bad credit merchant account Blog Posts

By The High Risk Guys

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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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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

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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

Business Consulting

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

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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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Bad Credit Merchant Account | How to Start the Long Road to Recovery

Long Road

Despite headlines about the improving economy and record-low mortgage rates at the beginning of 2015, the majority of consumers are not benefiting from them. According to a report from the Corporation for Enterprise Development (CFED), 56% of consumers have subprime credit scores. Bad credit not only affects a consumer’s ability to be approved for loans, borrow money or receive good rates, but it also affects those who want to start their business. According to credit.com, “One in four households earning between $56,113 and $91,356 have less than three months of expenses saved. It’s possible some of this is a result […]

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Consumers Should Steer Clear of Deceiving Credit Card Intro Offers

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Consumers should beware of credit card introductory offers that banks are using to lure them in. These credit card intro offers can make annual costs jump as much as $676 once the introductory period is over. Don’t be deceived into thinking that obtaining a low-interest card from a big bank is your only option – or the best one. Mozo, a finance comparison website, investigated 80 different credit cards along with their initial fee discounts and promotional periods. This investigation was done leading up to a Senate Inquiry into credit card interest rates. Surprisingly, it was discovered that the highest […]

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6 Ways to Get Your Small Business Plans off the Ground, Regardless of Bad Credit

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So the time has finally arrived. All of your ducks are in a row. Every “i” has been dotted and every “t” has been crossed. You have not reached the decision to launch a small business lightly. A lot of preparation and thought has gone into your business plan. However, you have run into a very big obstacle that threatens to halt all of your plans. You have yet to secure the funding you need, and the banks are not interested in hearing your pitch. Perhaps it is because your credit score has been previously tarnished due to immaturity or […]

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