself and promote your business. It all starts with being aware of what your […]

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How to Create an Effective Advisory Board

A good board of advisers becomes handy whenever an objective advice is needed, when you need to gauge future trends or scout the market. It’s also a great resource when you are aiming to create new strategic positions that may lead to competitive advantage. The advice given by these boards is often non-binding, which allows you some room to make choices deemed best for the business. Nonetheless, you’ll need an effective board that will put the business on a growth track at all times. Here’s how to create such a board. Look for specific skills. A board that’s comprised of […]

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Exclusive Collection Agency Merchant Accounts

Undertaking the process of collecting debts can be intimidating to newcomers and startups. If you lack a thorough credit history, traditional banks and many credit processing providers will shy away from you. Moreover, the application process for merchant accounts will be a real challenge for those with inconsistent revenue streams. Collection Agency Merchant Account from FAM     If you are a collection agency merchant looking for a reliable and low-cost merchant account, consider turning to First American Merchant. FAM is a reputable provider of merchant accounts for the collection agency industry that offers a reliable collection agency merchant account to customers. […]

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The Impact Of Latino-Owned Businesses On Economic Growth

Latino entrepreneurs submitted 18% more applications for small business loans in 2015. Latino business owners find it challenging to secure financing and are still behind in such factors as credit scores, operating expenses, annual revenue and age of business. The Financial Performance of Latino-owned Businesses Biz2Credit has recently analyzed the financial performance of over 1.000 Latino-owned businesses that have less than 250 employees and less than $10 million in annual revenues. According to this study: Average annual revenue for Latino-owned businesses was $68.540. For non-Latino-owned businesses, the amount was $70.641. Average operating expenses were accounted for $18.334. For non-Latino businesses, […]

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Loans For Businesses in Puerto Rico

Lack of resources can be a great challenge for many entrepreneurs trying to start their own business in Puerto Rico. To get enough capital to take your business off the ground, you should apply to a traditional loan provider or a modern payment processor to get the best for your business wants and needs. It may seem intimidating, but it is not impossible. Below you can find ways to fund your business, finance your startup or just grow: Direct Funder You can turn to a direct funder specializing in alternatives to small business loans. These companies can be characterized as […]

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Loan Options To Fund Your Small Business

Some entrepreneurs have a lot of money saved up, but they find it difficult to start a business as they do not have a viable idea. Others have a perfect idea to start their own business and succeed, but they lack the necessary funds. Below you can find ways how you can fund your small business and grow. Small Business Funding from FAM According to First American Merchant, one of the common requests heard from merchants has to do with a “90 days same as cash” program for their customers. Small business owners look for ways to offer their customers […]

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What Is A Merchant Cash Advance And How Does It Work?

A merchant cash advance can be characterized as an alternative financing option. You will be provided with financing upfront and will pay for the advance with a percentage of your business’s daily sales. This a good business funding option for small business owners who receive payments through cash, credit cards or checks, have a high volume of sales, and need to get the financing for their business quickly. Also, merchant cash advances are good for those cannot qualify for traditional bank loans. A Merchant Cash Advance: How Does It Work? Small business owners can apply for a merchant cash advance […]

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