First Down Funding is a company headquartered in Annapolis that offers small business funding services in the U.S. They provide personalized service to meet your business’ needs and a straightforward application process.
A small business is a privately owned company or a partnership with fewer employees and revenue than other moderately-sized companies. When you’re a small business owner, you’re always watching your cash flow and the sales that you make. You need to meet your overhead by making enough sales. Sometimes, you’ve made the sales but haven’t been paid, or it’s off-season, and you need cash to see you through the slow period.
You need cash now, so it’s time to look at your small business funding options to ensure that you can meet all your bills. There are many small business funding options to infuse your company with cash now. Some possibilities include repaying the loan through credit card sales, while others offer reasonable monthly payments. So when you’re in a bind, it’s time to look at your available options.
What Are the Funding Options for a Small Business?
Small business funding can help you improve cash flow or invest in new equipment or other essential items. If your business is healthy with a good credit rating, you might consider a credit line or additional traditional funding. However, even when your credit is not the best, there are ways to get cash when you need it.
Small business relief funding can be found through a variety of short-term loans. These loans offer cash now with the expectation that the repayment occurs quickly. While it would be nice to have money in reserve for lean times, it isn’t always possible. For times like that, a small business loan can provide you the relief funding you need in as little as 24 hours.
Money for a small business start-up can be hard to find. However, First Down Funding offers long-term loans of up to $300,000. You might be able to secure a loan similar to this to get your business off the ground. From a physical location to equipment, starting a business can require a lot of capital, and they will partner with you to get your company up and running.
How to Get a Small Business Funding With First Down Funding
Offering various funding solutions, First Down Funding strives to make it as easy as possible to get your small business the funding to support your business growth or cover emergencies that pop up by providing effective business financing solutions. Offering flexible terms, the funds will be available for your company as quickly as possible, usually in as little as 24 hours after funding approvals. Here are the necessary steps you need to take to start the process of applying for small business funding:
- Complete the application: Use the online application. You will need to provide your company’s basic information, such as daily sales, address, phone number, banking information, and more. You should be able to complete this application in around 10 minutes or less.
- Choose your options: Depending on the small business loan type, you’ll have a few options, for example, the amount you want to receive and the payment terms. The terms can include the percentage of credit card receipts you wish to pay each day or the number of months you want to repay the amount.
- Get your funds: When your loan is approved, the cash will be deposited into your bank account. In some cases, it’s possible to receive a deposit the same day as the application.
Depending on the type of small business loan you choose, you may need to upload some essential documents. Some documents verify your income, and others address other information. These documents might include:
- Your driver’s license or a copy of some other government-issued identification to verify your identity.
- From your company’s business accounts, you might be asked to provide a voided check.
- You may need to provide three months’ worth of bank statements from your business account.
- Statements from the company that processes your credit cards, usually the previous three months.
The goal is to make the process as easy as possible. However, it is also necessary to ensure that you can repay the loan. The reason why you may need to present extra information depending on the loan type you are applying for and your specific circumstances.
The Benefits Of First Down Funding
There may be a few reasons you would choose First Down Funding as your first call when looking for small business funding. First, they offer outstanding customer service to help you every step of the way: from choosing the best loan product for your needs to set up a repayment schedule. Here are a few of the benefits of choosing First Down Funding for your small business funding:
- Options: They offer a variety of short-term and long-term loan options to meet different businesses’ needs.
- Fast online application: You can complete and submit your online application in as little as 10 minutes.
- Fast approval: The team strives to provide you with a decision on the same day.
- Fast cash: Once your small business funding option is approved, you will get the money directly into your bank account. In some cases, it arrives the same day and no longer than the next day.
First Down Funding acts as a partner to your business and not just a lender. After all, it is in their best interest to see your business flourishing too. This is why they may look at other things and not just your personal or business credit scores as a traditional funding provider may do. So if you have a bad credit score or no collateral, there is a chance that First Down Funding can still help you.
Business Funding Options from First Down Funding
- ACH Business Loans: You might also hear it called a Bank Only ACH Program; this loan offers you a cash advance. The amount of your sales will determine the loan amount either on a daily or weekly basis.
- Working Capital Loan: If you are having problems paying the rent, payroll, mortgage, or utility bills (operational expenses), a working capital loan may be the best funding solution for you.
- Bridge Funding: Also known as swing or gap funding, bridge funding provides cash when you’re between two large payments that your small business routinely receives.
- Next-Day Funding: Next-day funding offers cash fast. After choosing the type of loan you want to secure, the money is typically deposited into your bank account within 24 hours. Most loans that offer next-day funding are short-term loans, and you must plan to pay them back quicker than other loan types.
- Short Term Funding Loans: A short-term funding loan helps provides fast cash when your company struggles with its cash flow. Although these loans offer quick cash, the repayment terms usually span months and not years as long-term loans do.
- Merchant Cash Advance Loan Business Funding: Another option for fast funding is a merchant cash advance loan. This type of funding provides money to your bank account in 24 hours, and it bases the amount on your daily credit card receipts. You also use your daily credit card sales to repay this short-term loan.
- Long Term Business Loans: A long-term business loan can provide you with between $2,000 to $300,000. These loans are usually to invest in your company somehow, such as expansion or new equipment. These loans also take a lot longer to pay off, sometimes up to 10 years.
First Down Funding is ready to help you with your small business funding. With so many options, you can find the best funding option for your business, apply today, and use the money tomorrow.