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By First American Merchant

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

A Guide to Merchant Cash Advance Underwriting

The merchant cash advance (MCA) industry was born back in 1998 as a response to a decline in small business lending from traditional banks. The MCA was introduced through a company called AdvanceMe (now known as CAN Capital). Interested in a Merchant Cash Advance? The merchant cash advance can be described as a category of SME financing, which, however, differs from other SME financing options. Regulators don’t consider MCAs loans, so this type of financing isn’t subject to the same legislation that governs other types of small business financing options. According to a report by one of the investment banks, […]

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Financing for Customers Buying Tires with Bad Credit

According to financial experts, the best way to improve credit is to pay bills on time each month. You, as a merchant running a tire store, can help your customers with bad credit build their credit and get new tires for their vehicle. Merchants Can Help Bad Credit Customers Get Tire Financing People with good credit can enjoy the best interest rates when borrowing money. As credit score goes down, interest rates go up because lending money becomes of greater risk to the company. The same refers also to those having no credit history, but can’t be said about people […]

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How to Offer Customer Financing Without Breaking the Bank

Today’s consumer lending environment is rather complex. The reason has to do with ever-increasing customer demands, regulatory changes, and the revolution brought about by the digital world. Offering financing options to consumers helps businesses obtain one of the most effective tools for increasing revenue. Since there are a variety of lending programs that can meet the needs of different consumers, both large and small businesses have access to financing that fits the needs of the most of their current and future customers. Consumer financing programs are also great for local businesses competing with large-scale department stores. Benefits of Customer Financing […]

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What is a Lease Purchase?

At times buying big ticket products, e.g. furniture or computers may not fit into your tight budget or timeline. But you don’t have to fret now that lease purchases are now available. The lease to purchase allows you to lease an item, with an option to buy, for an affordable weekly, bi-weekly or even monthly payment. In a nutshell, you only need to pay a processing fee. No credit or down payment is required which makes it a more accessible option for those that find it hard to access loans with a poor credit score or a fluctuating income history. […]

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Merchant Cash Advance Funding

Merchants are always in need of funds to help them run their businesses. Thanks to First American Merchant who has been offering a helping hand to small and medium-sized businesses. We assist retailers with funding through merchant cash advances (MCA). Here is a quick guide to our MCA offers. What’s a MCA? A Merchant Cash Advance may also be referred to as the procurement of future sales. A financial firm purchases a given amount in future sales to allow the business owner some money for upfront expenses. The retailer then repays the amount (plus the prearranged fee) additively as he/she […]

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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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Quick Cash for Your Business ─ Merchant Cash Advance

Do you need working capital for your business and you don’t have time to wait for weeks to get approved? A merchant cash advance (MCA), also known as a business cash advance, can be the right solution to your problem. However, quick access to working capital isn’t the only advantage offered by a merchant cash advance. Merchant Cash Advances and Business Loans As you may already know, not all types of businesses can easily get approved for business funding from a traditional bank or other financial institution. There are a number of reasons for this. First, traditional banks are willing […]

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Small Business Loans with No Credit Checks Do Exist

Are you interested in a startup business loan? Do you know what’s your credit score? Or maybe you don’t have a credit history? What about small business startup loans with no credit? Credit Scores Many Americans aren’t even aware of their credit score. In fact, apart from your Social Security number, your credit score is one of the key numbers you need to know. Your credit score determines whether you can be eligible for loans and what interest rates you’ll be required to pay. Issued by Fair Isaac Co., FICO scores are the gold standard of credit scores. As of […]

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Credit History and Credit Scores | The Best Way to Build Credit

Good credit history can play a crucial role when trying to get a mortgage, loan, apartment lease, or credit card. Your credit score is key to determining how much interest you’ll pay. Good credit demonstrates you’ve been financially responsible in the past. So, the higher your score, the more chances you’ll have to get approved for a loan with favorable terms. Credit History and Credit Scores The credit scores of Americans may undergo fluctuations over time. Different scoring systems may show slightly different results. FICO scores, which is the most commonly used model, range between 300 to 850. You must […]

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Applying for Financing After Having Been In Operation for Over a Year

About 2/3 of business survive 2 years in business, half of all businesses will survive 5 years, and 1/3 will survive 10. According to a US Bank study, 82% of businesses fail because of cash flow problems. However, 75% business owners say that they’re confident in their own business. Even though you aren’t a starter and think your business is near to perfect, your business may still have room for improvement. Let’s find out what advantages businesses have when applying for financing after being operational for more than a year: You Know Your Financial Patterns New businesses have a fluctuating […]

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