Credit card processing seems simple enough: Get a merchant account and set up your equipment, and you’re good to go. But for very small businesses — such as mom-and-pop shops, one-person operations and home-based sellers — the decision to accept credit cards means having to consider some very unique needs. From the difficulty of getting approved for a merchant account to losing money from fees and facing the challenges of using the same technologies as large corporations, the road to accepting credit cards can be rough. Nevertheless, small businesses don’t have to be at a complete disadvantage. Just because you’re […]

  A business cash advance can save the day for a business that needs to access quick capital and has adequate day-to-day cash flow on their merchant account to repay the loan.  The purpose of this type of loan justifies the possible high cost of an advance. And since credit requirements are less than when applying for a small business loan, a cash advance could be the best option for any business that conducts plenty of credit card transactions each month but has a poor credit profile. The Application Process The average time for approval of a business cash advance […]

A merchant cash advance permits a merchant who accepts payments through credit cards or has extra receivables or payment streams to acquire an advance of the finances that flow through their merchant’s account. Most people mistake MCAs for loans, however, a Merchant Cash Advance is usually based upon a company’s future credit card sales or revenue. Any small business can easily apply for a cash advance to enjoy quick advance deposits into their account. Most Advance Cash providers have different criteria for risk evaluation and assessing credit that differs from what traditional banks offer. At First American Merchant we look […]

It turns out that the United States is a home for many aliens of Hispanic origin. According to a report by the Census Bureau, approximately 55 million Hispanics, just about 17% of the whole nation’s population reside in the U.S. Moreover, there are over four million businesses owned by Hispanics throughout the U.S. What’s more, according to the United States Hispanic Chamber of Commerce, Hispanic-owned companies have recorded a notable boost in revenue amounting to more than $660 billion. And this is contributed to by the fact that entrepreneurs of Hispanic origin have been establishing businesses 15 times the country’s average […]

Struggling to find the merchant account services you need? If you’ve been turned away by the bank – or multiple banks – it’s time to consider what a high-risk provider can offer you. For the “high-risk” business, small business funding and payment processing services continue to be difficult to find. A high-risk provider offers safe and secure options, regardless of the risks involved with a business type or industry. First American Merchant, for example, is a full-service provider. Meaning, their team of professionals have years of experience helping “hard-to-approve” merchants secure all the services they need to operate smoothly and […]

Recent studies have revealed that Americans buy more electronic cigarettes (e-cigarettes) than anyone else in the world. According to Euromonitor International, the U.S. accounted for around 43 percent of the $8 billion market in 2015 – more than triple the level of the second-largest market, the U.K. However, if you assumed that this thriving market was easy to operate in, you would be wrong. Despite being a billion-dollar industry, e-cigarette businesses struggle to find merchant accounts and payment processing solutions. Without a merchant account, these businesses are unable to process debit and credit card transactions. It goes without saying that […]

For the business overwhelmed with accounts receivable, collection agencies are the good guys. They step in and hold the business’ customers financially responsible for the goods/services they have yet to pay for. Even so, some collection agency’s actions tarnish the reputation of others who operate honestly. Thus, collection agencies are typically classified as “high risk” and struggle to secure the merchant accounts they need. Even the collection agency startup with honest intentions will feel the effects of this industries reputation when they apply for a merchant account. This stress only adds to the overwhelming and intimidating process of collecting debts […]

Are you considering your options of getting financing for your business? Many entrepreneurs turn to a bank to obtain a small business loan, but very often they feel hopeless after being rejected. Banks tend to reject more people than they approve. Even if banks give you a green light, you’re likely to pay higher interest rates. Business Loan Challenges According to the 2016 Small Business Credit Survey from 12 Federal Reserve banks across the US, which was conducted in the last half of 2016 and included over 10.000 employer firms across all 50 states, small businesses feel optimistic about the […]

Your numbers can dictate whether or not you can get access to working capital. You will be classified as eligible or ineligible for business financing based on your credit score, good or bad. Good and Bad Credit Scores If you have high scores, you’ll be able to find funding sources without difficulty. Moreover, you’ll find a variety of sources to choose the right one for your business needs. On the other hand, if you have poor credit scores, the variety will narrow significantly. What is worse, you may even find out there no options for you to choose. Because of […]

A Merchant Cash Advance, sometimes is also referred to as credit card receivable funding. It can be characterized as an alternative method of funding a small business, which is based on credit card sales. It’s quick, efficient, and easy to manage. To receive a Merchant Cash Advance, merchants should provide a predictable credit card sales volume. This business loan alternative is turning into one of the most popular forms of financing for small business owners. Today, many merchants prefer a Merchant Cash Advance to a business loan. If you think a Merchant Cash Advance is a short-term loan, or a […]