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bad credit business loan Blog Posts

By First American Merchant

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Is Bad Credit Stopping You from Getting Bad Credit Business Loan?

If you own a small business, you know how difficult it is to acquire a loan. Don’t let bad credit or lack of business experience keep you from the loan money necessary to make your business grow. There are a variety of alternative ways to acquire loans that don’t require extensive paperwork, long-term contracts, or high rates. The following are less restrictive and more efficient ways to get a small business loan. Bank deposits – If your business makes regular bank deposits, it can acquire a revenue-based loan. Generally, a business can get a business loan that is about 10% […]

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4 Steps to Better Your Credit and Get a Bad Credit Business Loan

Having a decent credit score is crucial to helping you achieve your goals. However, over half of adult Americans don’t know their credit score. When an individual has bad credit, it not only affects their ability to get a personal and business loan, it can also disqualify them from certain types of jobs. Don’t let a bad credit score stop you from achieving your financial and business goals. While there is no overnight fix to less than stellar credit, there are a few tips to help boost your score. Find a Fix Errors On Your Report: There are a few major […]

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“When everything seems to be going against you, remember that the airplane takes off against the wind, not with it.” – Henry Ford Businesses with bad credit may face obstacles in their way. Take the right steps to survive the competition and overcome the challenges. Small Business News ObamaCare, or the Patient Protection and Affordable Care Act (PPACA), commonly called the Affordable Care Act (ACA), has recently introduced new regulations for small businesses in the United States. If you employ more than 50 people, you must, by law, provide them healthcare or you must pay a fine. Banks have pulled […]

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Turned Down For What? Why Your Small Business Loan Application Was Rejected

Rejection hurts, regardless of what it encompasses. For small business owners, rejection can mean disaster if the rejection happens to revolve around a loan application. While small business loans are available, not all small businesses are eligible for small business loans. This can leave merchants scrambling to find funding. While some scramble to find funding in all types of places (parents, rich uncles, title pawn, etc.), the first thing you should do is investigate why your loan application was denied. Small business loan applications are denied for many reasons. One of the reasons could be that your business is new. […]

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What You Must Know About Small Business Financing

If your perception of the small business financing industry is that because it says ‘small business’ it is not worth your time, think again. The amount of newly formed small businesses is on the rise – thanks to globalization and technological advancements. These new formed, aspiring businesses have borrowed a huge amount of money last year, with the figure touching the $1 billion mark. Not that small after all, no? However, despite the apparent growth of this industry and the demand for what it offers, there still exists some degree of doubt as to the nature of this industry. If […]

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Ways to Get Money Even with Bad Credit

So you have a brilliant idea and a fantastic business plan. But the banks won’t even listen to what you have to say because of a smudge on your credit. Luckily, major loans from financial institutions aren’t the only solutions for entrepreneurs with low or bad credit. In fact, they are not even the first solution of most new businesses now. A recent study shows that only 25 percent of new businesses actually seek out credit card and bank financing. Now there are faster, less restrictive methods to getting the startup money that you need to get your business off […]

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Bad Credit Business Loan from First American Merchant

Internet-based businesses have taken the lead in today’s business environment. New market players are filing the platform. Other than the competition that comes along with this increased number of players in the 21st century, there is the problem of bottom-line. The mainstream brick-and-mortar retails, startups, electronic merchants and even established businesses that are seeking to grow through the internet are facing difficulties securing lends from banks and other traditional lenders. It is much worse for those companies that have experienced some bankruptcy and are carrying a low credit score. Creditors are less willing to lend money to such businesses out […]

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Banks Are Not the Only Source for Working Capital for Small Businesses

Many small business owners believe that the only way they can raise capital to get them through a cash flow problem or to invest in new equipment is to apply for a small business loan at their local banking center. For the owner who needs fund immediately this is not the answer at all, especially if the merchant has less than perfect credit and has not been in business at least two years. Thankfully, there are those who will grant bad credit business loans. It is very difficult and very time consuming to get a small loan from your bank. […]

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“Bad Credit” and its Effects on Business Lending

The financial crisis of 2008 left many problems in its wake, especially for small businesses. Small businesses found it difficult to find any lending since many of the credit markets froze. As a result, banks became reluctant to lend to any business that was not considered the best credit risk. The recession also led to a significant fall in sales. This led to businesses having difficulty in receiving loans because they did not qualify. In addition, the collateral assets that so many of these small businesses owned lost their value during the recession – these are the assets that they […]

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