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Small Business Blog Posts

By First American Merchant

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Small Business Grants for COVID-19 Impacts

Small businesses almost everywhere in the world are struggling from COVID-19‘s economic impact. In the U.S., merchants have a number of financing options for their businesses. This refers to both government-backed and alternative options. If you’re interested in small business grants or some financial relief, keep on reading the lines below. Small Business Grants in Different States You must be well aware of the Paycheck Protection Program (PPP), Economic Injury Disaster Loan (EIDL), and the SBA Express Bridge Loans. Let’s look at some business funding opportunities in different states. Have you heard that the Grays Harbor County Commissioners have given […]

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Treasury Department Too Secretive on Small Business Loans

Some time ago, the U.S. Treasury Department and the Small Business Administration (SBA) announced they’d start peering into the PPP loan cases. Now, they’ve already provided some data. If you’re interested in this and want to get reliable and cheap small business loans, you’re on the right page. Treasury & SBA on Small Business Loans The agencies announced they’d reveal the general amount businesses had received in the form of PPP payments. They started looking at the recipients’ addresses, demographic data, as well as at how many jobs those businesses were able to protect. They won’t provide names and would […]

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Lawmakers Under Fire for Securing Funds Meant for Small Business Owners

For some time now, there have been whispers that the half-trillion-dollar small business loan program intended to help small business owners during the COVID-19 pandemic was not being used solely for its intended purpose. For example, accusations have been swirling that big banks have been focusing on their existing, big customers – leaving other small businesses without help. Now, reports are saying that members of Congress have also taken their slice of the Paycheck Protection Program (PPP) funds, while countless business owners are still struggling. Specifically, four members of Congress have acknowledged close ties to companies that received PPP loans […]

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Alaska Small Businesses Struggling, Despite COVID Funding Assistance

When it comes to feeling the effects of COVID-19, Alaska has not been left untouched. Small businesses owners across Alaska are still struggling during the pandemic, despite the loans and grants intended to boost cash flow and carry them through this difficult time. While the Commerce Department has made $290 million in small business grants available, some small business owners are not eligible. While some nonprofits are eligible, others have found that they are not after receiving small federal loan advances. As a result, these businesses have had their operations come to a screeching halt. In an interview with KTUU, […]

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Small Businesses Cite Funding As Main Obstacle To Reopening

The lack of adequate small business funding is a source of great anxiety for small business owners.  Following the closures of most businesses, coupled with strict social distancing measures enforced during the COVID-19 outbreak, there does seem to be an “easing up” on regulations, allowing for businesses to slowly resume operations.  However, a recent survey conducted by LendingTree revealed a crippled confidence among business owners. According to the data, 46% of small business owners mentioned that funding was the number one hindrance that is keeping them from reopening. If they were to open, they would be subjected to strict safety […]

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What You Need to Know About a Small Business Loan

It’s been increasingly more difficult to get a business loan from a traditional bank or financial institution. Today, when the world is going through these hard times, it’s become even harder to obtain the necessary funding to keep your business alive. If a small business loan from the federal government or an alternative provider is something you’re interested in, read this blog post. State-Backed Loans for Small Businesses To help business owners survive the economic crisis caused by the COVID-19 virus, the U.S. government started offering more than one financing option. PPP or Payroll Protection is one of them. If […]

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How Small Businesses Can Survive COVID-19 Crisis

Many businesses are left without revenue in the U.S. This is especially true of restaurants and shops. This article is about what steps small businesses can take to survive. Also, you’ll discover who can best help you with funding like ACH business loans and not only. Steps to Survive the Crisis: ACH Business Loans When the virus spread, there were nearly 30.2m businesses in the U.S., as the Small Business Administration reported. They employed 5.9m people. As of May 20, 2020, according to the National Bureau of Economic Research, forty-three percent of businesses shut for a certain period of time. […]

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Second Round of PPP SBA Loans Now Available to Small Businesses

Within days, the first round of the Paycheck Protection Program (PPP) released at the start of April – $349 billion in funding – ran out of cash. The second round of funding is now available, as small businesses continue to struggle with almost no end in sight. The race is on for the small businesses owners that have yet to secure funding. On Friday, April 24, President Donald signed the $484 billion COVID-19 rescue bill, which includes $310 billion in new money for the latest bailout. This funding has been designated to help small business owners keep their employees on […]

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How to Apply for a Coronavirus Small Business Loan Under the CARES Act

PPP COVID-19 Loan Offers for US Small Businesses Coronavirus is the biggest bane of your existence in 2020 (and probably in your lifetime) — scary enough to shake the world economy and push governments into making unprecedented split-second moves. This is because failure to respond swiftly can mean an unbalanced ecosystem for citizens. As a result, US small businesses feeling the heat of the COVID-19 can now breathe a sigh of relief after the March 27 move. The Federal Government passed the CARES Act releasing over $375 billion to fund small business COVID-19 loans. Under the Act, US merchants can […]

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Business Loan, Personal Loan, or Startup Loan: Which Product is Good for Your Startup?

Business Loan, Personal Loan, or Startup Loan: Which Product is Good for Your Startup? The idea of starting and running a small business is rousing until you realize money is a scarce resource and you’ll need financial back up from time to time. Borrowing is no easy feat if you’re company is a startup— chances are even slimmer with banks and traditional lenders who use certain criteria that your new firm many not meet. As a result, many entrepreneurs turn to personal loans. But not all types can be used for commercial purposes, which is where the dilemma comes. So […]

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