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business loan Blog Posts

By First American Merchant

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When is the Right Time to Seek Business Funding?

The moment you decide to go out and seek funding for your business is a significant milestone in your entrepreneurial journey.  It’s easy to get caught up in the excitement of starting a new venture, but it’s crucial that you take the time to consider how seeking funding will help or hurt you.  You want to ensure that your business has the best chance at success, so you must weigh all of your options and make an informed decision about what kind of funding is right for your company. When is the Right Time to Seek Business Funding 1. Your […]

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Why Business Loans are Difficult to Get

Getting a merchant loan is one thing, but getting the loan denied is devastating. Several factors keep you from getting a business loan, and bad credit is the major problem, though they are preventable.  Ways of boosting your credit score and enhancing your approval chances  If your credit history reveals that you cannot repay your debts, you will have difficulty obtaining a business loan. If you have recently filed for bankruptcy, you may find it hard to secure a company loan because you have no history of repaying bills. Your creditors will hesitate to offer you money when you file […]

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Small Businesses Seek Financing to Deal with Inflation Head-On

The hot topic of the last few months has been inflation. Inflation has been tough for everyone, including small business owners. As the rollercoaster of the pandemic has eased – shutdowns and supply chain disruptions – the newest concern has become the shocking inflation. As prices continue to fluctuate, maintaining a consistent cash flow has become increasingly difficult for business owners. The need for a way to ease the impact of ebbs and flows in costs has become top of the priority list. Many small business owners are now seeking long-term solutions to handle this inflationary period head-on. Why You […]

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How to Easily Secure a Startup Business Loan in 2022

Starting a small business has always been expensive. Fast forward to our post-Covid world, trying to get a business everything it needs to hit the ground running can feel next to impossible. If you’re currently juggling doubts and questions, never fear!  Every small business owner faces startup expenses. These expenses will vary depending on your business type. Whether you need heavy machinery or a new laptop, coming up with the cash for equipment can be difficult. On top of that, you need to purchase inventory, pay contractors, cover rent and meet payroll.  To make matters more complicated, outside funding can […]

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Time Is Money: Get a Business Loan Fast

You can’t take your business off the ground or move to new heights if you lack enough financing. How can you obtain a business loan fast? Thankfully, there are reliable providers of business funding so you won’t have to wait weeks for a bank to process your loan application. When You Need Access to a Business Loan Obtaining a business loan can sometimes prove to be a long and complex process. Let’s take SBA loans. Don’t expect to get them fast. Typically, they require you to wait a few months to go through. So, they can’t be the best solution […]

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6 Steps to Get a Business Loan With Bad Credit

Have you heard taking out a business loan with bad credit is impossible? That’s not right. It’s difficult, but it’s possible. You just need to know what steps to take and turn to a reputable high-risk merchant funding provider in your field. Getting a Business Loan With Bad Credit Let’s start with the minimum credit score, the most famous FICO score. Usually, lenders take into account different factors when determining your eligibility, and different lenders set different minimum credit scores for borrowers. However, they usually require you to provide a minimum personal credit score of at least 600. This is […]

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The Length of Your Business Loan

Long-term business loans are the preferred option for many. They enable the borrower to make the loan repayment over a longer period, but this results in higher amounts lost on interests. For how long can you get a small business? Repayment Terms for Small Business Loans  What’s the most usual answer to “how long can you get a business loan for”? Well, the majority of long-term business loans require borrowers to make payments during one – five years. With SBA, loan terms can be up to 25 years. Overall, there is more than one nuance associated with loan terms. Overall, […]

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How Do Business Loans Really Work: The Fundamentals

How Do Business Loans Really Work: The Fundamentals Business loans are well known for feeling overwhelming. They can be confusing. They often lack clarity. And most of all, they can feel impossible to secure. In reality, business loans are similar to personal loans.  The process is much the same. You first apply to the borrower, generally a bank. You request a set amount, go over the details, and wait to find out whether the firm will lend you the money. If they agree, you will then have some requirements or interest rates involved. This is where the confusion comes in. […]

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Why Merchant Cash Advances are an Ideal Funding Source for Physicians

Why Merchant Cash Advances are an Ideal Funding Source for Physicians From time to time, like any business, medical practices can benefit from additional capital and an array of business loans. Growth, obstacles, and opportunities tend to come when we least expect them to – and they all require cash. However, many physicians are unsure where to start and which options are best suited to their industry. Some physicians find Small Business Administration (SBA) loans are suited to their needs. But others have found they are actually better off with alternative or new financing solutions. That being said, you might […]

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Are Unpaid Invoices & Customer Debts Slowing You Down?

Monitoring and maintaining cash flow is an essential part of running a thriving business. Unpaid invoices and bad debts can lead to a business’s downfall. You need money to maintain operations, replenish stocks, and so on. A slight delay in cash flow can cause financial constraints and interrupt activities. The ongoing pandemic has further resulted in many cash flow hitches. Firms are struggling to stay open. And to counter these challenges, businesses have begun paying closer attention to cash flow issues by prompting their clients to pay on time.   A business is more likely to reduce bad debts by developing […]

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