Working Capital Program
We all know capital is the lifeblood of any business. The Working Capital program is designed to provide a quick cash infusion. Most business owners find this program useful for purchasing inventory, adding new staff, increasing marketing/advertising, expansion, covering unexpected expenses, or taking advantage of a sudden opportunity…the possibilities are endless. We typically fund the business the equivalent of 50-100% of their average monthly revenue. For example: Your business has $50,000/month in average gross revenue over the last 4 months, our offer for funding could range from $25,000-$50,000. A free consultation with one of our Financing Specialists will determine eligibility.
Equipment Purchase Program
Virtually every business requires specialty equipment or technology to be effective. The Equipment purchase program allows business owners to finance this equipment and, based on qualifications, get additional working capital at the same time. From work trucks and heavy machinery to tanning beds and X-ray machines we can finance just about anything – New or Used! A free consultation with one of our Financing Specialists will determine eligibility.
Working Capital Program
Any business that’s been under the same ownership for at least 12 months and has at least $15,000/month in average gross revenue may qualify. Revenue needs to be verifiable on business checking account statements. A free consultation with one of our Financing Specialists will determine eligibility.
Equipment Purchase Program
Virtually any business owner may qualify for this program as long as their credit meets minimum requirements. This generally means a 600+ FICO and no open bankruptcies or large liens. No time in business or revenue requirements apply to this program, although start-ups may require higher minimum credit scores. A free consultation with one of our Financing Specialists will determine eligibility.
Your approval is determined by your businesses cash flow over the last 6-12 months, creditworthiness, business history, and other risk factors. We lend from $10,000-$500,000 on our Working Capital program and finance up to $250,000 on our Equipment purchase program.
Working Capital Program
4-60 month terms are offered.
Equipment Purchase Program
24-60 month terms are offered.
None of our programs have prepayment penalties. In fact some of our programs offer discounts for paying off early.
We have the ability to structure funding to best suit our client’s business. We strive to find the most cost effective solution for the business owner.
Formula Funding will beat any written offer for Working Capital or Equipment purchase or we will send you $1,000!*
*The following rules and restrictions apply:
– The competing offer needs to be of like terms, structure and collateral requirements.
– The competing offer needs to be commercially available to the public and independently verifiable.
– The competing offer needs to be dated within 30-days of our application.
– Merchant needs to accept and fund the competing offer that we are unable to beat within 5 business days of contract date to be eligible for $1,000 guarantee.
– $1,000 Guarantee applies to one counter of the competing offer.
– Limit of one $1,000 guarantee check per business entity for either the Working Capital or Equipment purchase programs.
We offer this unique guarantee because we are confident you will not find a lower cost on Working Capital or Equipment financing anywhere else in the market!
You can use the funding for any business purpose.
Working Capital Program
Payments are generally made Monday-Friday excluding holidays. 22 small payments are made per month on average. Think of a normal monthly payment then divide that by 22. We utilize this micro-payment method to maximize the cash flow to the business owner and keep revenue streams as consistent as possible at all times. We have found that traditional monthly payments on a short term loan put too much strain on a small business. As a built-in safety net our daily payments are a small portion of the businesses daily deposits – usually in the 5-10% range. We set the payment up on an automatic ACH making it easy to manage and budget for.
Equipment Purchase Program
Traditional monthly payments are made over 24-60 months in length. First and last months payments are typically required up front. Automatic ACH payments may also be established.
Working Capital Program
A simple 1-page Application and your last 4 months of business bank statements is typically all that is required. Some scenarios may require additional documentation. Your Financing Specialist will let you know exactly what is required during your free consultation.
Equipment Purchase Program
A simple 1-page Application and your Equipment Quote is typically all that is required. Some scenarios may require additional documentation. Your Financing Specialist will let you know exactly what is required during your free consultation.
Big banks typically have impossibly high credit and cash flow standards, steep asset and collateral requirements, and usually take months to give you a straight answer. Furthermore, Big Banks only approve approximately 1 in 10 business applicants. Once you jump through the banks hoops and red tape you will appreciate our streamlined approval process even more!
Perfect credit is not required! We can accept credit scores as low as 500 and some of our programs have no credit requirement at all.
YES, YES, and YES!
We lend in all 50 states.
Unfortunately, no: All of our programs require at least of 1 year Time in Business with at least $10,000/mo in gross deposits per month over the last 3 months.
No, we can approve businesses that do not accept credit cards. Our Equipment purchase program has no revenue requirement at all.
Call 619-728-6496 or email us at info@formulafunding.com
Simply call 619-728-6496 or Apply Now