What is Fast Capital Funding?

Need money in a hurry? For any business to successfully move forward, having access to capital is of the utmost importance. But, sometimes, you can’t afford to be left waiting for weeks, or even months, for a yes or no from more traditional funding routes, which can prove problematic. Fortunately, the Alternative Finance industry is unveiling a new generation of alternative lenders and business finance products, some of which could grant you the funds your business requires sooner than you expect. So, if you need access to quick cash but don’t know where to begin, here’s what you need to know about fast capital funding.

Why should I apply for fast capital funding?

No matter which stage your business is at, making sure that you have enough capital at hand to support growth, innovation and day-to-day operations is a crucial responsibility that you can’t afford to overlook. However, as your business continues to trade, you may encounter situations that require an urgent response. This could involve anything from late payments, uneven cash flow, corporation tax, unexpected payment demands or funding existing projects to paying staff wages or even dealing with the results of natural disasters. Naturally, during such situations, you can’t afford to be left waiting around to find out if you can have the funding or not. So, rather than drawing upon your own savings, redirecting funds from elsewhere in your business or passing the burden onto friends and family, you could, instead, seek alternative routes and apply for fast capital funding instead. Applicable in a variety of financial situations, you could be offered an agreement in as little as 48 hours (depending on the complexity of the request), with the funds following soon after.

Looking to raise capital for your business in a hurry? Don’t know which finance solutions your business may be eligible for? Apply for Fast Capital Funding or learn more about how your business could benefit.

What do I need to apply for fast capital funding?

What makes fast capital funding so useful is the versatility of many of the products that are on offer regarding eligibility. Although lenders will usually request permission to review your credit profile in order to gain a more insightful understanding of you and your business’ financial situation, possessing an adverse credit rating won’t always lead to a rejection. This is because each of these products takes into account different aspects of your business, so you could raise funds on account of your past incomes, card-based (credit and debit card) sales, unpaid business-to-business (B2B) invoices or even the equity contained within your unencumbered assets (equipment, machinery or vehicles). Nevertheless, it’s worth noting that your credit rating will affect the interest rate you’re offered, so taking the time to generate a credit report to identify any issues that can be resolved easily could save your business money in the long run.

In addition, you’ll also need to submit a number of documents along with your application which, depending on the product you’re considering, should be outlined in the documents sent to you by the lender. However, the most commonly requested documents usually range from recent and past bank statements, profit and loss statements, cashflow forecasts, collateral documentation, balance sheet and inventory management reports to tax returns. As such, before placing your application always check what documents are required and what format they need to be provided in, helping you avoid any unnecessary delays.  

What products can I apply for?

Sourcing an appropriate solution that offers your business the levels of support it requires can be stressful, especially if you’re an SME and are looking to raise capital fast. By exploring what the Alternative Finance industry has to offer, your business could benefit from having access to products such as Merchant Cash Advance, Overdraft Replacement, Invoice Finance and Asset Refinance. Therefore, it’s never to too late to grant your business the capital it needs to go forward and succeed.

Looking to raise capital at short notice?

As your business continues to trade, you’re certain to run into many obstacles along the way that need to be overcome, and in a timely manner. But if you’ve got a limited budget and have funds tied up in other areas of your business, finding the capital to solve these on your own may not be an option. However, that’s where applying for fast capital funding can tip the scales back in your favour, allowing you to regain control of your business. All you need to do is source a suitable and cost-effect agreement for your business from a lender you can trust.

At Rangewell, we’re an Access to Finance specialist who’s mapped over 400 lenders to offer you an overview of more than 23,000 business finance products. Our services are free to use and we’ll also guide you through the application process. So if you’re looking to raise funds for your business in a hurry, apply for Fast Capital Funding today or find out more with Rangewell.