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business loans Blog Posts

By First American Merchant

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3 Ways Small Businesses Unintentionally Fall into Debt

Running a successful business involves an interesting combination of risk, sacrifice and discipline. From time to time, it requires investment to see improvements. At other points, it means giving up something in the pursuit of something bigger. Above all, it demands discipline to achieve your ultimate goals.  Of course, one of the biggest risks for a business – whether a startup or an established company, is debt. Choosing to take on debt to secure much needed capital can be a smart decision, as long as you have a plan and capability to pay it back in a timely manner. However, […]

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Business vs. Personal Loan: 4 Reasons to Opt for Business Loans

At one point or another, every entrepreneur and established business owner faces the issue of funding. There is a long list of reasons why a company may need additional capital, from rapid growth and expansion needs to unexpected costs and new trends. The big question is, should they turn to a personal loan, or should they reach out to a business lender?  Some business owners shy away from traditional and alternative business loans because of the perceived risk, debt and interest involved. In reality, there are many advantages in using the right lending option for start-ups, small businesses, and large […]

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Why a Bridge Loan is Your Next Best Instant Funding Strategy

A bridge loan is a kind of short-term funding built to help a business meet its financial needs until it acquires a long-term loan. These loans are a life-saver, especially when you need instant funding to keep operations running or seize an opportunity. Entrepreneurs who apply for a bridge loan can use it to buy or upgrade assets or finance business operations. Then, as soon as their business acquires long-term funding, it utilizes the funds from the newly acquired long-term loan to settle the bridge.  Companies depend on bridge loans (most with higher interest rates than regular long-term funding) to […]

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Is Your Loan Provider Selling You What They Marketed? | Small Business Financing

How would you feel if you found out that the financing you’ve wound up with isn’t what your lender promised? From MCAs to business credit lines, lenders have designed a long list of funding products for small and medium businesses. But not all products are okay for every financial need. Speaking to PYMNTS, Flo Capital Co-founder Ryan Ridgway feels there’s often a bait-and-switch trick that most lenders use to lure business. How Bait-&-Switch Works According to him, loan providers can “dangle the carrot” with a particular product, only to sadly offer a retailer a different product, which might not fit […]

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PPP Loans: Best Practices and Grave Mistakes to Avoid

An injection of extra funding from the Paycheck Protection Program (PPP) is an excellent way to boost your business’s situation. Still, it’s almost criminal to ignore the finest details when applying for and using this loan product. An unfilled signature section can slow down your PPP loan request and delay access to funding. Poor record-keeping can also cause challenges when seeking loan leniency because you must account for every dollar spent to enjoy full forgiveness. PPP Loan Tips & Grave Mistakes to Avoid Below are some strategies to follow when seeking out a Paycheck Protection Program loan. Dental PPP Loan […]

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6 Important Loan Types for Your Business & Purchases

Do you have a striving business? Maybe you’re just starting or trying to move your existing business to the next level and you need to make urgent purchases, aren’t you? Whatever it is, access to additional working capital in the form of business loans, student loans, etc. is something almost all businesses and many people need at some point in their life. Let’s go through several options and find a reputable business funding provider in the U.S. Business Loans & Funding Options  Working capital can make or break your business. This is also true of people in need of financial […]

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PPP Loan Forgiveness Guide

Every business owner who applied for PPP funding had loan forgiveness in mind when they hopped on board. But up until now, only a handful know the leniency criteria and how to apply for it. With poor communication from loan providers and limited resources to refer to, most entrepreneurs now rely on incomplete info from their business counterparts or online sources. This guide will take you through everything you should know about leniency and the Paycheck Protection Program. What Requirements Must You Meet to Enjoy Leniency? PPP loans were disbursed in two phases but the loan leniency requirements are similar […]

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Minorities Claim It’s Harder To Launch And Grow A Business

According to a report by the US Federal Reserve, less than 47% of loan applications filed by African American business owners are approved. It was also found that more than 50% of companies owned by African Americans were actually rejected for business loans.  Although “black-owned firms” were more likely to seek financial help from banks, less than 47% of these applications were “fully funded”. Even more surprising, when black business owners did get approved for a business loan, the “rate of failure” to obtain financing in its full amount was the highest in all categories, exceeding 10%.  The rejection of […]

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Quick Financing Options for Small Business Owners

You encounter the real money challenges of running a business when you’re short of finances and in a tight situation that threatens to halt operations on your premises. Business financing is your safety during such times, and the quicker it comes, the faster you can fix the situation before it escalates into tragedy. So what are some of the fastest ways to get commercial funding to survive unexpected business expenses like equipment breakdowns, a pandemic, cash flow problems, or funding sudden growth opportunities? Invoice Financing Invoice financing is acquiring finances in exchange for your pending invoices. A business can finance […]

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PPP loans That Were Not Prioritized | Underserved Small Business Markets

In the crescendo of the pandemic, as businesses struggled to stay afloat despite tough economic times, most hoped the federal relief packages—the Paycheck Protection Program (PPP), in particular—would come to their rescue. But that wasn’t the case, according to KB and Katie Brown’s print business in Minneapolis. Even after applying with three lenders, they never received any Coronavirus relief loans disbursed between April and August. “It just doesn’t seem like the program was built to support small businesses,” lamented KB Brown, who is witnessing small companies in his Black-dominated and low-income communities suffer to their closure. “It’s bullshit.” Congress’s instructions […]

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