Bad Credit Blog Posts

By The High Risk Guys

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Bad Credit Merchant Account Holders | 4 Steps to Good Business Credit

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Credit scores are an important part to a business’ ability to get loans, find payment processing and be successful. But having bad credit doesn’t have to be crippling if business owners work hard to build it back up. The following are a few tried and true ways that entrepreneurs can bring up their credit scores and build a foundation for success in the future. Keep Information Current with Credit Bureaus. Pick three qualified credit bureaus to monitor your business credit. Unlink personal credit scores, business credit scores are far less streamlined. There are a few bureaus you can choose from […]

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Alternative Providers View Bad Credit Borrowers as a Good Investment

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Unfortunately, that three-digit number – your credit score – really does determine your business’ fate. This fact is also true for small businesses. The real question for lending providers is whether or not a bad credit business borrower can be a good investment for them. So far, the answer from traditional lending sources continues to be a firm “no”. If your score falls under 650, it is very unlikely that you will secure a loan. Whether banks want to admit it or not, they heavily rely on your personal credit score. In fact, if you try to ask any big […]

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5 Ways to Get Funding with Bad Credit

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Credit scores can now determine if a new business is eligible for even small loans. Many new companies don’t have the longevity that traditional loan institutions want to see in order to lend them money. But there are still some popular alternatives to traditional bank loans. According to a new study, almost 75% of new merchants use less restrictive lenders to acquire the funds necessary to support their businesses. Social Lenders. For working capital, many entrepreneurs have turned to social lending sites. This can be a much more efficient, and slightly informal way to generate capital, as business owners speak […]

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PAYMENT OPTIONS FOR BUSINESSES WITH BAD CREDIT

Man reading bad news on the computer screen

“Pearls don’t lie on the seashore. If you want one, you must dive for it.” – Chinese Proverb Credit scores between 300 and 629 are characterized as bad credit. Merchants looking for small loans with lower rates may find it challenging to obtain funding form traditional lenders. Even if you have bad credit, not everything is lost. Bad Credit Risks Businesses with bad credit may face major obstacles when trying to earn profits as credit plays a huge role in measuring a business’s reliability. Bad credit can make merchants deal with unreliable payment processors or international/offshore companies that charge higher […]

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Bad Credit Businesses Welcome at HRG

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The last recession put many small businesses out of work and left even more with bad credit.  Now businesses that need loans to make vital repairs or to keep their doors open, have a hard time acquiring them. If you have bad credit or have filed for bankruptcy, choose the High Risk Guys to meet all your merchant service needs. HRG is a payment processor that can help your business no matter the credit history. A payment processor provides a payment gateway for transactions requests to go to. The processor then sends the authorization from a debit or credit card […]

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Bad Credit Won’t Stop HRG

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The credit scores of many small businesses took a big hit during the recession. Bad credit is usually defined as a credit score between 300 and 629. This is a major dilemma for many entrepreneurs searching for small loans with reasonable rates from traditional lenders. If you have bad credit, there are still a few sources available that will provide loans to your business. Online Lenders Online lenders like HRG are designed to give small loans to businesses with bad credit scores. But not all online lenders approve every business. Some are highly discriminate, but HRG has a 99% merchant […]

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Options Every Failing Small Business Needs to Consider

Young business man under stress with headache and migraine

There is so much information available to those who want to get their small business idea off the ground. But what about when that small business venture fails? In the event that you realize your business is not going to survive, the next course of action must be decided. Contrary to popular belief, not every option ends with closing the doors of your business. Keep in mind that not every option will be financially possible or legally available. Halt all business operations This option is obviously not for everyone, unless the capital worth of your business is in the black. […]

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Partnerships are Important, But One Can Tank a Prospective Business

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Businesses come in many shapes and sizes. While some are opened via a GoFundMe campaign, others are operated by a bank loan. These days, more and more businesses are created and operated by two or more people in a partnership. While this is not a new idea, there are issues that may arise today that didn’t twenty, thirty, or even ten, years ago that can ruin a business before it gets off the ground. Today, the majority of businesses in the US and Canada operate with a merchant account. This allows businesses to process credit and debit payments, usually without […]

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No Capital, Bad Credit, No Problem

an employee stressed out and still working in his office with a little clock behind him showing a time to get off

Do you have a great idea, but don’t have the capital or good credit to get a traditional loan? Most entrepreneurs assume that their idea will never be successful unless they have major funding. Business owners should consider that many businesses that do acquire millions of dollars don’t make it, because they don’t have a sound business plan. Even if your business does not qualify for a large loan, there are a variety of ways to get your ideas off the ground that won’t break the bank.   Know Your Business. If your business can’t secure a lot of funding, […]

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The Future is Bright for Small Businesses

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Things are looking up for U.S. small business. Small business owners are making plans to hire and boost employee wages and salaries for the first time since the last recession. This is good news for owners, potential hires, and merchant payment processors. There are 28 million small businesses in the United States, all of which require comprehensive payment processing services. Here is what small business owners reported in the Fall 2015 PNC Economic. 87 percent of entrepreneurs were optimistic about their business prospects. In fact, about 76 percent of owners were optimistic about the health of their local economies. And […]

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