Small Business Funding
Funding provided to small businesses for various purposes by First Down Funding.
What is small business funding?
Small business funding help provide much needed cash flow to keep companies up and running. Funding provided to small businesses for various purposes by First Down Funding. These funding may have less restrictive requirements, enabling the small business to secure the funds.
Small business owners no longer have to rely on traditional banks for finding small business funding. From lines of credit to invoice financing, online funders offer a variety of financing solutions at competitive working capital cost. Alternative funders are important for small businesses looking for funding that may not have the option of being financed through a traditional bank. First Down Funding is the primary source for small business funding. If your company is profitable and you have decent cash flow, but you need funds to expand, then you can contact First Down Funding to learn what funding options are available for your business.
Determine your need for small business funding
There are a few variables to consider when determining the right small business funding for your company. Think about whether a long-term or short-term funding option is best for your needs. If you just need funding to fulfill a large order or take advantage of a one-time opportunity, funding with shorter terms are probably best. If you need to purchase a piece of machinery that will last 20+ years, a long term funding is more cost effective.
are you looking for revenue based business funding?
We Can Design A Funding Program For Your Small Or Medium Size Business.
Learn moreThe PlayBook by First Down Funding
Overview, Calculations and Case Study
Calculate a desired small business funding payment
One of the most important things to determine before applying for small business funding is how much you can afford to pay back on a monthly basis. Don’t be too ambitious when making this calculation in order to avoid defaulting and causing damage to your credit history.
You should determine exactly how much your business needs to borrow to achieve its goals. This should be a precise figure, not a range. Funding companies want to see that you’ve done your research and that you will spend their money in a way that will help your business thrive. They want you to succeed so they’re sure to get paid back.
Are you credit-worthy of small business funding?
CHECK YOUR CREDIT HISTORY
To be considered creditworthy, borrowers must provide First Down Funding with adequate financial information to prove their ability to payback the funding.
IDEAL CREDIT SCORE FOR FUNDING
Borrowers should expect to have good credit to qualify for business funding. Funding partners build an assessment of the applicant’s character by evaluating how they handled debt in the past.
Credit Scores Broken Down
FICO Scores are comprised of payment history (35 percent), types of credit (10 percent), debt (30 percent), new credit (10 percent), and length of credit history (15 percent). The history reveals the borrower’s ability to pay on time on their installment funding, credit cards, finance company accounts, and mortgages. Potential show stoppers include bankruptcies, excessive credit inquiries, liens, foreclosures, lawsuits, and judgements.
Are you looking for working capital funding?
We Help Small Businesses With Working Capital Funding For Short & Long Term Projects
Learn moreHow to prepare for small business funding:
Here are five steps to help you qualify for a small-business funding.
- Build credit scores.
- Know the First Down Funding qualifications and requirements.
- Gather financial and legal documents.
- Develop a strong business plan.
- Provide collateral.