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COVID-19 Blog Posts

By First American Merchant

Feel free to give us a call for more info 1-800-210-5649

Ensuring Financial Stability Amidst COVID-19

The COVID-19 pandemic is inarguably the biggest trial the financial system has ever faced to date. This worldwide health crisis has produced an unparalleled “macroeconomic shock”, thrusting the global economy into a recession of an undetermined scale and period.  Because of COVID-19’s direct impact on businesses, there needs to be an aim to protect financial stability as well as its “liquidity”. In a time when the markets, operations, and revenue could be fast-changing, business owners must react rapidly to a change in cash and capital.  What You Can Do Now With the current COVID-19 crisis, you need to analyze what […]

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Small Business Grants for COVID-19 Impacts

Small businesses almost everywhere in the world are struggling from COVID-19‘s economic impact. In the U.S., merchants have a number of financing options for their businesses. This refers to both government-backed and alternative options. If you’re interested in small business grants or some financial relief, keep on reading the lines below. Small Business Grants in Different States You must be well aware of the Paycheck Protection Program (PPP), Economic Injury Disaster Loan (EIDL), and the SBA Express Bridge Loans. Let’s look at some business funding opportunities in different states. Have you heard that the Grays Harbor County Commissioners have given […]

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MBDA Awarded $10M in Small Business Federal Funding

On June 22, the U.S. Department of Commerce, Minority Business Development Agency (MBDA) announced it was allocating $10 million under the CARES Act to the network of MBDA business centers and national minority chambers of commerce. To know more about the topic and how to get alternative financing for your minority business, follow the lines below. COVID-19 Funding for a Minority Business MBDA is the top federal agency helping the minority business community develop and expand. According to the agency, COVID-19 has brought a particular impact on minority communities and businesses, and they’re going through severe challenges. The agency is […]

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Treasury Department Too Secretive on Small Business Loans

Some time ago, the U.S. Treasury Department and the Small Business Administration (SBA) announced they’d start peering into the PPP loan cases. Now, they’ve already provided some data. If you’re interested in this and want to get reliable and cheap small business loans, you’re on the right page. Treasury & SBA on Small Business Loans The agencies announced they’d reveal the general amount businesses had received in the form of PPP payments. They started looking at the recipients’ addresses, demographic data, as well as at how many jobs those businesses were able to protect. They won’t provide names and would […]

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Increased Risk From Stimulus & PPP Payments

There’s a growing risk associated with stimulus and PPP payments. This article is here to tell you more details concerning the situation and the PPP payments. Stimulus & PPP Payments       Under the CARES Act, more than 2 trillion dollars went into the American economy. Mostly, the money has been going directly to individuals: these are the very stimulus checks. The money has also been going to small businesses in the form of Paycheck Protection Program (PPP) loans. Consumers are spending their stimulus payments, and the PPP loan recipients are looking for forgiveness of their loans under the CARES Act. This […]

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How to Build a Successful Start-up Business: Checklist

Do you have an idea and want to turn it into a successful business? Today, the availability of the internet has opened up new doors for those trying to launch a business. The COVID-19 crisis has highlighted the importance of having an online business once again. So, let’s see what steps you should take for a successful start-up business. Successful Start-up Business: To-Do List  To ensure success for your new business, there’s a to-do list to take into account. So, what does it imply? Go for the right business for you, meaning find a need and fill it. Find a […]

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Lawmakers Under Fire for Securing Funds Meant for Small Business Owners

For some time now, there have been whispers that the half-trillion-dollar small business loan program intended to help small business owners during the COVID-19 pandemic was not being used solely for its intended purpose. For example, accusations have been swirling that big banks have been focusing on their existing, big customers – leaving other small businesses without help. Now, reports are saying that members of Congress have also taken their slice of the Paycheck Protection Program (PPP) funds, while countless business owners are still struggling. Specifically, four members of Congress have acknowledged close ties to companies that received PPP loans […]

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Alaska Small Businesses Struggling, Despite COVID Funding Assistance

When it comes to feeling the effects of COVID-19, Alaska has not been left untouched. Small businesses owners across Alaska are still struggling during the pandemic, despite the loans and grants intended to boost cash flow and carry them through this difficult time. While the Commerce Department has made $290 million in small business grants available, some small business owners are not eligible. While some nonprofits are eligible, others have found that they are not after receiving small federal loan advances. As a result, these businesses have had their operations come to a screeching halt. In an interview with KTUU, […]

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4 Tips to Keep Your Business Going During COVID-19 Crisis

It has been nearly sixth months since the COVID-19 pandemic swept the nation and created massive waves for the economy. The current crisis has created significant challenges for small business owners in particular. Even those that were thriving before the pandemic have felt the effects of limitations or sustained closure. As more and more small business owners wonder how they are going to pay their bills and cover payroll – or stay in business at all – most are having to turn to outside sources of funding. Many are also having to pivot to adhere to health and safety guidelines […]

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Congress Unanimously Approves 5-Week PPP Money Extension

At the close of June, President Donald Trump signed a bill re-opening the application window for the Paycheck Protection Program (PPP), extending the deadline until August 8. This five-week extension was approved by both chambers of Congress with unanimous consent. This move will ensure this source of funding stays open a little longer for the many struggling small businesses currently navigating COVID-19 challenges. The PPP was initially launched in early April as the pandemic hit the U.S. economy hard and forced many businesses to close their doors and/or pivot their brand strategy, offerings, and budgets. The program has gone through […]

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