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Michael Hollis Blog Posts

By First American Merchant

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

Anti-Money Laundering Lapse Costs Morgan Stanley $10 Million

Wall Street’s industry funded watchdog fined The brokerage unit of Morgan Stanley must pay $10 million for failing to comply with its anti-money laundering program, according to Wall Street’s industry-funded watchdog group, Finra. Finra (Financial Industry Regulatory Authority) reported that the brokerage unit’s lapses occurred for more than five years, from January 2011 until April 2016. According to Finra, Morgan Stanley’s automated surveillance system did not receive important data from its other systems, resulting in the firm’s inability to track tens of billions of dollars of wire and foreign currency transfers. Some of these transfers were from countries that have […]

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Why Your Merchant Funding Request Was Rejected

For businesses operating on a tight financial situation, it is very frustrating to have a bank refuse your loan application. But it can also be the opportune time to rethink your submission strategy, learn your mistakes and come back prepared next time. The first thing a savvy business loan applicant does is to find out why the bank rejected them. Legally, your commercial finance provider should send you a denial notice and explain in it their reason(s) for taking that path, but only a few bankers go by the book. Nevertheless, these are the most common whys your submission didn’t […]

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Is Customer Financing for Small Business Right for You?

Are you a small business owner interested in offering financing to your customers? Are you looking to make a large purchase? Why not opt for customer financing for small business? Learn more about this type of financing. Consumer Financing for Small Business Customer financing is a striking opportunity to get one’s desired products/services from a business up-front without paying the full sum at once. It’s a 3rd party consumer financing company that makes the payment instead of the customer. The financing provider pays for the goods/services up-front, and the customer pays the provider back in installments due to a payment […]

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Policymakers Targeting MCAs as Small Business Continue to Suffer Skyrocketing Interest Rates

As micro-business loan interest rates skyrocket, access to business financing is increasingly limited for small companies— the sector that runs a large portion of the US economy. But a set of policymakers and protestors plan to limit access even more under the pretext of consumer protection. Interest rates hitting the roof means that the rates at which one bank lends reserve balances to another are increasing, raising the prices (for small companies) for obtaining businesses financing via bank-issued traditional loans. With the exponential rise in costs, consumers will be left with even fewer dollars to settle exorbitantly higher interest rates […]

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How a Micro Business Can Network On a Tight Schedule and Budget

Savvy micro business owners can never overlook the significance of small business networking in making the critical connections they need to expand their firms. Interrelating with would-be business partners, shareholders, or clients promotes loyalty and a strong business rapport which later open up new doors. And so far, we’ve discovered lack of time as the major stumbling block preventing micro business owners from networking—it’s hard to spare some hours to attend conferences or events when you have a buzz of activities going on in the office. But because you can’t do without networking, here are great ways to make sure […]

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Strengthen Your Business with a Merchant Cash Advance

The merchant cash advance business has exploded. Are you looking for business funding that can help you make significant headway? How can you and your business benefit from an MCA? Just read below to get help with all this. An MCA Can Strengthen Your Business An MCA, which isn’t a loan, allows you to leverage your future earnings so to access the necessary working capital conveniently. As soon as you receive your funds, you’ll start paying the amount back through a percentage of your daily credit card deposits that the lender will take. Since this is a sales transaction and […]

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Online Lending Supervision: What DFS Recommends

New York’s Department of Financial Services or DFS proposed new rules and regulations in 2018. The aim was to significantly affect online lending. If you’re interested in all these new rules and regulations, as well as reliable and affordable lending over the internet, just read below. DFS on Online Lending Small business lending is developing with each year. The results of various surveys speak of this as well. Overall, online lenders are a striking source of business funding for merchants who aren’t found eligible for loans from traditional banks or other financial institutions. In 2018, the DFS introduced a report […]

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Merchant Cash Advance Can Do More Than You Think

Are you a small business owner seeking out additional funding? A merchant cash advance or MCA can be of great benefit to your business. This is especially fine for those who need quick business financing with little hassle. This article will tell you more about an MCA and where you can obtain it easily. How a Merchant Cash Advance Helps You Did you know that a merchant cash advance or MCA isn’t a loan? It’s just a sale. An MCA has become one of the most popular options of business funding for small business owners who’re in need of fast […]

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Bad Credit Loan: Poor Credit Isn’t the End of Your Business

Your dedication, passion, and hard work aren’t enough for growing your business. Having access to the necessary working capital is no less important. So, what can you do if you have a less-than-stellar credit score but are in need of reliable and affordable bad credit loan?  Here’s what you can do. Bad Credit Business Funding Business loans are among the most common funding sources for merchants all over the world. However, this doesn’t mean that all merchants can get easily approved for them. If you have poor credit, expect to meet some challenges when trying to get approved for business […]

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Business Funding for Landscape Business

Are you trying to figure out the best growth strategy for your landscaping business? What are the main tasks you’ll need to do in this regard? If you want to know how you can apply a more finessed approach to your business and where you can find business funding for landscaping business, just read below. Steps to Take When Growing Your Landscaping Business The landscape services industry boasts an annual revenue of billions of dollars. If you own a landscaping business and want to develop a successful strategy for growth, read the following tips: Start your landscaping business by acquiring […]

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