According to recent data released by Experian nearly 1 in 3 consumers – or 30% of those included in the analysis – have a subprime score, but this population has shrunk by 12% since 2020. These individuals have an average of $4,592 in credit card debt, $19,106 in auto-debit, and 2.6 credit card accounts. And those with low scores between 300 and 600 are most likely to be denied access to lending. This struggle is often felt by those who are young, new, and on their own. However, due to the ups and downs felt across the globe over the […]

Data breaches are no more a surprise. The important thing is how you respond to them. The way you respond can go a long way in keeping your business away from major damages. What about a reliable and affordable bad credit merchant account? Who can get you one easily? This article will help you with all these. Data Breaches: What Numbers Show The 1st computer virus was called “The Creeper.” It was revealed in the early 1970s. Based on a 2016 report by FireEye, companies worldwide spent 146 days (on average) to detect a data breach. Did you know that […]

Bad credit can have affect your life in many ways. It can make it hard to rent an apartment, get the job you want and even prevent you from getting a cell phone contract. For the aspiring entrepreneur, poor credit can halt business plans altogether. Bad credit can not only lead to higher rates and more restrictive terms on approved loans, but also affect your ability to be approved at all. Fortunately, the creativity and flexibility of alternative providers have made it much easier for business owners with bad credit to secure the working capital they need. High-Risk Providers A […]

Closing down a business is a big decision. It’s critical to take the right steps involved in the process. The reasons may be associated with poor management, poor marketing, anemic sales productivity, poor cash flow, inadequate investment capital, imprudent cutbacks, poor supply and delivery chains, and bankruptcy caused by rapid expansion. If you’re closing because you lack the necessary working capital, consider applying to a reputable business funding provider like First American Merchant to get low-cost and reliable business loans to improve your situation. Firstamericanmerchant.com is also a respectable processor that offers exceptional payment processing services, including a bad credit […]

Having a bad credit score can be a nightmare, especially for the new entrepreneur. Your credit score is made up of five major components. Focusing on each of these components is key to establishing and maintaining a good credit history. These components will affect your FICO score (the score lenders will use to determine your credit risk): Payment history (35% of total credit score) Credit utilization (30% of total credit score) Length of credit history (15% of total credit score) New credit accounts (10% of total credit score) Mix of credit accounts (10% of total credit score) But what if […]

If you’ve decided to apply for financing, be aware there are generally 2 ways to check whether you’re eligible for it or not. The 1st one is the traditional “credit check.” In this case, a hard inquiry is put on your account, and the loan provider reviews your credit score and credit bureau reports to figure out whether you can qualify for business funding or not. The 2nd one is the so-called “no credit check,” when the lender takes into account other factors so to determine your eligibility. What is Credit Check? A typical credit check is also called a […]

Your credit report contains information on the majority of your credit accounts, payment history, account balances, credit history, credit inquiries, etc. It also provides additional personal information. Why is all of this information important? This information is all used when calculating your credit scores. Considering how many aspects of your life are affected by the state of your credit score, you can understand why it’s so important to monitor your credit report. You need to regularly set time aside to “clean up” your credit score. Otherwise, you’ll run to the bank in need of business (or personal) financing and be […]

Late payment is a problem that plagues the cash flow of many merchants and is one of the fastest ways to go out of business. Regardless of how successful or established, a major part of your job as a trader is to ensure that all transactions are completed on time. Of course, the billing policy you’ll employ will depend on your type of business. If you run a large-scale enterprise, for example, your clients will likely expect to be given at least a few weeks to pay their invoices. And although you’re often left with no choice, agreeing to their […]

It’s no stretch to say that the right business funding plays an immense role in making your small business a success. If you need to get approved for a great a business loan, often you’ll be required to provide a good credit score. A good credit score is based on certain important issues that you can find below. Keep Your Business and Personal Finances Apart After establishing a business line of credit, don’t dip into your personal finances to have your business subsidized. Keep them apart as this way you won’t be obliged to put your personal credit on the […]

Poor credit can hinder many things. From getting a home loan to getting a car loan, it can even impact your chances of getting a job. But, what if you are your own merchants? What issues will you have if you have poor credit? Well, in short, the answer is “many”. From dealing with manufacturers and office supply stores to finding a reputable and affordable business credit card, there will be a lot of issues. The most common – and most daunting – for many is trying to find business funding. You can find business funding with bad or poor […]