Ever since it was founded, Alternative Funding Group has extended over $200 million worth of easy credit to small businesses all across the United States. This is a sizable amount considering the fact that small businesses find it very difficult to get any funding from the traditional lending agencies like banks and other financial institutions. It is notable that small businesses account for over 44% of all economic activity in the US and that should have been enough for them to qualify for access to fast and easy credit. Unfortunately, small businesses have their own requirements that the big lenders do not understand, resulting in denial of credit to the small businesses.
Fast and easy approval of small loan amounts
Small businesses have small funding requirements but in most cases, they are in a tearing hurry to get the cash. They may need the business funding for different purposes e.g., to meet working capital shortfall, procure stock to meet seasonal demand for specific goods, pay for building additional infrastructure, etc. In most if not all cases, small businesses need the funding in quick time failing which, they are likely to stagnate further into negative growth. They operate with very marginal cushion because of their need to grow fast and acquire enough market-share to be able to sustain short term shocks.
Business viability is more important than credit score
When Alternative Funding Group assesses a small borrower’s eligibility, the most important criterion is the viability of the borrower’s business to enable him/her to repay the loan within the stipulated time along with interest. Is there enough promise in the business to generate the kind of revenue that will enable the borrower to realistically allocate enough to repay the debt? The business owner’s credit history is not much of a criterion, although it may be so if there is any criminal case related to misuse of borrowed funds. Generally, such cases are rare and most loan applications by small businesses are assessed on the basis of business viability.
Is the agency oriented to provide fast and easy funding?
The efficiency with which a small business funding agency operates, depends on its orientation with regard to the kind of businesses they want to deal with. For instance, traditional lending agencies like banks are mostly not oriented to fund small businesses due to the difficult eligibility criteria they insist on. While this is understandable for bigger loans, it does not help small businesses whose loan requirements are small. The big lenders are not prepared to make adjustments in their eligibility criteria for lending smaller amounts. Agencies dedicated to fund small businesses, take very little time to approve and disburse the loans.
Alternative Funding Group is a reputable agency that is dedicated to funding small businesses with easy approvals and quick disbursal of cash. Right from the application process up to the disbursal of the fund, the process has been made very simple for small business owners to make their loan applications. They have a very simple online application form that takes just a few minutes to fill. Thereafter, they set up the borrower’s account and finalize the process before transferring the money to his/her account. It cannot get simpler than this.