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small business loan Blog Posts

By First American Merchant

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

6 Tips to Help Your Struggling Business Get Back on Track

Owning and operating a small business has always been challenging. From insufficient cash flow and poor business practices to a disengaged team and no customers, there are many reasons why a business might find itself on the road of no return. Regardless of the cause, if you’ve found yourself on this path, it’s time to get some guidance. You’ve now started the real test of entrepreneurship: the ability to make it through tough times – and we are definitely living in a time of uncertainty and obstacles. If this year has left you with a struggling enterprise, here are six […]

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The Consequences of a Bad Credit Score to Your Business

A good credit score is a pivotal factor for businesses that want to acquire loans. Most businesses usually need additional funds to invest, thrive, and expand their reach. During such times, your credit rating may determine the lender’s decision.  What Leads To A Poor Credit Score?  A low credit score can be a result of various factors. For example, failure to cultivate your credit when the business was developing, financial struggles, or low revenue incomes. One must first learn the roots of their poor credit score to fix the issue. Lenders typically use details about your FICO ratings, which is […]

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Prepping Your Restaurant, Pub or Bar to Thrive in the Post-Pandemic Era

Restaurant and pub businesses have long suffered under a year-long pandemic that seems to be commencing a second wave. The business environment has revolutionized so much that failure to notice the ongoing changes is almost bottom-line threatening. Now, brands in these sectors must make a complete transition from where they seek commercial funding to how they search, attract, and serve customers. According to a July poll by UK’s Food Standards Agency, 31 percent of consumers admitted they wouldn’t eat at a restaurant “for the foreseeable future.” That result marks a significant increase from June’s 25 percent.  Consumers are gradually switching […]

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Business Funding to Gear Up for Festive Season

Government loan programs are fizzling out, yet the holiday season is a stone-throw away. How do you plan to meet the financial needs of your business at a time when nothing matters more than preparing adequately for the oncoming shopping spree? For many businesses, traditional loans are a no-go-zone because of failure to meet specific criteria. Plus, banks aren’t as willing to supply loans as before, given the pandemic’s uncertain nature and current economic status. And when your business is short of finances, you cannot achieve essential holiday season duties like; Refill or diversify your stock of goods for festive […]

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Top Franchise Financing Options for Aspiring Entrepreneurs

So, you’ve decided to buy a franchise? If you’re considering this option, your next thought might be how do I secure the financing I need to get started? The initial investment is very important. It includes all the expenses you will incur to get the ball rolling: franchise fee, grand opening, initial inventory, signage, leasehold improvements, supplies, equipment and more. How Much Is the Initial Investment for Franchises? The initial investment ranges between $75,000 and $500,000 for most franchises. However, the average cost typically floats around $250,000. Keep in mind this initial investment will vary by both industry and brand. […]

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Need Fast Funding? Complete Guide to Funding Your Small Business

The number of small business owners that have needed funding this year has been staggering. As the COVID-19 pandemic swept the nation, even businesses in stronger-than-most financial positions found themselves desperately in need of extra capital. Not for big plans or expansion goals, but for day-to-day operating costs and investments in new necessities like remote working teams. If your business is one of the many that is still in need of cash, the key is research. During such a stressful, overwhelming time, it’s easier to jump in with the first lender that will accept you. However, if you want to […]

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To Do or Not to Do: Is It Safe to Tap into a Merchant Cash Advance?

Reputation is king. Yet Merchant Cash Advances can be confusing for many small retailers and merchants. Public opinion is torn between their business-saving and bottom-line threatening capabilities. But come to think of it; this two-sided nature is a characteristic of all loan products. So the loan type isn’t always the problem; many other factors determine whether you benefit or plunge into bad debt. The cash advance product, however, has remained a sticking point for many reasons. It has a confusing reputation The cash advance model is still unclear for many merchants It uses factor rates instead of interests Can be […]

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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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Forgiveable Small Business Loans and Not Only

Small businesses hurt by the COVID-19 crisis have more than one source to get help from. This article will tell you what forgivable loan options you have in the State of Pennsylvania and the City of Miami. Also, you’ll read about a reliable alternative online lender to get funding assistance from. Small Business Loans: Pennsylvania 30 Day Fund The State of Pennsylvania offers a nonprofit Pennsylvania 30 Day Fund. This nonprofit program is backed by volunteers. To qualify for it, you must have 3-30 employees. To be eligible, businesses must also be owned and run by someone who resides in […]

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How to Apply for a Coronavirus Small Business Loan Under the CARES Act

PPP COVID-19 Loan Offers for US Small Businesses Coronavirus is the biggest bane of your existence in 2020 (and probably in your lifetime) — scary enough to shake the world economy and push governments into making unprecedented split-second moves. This is because failure to respond swiftly can mean an unbalanced ecosystem for citizens. As a result, US small businesses feeling the heat of the COVID-19 can now breathe a sigh of relief after the March 27 move. The Federal Government passed the CARES Act releasing over $375 billion to fund small business COVID-19 loans. Under the Act, US merchants can […]

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