It can be incredibly challenging and frustrating for small businesses in America to secure the financing they need to grow and succeed — but it doesn’t have to be.
First Down Funding is a business funding company in Maryland that makes long term business loans accessible to small and medium-sized businesses throughout America.
We offer long term business loans in amounts up to $150,000 to help businesses achieve their long term goals. These loans can be used for investing in new equipment, marketing campaigns, hiring, and more.
Through transparent and secure processes, we provide a range of efficient business financing solutions. Learn more about our long term funding program today.
It’s time to secure the financing your business needs. Work with our long term funding experts who will support you along the way
At First Down Funding, we put our knowledge and skills to good use. We provide professional guidance and consultancy services throughout the process to ensure that you get the financial solutions you need.
Even if you’ve applied for financing and been denied elsewhere, you can apply for our long term funding packages. You may find our long term loans to be the right business financing solution for your company.
Our long term funding options include:
A long term business loan is a large sum of money that is lent to a business and paid back over a year or longer. These loans are typically taken out to facilitate significant business investments.
Many confuse long term business loans with a business line of credit — but these are two separate financial solutions. A line of credit is more like a credit card; it has a lower interest rate that fluctuates based on your spending and payment history.
Whereas a long term loan is used to finance a major investment, a line of credit is more often used to finance consistent day to day business expenses.
The biggest difference between these two financial solutions is that a line of credit doesn’t require repayment unless you utilize the funds. A long term loan, on the other hand, provides funds upfront to be paid back over a period of time.
Companies who use long term loans are typically on the verge of growth and require funds for substantial investments like stocking equipment or hiring teams to increase production capacity.
These loans provide a more substantial amount than other term loans and require a commitment to a lengthier repayment schedule. For this reason, long term loans require a high credit score and sufficient credit history — which is more common of established businesses.
There are many ways that an established company can benefit from obtaining long term funding. For one, the interest rates of long term loans are significantly lower than that of shorter-term loans.
The payment schedule overall is more cost-effective; because these loans are paid back over a longer period of time, the payments tend to be in smaller amounts. These are frequent payments which, when made consistently, can also help you build up your credit score.
These funds can facilitate business growth by helping you invest in equipment, refinance debt, implement marketing campaigns and more.
We work with you to understand you and your business. We will provide mentorship, support and long term funding at a pace that your company can sustain.
Once you have been approved for your long term loan, the options of how to use your funds are endless. After all, as an alternative lender in Maryland, we don’t place the same limitations that traditional institutions do on how to allocate your funds.
No one knows what your business needs as well as you do. Whether you want to implement a marketing campaign or double the amount of equipment you have on-site, it is up to you how you want to apply your funds.
That said, we will work directly with you to discuss your objectives so that your funding package is geared towards these goals.
Potential uses of long term business loans include (but are not limited to):
Remember that all businesses are unique, and your own aims and objectives may differ from those listed above. If you want to explore your options before you get started, don’t hesitate to get in touch. Our lending company will be happy to run through these options with you.
Traditional institutions are no longer the only channel available for obtaining small business funding. First Down Funding is an alternative funding lender in Maryland, Baltimore committed to supporting the financial needs of American small businesses.
Our funding process is straightforward, prompt and compassionate. Our lending company will work with you to understand your business goals, whether that be new equipment or new office space.
Compare the lengthy, convoluted funding processes of traditional institutions like banks to that of our alternative small business funding company:
|BANK LOANS||FIRST DOWN FUNDING|
|FUNDING||$100,000+||$1,000 – $300,000|
|PROCESS||Long Application Credit Inspection Business Plan Industry Specific||Prequalify Online Soft Credit Pulls Same Day Approval All Industries Accepted|
|APPROVAL||20-30 Days+||Same Day|
|FUNDING TIME||30-60 Days+||24-72 Hours|
|APPROVAL CRITERIA||Credit Score & Collateral||Overall Business Health|
Long term business loans are geared towards established businesses with good credit history. That said, if your business has poor credit, you still have business funding options. In fact, our financing company provides bad credit funding to help small businesses get back on the right track.
If you are a small business with less than stellar credit and are in need of financing, consider the following:
Signing a Personal Agreement: In the case that your personal credit is better than your business’s credit, consider signing a personal guarantee. This way, your loan application will be assessed based on your personal ability to pay off a loan, rather than your business’s ability.
Pledging a Cash Down Payment: If your business has adequate cash flow, you can use that cash to cover a percentage of your loan costs. This cash can help you secure the funding that you need.
Applying for a Smaller Amount: Long term loans can be challenging for less established businesses to attain. That said, even with poor credit, your business can still get accepted for a smaller funding amount. After successfully repaying a short term loan, you will be better equipped to take on more substantial funding.
Providing Assets or Collateral: Leverage assets like unpaid invoices, future transactions, or collateral like equipment to allow your revenue to demonstrate your capability to pay back a loan.
First Down Funding is a financial lending company in Maryland committed to supporting small and medium-sized businesses in America. We understand how challenging it can be for small businesses to attain long term business loans through traditional channels.
We’ve created a streamlined process that makes financing options like long term business loans quick, easy and attainable. Our speedy and straightforward process means no waiting around, quick responses, and prompt approvals and funds. This way, you can get the funds you need to invest in new equipment, hire a team of employees, you name it.
At First Down Funding, we pride ourselves on being honest and transparent every step of the way. We don’t present any surprises or hidden fees; we work with you personally to ensure realistic expectations, and to gauge the unique needs of your business.
By working with you, we are able to understand your business’s capabilities and processes, which helps us to develop fair and flexible repayment terms.
We take an innovative approach to funding by leveraging data science, cutting edge technology, strategic partnerships, and in-depth consultations. Learn more about our business financing solutions today!
Apply online for your long term loan with First Down Funding.
First Down Funding’s process is designed to take the stress and strain out of getting financing for businesses in the USA. This is why we have streamlined our process to make obtaining funds as efficient as possible:
Fill Out The Application. Our application can be completed in as little time as one or two minutes when you apply online.
Wait for Approval: Our approval process takes less than one day in most cases.
Get Your Funds: If we approve your application, you can expect your funds within 24 – 72 hours. No need to wait!
Continued Support: We continue to provide support and consultation so you have the financing you need going forward. Our business experts can make sure that your needs are looked after in the right way. We offer flexible repayment schedules so that you can repay your funding without ending up with bad credit or crippling your organization with rigid repayments.
Apply online today for a long term business loan from First Down Funding.