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high risk business loans Blog Posts

By First American Merchant

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How Small Businesses Owners Can Restore Their Companies after a Hurricane

My commiserations to all merchants who commit themselves to establishing great companies only to have them destroyed by natural disasters like the most recent Harvey and Irma Hurricanes.  While one may argue that business owners should prepare earlier for such phenomena, most startups lack the capital to invest on disaster recovery and continuity strategies. To provide such victims with a stepping stone to revival, here’s a useful list of benefits available together with links to get your on the provider’s websites and make the most out of them as fast as possible. Low Interest Loans:  SBA and USDA both provide […]

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Financing Options For Your Small Business

Working capital loans are good financing options for small businesses. They can be used to purchase inventory, cover payroll, expand marketing and cater for daily operations. Here, we take you through some of the best working capital loans, how much they cost and the terms and requirement of each.  Short-Term Working Capital Loans Most institutions that offer short-term working capital are non-bank financial companies that give loans to the tune of $500,000 with a 3 year or lesser term. Short-term loans are a perfect fit for non-prime borrowers and merchants searching for working capital loans they can repay in a […]

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What’s the Cost of Opening a Marijuana Dispensary?

A surprisingly large number of weed enthusiast’s dream of starting up a medical marijuana dispensary. But turning any business plans into reality calls for a thorough understanding of the costs involved in the process of application and establishment.  Here are the procedures potheads who are looking to own a cannabis dispensary in the United States should follow. What is the Startup Fee? For a cannabis dispensary, there’s a rigorous application process intended to distinguish serious applicants from part-timers in the business.  For that reason, you must meet a number of qualifications before you begin enjoying the fun part of the […]

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Loans Vs Cash Advances Vs Factoring

Are you looking for a financial product for your small business? Make sure to choose the right financing option so to get the best for your business needs. With a carefully chosen financial product, you’ll be able to make your situation better and take your business to new heights. Let’s see how small business financing options differ from each other so that you can make the right decision. Small Business Loans Small business loans report to the credit bureaus about the credit of your business They require a good FICO score You can be required to use all your company […]

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Low Risk vs. High-Risk Business Funding

How to get funding is often at the top of any entrepreneur’s list of challenges. From getting a business off the ground to attracting customers to hiring staff and expanding, an enterprise is almost always in need of capital. Thankfully, the last few years have seen a tremendous increase in the number of financing options for both new and existing businesses. Today, the bank isn’t the only choice of funding at a merchant’s disposal. That said, not all business owners find it easy to acquire funding. Small businesses, in particular, are known to suffer rejections by lending institutions, while other […]

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High-Risk Business Loans Provide Solution to Bad Credit History

It’s no small task to turn your business idea into a reality. If you’re struggling with a less than stellar credit history (or no credit history), your business venture can come to a screeching halt before it even has a chance to get off the ground. The same is true for the established business. Traditional lenders simply won’t work with you. A bank categorizes a business with bad credit as being “high risk”, making it incredibly difficult for you to secure a traditional bank loan. If you find yourself in this position, it’s time to turn to an alternative lender […]

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Alternatives to High Risk Business Loans for the Small Business Owner

Some industries are considered to be riskier than others. For these businesses, funding options becoming seriously limited. In an effort to secure the capital they require to operate smoothly and cover expenses, many turn to high risk business loans. The problem with trying to secure a small business loan with a bank is that traditional lenders are unwilling to work with risky industries or those struggling with a bad credit history. Even if they do offer specialized business loans, you can expect to experience long wait times for approval, hefty collateral requirements and extensive documentation requests. As a result, startups […]

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Banks Are Getting Tougher on Small Business Loans

So, we know that looking to a bank to obtain any type of business loan is risky business. Collateral issues, co-signer issues, and sky-high interest makes it one of the worst things a merchant can do when he or she is in need of funding. Studies are showing that the ability to get a bank loan is getting even tougher (as if it wasn’t before), and while some may be annoyed with this, it may just be a blessing in disguise for merchants big and small. Those looking for high risk business loans are really feeling the pinch. While banks […]

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5 Steps to Prep for a Business Loan

High risk merchants often have a hard time acquiring business loans. Lenders view merchants in high risk industries as undesirable investments, even if the business owner is an experienced entrepreneur. But it is possible for high risk merchants to find and attain the necessary funds to start and grow their businesses. The following are a 5 steps to getting a business loan. Develop a Business Plan Many business owners only know that they could do with some extra cash. Lenders are not likely to disburse funds unless you can tell them exactly where the funds are going and how they […]

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A Guide for Choosing the Best Small Business Funding Option

Most business entrepreneurs choose to fund their startups through their own cash or savings. While this approach works well for many business owners, there will come a time when additional capital is required from the outside. With alternative lending options constantly evolving, small business owners are finding it easier and easier to evaluate what each lender is offering them (pricing, rates, terms, etc.). Ultimately, these non-bank lenders offer more choices. While it is fairly easy to find a list of alternative lending options for a small business, knowing what to consider while evaluating those lenders is not always as transparent. […]

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