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Business Funding Blog Posts

By First American Merchant

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Credit Check for PPP Loans: Will Credit Affect or Not?

Are you a business owner in the U.S.? The government offers various support options to help you fight the created situation. The Economic Injury Disaster Loan (EIDL program) or Paycheck Protection Program (PPP) are among the support programs offered by the government. If details concerning the credit check for PPP loans and alternative options are the thing you’re interested in, read below. PPP Loans & Alternative Funding to Fight the Crisis The COVID-19 virus has damaged so many lives and businesses around the globe. The state-backed Aid, Relief, and Economic Security (CARES) Act is developed to help businesses fight the […]

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10 Strategic Hotel Financing Options During COVID-19

The hotel industry among others has felt the greatest negative impact of the COVID-19 crisis. Unfortunately, the economic uncertainties are still ahead. If you need financing for your hotel business, this article will help you with some hotel financing options during COVID-19. Hotel Financing Options During COVID-19 The decision to close hotels and several other businesses has brought a disruptive effect of the travel ecosystem. So, the tourism industry worldwide has been hurt a lot. The Federal Reserve has recently lowered the interest rates to a significant extent, and the prime rate was 3.25% as of March 20, 2020. This […]

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Is a Merchant Loan Right For Your Business?

Are you looking outside your company for additional working capital? Any business may need financing to improve cash-flow problems or for other purposes at some point in time. This article will help you draw a parallel between 2 popular types of business financing, a merchant cash advance and a loan. Merchant Cash Advance (MCA) First of all, remember that an MCA isn’t a loan. A merchant cash advance was originally called to serve as a lump sum payment that business owners could obtain in exchange for a set percentage of their future credit/debit card sales. One of the top advantages […]

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5 Alternative Funding Options for New Small Business Owners

Small business owners need funding options So much creative thinking and careful planning go into launching a new business. However, starting a small business is just as challenging as it is thrilling. As you maneuver through the early days, you are bound to face many obstacles, like finding the right source of funding for your business type and industry. Without enough capital, you will be unable to materialize your business ideas. Secure your funds Securing business funding for a startup is not an easy or straightforward task. For many, it is one of the biggest challenges of all. Traditional lenders […]

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5 Creative Sources To Get Business Funding

Get the business funding you need If one of your dreams is to own a business in the US, then funding is undoubtedly among the major stumbling blocks you’re dealing with. A business is a venture, which means you have to put in some capital— to get it up and running—and then keep funding its operations for as long as it lives. And because money is always a limited resource, it takes a smart entrepreneur to weather financial storms every time they strike. You have to search in all places and go the extra mile because sometimes, your remedy is […]

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COVID-19-Business Funding For Your Business | The Cares Act

The COVID-19 virus has caused catastrophic damage, amassing tens of thousands of casualties around the world. In addition to the tragic loss of life, the global economy continues to suffer a violent disturbance as millions of people are ordered to stay home and have little contact with others, much less frequent their favorite businesses and shops. As a result, many small businesses have suffered a disastrous loss of revenue, with little hope for recovery. Some may survive the outbreak, but a larger amount may have to shut operations for good. Despite the outbreak’s implications on small businesses, there is hope […]

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How To Access Business Funding Online

Access the Business Funding you need There has been a surge of small business loan options like never before. Online applications and the technology that support them have facilitated and streamlined the process, making it easier to investigate your options and applying for a loan. The best online lenders in the industry approach small business lending entirely different from a traditional bank or credit union. By utilizing today’s innovative technology and evaluating features that make a healthy business, lenders are equipped to make credit decisions instantly and provide much-needed capital for businesses. This is done in a matter of days […]

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What Businesses Receive Alternative Small Business Loans, and Where to Turn for Help

At some point during the business startup process, business funding crosses every entrepreneur’s mind. Needing extra capital isn’t a matter of if, but when. Some business owners seek support from friends and family at first, but as their business grows, they find themselves in need of larger sums of cash to fund opportunities and expand their operation. Unfortunately, securing funding is easier said than done. There is a long list of business types and industries that struggle to secure funding for one reason or another. In fact, according to recent small business lending statistics, nearly half of all small businesses […]

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4 Steps to Create a Workable Small Business Plan

What makes a great business plan? In addition to writing and covering all the key details, your business plan needs to be workable. Many templates outline the most important and common business plan information you need to include but miss one crucial element: creating a step by step plan. Your business plan is a road map, helping you navigate new territory and maintain your focus on your business goals. You need to not only detail precisely what you intend to do, but also how it will come to fruition. You need a workable business plan. To ensure you create a […]

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The Cares Act SBA Relief Loan Program | Paycheck Protection Program (PPP) Information

Take advantage of the Cares Act SBA Relief Loan Program The Paycheck Protection Program (“PPP”) authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. All loan terms will be the same for everyone. The loan amounts will be forgiven as long as: The loan proceeds are used to cover payroll costs, and most mortgage interest, rent, and utility costs over the 8 week period after the loan is made; and Employee and compensation levels are maintained. Payroll costs are capped at $100,000 on an annualized basis for each employee. Due […]

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