Business Loans For the Serial Entrepreneur (With Bad Credit)

A serial entrepreneur is defined as “an entrepreneur who starts a number of new businesses after having already started and exited previous business ventures,” or “an entrepreneur who sets up a string of new ventures, one after the other.”

Either way, serial entrepreneurs start lots of businesses and starting lots of businesses always brings forth the need for lots of financing.

But what happens when one has an addiction to entrepreneurship, but has a less-than-perfect credit score? Is there a way to finance a string of small businesses even if the owner’s credit score isn’t the greatest? The answer: Yes!

Through the merchant cash advance, serial entrepreneurs can finance their many businesses, or finance one business after the other even in the face of bad credit.

Most merchant cash advance lenders can provide business financing for applicants with credit scores of at least 550, and in the eyes of most lenders (of all types), that is bad credit.

Though the merchant cash advance is not a possible means of financing for startup businesses, it is possible to receive funds for a small business through a merchant cash advance, once it has been up and running for at least six months and the owner can produce six months of credit card statements for that business.

Requirements and Procedures:
• Business must process at least $5,000 per month in credit card sales
• Owner must have owned business for at least six months

Once the applicant’s advance has been approved, he/she receives a lump sum of cash which is wired into the account of his/her choice. That amount is then repaid through a small percentage deducted from the business’s daily credit card sales. This easy, hassle-free payback method eliminates the need to remember to make loan payments and allows serial entrepreneurs to focus on what’s important - the next business venture.

Whether you need the money to finance a business that you plan to sell in the future, or you need funds for one of many businesses that you may own. If your credit is constantly preventing you from securing these funds, try the merchant cash advance.

Gaston C. writes articles about Bad Credit Business Loans for Merchant Resources International.