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Cares Act Blog Posts

By First American Merchant

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The 5 Key Points To Learn About The Paycheck Protection Program

Running a business is a demanding task, but the status quo almost doubles up the challenge for a small business owner. You have to make critical decisions that will influence your today and tomorrow, and almost all of them revolve around funding. Since the Federal government passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act and news of “a $350 billion small business relief fund” went viral, almost all microbusinesses want a slice of the cake. But do we understand what they are? The CARES Act provides funding through the Paycheck Protection program. And PPP loans offer funding up […]

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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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The CARES Act For Your Small Business

It is not easy to run your business as usual when Coronavirus has created serious disruptions in the order of operations. For many business owners, the catch is to continue serving their customers and rake in profits as usual, in a relatively volatile economy. And of course, money is the major bone of contention—many merchants would appreciate the convenience of a lump sum of commercial funding but most lenders are not well-placed to offer it. Nevertheless, the Federal Government leveled the field for US small businesses on March 27 when President Trump approved the CARES Act. The approval of the […]

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Ways to Minimize The Impact of Coronavirus on Your Business

Business Interruption and COVID-19 With stores shutting down to control spread and stocks plummeting at alarming rates, it’s hard to ignore the economic repercussions of COVID-19. No wonder on March 2, 2020, the Federal Reserve announced a 50 basis-points reduction in Federal Funds interest rates—the largest rate-cut it has made since 2008. The recent decrease places interest rates somewhere between 1.0 percent and 1.25 percent. But while that desperate move may try to hold the fort for America’s economy amid the Coronavirus crisis, citizens and businesses are still victims in many ways. “A broken Supply Chain.” Q1 of 2020 has […]

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