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2017 October Blog Posts

By First American Merchant

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

Holiday Product Trends and Loans for Your Retail Business

The holiday shopping season doesn’t technically begin until Black Friday, so it’s never too early for you, as a retailer, to discover what new and exciting retail trends are waiting for you in the 2017 holiday season. Black Friday and Cyber Monday offer a huge business opportunity. Online shoppers spent about $3 billion on Black Friday weekend in 2016, including almost $1 billion in mobile sales alone. In 2017, the top 3 retail trends that will impact the holiday shopping season are: Shopping from home The mall as you once knew is gone Companies are focusing on customer senses to […]

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Tips to Help You Manage Your Construction Business Expenses in the Winter

With expenditures accounting for more than 1.162 billion US dollars, the US is among the largest construction markets around the globe. Within the US, the majority of new construction projects are coming on stream in New York, which leads the list concerning construction expenditure in American cities. As a rule, construction works drop off in the fall and don’t continue till it’s spring. During the offseason, construction firms still need funds to pay overhead and provide an income for employees and owners. Here are tips to use for managing expenses during the offseason. Plan How You’re Going to Handle Your […]

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Business Corporate Identity Tax Theft

Every American business has its own Social Security number, also known as a Federal tax ID, Employer Identification Number (EIN) that identity thieves can target. In July 2017, the IRS warned that tax refund identity theft scams targeting US businesses were becoming more widespread. Corporate Identity or Business Identity Theft 2015 witnessed an embarrassing breach in which cyber-thieves stole $39 million in federal refunds based on personal identification data hacked from over 700.000 taxpayer accounts on an IRS website. This year, 107.000 individual victims have been registered through May, which is down from 204.000 in May 2016 and 297.000 in […]

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How to Offer a Computer Store Customer Financing Program

There are so many benefits in using a computer store customer financing program. If you are a student with limited cash, you can easily finance a quality computer. If you were in the middle of an important project and your old computer crashed, you can quickly finance a new device to make sure you meet that deadline. If you are curious about this program, consider the consumer financing programs First American Merchant (FAM) offers: First American Merchant’s Computer Financing Programs A computer store customer financing program offers three levels of funding: primary, sub-prime, and no-credit-check financing: Primary Programs –include the […]

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10 Things to Know When Rebuilding After a Natural Disaster

Natural disasters such as floods, hurricanes, tornadoes, volcanic eruptions, earthquakes, tsunamis, and other geologic processes can cause loss of life or property damage. You can read several helpful tips in this article that will help you recover and get out of the situation. Damage Caused by Natural Disasters Globally, 8.700 people were killed by natural disasters in 2016. This is down from 25.400 in 2015. Global natural disasters resulted in $175 billion in damage in 2016. The global cost was the highest in 4 years. Only 30% of the losses ($50 billion) were insured, according to the German reinsurance firm […]

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Hard Inquiries vs. Soft Inquiries— How long Hard Pulls Stay on your Credit?

Sometimes the pressure that comes with running a business may push you into rushing for new loans and seeking new credit cards pointlessly without realizing its effect on your credit score. Lenders may fail to approve you if you have made several credit inquiries depending on the loan you wish to apply for. Achieving good credit and clearing your debts calls for a proper understanding of hard pull vs. soft pull inquiries. It is important to realize that some credit or loan inquiries can negatively affect your score for a very long period, even up to two years. ​What’s a […]

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Turn Cash Advance Paper into Working Capital

Are you looking for options to help your clients find funding for business growth and other business-related projects? Would you like to sell merchant accounts and earn a residual income doing so? If so, consider what a merchant cash advance ISO agreement has to offer. A merchant cash advance (also known as a business cash advance) provides businesses with the working capital they need to cover day-to-day expenses, payroll, inventory, equipment and fund plans for expansion, among many other things. If a business is looking for quick access to working capital, a cash advance is a great option. A full-service […]

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Retail Inventory Management Tips for the Holidays

The holiday season accounts for 20% of the retail industry’s annual sales. It’s often responsible for up to 30% of some individual retailer’s sale. Based on 2016 ecommerce statistics, gift cards are the most desired holiday gifts. The biggest days of sales for retailers and ecommerce businesses are on the 22nd and 23rd of December. According to the National Retail Federation (NRF), holiday sales are projected to increase 3.6% – 4% for a total of $678.75 billion to $682 billion in 2017. This is up from $655.8 billion in 2016. Since holidays are such an important time of year that […]

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Myths About Small Businesses in America

It’s shocking how a lot of propaganda is floating around concerning small retail shops (commonly known as mom-and-pop stores) these days. Honestly, all myths surrounding the experience as a startup business owner are often exaggerated. These myths can scare you from venturing into a niche that could be very profitable or, equally, convince you into going after opportunities that don’t really exist. Discover the most common myths about mom-and-pop shop and the truth about small business. Mom-and-pop stores are fading away Truth: While startup businesses are not always at par with established business all the time in terms of revenue […]

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4 Ways Using a Credit Card Can Build Your Credit Score

Having a bad credit score can be a nightmare, especially for the new entrepreneur. Your credit score is made up of five major components. Focusing on each of these components is key to establishing and maintaining a good credit history. These components will affect your FICO score (the score lenders will use to determine your credit risk): Payment history (35% of total credit score) Credit utilization (30% of total credit score) Length of credit history (15% of total credit score) New credit accounts (10% of total credit score) Mix of credit accounts (10% of total credit score) But what if […]

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