Los Angeles-Long Beach, CA (1888PressRelease)
April 22, 2009 - A credit score is used to determine the risk of lending to an individual. "The score is supposed to distill all the information in your credit report, using a formula to calculate a single number that indicates your credit worthiness," (bankrate.com). "Scores range from the 300s to about 900, with the vast majority of folks falling in the 600s and 700s. The higher the score, the better."
According to the site cited above, credit scores are based on past delinquency, the way the credit has been used, the age of the credit file, the number of times a person asks for credit and a customer's mix of credit. Unfortunately, small business owners' credit scores often get in the way of much needed funds for their businesses.
Merchant Resources makes it easier for small business owners with "poor credit" to get business funds. Since MRI relies on the business rather than the borrower, for merchant cash advance repayments, funding specialists are less concerned with the borrower's credit history and more interested in the monthly credit card sales that the business processes.
MRI can fund small business owners with credit scores as low as 500-550, as long as their businesses process a minimum of $5,000 in monthly credit card sales, they have owned their businesses for at least six months, they have a least one year remaining on their businesses' leases and they have no unresolved bankruptcies.
MRI funds owners of retail and service-oriented businesses, i.e. fast food, restaurants, gyms and even franchises.
For more information about the bad credit business loan alternative, please visit http://www.bad-credit-business-loans.org. Small business owners who would like to find out if they qualify for a merchant cash advance, despite poor credit scores, may visit the website as well, or call (800) 539-5447 to speak directly to a funding specialist.
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