| ALTERNATIVE
CAPITAL FUNDING
Q. What is alternative capital funding?
A. Alternative capital funding is receiving
business capital from a source other than a
bank. The amount of money you can receive
from Fundswired, an alternative funding
company, ranges between $10,000 to $750,000.
Alternative capital funding is not a loan,
but works with your credit card receivables
to advance you working capital. Like a loan,
the cost of the money is tax deductible, but
mostly all other features are different.
For instance, with a traditional bank
loan, your personal and business credit
scores and your time in business dictate
whether or not you will be approved for a
loan. Alternative funding operates on
different guidelines than a bank. Your
credit score can be much less than perfect
and you can be in business only three months
and still be approved for the working
capital you want.
In fact, 90% of businesses that have fair
credit, but have been open one year or more
are approved. The figure is slightly less
for those in business less than one year,
but still hovers around 80%. A bank would
probably turn down a business owner for a
loan if that person had fair credit and had
been in business LESS THAN 2 YEARS. Banks
generally flat-out turn down any business
who has tax liens or a bankruptcy in the
last 2 years. Fundswired can approve a
business with $150,000 or less in tax liens
and a bankruptcy over one year old.
With a bank loan you are require to
submit, along with a fee based application,
a minimum 2 years personal and business
financials and lots of other supporting
documents. With Fundswired, for any funding
$100,000 or less, no personal or business financial statements
are required.
Fundings over $100,000 may need, in some
cases, to provide front page of last year's
tax return.
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