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The PlayBook by First Down Funding

The PlayBook

The PlayBook by First Down Funding
Overview, Calculations and Case Study

5 Reasons to Choose First Down Funding for your Business Funding Needs

Securing small business funding for your American business can feel like an uphill battle. With the big banks, you may jump through hoop after hoop with the hope of being approved, only to be rejected after weeks of waiting.

Enough of that. It’s time you took back control of your business’s financial future. Thankfully, you’ve got First Down Funding on your side – we’re the alternative business funder that makes it easier than ever to get the funding you need for your business. Here are five reasons to choose us over the other guys.

1

We make the funding application process quick and easy.

With a simple online form to complete, you can fill out our application in less than 100 seconds, using whatever device you happen to be on at the time. Just have some basic financial information about your business at the ready, and you’ll be well on your way to getting funded in no time.

Most of the small businesses we approve get access to their business funding within 24-48 hours. That means you can apply for your funds in the morning, get approved in the afternoon and have the funds in your account the next business day.

2

We’ll consider you for approval when the big banks won’t.

In the wake of both the COVID recession and the 2008 financial crisis, big banks have become extremely selective about who they’re willing to approve for small business funding. That means, unless your business fits into a very narrow description of what the big banks consider the “ideal client,” your chances of being approved for business funding by them are low.

That’s not the case with First Down Funding. We’re not restricted by the same funding criteria as the big banks, so we can consider you for a funding approval when they’ve let you down. We look at all areas of your business to determine whether we can fund your business, so your chances of approval are higher.

3

We offer customized funding approvals to fit your needs.

Forget the rigid terms and restrictions imposed on your business by big banks. Because of their structure, they only offer canned, one-size-fits-all funding solutions to all but the largest institutional businesses. The trouble with that is you don’t operate a one-size-fits-all business.

You need a small business funder that offers you funding terms that meet your specific needs. We’ll take the time to understand you, your business and your financial situation in order to develop funding approvals that work for both sides.

Need a short-term, six-month funding approval to purchase equipment and expand your business? We’ve got you covered. Or maybe you need something a little more long-term, to the tune of a few years. We can make that happen, too. Whatever your business funding needs, we’re confident we can find you a personalized solution that’s tailored to your unique situation.

4

We treat you like a partner, not a transaction.

Every small business throughout America is different, and we understand that. When you deal with First Down Funding, we’ll treat you like a business partner. Our professional staff will take the time to get to know you and your business, working with you to develop specialized solutions based on your actual needs. You’re not just another number to us; you’re a valued client who’s working hard to build your business.

5

We’ve developed funding solutions across a wide variety of industries.

When it comes to funding needs, no two industries are alike, and we understand that. From restaurants to auto shops, construction companies to wholesalers, we’ve helped business owners across dozens of different industries secure the funding they need to meet their business needs. Our staff are friendly, knowledgeable, and ready to speak your language.

The Bottom Line

Whether you’re looking for small business funding to take advantage of a short-term opportunity, cover cash flow needs, expand your business, or something else entirely, First Down Funding has a small business funding solution that can meet your needs. Apply today or get in touch with us to have a conversation about how we can help get you the funds you need to focus on doing what you do best: growing your business.

Small Business Funding Calculation Examples

Example 1     $132,383 Funding Approved     32 Month Schedule/Turnaround (Term) (repaid weekly)

Example 2     $36,000 Funding Approved     13 Month Schedule/Turnaround (Term) (repaid weekly)

Example 3     $36,000 Funding Approved     12 Month Schedule/Turnaround (Term) (repaid weekly)

Example 4     $59,000 Funding Approved     24 Month Schedule/Turnaround (Term) (repaid weekly)

Example 5     $6,600 Funding Approved     10 Month Schedule/Turnaround (Term) (repaid weekly)

Example 6     $96,900 Funding Approved     15 Month Schedule/Turnaround (Term) (repaid weekly)

1 The Disbursement Amount is the amount of capital that a business receives and may be different from the Funding Amount. The Disbursement Amount is net of fees withheld from the Funding Amount. A portion of the Disbursement Amount may be used to pay off any amounts owed from a prior Funding Account or on amount owed from a third party. 

2 Your business may incur other fees that are not a condition of borrowing, such as late payment fees, returned payment fees, or monthly maintenance fees. Those fees are not reflected here. See your Funding Account arrangement for details on these fees. 

3 APR should be considered in conjunction with the Total Cost of Capital. APR may be most useful when comparing financing solutions of similar expected duration. APR is calculated here according to the principles of 12 C.F.R. §1026 (Regulation Z), using 52 payment periods of equal length and 52 payment at per year for weekly pay products. 

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The PlayBook by First Down Funding – Case Studies: The Construction Industry

If you work in the construction industry, you know that the general contracting business is very different from traditional brick-and-mortar businesses. Most jobs pay out upon completion of the work, whether in terms of milestones during the process or in full at the very end of the job.

In the meantime, however, the contractor is usually forced to pay for expenses such as materials, insurance, equipment and payroll costs out of their own pocket. Cash flow is therefore king; in the world of construction, it’s often not a question of whether a business needs funding, but where and when they’re able to get it.

Many traditional funding institutions will not fund to businesses operating in the construction industry, citing any number of reasons:

  • Inconsistent revenues resulting from a cyclical business
  • Lack of a physical brick-and-mortar location
  • A lack of collateral to put up against a funding
  • Contractors are often bonded, which means the banks don’t have first claim to assets should the business fail
  • Susceptible to market and economic downturns
  • And more

The extremely conservative funding practices of most major banks leaves a gap in the market, and that gap is filled by alternative funding institutions. Alternative funders aren’t bound by the same rules and restrictions as big banks, so they’re able to offer highly customized funding solutions that prioritize getting money into your account so you can keep your business going.

Here are two examples of how our funding solutions can help your construction business (*names and details have been changed to protect the identity of the clients; Privacy Policy).

Case Study – Tampa Remodeling & Lifestyle

Tampa Remodeling & Lifestyle is a mid-sized construction company that’s been in business for over a decade. Recently, an exciting business opportunity presented itself to the company. A major prospective client had just put out a new project for RFP, and Edgardo, the owner of Tampa Remodeling & Lifestyle, wanted to bid on it.

The challenge with this was that the nature of the job would require John to pay for substantial material and equipment costs upfront, with payment only coming after certain key milestones were hit. Without external funding, there was just no way the company could take on this job.

That’s where First Down Funding comes in. Edgardo turned to First Down Funding, whose friendly, knowledgeable staff took the time to understand his unique situation and needs. Within 48 hours, Edgardo was approved for funding within First Down of $50,000, which he would repay with total costs of working capital & receivables purchased over a period of approximately ten months. The funding provided by First Down Funding gave Edgardo the cash flow his business needed to cover upfront costs associated with the project. He was able to make ends meet until his business hit the first payout milestone of the project, and it was all thanks to First Down Funding!

Home Remodeling – Funded by Paul Pitcher of First Down Funding

Worked with Paul Pitcher of First Down Funding and it was an easy process. Lots of insight and smooth process. Thanks

Edgardo P.
Tampa Remodeling & Lifestyle
September 13, 2019

Case Study – LBS Concrete Services

LBS Concrete Services is a small construction company with big ambitions. Its owner, Loni aspired to take on larger jobs in order to expand the company’s client base and grow the business, which had been in operation for nearly five years. The trouble was that the company needed new equipment in order to be able to handle most of the larger projects that were available in their area of operation. After careful consideration, the company decided that financing was the way to go.

Loni approached his primary bank for a funding but was told that, due to the unpredictable nature of his business and inconsistent cash flow, an approval was unlikely. Furthermore, even if the bank could approve him, the process could take anywhere from 1-3 months to complete, which was time he didn’t have. The busy season for construction was about to hit with full force, and he wanted to be ready. So after some research, he contacted Sharpshooter Funding to find out about his other options.

Working with First Down Funding, Loni & his partners were able to secure small business funding within 24 hours to cover the costs of his equipment financing. He was able to pay one fixed price each week for funding that covered both the hard cost of the equipment financing and the soft costs associated with training and shipping the equipment.

With its newly-financed equipment, LBS Concrete Services was ready to start winning jobs that were previously out of the small company’s reach.

Great Treatment

Great Treatment, speed of delivery was outstanding. Everything was direct and to the point, with no hassles. Would recommend to everyone. No Doubt!

Loni S.
LBS Concrete Services
June 18, 2019
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