How to Turn Your Small Business into a Large Success Story

Jan 19, 2016

Small businesses are on every city square in America. Sometimes people are happy with their small business. Other times merchants wish for a bigger standing in their industry. For this, the best option for small businesses is to look for outside funding. The issue does not come with the search, but rather obtaining outside funding. Being turned down for funding can cause a merchant to give up his or her dream, but there are options available to fund your business – without asking your social media friends.

Many are turning to social media to fund their business ventures, but this is usually not a great option. These options often entitle donors to a certain product or incentive, which can hurt a struggling company. There is also an uncertain aspect to this type of fundraising, which c further complicate matters. As tough as it may be, you need to look to an outside company to provide your business funding. The first choice is often a bank loan, but this is also not a great idea for most. With a bank loan, payments are due almost immediately, regardless of how your business is doing. Also, if your business goes under, you are still responsible for the repayment of the remainder of the loan.

The best choice for small businesses – high risk or not – is to obtain business funding from a reliable source, like EMB. Business funding isn’t necessarily a loan, as demonstrated by many payment processors. With these funding programs, you are given an advance on your business, based upon your past six months’ sales. Payments are not taken in large monthly sums, but instead are taken from a certain percentage of your daily sales. This percentage is taken from your merchant account, allowing you to breathe easy in terms of not forgetting to mail in a loan payment.

Funding your business dreams is tough, but it is possible with the right funding choice. Be sure to do your research, because the first thing that comes along may not be the best choice for you and your business.

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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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