First Down Funding offers long-term business loans to small to medium-sized businesses in the U.S., helping small business owners secure long-term funding with flexible terms to support their business growth.
Providing similar small business funding services as a traditional funding provider, First Down Funding is considered an alternative lender because it will look at other requirements for funding approvals. For example, a bad credit score may prevent you from getting a small business loan through a bank. In contrast, First Down Funding may approve your long-term funding based on financial projects or the revenue history of your business.
A federal government study found that having access to credit has been fundamentally crucial for the success of small businesses and the very survival of these businesses in an increasingly competitive, globalized environment. However, the type of business loan you get can significantly impact your business bottom line, and not every lender offers the tenure and rates your business needs. Here’s what you need to know to take the following steps in your business growth plan.
Long-Term Business Loans: When Should Entrepreneurs and Business Owners Consider Them?
In general, the best financial strategy is to link your financing to the business asset’s life. Thus, long-term funding solutions are ideal when you expect to make significant capital investment or expand your business growth for several years.
For example, a packaging plant should likely opt for a long-term business loan when buying new cartoning machines that will last for 12 years.
Long-term funding may also make sense when you encounter a sudden, unexpected considerable expense. Margins are already very tight for many enterprises, and an emergency expense can make a tight financial situation worse. In these cases, long-term business loans can help businesses to spread the cost out over several years, taking some of the pain out of the sudden expense.
Finally, long-term loans can help your business to take advantage of lower interest rates. The Organisation for Economic Co-operation and Development says in a report that interest rates have historically been much lower and more competitive the longer your loan tenure.
Why Should You Choose First Down Funding For Your Business Financing?
An Online Application
First Down Funding’s online application itself immediately makes it stand out. According to the Federal Deposit Insurance Corporation‘s survey of more than 1,000 American lenders, most banks don’t allow small businesses to apply for a long-term business loan online. In fact, less than 23% of big banks let small businesses apply for a loan online. First Down Funding’s goal of making the process as simple as possible starts right at the application stage.
First Down Funding offers effective business financing solutions and understands the importance of small business owners needing money fast. For this reason, First Down Funding can issue your funds in as little as 24 hours after funding approvals. In addition, with a 75% approval rate, you can count a higher chance of approval than with traditional lenders.
Oriented Towards Small Businesses
First Down Funding and its team of small business funding managers are specifically focused on helping small businesses with their cash flow. Unlike more traditional lenders that may cater to all forms of individuals and enterprises, First Down Funding specializes in small businesses’ unique needs and understands what you’re trying to achieve through your long-term business loans.
Long-Term Business Loans for Bad Credit
Often, small businesses face a financial challenge that’s entirely out of their control, such as an unscrupulous landlord or a tax hike. This can often leave a business owner struggling with bad credit.
First Down Funding understands this and has numerous options and strategies for helping you to get bad credit business funding when you need it most.
Personalized Customer Service
Unlike other lenders, First Down Funding works with you from the start, acting as a partner rather than a lender to help you find the right funding solution for your business.
Applying for a Long-Term Business Loan: The First Down Funding Option
First Down Funding, based in Maryland, provides accessible long-term business loans for American small businesses.
While many banks make the application process difficult, First Down Funding’s approach is streamlined and efficient so you can stay focused on running your company and not worrying about obtaining financing:
- Step 1: Complete First Down Funding’s online loan application. You will need to provide all the basic, standard information, including your EIN # / Tax ID Number, the amount of financing you need, and the purpose of said financing.
- Step 2: Specify the financing options that best meet your needs. First Down Funding provides various loan terms and interest rates. The best choice for your company depends on factors such as your growth plan and cash flow.
- Step 3: Receive your money. Once your application is reviewed and approved, First Down Funding automatically deposits your financing into your business bank account. How long this takes depends on several factors but can sometimes occur within 24 hours of submitting your application.
Other First Down Funding Options for Small Businesses
First Down Funding offers more than just long-term business loans. There is a suite of financial tools and financing options to meet all of your business needs, including:
- ACH Business Loans: Get a cash advance based on your sales averages.
- Bridge Funding: When you’re waiting for a customer to settle a late invoice, use bridge funding to bridge the gap.
- Merchant Cash Advance (MCA) Loan Business Funding: This type of financing is based on your existing credit cards’ daily activity, like next-day funding.
- Next-Day Funding: Whether it’s a sudden bill or an investment you need to make ASAP, next-day funding ensures a time delay doesn’t sabotage your business success.
- Short-Term Loans: Maintain a healthy cash flow with a short-term loan of three years or less.
- Working Capital Loan: Fund short-term business expenditures, such as paying off a past-due electricity bill.
First Down Funding has many options to get funding for your business. Apply today, and get the money for your business as early as tomorrow.