06
June
2017

The Benefits of Alternative Business Funding

Business owners often seek alternative business funding to support their venture at some point because it’s so difficult to obtain business capital loans from banks. No matter how long you’ve been in business, you’ll need working capital to sustain and grow your business.

Banks can be difficult to work with when you need business capital loans. Many times you can plan for the funding you’ll need, but other times you need money right away for unexpected expenses. Most often banks simply aren’t willing to work with you. If you’ve been turned down or delayed by traditional banks, alternative business funding is the way to go.

Here are some of the benefits business owners enjoy with alternative business financing.

Less Paperwork and Quicker Funding

Mulligan Funding offers a simple one-page application. Approval is usually within hours. And funding is within a couple of days. Compare this to an extensive application at banks, which can take several weeks or months to approve business capital loans (if you get approved at all).

Because of the difficulties dealing with traditional lenders, business owners often dip into their own assets to fund their expansion. Sadly, many times these “loans” never get paid back, and the owner ends up taking capital that should have been saved for their retirement of personal use. We can understand the frustration and are pleased to offer alternative business funding to help.

Collateral is Not Needed

Who wants the pressure of putting their home or other valuable items up for collateral when applying for business capital loans? No business owner should have to live with that stress. Alternative business funding requires no collateral in most instances.

Perfect Credit Not Required

Regardless of their success, many business owners have less than perfect credit. With alternative business funding, you don’t have to have perfect credit to fund your business. At Mulligan Funding, we will provide the working capital you need at terms that are reasonable for both parties. Trying to obtain business capital loans through a bank with imperfect credit will likely result in a denied loan application. This is one reason why alternative business loans are beneficial. 

Shorter Payback Period Reduces Stress on Your Business

What banks sometimes don’t understand is business owners just need short-term funding to get them out of a pinch or to take advantage of an opportunity. Mulligan Funding appreciates that when these opportunities come up, they need to be taken advantage of quickly in most cases. The best way to take advantage of them is through alternative business funding. Business owners will not only appreciate a shorter term loan. Short term business capital loans allow the payback period to reduce the financial burden on your business quickly.

At Mulligan Funding, we’ve helped business owners obtain business capital loans since 2008. The advantages of alternative business funding are easy to see for yourself, but we are always available to speak with you to determine the right situation for your business financially. Be sure to contact us for your funding needs, whether it’s additional cash-flow, remodeling, inventory, advertising, expansion or more!

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