While the small business lending atmosphere has been improving in the last few years, it is still a chore for these businesses to secure the funding they need. At first glance, traditional bank loans seem like the most obvious method of financing. However, more than 82 percent of small business loan applicants are denied business funding by banks. Banks have strict requirements that make it very difficult to be approved. Applicants must have a stellar credit score and collateral. Seemingly endless financial statements and records and a certain amount of time in business requirements also make the process lengthy and […]

Are you curious about what an ISO is? In the world of merchant services, an Independent Sales Organization (ISO) is a third-party organization that represents a bank or other financial institution that sells and promotes its services. Also known as a “Merchant Service Provider”, an ISO sets up partnerships with various banks to find, open and manage merchant accounts on behalf of the financial institution it represents. After reaching an agreement, the ISO is then able to act as a representative of any financial institution with which they have an agreement. What is the Primary Role of an ISO? The […]

Cash is king when it comes to running a successful small business. To operate smoothly, you will need cash to pay salaries, fund marketing programs, purchase supplies and inventory, cover rent and invest in equipment, along with all other day-to-day expenses. But how do you know how much cash your business really needs? Do you have enough in reserve to weather unexpected financial situations and seasonal fluctuations? The following questions will help you analyze your current cash-flow and determine how much cash you really need: What does your cash-flow statement say? To find out how much cash your business has […]

You need a proper payment gateway because it is the one that validates a shopper’s credit card details and ensures you receive payments. A payment gateway is simply a service that allows credit card payments for on- and offline companies. It is more or less like a physical POS terminal in a restaurant or shop. It enables a customer to present their credit card details and safely passes this confidential financial info to the merchant, and then further to the bank. It is through the payment gateway that you learn whether the cardholder’s bank has approved the charge. After that, […]

Startups need capital to expand, but getting funds isn’t very easy for a starting business. Fortunately, today enterprises have the alternative of acquiring capital through financing firms like firstamericanmerchant.com. One product we gladly offer is the merchant cash advance. An MCA is technically a business loan, but more of an advance. The lender uses your oncoming future credit card sales as an asset. Therefore, you simply get an advance amount which you pay back as a portion of your firm’s day-to-day credit card revenue. So there are no collateral requirements for this loan because already a percentage of your debit/credit […]

The business owner’s list of “things to do” never ends. Time is always of the essence. So how do you create extra hours to tend to critical day-to-day tasks like marketing and staffing?   Or even share moments with your family? Yes, family, you need to maintain that crucial balance too, or you risk losing yourself and losing everything. Saving time is the only way to spare the extra you’ll need. And according to Deep Patel, a sure way to solve this problem is automation. This approach will help shed off the feeling that you need to oversee every operation […]

Every time you are pricing goods, profit is the one thing that lingers your mind. However, the best you can do for your micro-business is to not only set prices that will ensure profitability but ones that are market competitive. So if you’ve been feeling like you aren’t earning what you’re worth or making adequate revenue, then increasing prices is one way to solve it. On the other hand, keep in mind the present price as well as any future cost increases that may occur in a year, or two. A wrong way to go about it is to up […]

Let’s face it! Your chances of staying in business are slim if you can’t manage stable cash flow. In fact, a U.S. Bank study reported that over 80 percent of micro-businesses fail for the same reason. And many would conquer with these findings: because if a firm lacks enough working capital to hold up routine operations, then it is destined for closure. But again, you don’t want to “hoard” working capital as that may slow down your growth. You need to balance your cash flow such that enough funds are allocated to help seize expansion opportunities, and the rest kept […]

Working from home is a trend that’s here to stay. Today, there’s a proliferation of software apps and tools designed to make it easy for small business owners to run their business from home or anywhere. Which tools to choose? How to find best merchant cash advance companies for your business? This article will help you go with the right tools and find a reputable merchant cash advance provider to turn to. Be Present on Social Media Social media engagement is too important these days. LinkedIn and Facebook can help you connect with a community or an online forum virtually. […]

Have you decided to pursue financing for your business? What type of merchant funding are you interested in? Whatever it is, you should be aware of some important terms before applying for a business loan. Knowing the essential terms, you’ll be able to make an informed decision about financing your business. Also, the process will prove to be much more comfortable for you. Here are several key business lending terms to know: Business Credit Score Business credit scores, also called commercial credit scores, vary from 0 to 100. These scores help your potential lender determine whether your business is worth […]