Small Business Funding
The Best for your Small Business

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When small businesses apply for funding through a traditional financing lender, they often struggle with putting up the collateral required. The reality is that most small businesses either lack this collateral or can’t risk putting their most significant assets on the line.

At First Down Funding, we offer unsecured business funding to help startups, small, and medium-sized businesses establish their financial stability. Our unsecured business loans make it possible for small businesses in America to attain the funding they need without having to present collateral. 

With unsecured funding, you won’t be able to access as much capital right away as you would with secured funding. That said, it’s still a suitable option for businesses in need of financing. 

As an alternative lender in Maryland, we operate differently than traditional banks. We maintain an application process and decision time that is quick and more streamlined than that of a traditional institution. This allows us to be more flexible and enables us to work with you to determine the best business financing program for your company. 

We will work closely with your small business and examine your projected future transaction values to form a game plan based on your unique needs. Based out of Maryland, we offer our small business funding solutions across American cities like Baltimore and Houston.

First Down Funding’s Guide to Unsecured Business Loans:

What is an unsecured business loan?

An unsecured business loan is a financing solution that makes it possible for businesses to attain funding without the need to leverage collateral. Collateral is any prominent asset that a business may have, ranging from equipment to retail space. 

What is the purpose of collateral?

Collateral is typically put on the line in the case that a business owner isn’t able to repay a loan. 

That said, collateral can be a major risk for small businesses. Oftentimes, new businesses either don’t have assets or can’t afford to leverage the assets they do have. 

A lot of the time, these assets are what keep small businesses in operation. If you require a business loan that doesn’t involve putting collateral on the line, then an unsecured business loan is the business financing solution for you. 

Are unsecured loans a safe option?

Unsecured loans are considered “unsecured” because they don’t require collateral — not because they are unsafe. At the end of the day, a safe loan is one that is personalized and realistic for a business. 

This is why we work with you to form realistic payment schedules and don’t ask you to put your assets on the line to attain funding. 

Why should I get an unsecured business loan?

Your small business will want to consider an unsecured business loan if you require funds and don’t have collateral to leverage. Unsecured business loans are smaller in scale, making them best suited for smaller scale monetary needs. 

If you are looking for access to more working capital, an unsecured business loan may not be for you. Instead, you may want to consider a long term funding program that can provide larger amounts of financing. 

Picture of phone showing how to apply online for unsecured business loan

How to get an unsecured business loan

Get an unsecured business loan by applying online at First Down Funding. We remove the middleman and enable you to apply online so that you can skip the long waits and paperwork associated with traditional business funding. 

How to use unsecured business loans

There are many ways that your small business can use its unsecured business loan. As an alternative lender, we give you the freedom to allocate funds to your business as you see fit.

That said, common uses for unsecured loans include:

  • Obtaining working capital
  • Removing any current financial stresses
  • Purchasing inventory and equipment
  • Growing company operations & more 

What are examples of unsecured loans?

In addition to unsecured business loans, other types of unsecured loans include personal lines of credit, student loans and credit cards. 

How to get unsecured loans with bad credit

Traditional institutions typically assess a small business’s application for funding on credit score and history. Unfortunately, most small businesses lack the credit and history required for these loans.

A bad credit score is considered anywhere between 300 and 692. That said, bad credit is interpreted differently by banks and other traditional institutions. 

As an alternative lender in Maryland, First Down Funding offers unsecured bad credit funding to small businesses in America. There are various ways that a small business can apply for business financing with bad credit: 

  1. If your business has adequate cash flow but poor credit, consider supplying a cash down payment. This way you can cover a percentage of your loan to secure the funding.
  2. If your personal credit history is better than your business credit, consider weighing more heavily on your personal credit when applying for small business funding. By signing a personal guarantee within your funding agreement, your qualifications will be based more on your personal ability to pay back your loan, instead of your business’s ability to do so.
  3. Even with bad credit, leveraging assets like unpaid customer invoices or future credit or debit card transactions can help you secure your loan.  
  4. If your business is flexible in the funding it requires, consider applying for a smaller loan amount. A small business lender like us that offers bad credit financing solutions is more likely to be able to get you a smaller loan at first.
Picture of ipad beside desktop showing how to apply online for unsecured business loan

Apply for Your Unsecured Business Loan 

First Down Funding boasts a streamlined process that makes applying for and obtaining funding easy, quick and straightforward:

1: Apply Online

First, you apply online for your unsecured business loan by filling out and submitting our application form. Once submitted, your application will be sent to one of our credit specialists for assessment. 

2: Approval

We offer fast approval because we understand that, for a small business, waiting for funds can be the difference between attaining and losing a crucial business opportunity. Because we assess businesses based on overall business health and not credit or collateral, we are able to approve far more businesses for funding than a traditional institution. We typically provide same-day approval. 

3: Funds 

After we approve your application, we deliver your unsecured funding directly into your account within 24-78 hours. We are committed to providing you with a prompt business financing solution.

Picture of scale weighing differences between alternative and traditional business funding lenders in Maryland Baltimore

First Down Funding VS. Traditional Financing Options 

For years, small businesses have jumped through hoops to attain unsecured funding through traditional channels like banks. 

Traditional institutions’ expectations of small businesses remain unrealistic. Most new businesses have not been in operation long enough to achieve the credit history and meet the requirements necessary to qualify for these loans.

Even so, when traditional institutions do approve small businesses, the process is convoluted. Lengthy credit inspections, in-person meetings and documentation make the process a long, uphill battle. For this reason, more and more small businesses are opting to use alternative lenders to streamline their funding process. 

There are Maryland banks and other American institutions that offer business loans, but small businesses don’t have time for their wait times and unrealistic expectations. First Down Funding boasts a straightforward process so that your business can access funding easily, efficiently, securely and promptly. No waiting in line or filling out stacks of paperwork.

When you apply online for unsecured business funding with First Down Funding, we act fast. We won’t charge any surprise fees, and will work personally with you to help you identify the best financing program for your business. 

Consider the limitations of applying for funding through traditional institutions compared to the streamlined service we offer: 

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 
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About First Down Funding: An Alternative Option for Small Businesses

First Down Funding provides business financing solutions across America that range from unsecured business loans to commercial business loans. 

By levering our cutting edge technology, data science, strategic partnerships and in-depth consultations, we are able to provide transparent, effective, and prompt business financing solutions. Our innovative approach to funding makes us compassionate, transparent and efficient when it comes to financing your business. 

We know that there is no one-size-fits-all solution to business funding. Instead of relying on traditional financial metrics or asking you to put collateral on the line, we get to know you and use your business’s future transaction projections to identify the best business financing solution for you.

You can expect flexibility, agility, security and security when you apply for unsecured business loans and other funding programs with us. 

Apply online today for a small business loan from First Down Funding. We are here to support you every step of the way.

Small Business Funding
The Best for your Small Business

Get Pre Approved in Minutes!