sales@firstamericanmerchant.com
Give us a call for more info 1-800-210-5649

high risk business Blog Posts

By First American Merchant

Feel free to give us a call for more info 1-800-210-5649

Business Loans for Women Owned Businesses

Women-owned businesses made up almost 30% of all businesses based in America. They accounted for an economic impact of almost $3 trillion, thus generating or maintaining 23 million jobs, which is 16% of all the jobs in the US. In 2016, innovative companies were introduced by female founders. Women entrepreneurs earned millions to expand their businesses. Financing for Women-Owned Businesses It’s not too easy for women to get access to working capital. It can be challenging for them to obtain business financing from traditional lenders to grow their business. To give approval for a small business loan, traditional lenders can […]

Read More…

Small Business Owner | High Risk Merchant Account Options

Struggling to find the merchant account services you need? If you’ve been turned away by the bank – or multiple banks – it’s time to consider what a high-risk provider can offer you. For the “high-risk” business, small business funding and payment processing services continue to be difficult to find. A high-risk provider offers safe and secure options, regardless of the risks involved with a business type or industry. First American Merchant, for example, is a full-service provider. Meaning, their team of professionals have years of experience helping “hard-to-approve” merchants secure all the services they need to operate smoothly and […]

Read More…

Merchant Account Services for the Penny Auction Business

Penny auctions (also known as bidding fee auctions) are a type of all-pay auction, meaning all participants are required to pay a non-refundable fee to place each, small incremental bid. In order for these penny auctions to take place, these businesses must have electronic payment processing. The ability to accept and process credit and debit cards requires a merchant account – something that is not easy for a penny auction business to secure. Penny auctions are considered to be high risk. In fact, their reputation are so tarnished by scam websites and businesses that take advantage of consumers that they […]

Read More…

6 Alternative Business Funding Options for the Small Business Owner

According to Sean O’Malley, president and co-founder of SmartBiz, “Although small businesses make up a vital part of the economy, access to small-business loans has been restricted since 2008.” Even though small business lending options are improving, there are still many entrepreneurs that are still ineligible for traditional lending options. For one reason or another, these businesses are considered to be too risky and are turned away. Banks refuse to offer business financing of any kind. Thankfully, the number of alternative options for small businesses and startups continues to increase. If you’re business is currently in need of a little […]

Read More…

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 […]

Read More…

Funding Your High-Risk Business – Why You Should Choose a Cash Advance

The high-risk sector is lucrative, but it is also marred with difficulties. Among the many challenges merchants in risky industries face is raising funds. Banks and other traditional lending institutions rarely issue loans to businesses that have a large probability of failure, and when they do, they usually choke up the recipient with high-interest rates and strict requirements. Business owners are often left grappling to find alternative sources. If you ask an expert, they’ll likely advise you forego high-risk business loans, and instead apply for a cash advance. And below are some reasons why it would be a good idea […]

Read More…

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 […]

Read More…

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 […]

Read More…

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 […]

Read More…

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 […]

Read More…