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small business loans Blog Posts

By First American Merchant

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

Short Term Loans Defined

Short term loans are ideal for those who have a temporary funding need for personal/business purposes. For more information about this type of business financing and an exceptional provider, keep on reading the lines below.  Short Term Loan Definition If you need to obtain this type of credit, be aware you’ll be required to pay it back by within a certain period of time (typically a year from getting the funds). This means you must pay back the debt quickly, from where we have the name “short term.” Other loan types with longer terms are known as medium or long […]

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Consider the Following When Applying for Your Next Business Loan

Small business loans are your cushion anytime your company threatens to hit rock bottom. The term “small business loans” is an umbrella description of various forms of funding, but your priority as a retailer is to pick the right product. And many times, your needs determine the right loan for you. So you must understand how these loans work to make the most of them. What’s a Small Business Loan? It is a form of funding a bank or lender offers a business in return for interest and fees, and payback (of the lent amount) in a defined schedule throughout […]

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The CARES Act For Your Small Business

It is not easy to run your business as usual when Coronavirus has created serious disruptions in the order of operations. For many business owners, the catch is to continue serving their customers and rake in profits as usual, in a relatively volatile economy. And of course, money is the major bone of contention—many merchants would appreciate the convenience of a lump sum of commercial funding but most lenders are not well-placed to offer it. Nevertheless, the Federal Government leveled the field for US small businesses on March 27 when President Trump approved the CARES Act. The approval of the […]

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5 Alternative Funding Options for New Small Business Owners

Small business owners need funding options So much creative thinking and careful planning go into launching a new business. However, starting a small business is just as challenging as it is thrilling. As you maneuver through the early days, you are bound to face many obstacles, like finding the right source of funding for your business type and industry. Without enough capital, you will be unable to materialize your business ideas. Secure your funds Securing business funding for a startup is not an easy or straightforward task. For many, it is one of the biggest challenges of all. Traditional lenders […]

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How to Use Funding for Your Small Business

So you have been approved for a loan and you are now itching to use this fresh injection of cash to take things to the next level. So where do you start? Before you jump feet first and begin spending with abandon, seriously consider what your overall business goals are. Doing so will keep you disciplined and focused on only directing funds where you need it most. One of the primary goals of any business in existence is growth. Ask yourself where this much-needed influx of cash can be used to facilitate expansion. What investments can you make that will […]

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When a Cash Advance Boost Can Get You Out of a Crisis

What is an MCA? How governments or other entities can boost cash advances to avoid an economic or financial crisis? This article will tell you some basic points concerning MCAs. What’s more, you’ll learn about a reliable and cheap MCA from an exceptional business funding provider. Easy Access to a Cash Advance In recent years, MCAs have become a preferred choice for many entrepreneurs as a business funding option over traditional loans. Importantly, if you think an MCA is a loan, it’s not true: an MCA is just a sale. Thanks to an MCA, you can use your credit card […]

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Applying for Merchant Funding? Lending Terms to Know

Have you decided to pursue financing for your business? What type of merchant funding are you interested in? Whatever it is, you should be aware of some important terms before applying for a business loan. Knowing the essential terms, you’ll be able to make an informed decision about financing your business. Also, the process will prove to be much more comfortable for you. Here are several key business lending terms to know: Business Credit Score Business credit scores, also called commercial credit scores, vary from 0 to 100. These scores help your potential lender determine whether your business is worth […]

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Learn Why an ACH Business Loan is Good for Small Businesses

More than 25.5 billion Automated Clearing House (ACH) payments totaling about $43 trillion were made in 2016, according to NACHA statistics. NACHA is the organization that manages the ACH, which is the main network that processes most of the electronic debit and credit transactions in the United States, and is funded by the financial institutions it governs. That 2016 figure is an increase of about 1.3 billion from 2015, which represented growth of 5.4%. As consumers move further away from paper money and shift to move toward an electronic, interconnected and mobile infrastructure, it’s no surprise that the number of […]

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Mom-and-Pop Businesses Vs Mega Chains

According to the US Small Business Administration, there are 28.8 million small businesses in the US. Small businesses, which include those with fewer than 500 employees, represent 99.7% of all business in the US. Between the middle of 2009 and the middle of 2013, small businesses created 60% of the jobs. When it comes to larger stores, 20 of the largest US-based supermarket and grocery store chains are ranked alongside the 250 largest retailers in the world thanks to the revenue they have. Of the 250 world’s largest retail chains, 25% are classified as strictly being supermarket and grocery store […]

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Hard Vs Soft Credit Inquiries. Do They Impact Your Credit?

Those who have applied for a small business loan, taken out a mortgage, or signed up for a business credit card, know what credit check or credit inquiry is. A credit inquiry helps lenders and financial entities determine whether you can be eligible for loans or whether they can approve you for home rental, credit card, and so on. Credit Inquiries and Credit Scores Credit inquiries stay on credit reports for a maximum of 24 months (2 years). They’ll only affect your FICO credit score for a maximum of 12 months. To get a better idea of how credit inquiries […]

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