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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

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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5 Creative Sources To Get Business Funding

Get the business funding you need If one of your dreams is to own a business in the US, then funding is undoubtedly among the major stumbling blocks you’re dealing with. A business is a venture, which means you have to put in some capital— to get it up and running—and then keep funding its operations for as long as it lives. And because money is always a limited resource, it takes a smart entrepreneur to weather financial storms every time they strike. You have to search in all places and go the extra mile because sometimes, your remedy is […]

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5 Tools to Help You Get Your Business Finances in Order

Streamline Your Small Business Finances Are you starting a new business and are not sure how to get your company finances in order? Do you own an established business and need to streamline your processes? Knowing what changes to make and using the right technology can make all the difference when keeping track of your small business’ information. As a small business owner, your time is limited. Paying attention to the following details and utilizing the tools below will help you significantly streamline your money habits, so you can focus on your business goals more and your bank statements less. […]

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Merchant Cash Advances Vs Invoice Factoring

The last 5 years have brought a 20% annual growth for the merchant cash advance (MCA) industry. Some companies go for merchant cash advances, while others choose invoice factoring. This article will draw a parallel between these 2 types of business financing. So, let’s go. Merchant Cash Advances A merchant cash advance (MCA) is also called a business cash advance. This is an alternative business financing option that’s not a loan. With an MCA, you get a lump sum of money in exchange for a certain amount of the future credit card sales of your business. You must pay back […]

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7 Scams Small Business Owners Should Know & Avoid

As a rule, scammers target smaller businesses instead of larger ones. Small businesses don’t have as many resources to fight fraud as big ones. This article is about the common scams that you, as a small business owner, should avoid. Also, it’s about a reliable and cheap small business loan you need to grow your company. Small Business Loan & Scams Scammers are getting more and more sophisticated day by day. They’re getting better at finding ways to hack businesses. Theft, financial statement fraud, and misuse of assets… Let’s go through the common types of small business scams you should […]

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Small Business Loans Are Approved by Banks Like Never Before

There comes a time in every new and seasoned business owner’s journey where they will need to take out a business loan.  Whether it would be to invest in new equipment, to purchase real estate for their expansion, or to increase their capital to handle their everyday operations, something will always be needed. The reality is that a little financial boost goes a long way in helping support business owners with growing pains, financial hiccups, and other challenges that are sure to come on their entrepreneurial journey. Historically, small businesses were denied bank loans 80% of the time. Especially since […]

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The Small Business Loan Checklist: Here’s Everything Your Lender Is Looking For!

How do you get hands on a small business loan without hassling from lender to lender? Your ability to pay back is key! Banks are more interested in your capacity to settle a loan than anything else. Here’s what they go through: Bank statements Business assets Debt utilization Practicality of your business plan Financial statements Business and Personal Credit Scores Your loan requests are not bearing fruits because the lender is not able to easily determine your creditworthiness. Make sure all the information you provide is accurate. Double-check from the most seemingly basic info like your name, phone number, tax […]

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