Welcome to South Florida Funding Group – Your Business Funding Source
Give us a Call
Email Us
Hours: Mon-Saturday
7:00am -6:00pm
image- graphic of computer screen with hand extended out shaking businessman hand

Alternative Business Funding Loan...What is it? And Is it right for my Business?

Southfloridafundinggroup.com was established to help fill the financing void that was created when the large institutional banks let the small business owners without a means to fund or grow their business after the end of the great recession from 2008-2010. Southfloridafundinggroup.com selected 20 private "banks" from around the country to partner with, each with their own specialty to provide alternative funding to small business owners. We provide alternative funding to small businesses that are unable to secure funds through large institutional banks, or who do not wish to wade through the long bank approval process. The capital that can be used TODAY and, not next week or next month!

The capital from an alternative business loan is considered "funding" and not a loan. The reason being an alternative funded loan is an advance of future sales revenue. The cost for the capital borrowed is a pre-determined flat fee or "factor rate" on future sales usually repaid in a year or less. Some lenders will provide a longer repayment term if requested.

Pre-determined repayment is debited automatically from daily bank deposits or credit card sales receipts. The daily debited rate is fixed, however, your sales will vary providing variable payment amount. Your payment amount increases as sales increase and decrease as your sales decreases, offering some flexibility during slow sales periods.

Fixed Daily Payment - The payments are fixed pre-determined payment with a set number of payments and deducted from daily sales bank deposits.

ACH Payments - The payments vary based on your daily month bank deposit times your fixed factor rate. The factor rate could be from 5% to as much as 25%.

Variable Holdback of Processing - The payments are withheld from your daily credit card sales. The payments will vary based on your daily card credit sales and your holdback rate. The holdback rate could be from 5% to as much as 45%.

The interest rates for alternative funding is higher than traditional loan rates because they are considered high risk. The reasons being; First, these funds are provided to small businesses that are unable to secure funds through large institutional banks due to business finance issues. Secondly, small business owners tend to have a higher rate of default than other business owners. And, the vast majority of alternative funding provided is not secured by borrower assets providing limited recourse for recovery.

The noted advantage of alternative funding is the speed and simplicity of securing the funding. Funding approval 48 to 72 hours, with capital being provide in less than 7 days. Also, lenders require substantially less documentation than a traditional bank. The minimal documentation includes an application, your last 3-6 months of bank statements or credit card processing statements, valid ID, voided business bank check, copy of lease or mortgage documentation or landlord contact information. If a substantial amount of funding is requested a lender will also request a copy of last year's tax returns and/or P/L statements. This varies based on funding size and the funding institution. Funding amounts range from $5000 to $500,000. However, Southfloridafundinggroup.com funding partners will fund up to $5.0M.

Alternative business lenders similar to banks will always run both your personal and business credit. The difference being alternative lenders do not require a high business or personal credit score. The weight of their decision is based on your business's cash flow and monthly business revenue. A solid business bank account with a good average daily deposit balances weight more heavily than your credit score. However, if you let your personal credit score dip below 500 you may have difficulty securing alternative funding.

Financing is a large part of building your business and. it's a step by step process. If at first you cannot qualify for an alternative funding loan, South Florida Funding Group will provide you resources to help you to monitor and improve your credit score. Once your score improves you will be able to secure financing for your business.

Get the funding you need NOW! Find Drew Cashmere on Linkedin or call 786-544-2700. Email: This email address is being protected from spambots. You need JavaScript enabled to view it.




The business funding you need when others say No!.

2569 Bay Pointe Dr.
Weston FL 33327




 The operator of this website is NOT a lender, does not make offers for loans, and does not broker online loans to lenders or lender partners. Customers who arrive at www.SouthFloridaFundingGroup.com are matched with a lender or a lender partner, who offer business loan products or credit repair services.  

© Copyright 2024 South Florida Funding Group. All Rights Reserved. Developed by AWD.

This website designed to be accessible to and usable by people with and without disabilities.  Please contact us if you encounter usability issues on this website.