Our goal is to help small and mid-sized businesses that do or do not accept credit cards, get the capital they need to operate and grow successfully with our Merchant Cash Advance program or our Loan Program.
Getting the small business capital, you need to help with day-to-day expenses is challenging in today’s economy. We recognize when it comes to obtaining working capital, there are many choices. As a business owner, understanding the type of small business funding you can qualify for and whom you can rely on is an important part of the decision-making process.
Your Discount Funding Company is the trusted provider of merchant cash advances and various loan products to businesses nationwide. Business owners have come to us to get the small business capital they need for inventory, vendor financing, renovation, equipment, taxes or just extra cash flow.
Obtaining a merchant cash advance or a small business loan is simple. You can receive up to $2,000,000 per location in as little as 2 business days, just by using your future sales. There is no hassle of long approval times or mounds of required paper work. One simple application for a pre-qualification within one hour giving you the number that you need to make a decision with terms up to 18 months.
Alternative lenders throughout the country cater to small businesses that are hampered with bad credit or limited cash needs that banks will not look at. If a traditional bank cannot make money on a loan, usually under $50,000, they will not even pursue the financing. If a business has been established for less than 3 or 4 years it’s the same story as they are viewed as too much of a risk. Your Discount Funding Company has the insight and experience in dealing with small businesses with those characteristics and is able to secure business financing for businesses all over the country and any type of industry.
Business Financing Obstacles
Small businesses that have been in business for less than 3 or 4 years have an extremely difficult time of finding business financing. While banks are the best place to go to for capital due to their long repayment terms and low rates, they are very restrictive. Regulations have caused banks to tighten their underwriting significantly from what it was / were 5 years ago. Most small businesses look for financing from between $10,000 and $50,000. The cost for a bank to underwrite and service loans of this size does not allow them to make any money. The rates are so low and terms so long it is just about impossible to make any money once the overhead is factored in. True, if you have a great relationship with your bank, they will gladly provide business financing for you. When you don’t, that is where alternative lenders step in. Credit scores, time in business, or low loan requests do not deter them. They have proprietary underwriting and algorithms specific to high-risk businesses that allow them to provide business financing with very low defaults. This type of business financing, alternative financing is quickly becoming accepted by many small businesses.
How Alternative Business Financing Works
These types of loans require daily, weekly or monthly repayments. That is, either a fixed daily payment or a percentage of your daily deposits is debited electronically on a daily basis. The entire process from submission to funding is typically under 5 days. The documentation required is rather limited. One must provide only 4 months of merchant processing statements (only if you process credit cards) and 3 months of bank statements to get an approval in just 24 hours. Once an approval decision is given only a photo ID, voided check, lease, landlord verification, and merchant call will be required prior to funding. Business financing of this sort is very valuable to a majority of the small businesses in our country. Too many have credit scores deemed risky and the amount of small businesses less than 3 or 4 years old is staggering. If you’re a small business looking for business financing apply and see how easy the process is and what you can be approved for. Your Discount Funding Company is always standing by to navigate the murky waters of business financing and making the process hassle free, seamless, and fast!