A good business loan application is a key to success in any business. It can help you get the funds you need to grow your company, expand and hire new employees, or even get things off the ground.  But there are plenty of reasons why you might have a hard time getting approved for a business loan — here are five of them: Reasons Your Bank Denied You a Loan 1. Your business is new If you’re new to the loan game, it’s going to be harder for you to get approved for a business loan than someone who has […]

It’s not uncommon to find yourself in a situation where you need money but don’t have the best credit.  Maybe you have an emergency expense or unexpected bill, and you don’t have the cash on hand to cover it. Or, perhaps you’re looking to consolidate some debts or make a large purchase, but your credit score won’t allow a good interest rate. Whatever the case, if you need a loan but have bad credit, you may wonder where to turn. Luckily, there are many bad credit loan options – you just need to know where to look.  Here are the […]

According to the National Restaurant Association, the restaurant industry sales accounted for $799 billion in 2021. This was down $65 billion from 2019. Have you faced financial challenges recently? Who can help you with reliable and affordable restaurant improvement loans?  Restaurant Improvement Loans As a restaurant owner, you might need financing to open a new restaurant, expand your location, purchase additional equipment or inventory, renovate your restaurant, or go through a slow season. Thanks to a reliable and affordable business funding solution, you can easily obtain the necessary funds.  Think of restaurant financing as funds sourced, borrowed, or loaned that […]

Having a better understanding of what loan options you have can help you increase your chances of getting access to the capital you need for your business. Small business loans from a reputable alternative online lender are one of the main options to consider.  Small Business Loans for Women When lenders approve you for a loan, they take into account various factors, such as credit history, financial profile, what you’re going to spend the money on, and overall business goals. Where can you get business funding for women entrepreneurs?  1. Alternative Online Lenders Did you know that the highest approval […]

Small business loans, ACH, payment processing, business bank accounts… There’s so much to understand as a small business owner. From making loan payments and choosing an ACH provider, these decisions can feel overwhelming. This is especially true if you’re a new business trying to get things set up correctly for sustainable growth.  Trying to sort out the details of ACH payments and small business loans can be confusing. If you’re currently considering these options, the following details will help you distinguish between the two and understand the ins and outs of each.  What is the Automated Clearing House (ACH)? The […]

So many businesses fail because they run out of enough finances. What if you applied for a business loan, but you got rejected? Below, you can find the main reasons for this so that you can start working on improving the situation.  Reasons Why Your Business Loan Was Rejected Non-bank lenders have approved more applicants in recent months than banks, according to the latest Biz2Credit Small Business Lending Index. Small business owners have more chances to get approved for a loan from an alternative lender than from a bank.  Reputable alternative online lenders like FirstAmericanMerchant.com specialize in the high-risk field […]

Long wait times, complicated contracts and services, and support that misses the mark; this is what many small business owners deal with when trying to secure financing. Banks can keep you waiting weeks or months to tell you that you’ve been denied funds in the end. The very next question is, where do I go from here? If you’re looking for funding, you’ll be glad to hear there are other ways to secure the funding you need. In fact, these alternatives often turn out to be better for many business owners. The following information should shed some light on why […]

If you’ve recently started diving into the world of alternative lending, you likely have a lot of questions. What is an alternative lender, and why do so many entrepreneurs turn to them?  Alternative lenders provide great business funding options for those who struggle to secure financing elsewhere or find themselves in a unique situation. With so many alternative lenders offering better products and greater flexibility, it’s no surprise more and more business owners are choosing these lenders. All in all, they have completely transformed the way business owners access financing and the expectations surrounding the whole process. Here are some […]

Receiving the daunting feedback to tell you a business loan application has been denied is both scary and frustrating. Moreso, if you require the money to continue your business operations or start your business venture. Fortunately, some common factors may cause a merchant loan to be declined. Putting these factors into consideration strengthens your future applications and makes it easy for you to receive the loan amount you need. Poor Credit Score A credit score shows the lender your trustworthiness and specifies the risk level presented by your borrowing. Lenders will evaluate both your business and personal credit score when […]

Getting a merchant loan is one thing, but getting the loan denied is devastating. Several factors keep you from getting a business loan, and bad credit is the major problem, though they are preventable.  Ways of boosting your credit score and enhancing your approval chances  If your credit history reveals that you cannot repay your debts, you will have difficulty obtaining a business loan. If you have recently filed for bankruptcy, you may find it hard to secure a company loan because you have no history of repaying bills. Your creditors will hesitate to offer you money when you file […]