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business loans Blog Posts

By First American Merchant

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

Building Credit With No Credit

If you’ve decided to apply for financing, be aware there are generally 2 ways to check whether you’re eligible for it or not. The 1st one is the traditional “credit check.” In this case, a hard inquiry is put on your account, and the loan provider reviews your credit score and credit bureau reports to figure out whether you can qualify for business funding or not. The 2nd one is the so-called “no credit check,” when the lender takes into account other factors so to determine your eligibility. What is Credit Check? A typical credit check is also called a […]

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5 Truths about Working Capital and Small Businesses You Need to Know

Working capital is the lifeblood of every business, big or small. However, it isn’t always easy to know where to find it – or is it? Consider the following five truths about working capital. You might be pleasantly surprised to discover how simple it can be to find and secure working capital for your small business. Banks are not your only – or even best – solution Banks are rarely an effective solution for small businesses in need of financing. In reality, banks are routinely reducing the lines of credit they are willing to extend to small businesses. Even if […]

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Need Small Business Financing? Apply Online in Minutes

It never really seems to be a question of if your business could use extra funds; it’s usually more about how it could benefit from extra funds, when your business needs it the most and where you can get it. There are many different ways to externally fund your business, but not all of them will suit your specific needs and situation. Consider the two ways you can externally fund your business: debt and equity. If you choose to use debt, you will retain ownership of your company with an obligation to repay the investor. If you choose equity, you […]

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Working Capital Solutions: 4 Financing Options for Small Businesses

The need for extra working capital often hits you when you least expect it. Unfortunately, securing funds is not always easy for the small business. Traditional lenders involve long wait times for funding and seemingly endless documentation requirements. If your business type or industry is categorized as “high-risk”, the bank might refuse to work with you before you even get started. Thankfully, there are more alternative financing options than ever before. The option you choose should cater to your specific needs; such as, your business’ unique situation, how much capital you need and how quickly you need it. If you […]

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The 3 Keys to Working Capital Optimization

Working capital management is often misunderstood. It is not a task that takes place once, or even once in a while. It needs to be a continuous process that is closely managed to maintain the financial health of your company. What is working capital? Your business’ working capital is the funds it has immediately available to cover day-to-day business expenses. Assessing the state of working capital can be done by pulling out your business’ balance sheet. Working capital is also used by investors to assess your business’ financial health and liquidity (how easily assets can be sold to generate cash […]

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Bank Isn’t Your Friend? Merchants are Looking for Alternative Business Loans

Forget applying to banks to get a loan for your business. Most of them stopped being in the “give a loan to a small company who has no collateral” business in 2007. This does not, however, mean that you are out of options to fund the growth of your company. Below are some of the anti-bank ways to finance your new business. Retirement accounts  Borrowing money from your IRA or 401(k) can be tempting. First consider a 60 day interest free loan from it. There are no fees if it is paid back in this time frame. Remember: This is […]

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How a Merchant Cash Advance Can Boost Your Business Esteem

So, you are a small business owner. You have committed your whole life in propelling your business forward. But as you might have noticed that it has become increasingly difficult to attain capital to grow your business in this day and age. Banks are becoming tyrants instead of actually helping businesses, they always seem to have a problem with everything. They will make you sign a dozen documents, put many restrictions on the use of the money you will get from them, and even after you are done with all the formalities, you still have to wait a while before […]

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Is It Difficult to Get an ACH Loan?

One of the more innovative products available in the alternative lending marketplace is an ACH loan (sometimes called an ACH advance or cash flow loan). ACH loans are a broad category of business loans that are specific in the way in which they are paid back. When you apply for an ACH loan, a prospective lender (like First American Merchant) will review your business’s checking account statements, typically going back several months. Why would they do this? Simply to get a sense of your average daily closing balance, which helps them determine how much of a loan to offer you, […]

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How to Build Good Business Credit with Bad Personal Credit

As of 2016, there were 28.8 million small businesses, which represented 99.7% of US businesses, according to the SBA. As of 2017, big banks only approved nearly 24.1% of small business loans. Smaller banks approved around 48.9%. Alternative lenders approved 58.2% of loan requests, according to Biz2Credit To get approved for any type of small business loan, lenders will want to see your ability to pay back the funding. So, you’ll be required to provide some information, including credit history. If you have bad credit, you’re likely to get a refusal from the majority of lenders. The thing is that […]

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Getting Certified as a Minority Owned Business

Are you a minority business owner? If yes, consider becoming certified as a minority owned business. Government agencies and corporations are willing to conduct business and buy from minority owned companies, so being certified will make your business more appealing. The reason why corporations are willing to do business with minority owned businesses is that they realize that US minorities have great purchasing power. It’s no surprise that minority business owners may have a difficult time obtaining access to working capital to grow and expand their business. Fortunately, firstamericanmerchant.com, a reputable business loan provider and high risk payment processor, offers […]

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