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high risk business Blog Posts

By First American Merchant

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My Merchant Account Was Declined Because I’m a High Risk Business

So, you have no merchant account. Maybe you didn’t start out with one, or maybe you were dropped from your old merchant account provider. There are many reasons why you do not have a current merchant account, but the fact is that you need one. Regardless of your business type, you need the ability to process credit cards. There are many options available for those who have a mainstream business. From bank programs to a plethora of merchant account providers, these merchants typically do not have a problem finding a merchant account. But, what if you are in the “high […]

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Alternative Funding Ideas for High Risk Merchants

Small business owners face a variety of hurtles to attaining small loans or cash advances. If your business is in a high risk industry, you will encounter higher interest rates than your lower risk peers, loan refusals and other obstacles. Luckily, there are alternative funding sources that make life a lot easier for entrepreneurs who are not afraid to work in risky industries. Small Business Loans   It is now a lot easier for small businesses to get a loan from the Small Business Administration (SBA). The SBA is guaranteeing more loans, but applicants must still reach specific qualifications to […]

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What Your Business Can Learn from Leicester City’s Premier League Win

According to the vice-chairman of Leicester City Aiyawatt Srivaddhanaprabha, when he and his father, chairman Vichai Srivaddhanaprabha, bought Leicester City in 2010 for $57 million, they never imagined that Leicester City would one day be Premier League champions. In order to accomplish this win for Leicester City, many different strategies and elements were in play. Some of which a business might consider valuable and want to emulate. Avoid making changes, just because you can Spending less time on things that don’t need to be “fixed” is a lesson every business owner should learn. Just because something can be changed doesn’t […]

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High Risk Lending Solutions If You’ve Been Rejected Elsewhere

A high risk merchant faces many challenges. From opening, to keeping customers, and even finding funding. High risk lenders are few and far between, and even when you find one, they may not understand your industry. With FAM, you will not have these issues. FAM employees specialize in most high risk industries to help merchants better understand their risks. For those in need of borrowing funds, FAM also provides these services. For high risk merchants in need of funds, there are programs available to you. For those with a merchant account, there is a merchant cash advance. A merchant cash […]

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Lending Options for Risky Merchants

Most merchants will need some type of financial help at one time or another. While most of us do not have wealthy relatives, we do possess the ability to apply for funding. From business loans to crowdfunding to second mortgages, the options seem endless in ones quest for business funding. However, all of the aforementioned options usually fail, thanks to the risky business of, well, owning a business. Money is a risky thing. From earning it to borrowing it, there are many paths that merchants can go down. Most fail when it comes to borrowing money. Traditional loans usually come […]

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Business Funding with a High Risk Business: Is Possible!

High risk businesses struggle with almost everything. From getting off the ground, to growing its clientele, to getting a business loan, to paying back that loan. Business loans are the go-to for most merchants, and high risk merchants search them out, as well. However, the bad usually outweighs the good with a loan. While some refuse to look for anything other than a business loan, many high risk merchant account processors offer up alternatives for their clients. A high risk cash advance is something that all high risk merchants in need of funding should search out. While not all high […]

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The Riskiest Businesses & How to Get Funding

Not all businesses are created equally, and often the stigmata that comes with some businesses has nothing to do with the business owner. There are “high risk” businesses that function in our everyday lives, and while lucrative, it can be hard for merchants to find a source of funding for their new businesses. For these businesses, they is a virtual 100% chance that a bank will turn them down for a loan, and often times the merchants do not have the resources to fund it themselves. These high risk businesses incorporate things that we do, or use, often. One of […]

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