Even though the U.S. economy is on an upward trend, extensive paperwork, the need for collateral, low degree of flexibility and slow process that’s characteristic of established banks make traditional business loans less and less accessible to small business owners. According to industry metrics only 1 of 4 small businesses are eligible for a bank loan while the approval rate is much higher with alternative lenders.
Alternative business lending has come a long way since the late 2000s and more small business are looking at this type of financing as a reliable source of working capital. The application and approval process is done exclusively online and business owners are able to receive the funds in 24 hours or less.
Revenue based business funding
Our most popular program based on your business revenue & performance over the last 90 days. Fit for small-sized businesses generating at least $10,000 in gross monthly revenue.
FLEX™ business financing
Fundomate’s flexible business funding program gives you competitive rates and the option of early payoff at any point during the term. This allows you to focus on the core of your business and worry less about cash-flow.
Line of credit alternative
Designed for merchants with a FICO credit score of 680+, this program allows you to access up to $500,000 and lets you maximize the use of the funds throughout the entire term. Compared to similar products on the market for which you have to pay part of the principle back right away and put the lender first, our line of credit alternative focuses on giving your business a competitive edge.