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alternative business loans Blog Posts

By First American Merchant

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How Internet Sales Tax Will Affect eCommerce

The Decision by the US Supreme Court The Supreme Court’s rule allows states to require the collection of sales taxes for online purchases. This refers to any area in the US that the seller might be located. This new decision stems from a lawsuit filed by the State of South Dakota in 2016 against online retailers Wayfair, Overstock.com, and Newegg. Daniel Castro, who’s the Vice President of the Information Technology and Innovation Foundation, says that the ruling aims to ensure consumers will pay sales taxes through large corporations like Amazon or Etsy. Beyond that, it’s made to stop unfair competition […]

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Alternative Business Loans: Funding When The Bank Says No

Which funding product have you been going for lately? Is it working for your business or do you feel like you need a better option? Well, there are alternative business loans to go for. Have you heard of MCAs, also known as Merchant Cash Advances? Well, you must be curious to understand why this new-age business financing option is taking over other popular forms of micro-business funding and why merchants are increasingly choosing merchant cash advances over small business loans. Many retailers mistake a merchant cash advance for a short-term loan, or maybe a high-interest advance. But in reality, it […]

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How to Get Alternative Business Loans for Contractors

Contractors work on projects that are very time sensitive. Access to the necessary working capital is critical to contractors trying to complete their projects, which may require machinery, materials, laborers, and other things during an intensive period. If you’re interested in alternative business loans for contractors, just read this article. Alternative Loans for Businesses Business owners in industries like development and contracting who have applied for loans through traditional banks are well aware of the troubles associated with loan approvals. Loans from traditional banks require insurmountable requirements, as well as a long process of getting approved. On the other hand, […]

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3 Risks Business Face and How to Properly Manage Them

Do you have plans to take your business idea and launch a startup in the New Year? If you are feeling a little overwhelmed with the task, know you are not alone. As you piece your business plan together and iron out the details, make sure you also consider the risks involved. Here are three of the major risks you will face in starting a business, along with three business relationships you should develop to mitigate those risks. 1. Sales Risk No matter what business type you have or industry you are in, there is always a risk that your […]

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10 Things to Know When Rebuilding After a Natural Disaster

Natural disasters such as floods, hurricanes, tornadoes, volcanic eruptions, earthquakes, tsunamis, and other geologic processes can cause loss of life or property damage. You can read several helpful tips in this article that will help you recover and get out of the situation. Damage Caused by Natural Disasters Globally, 8.700 people were killed by natural disasters in 2016. This is down from 25.400 in 2015. Global natural disasters resulted in $175 billion in damage in 2016. The global cost was the highest in 4 years. Only 30% of the losses ($50 billion) were insured, according to the German reinsurance firm […]

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Retail Inventory Management Tips for the Holidays

The holiday season accounts for 20% of the retail industry’s annual sales. It’s often responsible for up to 30% of some individual retailer’s sale. Based on 2016 ecommerce statistics, gift cards are the most desired holiday gifts. The biggest days of sales for retailers and ecommerce businesses are on the 22nd and 23rd of December. According to the National Retail Federation (NRF), holiday sales are projected to increase 3.6% – 4% for a total of $678.75 billion to $682 billion in 2017. This is up from $655.8 billion in 2016. Since holidays are such an important time of year that […]

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Four Things a Bank Won’t Let You Know When Applying For A Business Loan

Applying for business loans is one way to fix disturbing issues and keep operations running in your business. As an entrepreneur, having supplementary funding can help you move forward and set things straight in areas where you face challenges. However, it is wise to weigh different options when looking for lenders and financing options. While going for traditional banks may look like a feasible possibility, it is important to inquire the details of their loan options, application procedure and the overall process. Find out a few things a bank will not share with you when discussing a loan. On top […]

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Building Credit With No Credit

If you’ve decided to apply for financing, be aware there are generally 2 ways to check whether you’re eligible for it or not. The 1st one is the traditional “credit check.” In this case, a hard inquiry is put on your account, and the loan provider reviews your credit score and credit bureau reports to figure out whether you can qualify for business funding or not. The 2nd one is the so-called “no credit check,” when the lender takes into account other factors so to determine your eligibility. What is Credit Check? A typical credit check is also called a […]

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Bank Isn’t Your Friend? Merchants are Looking for Alternative Business Loans

Forget applying to banks to get a loan for your business. Most of them stopped being in the “give a loan to a small company who has no collateral” business in 2007. This does not, however, mean that you are out of options to fund the growth of your company. Below are some of the anti-bank ways to finance your new business. Retirement accounts  Borrowing money from your IRA or 401(k) can be tempting. First consider a 60 day interest free loan from it. There are no fees if it is paid back in this time frame. Remember: This is […]

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Quick Business Funding Options for Construction Industry Businesses

Construction financing continues to be a challenge for many contractors, due to a number of economic factors. For example, contractors are very sensitive to economic cycles and revenue fluctuations from year to year. Excessive competition and the volatility of the industry are also an issue. For banks, credit underwriting issues are a big obstacle for banks in lending to these firms (construction company failures, unpredictable nature of the work, the estimates used in financial statement(s) preparation, etc.). Like any other business, a lack of financing causes many problems for construction firms. Without adequate cash, the company will be unable to […]

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