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2020 September Blog Posts

By First American Merchant

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

Short Term Loans Defined

Short term loans are ideal for those who have a temporary funding need for personal/business purposes. For more information about this type of business financing and an exceptional provider, keep on reading the lines below.  Short Term Loan Definition If you need to obtain this type of credit, be aware you’ll be required to pay it back by within a certain period of time (typically a year from getting the funds). This means you must pay back the debt quickly, from where we have the name “short term.” Other loan types with longer terms are known as medium or long […]

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What Differences Line of Credit & Credit Cards Have

Do a line of credit (LOC) and a credit card seem like apples and oranges to you? No need to worry. This article draws a parallel between these two options, as well as tells you about an exceptional business funding provider so you can make the right choice.  Line of Credit vs. Credit Card: Differences These 2 financing options mainly differ in the following: with an LOC, you get funds against a revolving credit line instead of a lump sum associated with a loan. As for a credit card, in this case, you purchase products/services and then pay off the […]

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Business Loan Terms to Know When Applying for Funding

Different business loans come with different requirements. To be able to choose the right business funding for your business, you should be well equipped with the knowledge, including business loan terms, before entering the world of business financing.  Business Loan Terms & Funding to Know All merchants are looking for easy access to small business financing at the cheapest possible rates. No one likes long applications, complex repayment options, difficult-to-manage accounts, and a slow funding process. To avoid falling into a misleading situation where you can’t make the right choice, it’s important to learn business loan terminology. Annual Percentage Rate […]

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Business Loans to Overcome Hard Times & Crises

If you need working capital to overcome challenging times like the COVID-19-related situation, you can find more than one loan option to apply for. The right loan for your business can help you survive and move to the next level even when passing through hard economic times. So, if you need help with business loans from a reputable merchant services provider, keep on reading this post.  Business Loans to Survive Hard Times Almost all business owners face difficulties when trying to obtain access to working capital during critical times, let alone the high risk ones. The Federal Reserve’s 2019 Small […]

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5 Money Management Tips to Keep Your Business Afloat

Tough times come and go. Of course, you want your business to be permanent and strong. To muscle through uncertainty and economic downturns, your business will need to adopt and maintain solid money management. If you find handling cash flow difficult and time-consuming, you’re not alone. In fact, nearly half (42%) of small business owners admit managing cash flow is a big challenge. But maintaining working capital is a must if you want your business to succeed, rain, or shine. The following tips will help you learn how to manage your small business’ money effectively and develop good financial habits: […]

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Credit Card Lending Shifts Strategies Amid COVID-19

In the past few months since the global pandemic swept the nation, consumers and businesses alike have been met with unprecedented challenges. Many businesses have closed their doors, never to reopen. Thousands of other companies continue on, but are unsure of where they will find the extra cash they need to keep going. Meanwhile, countless citizens are currently unemployed and wondering when things will get back “to normal”. This has all spurred changes in the credit card lending sector. The beginning of this month, several unique strategies were rolled out in U.S. credit cards: First, Capital One responded to the […]

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Where Businesses Can Turn for Capital – And Which Option is Right for You

Moving into the second half of 2020, so many business owners are in need of extra working capital. It has been a tough year, to say the least, and now we’re moving into the bustle of the holiday season. If you’re planning on launching a business soon, you are in even greater need of sources of financing. So, where’s the best place to find additional working capital? And how do you know which one is right for your business’ unique needs? Here are some of the top sources of small business financing, along with important questions you should ask to […]

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Difference Between a Grant and Business Loan + Alternative Funding

Running a business isn’t a simple thing, especially during challenging times. Business loans help you expand your company and take it to the next level successfully. In this article, you’ll see the difference between a grant and business loan so to come up with the best solution for your business.  Business Loans, Grants & Alternative Business Funding Options  Think of a business loan as funds that you can obtain from a bank, credit union, or another financing institution. This is an opportunity to get temporary access to working capital that you’ll be required to pay back over time and with interest.  When […]

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To Do or Not to Do: Is It Safe to Tap into a Merchant Cash Advance?

Reputation is king. Yet Merchant Cash Advances can be confusing for many small retailers and merchants. Public opinion is torn between their business-saving and bottom-line threatening capabilities. But come to think of it; this two-sided nature is a characteristic of all loan products. So the loan type isn’t always the problem; many other factors determine whether you benefit or plunge into bad debt. The cash advance product, however, has remained a sticking point for many reasons. It has a confusing reputation The cash advance model is still unclear for many merchants It uses factor rates instead of interests Can be […]

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How to Prepare Adequately for a Business Loan Application

You never know the critical role of business loans until your company falls between a rock and a hard place, and an injection of funding is your only haven. And of course, no one wants to plunge into a debt cycle in the name of saving their business. So you want to use some sure sources of commercial funding— loan products that can help drive success. Proper preparation is the key. Hurried borrowing can lead to business-threatening debt traps. And here’s the catch; if you (the borrower) can make a higher return on the lender’s loan fees, then the product […]

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