Lenders Looking For Good Risk In Your Bad Credit Score

Oct 21, 2013

America is on the mend, even with the recent government shutdown, we will struggle our way back to a healthy and stable infrastructure. Our knowledge of the economic crash is fresh on our minds. Those that lost their homes are healing and ready to be homeowners again. Businesses that closed have people with dreams that never went away, and are wanting to start over again.

Credit score

Banks and lending institutions retreated after the crash, and money to get things done became almost impossible.  If your credit score is under 700, opportunities for borrowing will not be impossible, but difficult. If you have spent the last three to four years raising your credit score by over 100 points, then they will look forward to working with you.

Bad credit merchant account

If you have had bad credit in the past, it’s time to get that further in the past, so you can move forward with your business. To get a merchant account with bad credit, you just need to begin straightening your credit out.

• Begin by finding out what is on your credit report.

• Start calling those to whom you owe money. If you can pay them off, do so. Make arrangements for payments that you can afford. That will begin a positive report on payments to those accounts.

• Follow through with them, and ask that they begin reporting a positive payment method as soon as possible.

• Then begin negotiations with your merchant servicer and work out a deal for your account.

Your moving on

You may be put on a trial period for a little longer than most accounts. That’s ok, for when it’s all over; you will be stronger for it. Be prepared for a portion of your credit card purchases to be set aside while you are on your trial period. In the end, your money will be returned to you in full. It will sit in a reserve account, until such time as it gets placed in an account, designated by you.

It may be some extra work

With that little extra work, you can build your business again. It won’t be easy for a while, and with those extra baby steps and healing of your credit, you can raise your head up high again. A new business is just around the corner.

Your account

A bad credit merchant account won’t stay in that category for long. You can negotiate and be diligent about taking care of what you have. It was horrible when the economy crashed. A lot of people and businesses suffered, but we are strong and brave! Our country will survive and so will you. Take the steps to recovery and don’t give in to a few failures. You will have places to look and frustrations to deal with.

Hold tight to your dream and don’t let it go. Know in your heart it is worth all the worry and struggle. It’s yours to have again. Keep going and good luck.


Let us help you get a high risk 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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