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Small Business Funding through First Down Funding

December 20, 2015 9:31 pm Published by Leave your thoughts

If you’re looking for cash advance or funding for your new small business setup, a first down funding may be the solution to solve your issues. An American based company located in the Historic Downtown District of Annapolis, MD, provides good options as compared to traditional companies. Business owners who wish for quick loan approval without submitting strict credit requirements and extensive approval procedures that normally come with most bank advances.

If you are running a small or medium-sized business in need of a good amount, then a business cash advance through first down funding is an accurate choice for you. Before any dealing, consider this: that fast cash quickly fulfills your business needs.

What Is a Merchant Cash Advance?

Officially, a merchant cash advance is not similar to traditional bank loans. It’s something different that technically based upon the debit & credit card sales of a business. Our company gives personal attention to each client and when a business owner starts selling regularly, we collect a percentage of business debit & credit card transactions until the factor rate and advance amount has been collected.

Uses for a Merchant Cash Advance

You can use small business funding for a lot of different purposes, but remember it’s not a long term funding, they are best for covering the flow of cash in a short time. Business owners frequently use a merchant cash advance for covering plenty of things such as buying equipment for the office, purchasing inventory, paying marketing expenditures, making repairs urgently, and other temporary projects growth.

Repayment and Loan Costs

A business owner who uses a merchant cash advance from first down funding will normally payback 20 to 40 percent or more of the amount they loaned out from us. Generally, the percentage we get from our customers on loan is known as the factor rate.

Repayment percentage is based on the following points that are given below:

#1 How much the sales of your credit cards every month.

#2 How long the business owner takes to repay or pay back the money to the company.

#3 And the funds amount that a business owner receives from first down funding.

Pros & Cons of a Business Cash Advance

PROS: 

A business cash advance is a very simple process to get funding for your small business, they don’t involve complex, lengthy form-filling procedures that come with other local loans. Once your application gets approved (normally approvals are provided within 3 hours), you can quickly receive the funds. The reality is that not every business can simplify term loans, and that’s the reason merchant cash advances can make a world of difference for American small businesses struggling to get fast funding while in the startup stage.

As compared to traditional loans, first down funding does not require you to give us any extra proofs and assets as security. A business cash advance can be helpful for smaller business owners who could not have vehicles or real estate properties as collateral.

A lot of business cash advance providers emphasize less on their business credit scores that make them a choice for companies that are not able to get approved for a loan due to their less business credit score.

Another advantage of business cash advance funding is that your monetary obligations adjust automatically along with your income levels. If you have a slow day means you didn’t get many sales, the advance business cash loan provider just gathers less money on that day.

Fast approval and funds release. Overall, the application process is very simple!

CONS:

Shorter repayment terms than a term loan for business owners.

Is a Business Cash Advance funding is Right option for your small business?

Business cash advance funding offers you a fast solution to your problems. With the help of this immediate funding process, you can fulfill your business needs within less period. On the other hand, a merchant cash advance is also one of the most expensive options available for business owners. So, if you want to fulfill your business needs in a short time then I’ll highly recommend business cash advance funding from First Down Funding. First Down Funding provides small business loans as well as the guidance you need to keep your business thriving. As small business financial lenders, we have a large variety of merchant services that are designed to help with all of your business’ needs immediately. Our continuous growth allows us to give personal attention to each client’s specific needs and offer creative solutions.

Final verdict

Merchant cash advances are frequently achievable for businesses having high credit scores that avoid them from getting old-type business loans. In the final verdict, I’ll give you an advice that before applying for a merchant cash advance you should need to high your credit score, on the other hand, it doesn’t mean that your credit score is the only factor to attain business loan but generally they do check before approving the application of business owner.

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