Get a Merchant Account Even with Bad Credit

Dec 15, 2016

Do you have bad credit? Don’t let bad credit wreck your dreams of having a successful business. Companies with bad credit often get denied for loans from banks and traditional lenders. EMB is a proven online lender and payment processor that deals with high risk companies and bad credit merchants. Still there are ways for merchants with bad credit to obtain loans, other than crawling to banks.  The following are a few ways that merchants can acquire funds.

Social Lending: Many merchants turn to social media for assistance in fund generation. Social sites allow entrepreneurs to go right to their target audiences for money and resources. They simply create a pitch or business plan/proposal and send it to the masses. This increases their chances of finding investors.

Micro Lending: Micro lending may be an option for some businesses. Micro lenders generally give out small to medium-sized loans from $3,000 to $35,000. The best thing about micro lenders is that they don’t have the same crippling restrictions that banks do, plus they have much faster approval times.

Use Equipment Lenders. Young businesses can raise capital through equipment lending. Equipment lenders don’t pay attention to credit scores and use office equipment as collateral.

Merchant Cash Advances

Merchant cash advances are also a good choice for merchants with bad credit. MCAs are repaid by using a determined percentage of the business’ daily credit card receipt volume. So on slow days, merchants can pay less to providers than when business is doing well.

Find a Co-signer

Another popular way to attain funding is to find a partner with better credit that is willing to co-sign a loan. But make sure your partner knows the risks associated with signing for another person. If the owner is late on payments or defaults on the loan, the co-signer’s credit will reflect these missteps. specializes in working with bad credit merchant accounts. Get quick, simple, and straightforward funds and services from online payment processors. EMB is the nation’s leading online payment processor and small business lender with a user-friendly, streamlined application. Contact us today to start your bad credit merchant account today.

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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