COVID-19 Business Resources
02
September
2015

Need a Small Business Loan Fast? A Bank May Not Be Your Best Option.

There’s the “speed of business” – and it’s pretty darn fast — and then there’s a velocity that is even faster and more frenetic: and it’s called the “speed of small business.” That’s because life on the small business landscape doesn’t merely change day to day – it changes hour to hour, and sometimes moment to moment!

In light of this relentlessly rapid pace, you’d think that any company offering small business loans would naturally provide them as quickly as possible, right? Unfortunately, that’s not always the case when dealing with traditional bank loans.

ASAP = As Slow As Possible? 

We all know that the acronym ASAP stands for “as soon as possible.” However, when it comes to assessing small business loan applications, banks tend to operate on a rather different plane: one where the “S” stands for SLOW.

Indeed, most banks typically take at least a month to assess small business loan applications; and some take several months. What’s more, we’re only referring to assessing here. Approval is another matter entirely.

So what’s behind the banks’ laid-back pace? It’s not because they want to keep you from achieving your goals. However, the have lengthy processes in place to assess and work towards avoiding risk.

Mulligan Funding: Understanding the Speed of Small Business

At Mulligan Funding, we come from a small business background – and intimately understand that golden opportunities come and go in a matter of days, and expenses need to be covered ASAP where the S stands for SOON, not SLOW.

That’s why our standard is to review your small business loan application within 48 hours; though sometimes it can be the same day or the next business day. And if we approve your application and you’re happy with the numbers, we’ll have the funds in your account within a matter of days. There’s no collateral, you can use the funds however you wish, and pre-payment is possible (though certainly not required) with no penalty of any kind.

Basically, we accommodate for things the banks may not: in today’s business landscape, there is only one kind of small business loan: a fast small business loan!

Call Mulligan Funding at 855-326-3564 to discuss your financing options today!

*The information shared is intended to be used for informational purposes only and you should independently research and verify.

Note: Prior to January 22, 2020, Mulligan Funding operated solely as a direct lender, originating all of its own loans and Merchant Cash Advance contracts. From that date onwards, the majority of funding offered by Mulligan Funding will be by Loans originated by FinWise Bank, a Utah-chartered Bank, pursuant to a Loan Program conducted jointly by Mulligan Funding and FinWise Bank.