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Business funding with bad credit Blog Posts

By First American Merchant

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Get a Business Loan with “No Credit Check”

27% of businesses surveyed by the National Small Business Association (NSBA) reported they weren’t able to receive the necessary funding for their business. According to the NSBA Small Business Access to Capital Study, 20% of small business loans are denied because of business credit. Based on a 2015 survey in the field, of small business owners surveyed, 45% weren’t aware they have a business credit score. 72% have no idea where they could find information on their business credit score. 82% have no idea how to interpret their score. “Credit Check” and “No Credit Needed” If you’ve decided to apply […]

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Online Lending Industry Regulation

Top federal bank regulator Thomas Curry, US Comptroller of the Currency, last year told marketplace lenders in Washington D.C. to expect a tougher regulatory framework for the industry. The Office of the Comptroller of the Currency would be collaborating with other regulators. Tougher Regulatory Guidelines Tougher guidelines are in line with those that govern the rest of US banking. Calls for such guidelines followed an explosive expansion in the online lending industry and a series of high-profile missteps. The OCC reports, in 2015, so-called marketplace lenders generated about US$29bn of consumer loans, which was a six-fold increase from 2013. Some […]

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5 Tips to Help You Pay Back Your Loan During Slow Seasons

According to a US Bank study, 82% of businesses that fail appear in such situation because of cash flow problems. Cash flow problems aren’t something new for seasonal businesses since they have slow seasons with less money. 27% of businesses surveyed by the NSBA (National Small Business Association) report they weren’t able to receive the necessary funding they needed. According to those 1-in-4 businesses, the lack of funding prevented them from growing their business. This refers especially to women- and minority-owned businesses. So, how are you going to repay your business loan if you’re in a slow period? In such […]

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4 Key Differences Between Working Capital and Fixed Capital

Fixed and working capital differ when it comes to their usage in a business. One serves the long-term requirements of the business, while the other serves short-term requirements. To efficiently manage your business’ cash flow and overall financial health, it’s critical that you understand the difference between the two. Consider the following four, key differences between fixed and working capital. Meaning Fixed capital refers to the investment made in the long-term assets of a business. This capital is part of the business’ total capital that is not used for production. Rather, it is kept in the business for more than […]

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Can’t Get a Loan from a Bank? Here are Business Funding Options To Consider

Years ago, it was often difficult to get approved for a traditional bank or a credit union loan. Business owners had to borrow from their family, friends, or against receivables. Today, thanks to alternative lenders and institutional investors, entrepreneurs have better chances to get business funding even with bad credit for their companies. Funding Options for Small Businesses Alternative Lenders Alternative lending came into existence after 2008 financial crisis when small businesses saw it was difficult for them to get approved for a traditional bank loan. Online lenders built web-based lending platforms that made it easier and faster to obtain […]

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We say YES to business funding: Securing a Business Loan

Business funding options are plenty, but for some merchants it can be tough to secure even the most lenient loans. New regulations are leaving some out in the cold when it comes to finding and securing a business loan, and this can leave merchants and their businesses vulnerable. This vulnerability comes from payday loans and scams that claim to offer you funding, when all they are really doing is ripping you off. Before you apply for an unknown – and possibly a bad deal – loan, consult your merchant account provider. Most merchants have a merchant account provider to deal […]

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Get Business Funding with Bad Credit

If you are a small business owner with bad credit, you may have a difficult time acquiring a loan from traditional banks. Lenders are just not willing to take a risk on companies with bad credit scores, even if business owners have experience and run profitable organizations. The following are a few ways that business owners with not so stellar credit can get the critical capital they need to get started. Know What Is on Your Business’ Credit Report There are business and personal credit scores. Although they are separate entities, lenders may look at both before deciding to offer […]

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How Hard Does Bad Credit Bite?

Today, we are surrounded by a financial industry that has opened for us innumerable doors to different financial instruments, all of which have perks of their own. In a world where the lenders are encouraging the borrowers to get loans, instead of the situation being the other way round, we have reached a point where people are carelessly taking out loans they know they cannot service and in the process, putting themselves into serious financial trouble. While these loans may offer glittery effects in the short-term, your struggle to pay them back or meet interest payments in time is something […]

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