Quick and easy tricks to get your business funded without a hassle with Formula Funding.
One of the greatest advantages of working with Formula Funding is that we can have you funded quick with out a hassle.
In most cases we can have you funded in 3 to 5 days. However, there are some quick tips to help you get to funding even faster.
This list will help you to get the working capital you need in expedient manner. So, buckle up and let’s get you prepared.
Get your ducks in a row!
Just like the proverbial boy scout it is best to be prepared for the occasion and having access to the necessary documents will go a long way to setting you up for a quick funding.
Although we normally need very little documentation to get you to the funding line, having the right documents in the correct layout will make things easier. Below is a general idea of what will be needed to get your funding complete.
- The Online Application – we make it easy with a simple one-page secure docusign document that takes 5 min at most to complete.
- Bank statements – We normally need only your most recent three months of statements. The easiest way to get your statements is to download them online through your bank website.
*quick tip: If your bank will not let you download your statements in a pdf format open the statement and click print. For PC when the print window appears select print as pdf instead of your default printer then print. On a Mac there will be a selector at the bottom right allowing you to save as pdf. Just make sure you know where you saved it and you are good to go. Repeat for all other statements. This is a good useful tip for many other documents as well.
- Copy of Valid Identification. – Be ready to provide a clear picture of your current driver’s license.
- Voided Check – Be ready to provide a clear picture of a voided check from the same business account you provided the business checking statements from.
*quick tip: Take pictures with your cell phone and send it though your email on your phone. Just remember to erase all pictures after you take them to help keep your documents secure.
- Proof of Business Ownership – The best way to show ownership is through your tax return.
*quick tip: What we are looking for is a clearly defined percentage breakdown of ownership. If you have not yet filed a tax return a current business license clearly stating your name as owner and your legal business name may work. Worst case we may be able to use your Articles of incorporation or copy of the Tax ID Letter (SS4) if it clearly states the ownership.
When you move, we move!
We understand that you are busy working hard to keep your business running as smooth as possible. Keep in mind, if you need working capital quickly. Making sure this process is a priority will actually waste less of your time. Our goal is to get you the best funding in the shortest time possible. When your funding adviser calls you, it is going to be for something important. It may get frustrating if you are asked for documents you don’t have or they seem hard to get. Your funding adviser will have advise to help you get most documents quickly. If you are direct and up front with your complete situation, your adviser will know what needs to get done to get you funded.
*quick Tip: sometimes the documents you provide lead to more questions that need to be answered with more documentation. Stay patient and provide the documents as quickly as possible. We will only ask you for what is needed to get your business funded.
Mind the gap between what you expect and reality.
At Formula Funding we take a very straight forward approach to helping you understand what is available and what you qualify for. Once we have the initial application and 3 recent months of your business checking account we can get to work. Right away we will look at your performance and your application. Within 24 hours we will call you back with a clear quote that will reflect the information you provided without running your credit. Once we come to an agreement, we will submit your information to our investors to get an approval. You can expect to have some word of an approval within 24 to 48 hours. If you need to get funds very quickly or you need a certain amount let us know upfront.
*quick Tip: The more accurate you are on your application the more accurate the quote will be. If you follow the steps above, you will have a much happier experience and receive your funds with very little hassle. Knowing what to expect changes the game for you and we want you to have all the information you need to make the proper decisions for your business.
Please give us a call (858) 283-5034 or apply online at formulafunding.com.
We are looking forward to helping you to grow your business.