The Facts about Small Business Funding

Sep 25, 2015

Do you have a great idea for a small business? The internet has a million articles about how to fund and manage small businesses, but it can be difficult to separate truth from fiction. Some people may lead you to believe opening a business that is considered high risk is next to impossible. But the truth is now there are more options than ever that help entrepreneurs achieve their dreams. Here are a few myths about small business funding that need to be busted.

1.      Only Good Credit Counts. This is a myth based on the old traditional bank model. Previously, established businesses and those with high credit scores really had a chance at obtaining loans. Today the alternative lending sector has become a legitimate answer to this issue. Now high risk businesses, individuals with bad credit, or little experience can still find sources of funding.

2.      Approval Takes a Long Time. In the past if you were searching for a traditional loan from a financial institution, it could take weeks or even months. Now you can complete online lending forms in less than an hour.

3.      Approval Based Solely on Numbers. Even though many loans are completed online, lenders don’t just throw applications into some heartless algorithm. Modern day lenders still consider intangible elements about loan applicants when considering applications.

4.      Online Lenders are Crooks. Consumers should always be careful when choosing a lender, there are unscrupulous forces out there. But many online lenders are established and credible. When selecting a lender, be sure to research, research, research. is the number one online lender for small businesses. To get a loan approved, businesses need only make $2,500 per month in revenue. The loan process is simple and hassle-free and merchants will be guided through each step by EMB experts who are available 24 hours to assist clients anywhere, anytime. EMB is the online lender that can give you the funds needed to launch your business. Our merchants specialize in providing business funding for every type of businesses regardless of credit history or even business experience.

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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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