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business advice Blog Posts

By First American Merchant

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Small Business Tips for Securing Alternative Business Loans

Long wait times, complicated contracts and services, and support that misses the mark; this is what many small business owners deal with when trying to secure financing. Banks can keep you waiting weeks or months to tell you that you’ve been denied funds in the end. The very next question is, where do I go from here? If you’re looking for funding, you’ll be glad to hear there are other ways to secure the funding you need. In fact, these alternatives often turn out to be better for many business owners. The following information should shed some light on why […]

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4 Reasons why a Business loan application is rejected

Receiving the daunting feedback to tell you a business loan application has been denied is both scary and frustrating. Moreso, if you require the money to continue your business operations or start your business venture. Fortunately, some common factors may cause a merchant loan to be declined. Putting these factors into consideration strengthens your future applications and makes it easy for you to receive the loan amount you need. Poor Credit Score A credit score shows the lender your trustworthiness and specifies the risk level presented by your borrowing. Lenders will evaluate both your business and personal credit score when […]

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9 Common Financing Mistakes to Avoid

Are you a startup founder? You might be faced with the common challenges all starters come across on their way. Avoiding financing mistakes is critical to your success. Let’s discuss several top mistakes that you should sidestep so not to fail in the early stages. Also, let’s see where you can find reliable and cheap startup lending in case you need access to additional working capital while growing your business. Common Financing Mistakes & Startup Lending  Did you know that 2 out of 10 startups fail in their 1st year, as the Bureau of Labor reports? Starting up isn’t easy, […]

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5 Money Management Tips to Keep Your Business Afloat

Tough times come and go. Of course, you want your business to be permanent and strong. To muscle through uncertainty and economic downturns, your business will need to adopt and maintain solid money management. If you find handling cash flow difficult and time-consuming, you’re not alone. In fact, nearly half (42%) of small business owners admit managing cash flow is a big challenge. But maintaining working capital is a must if you want your business to succeed, rain, or shine. The following tips will help you learn how to manage your small business’ money effectively and develop good financial habits: […]

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3 Ways to Support Black-Owned Businesses Moving Forward

After weeks of protests, many Americans have stepped back and are asking themselves some serious questions. Specifically, “What can I do differently”? If you are one of the many wondering how you can make a difference and create lasting change to reduce long-standing racial disparities, one easiest ways to get started is to support black-owned businesses. While this might seem like a small piece of a massive puzzle, it is something that can make a big impact, especially if it is something people continue to do long after the spotlight has lifted from the issue. Here are a few tips […]

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4 Things We Can Learn from Female Political Leaders amid Covid-19

It’s sad that we still consider our women second best after men in many aspects of life. This disregard continues even after a woman has worked hard to earn an administrative or leadership role. But Coronavirus has led to a new revelation regarding women and their ability to lead. For some reason, women have shown more resilience and creativity when it comes to surviving a crisis. Perhaps it explains the many recent feminine headlines praising the critical role of women political frontrunners from all corners of the globe. Being a leader or owning a business is not an easy feat […]

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Powerful Motivation Techniques to Inspire Your Whole Team

Team members respond best when they know they are contributing to a larger purpose, greater than themselves. They crave a work environment where their input is taken with respect and consideration. They want to continue to grow and develop their skills and creativity. Since people differ in what truly drives them, a leader’s prime responsibility is to identify what those motivational tactics are. Keeping both team members and leaders fully engaged in the organization’s goals is what will guarantee long-term success as well as weather the storms. Here are 13 powerful motivation techniques to take your team to the next […]

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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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4 Ways Using a Credit Card Can Build Your Credit Score

Having a bad credit score can be a nightmare, especially for the new entrepreneur. Your credit score is made up of five major components. Focusing on each of these components is key to establishing and maintaining a good credit history. These components will affect your FICO score (the score lenders will use to determine your credit risk): Payment history (35% of total credit score) Credit utilization (30% of total credit score) Length of credit history (15% of total credit score) New credit accounts (10% of total credit score) Mix of credit accounts (10% of total credit score) But what if […]

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Common Difficulties New Entrepreneurs Face Today, and How to Overcome Them

Congratulations! You have finally waved your nine-to-five job goodbye and are ready to get your business off the ground. However, expect a rocky road to a satisfactory destination. Creating a profit-generating and self-sustaining enterprise is not an easy task. The first few months are often the toughest, as an entrepreneur struggles to get a good share of the overly competitive market. Nonetheless, you can remedy most of the challenges you’ll face as the owner of a new business. Let’s have a look at some of them below. Choosing the right business The world of commerce treats bad ideas harshly. Many […]

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