How to find a Merchant Account for your Business with Bad Credit

Jun 13, 2014

It may seem impossible to open a business if you, the owner, have bad credit. However, it is entirely possible. It may not be easy, but it is possible, and by finding the right bad credit merchant account, you are on the track to financial success.

While banks and traditional merchant account processors will more than likely offer you sky-high processing rates (or turn you down altogether), if you choose a high-risk merchant account processor, you will obtain the same services without the added fees. A great option for any upcoming business owner with bad credit is or EMB. We at EMB specialize in high-risk merchants, which can include “high risks” areas such as adult entertainment services or gambling, and owners with no credit, bad credit, or bankruptcies. Just because your credit is bad does not mean that you shouldn’t live out the American Dream, as others have. We can help you regardless of your FICO score, previous processing history, or even bankruptcies and tax liens.

In order to get your head above water, it is important to keep kicking and clawing your way up. With a merchant account or business cash advance from EMB, you can build your personal and business credit. Having bad credit can be a nightmare, we understand that, and we want to do all we can to make the application processing simple and easy. If you have bad credit, banks and traditional credit processors will shy away from you based on the past crippling your opportunity for the future, not at EMB. We can approve your merchant account in as little as 24 hours. Our specialized merchant accounts for those with bad credit can help get your business revenue stream flowing again. We can even help merchants on the TMF list, a “black list” for Visa and MasterCard accepting merchants.

Choosing a merchant account processor when you have bad credit can seem like an uphill struggle. However, EMB is here to help. The straightforward and simple rules for our accounts ensure that your business can continue operation on the long road to recovery. Apply today for a bad credit merchant account with and cut through all the red tape involved without a perfect credit history.

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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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