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high risk business loans Blog Posts

By First American Merchant

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

Alternative to High Risk Business Loans

High risk classification puts small business owners in a situation where it’s rather challenging to get approved for business funding, especially from traditional banks and financial institutions. High risk lending options feature long wait for approval, requirements of collateral that could be repossessed in the event of a default, and a detailed business plan that borrowers should submit. Thankfully, there are reputable alternative online lenders like firstamericanmerchant.com that offer alternatives to small business loans. These alternative funding options are flexible, fast, and have fewer requirements. High Risk Business Loan Alternative A merchant cash advance (MCA), which is surging in popularity […]

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Get a Merchant Cash Advance Without Being Scammed

A merchant cash advance can be described as purchases of future credit card sales receivables or short-term business loans. The demand for merchant cash advances (MCAs) is growing with rapid advances. The MCA industry came into existence as one of the most important sources for non-bank loans for many small businesses. Today, you can find many online funders that offer cash advances to small businesses that wouldn’t have historically been approved for a business loan from a traditional bank. It’s important to note that the industry is largely unregulated, so you shouldn’t trust all the companies offering a merchant cash […]

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Merchant Cash Advance – Right for Your Business or Not?

A merchant cash advance (MCA) has been surging in popularity in recent years. However, the industry is relatively young and dates back to 1998. The MCA industry was a response to a decline in small business lending from traditional banks. MCA has gone from $0 to $10.7 billion in 2015, and is expected to account for $15.3 billion in 2017. Getting a Merchant Cash Advance (MCA) Merchant cash advance companies can advance you a certain amount of cash depending on the amount of your monthly revenue. You agree to pay back that advance and a fee by letting the MCA […]

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Where To Get A Small Business Loan with Bad Credit?

Merchants who have bad credit are viewed as riskier borrowers by small business loan providers.  Creditors who lend money to bad credit merchants usually shy away from these borrowers since they aren’t sure high risk merchants won’t miss their payments or default. The Fair Isaac Corporation (FICO) calculates credit scores and provides the famous FICO score. The Corporation uses information from the 3 credit bureaus, Experian, TransUnion, and Equifax, and calculates the score. Be aware, your bad credit can cause a number of problems such as higher interest rates. According to FICO: Maxed-out card costs 10 – 30 points for […]

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How Small Businesses Owners Can Restore their Companies after a Hurricane

Much respect to all merchants who commit themselves to establishing great companies only to have them destroyed by natural disasters such as Hurricane Harvey and Irma.  While one may argue that business owners should prepare earlier for such phenomena, most startups lack the capital to invest on disaster recovery and continuity strategies. To provide such victims with a stepping stone to revival, here’s a useful list of benefits available together with links to get your on the provider’s websites and make the most out of them as fast as possible. Low Interest Loans:  SBA and USDA both provide loans with […]

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Small Business Tasks You Can Outsource

Outsourcing is a great means for startups or small businesses to reduce costs so to shift more revenue to operational growth and free up time. Outsourcing can account for continuity, and help you control your operational expenses and risks. Here are 12 tasks you can easily outsource to avoid making a critical mistake, save time, and focus your attention on your core business. Administrative Tasks: Appointments, Scheduling, and Answering Phones Small tasks can take most of your time each day. Outsource your administrative tasks so to be able to focus on the core processes of your business growth. Bookkeeping Avoid […]

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11 Business Development Tactics for Your Small Business

Who doesn’t want to control a large portion of the market, and wield much influence and power? There are several important growth strategies that small businesses can apply to expand their operations and occupy a larger share of the market. Here they are: Having a Strong Plan You’re the owner of your business and you have the necessary information about operations, finances, market conditions and other important issues related to your company. This knowledge can help you determine when and how your business should expand. By building a strong plan, you can avoid the negative effects of poorly managed growth. […]

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How Small Businesses Owners Can Restore Their Companies after a Hurricane

My commiserations to all merchants who commit themselves to establishing great companies only to have them destroyed by natural disasters like the most recent Harvey and Irma Hurricanes.  While one may argue that business owners should prepare earlier for such phenomena, most startups lack the capital to invest on disaster recovery and continuity strategies. To provide such victims with a stepping stone to revival, here’s a useful list of benefits available together with links to get your on the provider’s websites and make the most out of them as fast as possible. Low Interest Loans:  SBA and USDA both provide […]

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Financing Options For Your Small Business

Working capital loans are good financing options for small businesses. They can be used to purchase inventory, cover payroll, expand marketing and cater for daily operations. Here, we take you through some of the best working capital loans, how much they cost and the terms and requirement of each.  Short-Term Working Capital Loans Most institutions that offer short-term working capital are non-bank financial companies that give loans to the tune of $500,000 with a 3 year or lesser term. Short-term loans are a perfect fit for non-prime borrowers and merchants searching for working capital loans they can repay in a […]

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What’s the Cost of Opening a Marijuana Dispensary?

A surprisingly large number of weed enthusiast’s dream of starting up a medical marijuana dispensary. But turning any business plans into reality calls for a thorough understanding of the costs involved in the process of application and establishment.  Here are the procedures potheads who are looking to own a cannabis dispensary in the United States should follow. What is the Startup Fee? For a cannabis dispensary, there’s a rigorous application process intended to distinguish serious applicants from part-timers in the business.  For that reason, you must meet a number of qualifications before you begin enjoying the fun part of the […]

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