BANK LOANS VS BUSINESS FUNDING

Small Business Funding
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Small and medium-sized businesses across America consistently struggle to attain the funding they need through traditional financing institutions. A merchant cash advance (MCA) from First Down Funding provides these businesses with a viable alternative option.

A merchant cash advance is a low-level form of business funding that requires less documentation than a traditional program and carries less risk. No collateral is required for American businesses who pursue this option, as eligibility for this funding is determined by the value of a business’s projected future transactions.

At First Down Funding, we offer a wide range of business funding programs to suit the unique needs of small businesses in America. Get in touch with us today to learn more about our business funding solutions.

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First Down Funding’s Bank Only ACH Program

Not every business is well suited to a term loan, which is why we offer a variety of funding programs — including a merchant cash advance.

First Down Funding is proud to announce it’s Bank Only ACH Program. This is a special merchant cash advance that is based on your business’s daily or weekly sales. The program provides businesses with a quick source of funding and eliminates the need to step foot into a bank or credit union.

The Bank Only ACH program provides your business with the instant cash and funding it needs, right when you need it. The advance is paid off in small percentages based on your business’s weekly or daily sales.

Our cash advance program stands out from other merchant cash advance offerings. Unlike other companies, we don’t require your business to process credit cards as a form of payment.

Image of money signifying business cash advance


First Down Funding’s Guide to Merchant Cash Advances:

What is a merchant cash advance?

US News defines a merchant cash advance as “a type of short-term financing designed to deliver cash to small businesses quickly.” It is a one-time infusion of capital into your small business in the form of a lump sum.

A merchant cash advance can be obtained in various amounts based on your business history. 

It is borrowed against your projected profit and repaid based on a percentage of future revenue. 

We will work with you to identify the repayment schedule that best works for your small business.

Who is best suited for a merchant cash advance?

A merchant cash advance is an ideal financial solution for small businesses that have consistent cash flow, but little credit history and collateral. After all, a business cash advance requires neither. 

If a merchant cash advance is not the right funding option for your company, you can make use of our other business financing programs. We can help you find the right financing solution that best suits the unique needs of your small business.

When would you use a merchant cash advance?

Although a merchant cash advance can be used for various business purposes, most commonly they are used to:

  • Access cash quickly
  • Implement a new project
  • Invest in a big inventory order
  • Purchase additional equipment, or replace old equipment

How your business can benefit from a merchant cash advance

A merchant cash advance comes with a wide variety of advantages for small businesses looking for a quick infusion of cash:

Immediate Access: With a merchant cash advance, your business has immediate access to funds. This type of funding is designed to be prompt to meet time-sensitive needs.

Low Cost: A merchant cash advance doesn’t involve excessive fees, like closing costs or fixed payments.

Flexibility: First Down Funding offers flexible amounts and repayment schedules for merchant cash advances.

Quick Approval: When you apply for a merchant cash advance, the approval process is a lot faster than when you apply for a term loan. This is because it requires significantly less paperwork.

No Collateral: The greatest advantage of a merchant cash advance, save for its immediacy, is the fact that it doesn’t require collateral. This is ideal for small businesses that don’t have the collateral to leverage in the first place and struggle to find feasible funding options because of this.

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Small Business Funding Advantages

Funding programs like a merchant cash advance can make a world of difference for American small businesses struggling to attain quick funding while in the startup phase. The reality is that not every business can facilitate term loans — which is where alternative small business funding comes in.

Alternative small business funding is the perfect option for new companies for various reasons. Consider the advantages of applying for small business funding from First Down Funding for your new business: 

  • Approval rates are as high as 85% for Small Business Funding
  • These facilities leave no mark on your credit file
  • Approvals are provided in as little as three hours
  • Businesses with only 60 days of history can apply for Small Business Funding
  • There are no hidden fees or interest charges
  • Flexible repayments are available
Image of scale showing difference between alternative lender and traditional financing options in Maryland


First Down Funding VS Traditional Business Financing

Small businesses continuously struggle to attain the financial aid they need to sustain and grow their company. Businesses need to start somewhere, but struggle to meet the unrealistic expectations of traditional institutions when they apply for small business loans.

Fortunately, there are alternative funding options for these businesses. First Down Funding is a funding lender that provides financing options to businesses in Maryland and across the United States.

Consider First Down Funding’s efficient and streamlined process in comparison to that of traditional businesses:

BANK LOANS FIRST DOWN CREDIT CARDS GOVERNMENT
FUNDING
$100,000+

$1,000 – $300,000

Credit Based

Credit Dependent
PROCESS
Long Application Credit Inspection Business Plan Industry Specific

Prequalify Online Soft Credit Pulls Same Day Approval All Industries Accepted

Prequalify Online Hard/Pulls 3-10 Day Approval

Long Application Credit Inspection Business Plan Needed Industry Specific
APPROVAL
20-30 Days+
Same Day
5-21 Business Days

30-90 Days+
FUNDING TIME
30-60 Days+

24-72 Hours

TBD / TBA

60-90 Days+
APPROVAL CRITERIA
Credit Score & Collateral

Overall Business Health

Credit Score

Credit Score & Collateral


Applying for Funding With Bad Credit: Bad Credit Funding

All small businesses share one thing in common: the need for funds. Unfortunately, attaining these funds are hard for small businesses that lack the credit score and credit history needed to be considered for traditional small business loans. 

Fortunately, alternative lenders make financing solutions like merchant cash advances and term loans accessible to these businesses. In fact, First Down Funding provides bad credit funding to help small businesses access the funds they need to get back on track.

Attaining financial solutions with bad credit doesn’t have to be impossible. If your credit score is between 300 and 629, consider the ways you can leverage what you do have against your less-than-stellar credit history:

Using Your Collateral: A merchant cash advance doesn’t require collateral. That said, if you are dealing with less than stellar credit, leveraging assets like unpaid invoices or future debit or credit card transactions can help you to secure your funds.

Pay a Cash Down Payment: Sometimes, small businesses have poor credit but good cash flow. In this case, a small business can secure financing by pledging a cash down payment to cover the costs of a loan.

Sign a Personal Guarantee: It’s common for a small business owner to have better personal credit than business credit. If you sign a personal guarantee, your qualifications will be based more on your personal ability to pay back funds than your business’s capabilities. 

Apply for a Smaller Loan: A business owner is far more likely to get accepted for a smaller loan than, for example, a business expansion loan. If a business owner is flexible in the amount of financing they need, applying for a smaller loan is a great way for a small business to get funding with bad credit.

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Apply For Your Business Cash Advance Today

First Down Funding makes it easy for small businesses in Maryland, Texas and across America to access the funds they need. Our straightforward process is easy, secure and fast:

  1. Apply Online: You can apply online for a merchant cash advance from First Down Funding — all you need to do is fill out our form. Our form typically only takes a couple of minutes to fill out.
  2. Await Approval: We send your application to one of our credit specialists to assess, and then respond to your claim within 24 hours. 
  3. Funds: It’s important for us to provide approval quickly so that you can get the funds you need when you need them. After approving your application for a business cash advance, we aim to get you your funds within 24 – 72 hours.
  4. Support: Our relationship doesn’t end with you receiving your funds — we are here every step of the way. We provide you with the support you need and will create a repayment schedule that makes sense for your small business.
Image of man shaking hands with business cash advance lender


About First Down Funding: Trusted Business Cash Advance Lenders

First Down Funding is proud to be a leading pioneer of the merchant cash advance industry. We are a lender in Maryland committed to making business funding accessible to small to medium-sized businesses across America. 

Traditional institutions have historically made it very hard for these businesses to attain the funds they need. As a result, we’ve implemented a streamlined process and developed a wide variety of funding programs so that these small businesses can make use of timely growth opportunities.

We leverage data science, cutting edge technology, consultations and strategic partnerships to provide small businesses with the best financing solution best suited to them.

Apply online for a business financing solution from First Down Funding.

Small Business Funding
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