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cash advances Blog Posts

By First American Merchant

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What YOU Need To Know Before Getting a Cash Advance

There are plenty of good things about a cash advance… and a few bad ones. Below are the key things you need to know before obtaining a cash advance. Fixed Fee (also called the Buy Rate or Factor Rate): This number is how much you’ll eventually have to pay back. Generally it’s written with a decimal point (ex: 1.30), but you might also see it as a percentage (30%). The math is pretty simple: you get the number you’ll have to pay back by multiplying the cost of your advance with the fixed fee. For example, on a $1,000 loan, […]

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Are You In Need of Extra Cash in Your Busy Season?

Some may think that owning a seasonal business is a holy grail, as an owner together with his employees works hard only during the high season, and it can be just several months a year. Meanwhile, they slack off the rest time of the year. Sounds good, isn’t it? It is strange and yet true, running a seasonal business requires year-round work and good self-organization. It has some challenges, but the first, and the biggest is that the merchants should make money for the entire year in a few short months. A success of any company lies in going with […]

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Business Funding Options For Low Credit Score Holders: What is Out There For You

For many traders, bad credit is nearly impossible to avoid. Because a business relies on customer revenue, its loans and bills are rarely paid on time. And although the lenders and billing companies often give the merchant a few more days before branding it a late payment and invoking additional fees, credit reporting agencies usually update your credit file the minute you extend your stay with a loan or bill. That said, a merchant can’t afford to get frustrated when their credit score makes it hard to acquire funding. The best option is to look for alternative ways of raising […]

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Funding Your High-Risk Business – Why You Should Choose a Cash Advance

The high-risk sector is lucrative, but it is also marred with difficulties. Among the many challenges merchants in risky industries face is raising funds. Banks and other traditional lending institutions rarely issue loans to businesses that have a large probability of failure, and when they do, they usually choke up the recipient with high-interest rates and strict requirements. Business owners are often left grappling to find alternative sources. If you ask an expert, they’ll likely advise you forego high-risk business loans, and instead apply for a cash advance. And below are some reasons why it would be a good idea […]

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5 Steps to Prep for a Business Loan

High risk merchants often have a hard time acquiring business loans. Lenders view merchants in high risk industries as undesirable investments, even if the business owner is an experienced entrepreneur. But it is possible for high risk merchants to find and attain the necessary funds to start and grow their businesses. The following are a 5 steps to getting a business loan. Develop a Business Plan Many business owners only know that they could do with some extra cash. Lenders are not likely to disburse funds unless you can tell them exactly where the funds are going and how they […]

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A Guide for Choosing the Best Small Business Funding Option

Most business entrepreneurs choose to fund their startups through their own cash or savings. While this approach works well for many business owners, there will come a time when additional capital is required from the outside. With alternative lending options constantly evolving, small business owners are finding it easier and easier to evaluate what each lender is offering them (pricing, rates, terms, etc.). Ultimately, these non-bank lenders offer more choices. While it is fairly easy to find a list of alternative lending options for a small business, knowing what to consider while evaluating those lenders is not always as transparent. […]

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6 Steps To Take Before Applying For A Small Business Loan

Small businesses are cornerstones of every country’s economy. If you’re considering to start a small business, you should take into account the financial risks and challenges you may face as an entrepreneur in today’s world of business. There are several important steps to take when applying for a small business loan. Here they are: Know Exactly Why You Need a Small Business Loan Determine why your small business needs a loan. You will have to repay the loan so it should serve the purpose of growing and expanding your business. Lenders will take your business more seriously if you can […]

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Bad Credit & Bankruptcy Woes: Cash Advance is a Great Business Funding Option

The numbers for Americans filing bankruptcy has gone up in the past ten years. While others employ many of these filers, some are self-employed. This can cause trouble not only for their person financing, but also for any issues involving their businesses. While a person bankruptcy should not affect a business, it does. The problem does not come from loss of business, or stagnant business, but rather the solutions to fix these issues. Business funding options are slim for those with good credit, so imagine the challenges for those with bad credit or a bankruptcy. Interest rates for a bank […]

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FAM Supplies Cash Advances for Small Companies with Bad Credit

New small businesses spend almost 50 percent of their sales on marketing, while established businesses spend almost 30 percent annually. This may seem like a lot of money, but marketing is the life blood of a good business. It builds your brand, generates buzz, and wins customers. Unfortunately, too many business owners ignore marketing and it is often the first thing cut when money gets tight. If there’s little to no room in the budget for marketing, there are still some good financing options available to business owners. For New Businesses There are a variety of options for start-ups to […]

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The Importance of Rewarding Returning Customers

Winning new customers is a must for any business, but it is easy to forget your faithful and continuous customers. If you have only been giving out offers and discounts to new, potential customers, the ones who have been there and continue to be there might become a little sour. They might begin to feel “ignored”. While getting new customers is a necessary business strategy in order to grow, it is still important to recognize the customers that have helped to build what you already have. A large portion of your time and energy should be devoted to finding ways […]

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