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Small Business Blog Posts

By First American Merchant

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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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Remote Work for Your Small Business Employees

When we think of office space, we think of our place of work, but sometimes the office can be an obstacle for work. That may seem strange to think about at first but give it further thought.  Do you deal with stress from traffic commuting to and from your office? Once at your office are you finding distractions from co-workers, phones ringing or the AC being too cold? Do you feel like there always seems to be something that isn’t your work that’s taking your attention?  Recent data shows that remote work has drastically grown to 159% in the last […]

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Managing Costs Wisely While Expanding Your Small Business

There comes a time in a businesses’ life cycle when it experiences a successful launch, which is soon followed by success and growth. Although reaching this point is incredibly exciting and has proven the viability of the business, a new set of obstacles and challenges must be met head on. At this stage of growth, the small business owner begins to get pulled in a myriad of directions: managing an increasing level of revenue, attending to customers, dealing with the competition, and accommodating an expanding workforce, just to name a few. As your business continues to grow and develop, so […]

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The Fed’s Approval for Payment-Services Fees in 2020

The Federal Reserve (the Fed) Board has given its approval to the new payment-services fees schedule for this year. It’s 2.4% higher as compared to the previous year. If you want to learn more about the topic and discover an exceptional merchant services provider, keep on reading this post. Payment-Services & Credit Card Processing Fees Credit card processing fees represent the cost that merchants pay for credit card payment processing. The total cost is based on more than one piece such as transaction fees, flat fees, and incidental fees. In Q1 of 2019, the annualized rate of real GDP growth […]

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Documents Small Businesses Need To Keep Hard Copies Of

Apart from the daily operations of a business, small business owners must also contend with keeping important documents accessible at a moment’s notice. From taxes to financials and critical customer information, these documents must be easily pulled for reference. Although using a cloud storage system may be all your business needs for easy access, having hard copies are sometimes necessary. In most states, for example, it’s a legal requirement for a limited liability company (LLC) to have a copy of its operating agreement in its “primary place of business”. Business licenses and permits should also be available in hard copy […]

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