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Small Businesses Blog Posts

By First American Merchant

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

13 Alternative Financing Strategies For Your Business

Starting your own business is loaded with risk. Most believe that you have to go in with your own funding to make things happen. This is not the case. In fact, there are 13 ways for you to acquire the finances you need to launch your business off the ground. Here Are The 13 Ways To Finance Your Business Don’t Reinvent The Wheel:  It’s too easy to fall into the trap of creating a business idea that is mind-blowing, innovative, and unique. However, none of this will guarantee success. Instead, focus on a business concept that has a proven track […]

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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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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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Despite Push For More Funding, PPP Money Still Unclaimed

Small business funding is largely underutilized due to stringent rules and endless changes.  The U.S. Small Business Administration will be closing their doors of approval for all Paycheck Protection Program loan applications on Tuesday June 30th. What this means is that more than $100 billion in “federal loan guarantees” for nonprofits and small businesses grappling with COVID-19 will remain untouched.  According to the SBA, the Paycheck Protection Program, launched on April 3, has awarded close to $519 billion in loans from private lenders and banks to almost 4.8 million borrowers. Based on these figures, that leaves an excess of $134 […]

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Clever Ways to Finance Business Costs Not Included in SBA Coronavirus Relief Loans

During their inception, SBA Covid-19 relief loans were seen as the perfect tool to survive this unusual pandemic. But many business owners are coming to terms with the harsh reality as applications get rejected and loan terms get clearer. The CARES Act provided Coronavirus Relief Funding through two programs; the Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDL). With possible federal loan forgiveness, the two funding programs seemed like the perfect deal until business owners realized that their terms can be unforgiving. For instance, small businesses have reported difficulties getting access to PPP loans. And those who are […]

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How is Your PPP Loan Application Coming Along? Here’s what to Do if it Fails

How is your Paycheck Protection Program (PPP) loan request coming along? Well, you’re not alone if your efforts don’t seem to bear any fruits. It’s unfortunate that small businesses, who were the target benefactors of PPP COVID-19 relief funding, have to sweat to get a slice of the cake. The CARES act allotted billions of dollars to help businesses through two programs; EIDL and PPP. The Paycheck Protection Program was exclusively meant to help small enterprises retain staff and cover payroll and other expenses amid coronavirus. Round One of the funding worth 349 billion dollars ran out sooner than we […]

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How Small Businesses Can Survive COVID-19 Crisis

Many businesses are left without revenue in the U.S. This is especially true of restaurants and shops. This article is about what steps small businesses can take to survive. Also, you’ll discover who can best help you with funding like ACH business loans and not only. Steps to Survive the Crisis: ACH Business Loans When the virus spread, there were nearly 30.2m businesses in the U.S., as the Small Business Administration reported. They employed 5.9m people. As of May 20, 2020, according to the National Bureau of Economic Research, forty-three percent of businesses shut for a certain period of time. […]

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6 Facts You Should Know about PPP Loan Forgiveness

Microbusinesses are struggling to survive the status quo; no wonder all eyes have been on the Paycheck Protection Program (PPP) fund, which Congress passed through the CARES Act. But small businesses must tread with caution because missing on a few details may mean trouble in the future. For instance, many small merchants only know that—if you take out a PPP loan— forgiveness or leniency is possible. But only a handful know what could compromise your chances of qualifying for leniency? First, if you already have such a loan, you have up to 8 weeks to max out the finances on […]

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