Term Funding For Your Business

Who Qualifies for Business Term Funding?

To apply for a business term funding, you simply have to fill out an application and provide three months’ worth of business bank statements. We don’t require extensive paperwork, perfect credit scores, or try to make things complicated. As long as you run a profitable business, you have an excellent chance of qualifying for small business funding with First Down Funding.

How to Apply for a Business Term Funding

Like any small business funding facilitated by First Down Funding, your application process is simple and straightforward. In just a few steps, you’ll have a completed application. Here’s what you’ll need for your funding application.

Consider Your Needs

Your application will go much more smoothly if you have a ballpark idea of how much you’ll need. Consider how you plan to use this funding over time also, to account for everything you will need.

Gather Your Documents

At First Down Funding, we like to start with documents from your past three months of business to get a good sense of where your business is. Here are the things you’ll need for your application:

• Driver’s license
• Voided business check
• Bank statements
• First Down Funding 1 Page Application

Submit Your Application

Now, all that’s left is to submit your business term funding application. At First Down Funding, we do everything we can to simplify the application process. You can call us if you want someone to guide you through the process and offer advice. Otherwise, all you have to do is apply online. You can finalize your application quickly and hear back from us within 24 hours. From there, you may even receive your funds within just a few business days.

How Does a Business Term Funding Work?

A business term funding is the most common and easily-understood small business funding. After your application is approved, you’ll receive a lump sum of money. You’ll repay this money with interest on a fixed schedule. You might make payments daily, weekly, biweekly, or monthly, depending on your funding terms. Unlike some other business funding, you’ll pay the same amount of money in each funding payment.

How Much Does a Business Term Funding Cost?

How much your business term funding costs depends on a few factors. First, your original funding amount will obviously determine how much your funding costs. Second, your cost of working capital will alter that cost. At First Down Funding, our term funding business rates start at 9%. Your regular payments for your business term funding will be smaller than they would be for other types of business funding. That’s because you pay off term funding in a matter of years, not weeks or months. If you want to get an estimate of your funding payment costs, try using our business funding quote tool at the top of this page.