sales@firstamericanmerchant.com
Give us a call for more info 1-800-210-5649

Business Funding Blog Posts

By First American Merchant

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

MBDA Awarded $10M in Small Business Federal Funding

On June 22, the U.S. Department of Commerce, Minority Business Development Agency (MBDA) announced it was allocating $10 million under the CARES Act to the network of MBDA business centers and national minority chambers of commerce. To know more about the topic and how to get alternative financing for your minority business, follow the lines below. COVID-19 Funding for a Minority Business MBDA is the top federal agency helping the minority business community develop and expand. According to the agency, COVID-19 has brought a particular impact on minority communities and businesses, and they’re going through severe challenges. The agency is […]

Read More…

Increased Risk From Stimulus & PPP Payments

There’s a growing risk associated with stimulus and PPP payments. This article is here to tell you more details concerning the situation and the PPP payments. Stimulus & PPP Payments       Under the CARES Act, more than 2 trillion dollars went into the American economy. Mostly, the money has been going directly to individuals: these are the very stimulus checks. The money has also been going to small businesses in the form of Paycheck Protection Program (PPP) loans. Consumers are spending their stimulus payments, and the PPP loan recipients are looking for forgiveness of their loans under the CARES Act. This […]

Read More…

5 Reasons Why Successful Businesses Choose to Borrow Money

Especially as a business owner, ‘debt’ can be a scary word. You have already taken on so much risk in starting a business, so taking on more can feel very overwhelming. However, there are many reasons why businesses borrowing money can turn out to be beneficial for their success. The following are just a few of the reasons why you might want to consider it in the future or whenever the need might arise: Boost cash flow The lifeblood of any business is cash. Without efficient cash flow management, a business can quickly find itself in a situation where it […]

Read More…

Congress Unanimously Approves 5-Week PPP Money Extension

At the close of June, President Donald Trump signed a bill re-opening the application window for the Paycheck Protection Program (PPP), extending the deadline until August 8. This five-week extension was approved by both chambers of Congress with unanimous consent. This move will ensure this source of funding stays open a little longer for the many struggling small businesses currently navigating COVID-19 challenges. The PPP was initially launched in early April as the pandemic hit the U.S. economy hard and forced many businesses to close their doors and/or pivot their brand strategy, offerings, and budgets. The program has gone through […]

Read More…

Ideas for Starting a Business During Covid-19

COVID-19 has severely hit the global economy, and the recession is coming. Almost all businesses are in an awfully difficult situation. To succeed in these unprecedented times, business owners are trying to come with a new idea to overcome the hardships. Are you starting a business? Do you need ideas to start? Who can help you with business financing? No worries. Just keep on reading the article below to get answers to these questions. Starting a Businesses During COVID-19 COVID-19 has put so many people out of business. To survive, many decided to start a new business that can meet […]

Read More…

Despite Push For More Funding, PPP Money Still Unclaimed

Small business funding is largely underutilized due to stringent rules and endless changes.  The U.S. Small Business Administration will be closing their doors of approval for all Paycheck Protection Program loan applications on Tuesday June 30th. What this means is that more than $100 billion in “federal loan guarantees” for nonprofits and small businesses grappling with COVID-19 will remain untouched.  According to the SBA, the Paycheck Protection Program, launched on April 3, has awarded close to $519 billion in loans from private lenders and banks to almost 4.8 million borrowers. Based on these figures, that leaves an excess of $134 […]

Read More…

Alternative Business Funds During COVID-19 Recovery

A crisis like the one caused by COVD-19 puts businesses of almost any size and type into a difficult financial situation. If you can’t get approved for a state-backed funding option or need another financial source, look for alternative resources. If you’re interested in nontraditional business funds during COVID-19 recovery, you’re at the right place. Alternative Business Funds During COVID-19 Recovery Federally-backed funding options under the CARES Act give you access to additional working capital. However, they aren’t the best option for all businesses, and many merchants have had difficulty obtaining them. Let’s see what nontraditional solutions are available for […]

Read More…

New House Bill Gives Business Owners More Time to Use PPP Loans

A recently passed bill in the House of Representatives has many small business owners breathing a sigh of relief. This new legislation, the Paycheck Protection Program Flexibility Act, addressed concerns expressed by entrepreneurs across the country. These business owners have been adamant that changes needed to be made around loan forgiveness – one of the main attractions of the Paycheck Protection Program (PPP). The PPP was initially created by the CARES Act, the $2.2 trillion coronavirus relief law. In early April, forgivable loans were first issued through this Act to small business owners struggling to stay afloat during the current […]

Read More…

Health Providers Need Business Funding to Weather COVID-19

As the current coronavirus pandemic continues, businesses are finding themselves in a tighter and tighter position. Most have had to either shutdown for a period of time or completely alter their service and product delivery methods. Restaurants, salons, retail stores, gyms and many others have had to quickly adapt and find creative ways to still engage with their customers and meet their needs. These unprecedented times have not only impacted the way businesses operate, but also the way healthcare is delivered. The current crisis is so dramatically different from anything experienced that it has even put the medical field in […]

Read More…

17 Small Business Financing Options Available

Small business financing can be found through many different avenues.  One major factor that will ultimately determine your venture’s success is financing. If your fledgling business is in desperate need of capital, take a look at these traditional and not-so traditional financing avenues to offer your enterprise a much-needed financial boost.  Alternative Financing Solutions: Community Development Finance Institutions: They provide capital to both small business and microbusiness owners with reasonable terms. They don’t need much collateral like traditional banks.  Venture Capitalists: This group assumes partial ownership of the company in exchange for capital. Percentages of ownership are up for negotiation […]

Read More…