Easy Credit Facility through Merchant Account

Introduction

Every business needs some capital and support from banking and financial services. Gone are the days when people could start a business with a small outlet and get a loan from the local lender or a bank only on the basis of goodwill. Even if the borrower failed to repay the loan the lenders would be lenient and allow him to repay when he had the money.

Times have changed and it is an ironic situation that unless you have money the banks do not like to open a merchant account for your company. They have many stipulations for high-risk accounts and it is difficult to meet the requirements sometimes and you may be denied the merchant account or charged a very high-interest rate.

Do you have a high-risk business?

If you have a business helping people in their Credit Repair/ Credit Restoration/ Credit Counseling, then the financial institutions will treat you like an outsider and will not help at all. We, on the other hand, are a service company and we have worked with many high-risk companies and we are aware of the requirements that company in credit card business might have. We realize that it is almost impossible to work and succeed without an online presence and a merchant account.

Online Businesses

Online businesses have many risks and responsibilities. They do not work directly with a customer or in other words, they may not meet the client face to face as the credit counseling and credit repair services are mostly completed online through a website. We realize that you do need a merchant account and therefore, we have designed many combinations that can help you in your online business endeavor. Payment processing and billing are some of the issues that we can help you with.

Denied a merchant account?

If you have been denied the facility of a merchant account by processors like PayPal and First Data due to the fact that credit card is not present during payment or the card owner does not sign the receipt, then we have an option to take care of this as well. The requirement of the rolling reserve is also waived off as we understand that you may need some money to tide over short-term necessities. A fact that we recognize is that e-commerce needs a merchant account and without that, a company cannot succeed in the industry.

New businesses

We also appreciate that when a new business is just starting, there are budgetary constraints and we open their account without any setup or application fee. Your customers have the choice to pay through multiple gateways, which will help you receive your payments regularly and without any hindrance. You can receive your payments through Visa, MasterCard, Amex or discovery etc. Though there is no fee for setting up and application there is a fee for the services that we provide. This charge is decided based on the history of the business and may be slightly higher in case of a start-up. We can cater to the businesses where there are multiple or recurring billing systems.

Domestic & Offshore Options

We provide a merchant account through domestic and offshore options. What happens is that some companies are in the high-risk group and the local financial institutions decline to provide any kind of assistance. It may also happen if your company is registered in another country. In these situations, we check the feasibility and then decide which option will be better for you. A domestic account will be safer and have better security options. But if needed we will help you through offshore accounts even though the rate of interest will be slightly higher. But it is still better than not having a merchant account at all. Both the options are possible only due to our expertise and knowledge of the regulatory procedures. New merchants may also need assistance when they need to use ACH Processing/Check Processing, the check does not have to be sent to the bank immediately. We process and help to get you the liquid funds as soon as possible. We also guide you through the process of check drafting.

Online presence

This is one aspect that is non-negotiable. Every business needs an online presence and for all their transactions they need a virtual terminal. These virtual terminals are essential as their clients will pay the money online even when the credit card is not physically present and they cannot sign the receipt. Your clients are already going through some counseling for the right use of credit cards, as they are not well versed in their use. Alternately, they might buy a scheme and then try to get a refund. A chargeback after a long time may not be allowed by many companies but we allow for the same.

Clients’ preferred mode of payment

Now, this is a very important aspect as many merchant service providers have limited access to payment gateways. We make sure that you can receive payments through all the possible gateways. All major cards are accepted. Payment gateways also encourage customers to use a particular service. We have seen many at times that a customer goes through the service description and opens the payment gateway and the transaction gets canceled. This may happen due to many reasons.

1. The payment gateway did not function properly.

2. He did not get access to his favorite gateway or it was not available.

3. The favorite mode of payment through credit card was not available.

Therefore, we ensure that all payment gateways are accepted when you have an account with us. At the same time, it is also important to ensure that these gateways work smoothly all the time without any hitch.

Underwriting

A bank or a financing company may deny you the credit facility for many reasons. In such a scenario you will suffer and that is not acceptable to us. We, therefore, use the multiple underwriting methods. We take the help of many banks to underwrite the finance extended to you. This helps in a continuous flow of money to your company.

Conclusion

We have been in this business for quite some time and understand it very well. We can customize a solution according to the needs of your new company. The application process is very simple and can be completed in very less time. We can guide and support you and you can also check our website for more information.