Newest Posts Blogroll | MarketplaceNew Business Merchant AccountPosted on January 10, 2010. What can I do to establish a merchant account for my new company, if my current credit is low?!? I applied a few different Web terminals and get denied. However, my new company is doing well and must accept credit cards, so I can improve my credit! Catch -22! There are some things you can do to still get a merchant account. First, keep Shopping around. Some processors are just difficult. If that fails, find a "King for a Day. Apply under a different owner (if you have multiple owners of your business) or see if a friend is ready to co-sign for you. Even if you have a low credit score, there are processors that will still accept you, but can apply Whats called a "working reserve", and it will only be temporary. Rather than apply online, go to some local banks in the area you live in. They can not lend you as much as you want, but I would bet a good business plan, good sales and history company you can get a stake. There are also private equity firms which may require a higher rate but you deliver what you want. I know that many private investors with a good plan and strategy to lend money. Let me know if I can help. I would like, if I can. No guarantees though. Believe it or not www.paypal.com has a decent system. if you want to "move" a little better ... www.2checkout.com you pay an advance of $ 49 fee, but the service is good. CommentsThere are no comments.Leave a Comment |