The fraud challenge when applying for a Florida Small Business Loan

My name is Drew Cashmere founder/owner of South Florida Funding Group. My company works in the Alternative Finance space helping small and mid-size business owners secure business loans or other financing vehicles to finance their business. My company partners with 40 different funding organizations from across the county. Our focus is securing loans for Florida business owners however, we are able to reach out to business owners in any state in the US and in most provinces in Canada.

This business, as in any business carries many challenges, however, one of our most challenging obstacles is securing loans for Florida business owners in a state known by many as the fraud state. Unless you have been living under a rock, do not reside in the state or do business in the state of Florida you may not be aware of this challenge. Many traditional banks and even alternative business funding companies will either walk away from a financing deal or place unreasonable demands on the business owners’ loan request due to their unwarranted concerns of potential fraud. In many cases the Florida market is getting to the point that only those businesses that do not need the funding are the only ones that tend to qualify. Needy businesses need not apply.

I have learned to overcome this Florida funding challenge by funding loans for Florida business owners from funding companies that reside outside the state. However, I still have hope that times will change and I still continue to submit loans and other financing requests locally to show support to our local economy. We all thrive when we drive the Florida economy.

I believe this challenge was worsened by our need for instant financing by just filling out a web form and pushing a button for instant funding. This process may be quick, but I believe it has increased the decline rate, because the process has become too impersonal and no time is spent by the funder to learn about the business and about the person behind the business.

At South Florida Funding Group, I pride myself in getting to know each and every client and to understand their business type, purpose and process. The more I learn about their business the more I can find the perfect funding vehicle and the perfect funder to fulfill their funding request. This process is quick and painless. I have learned that this process builds a strong client relationship and that we both benefit throughout the learning process.

To read more of my business insights go to my LinkedIn page to view my other articles. They can be found by clicking  https://www.linkedin.com/in/drew-cashmere-2689ab/detail/recent-activity/posts/

Our goal as always: TO FUND THE IMPOSSIBLE!

At South Florida Funding Group, an alternative business funding company,: WE FUND THE IMPOSSIBLE, EVEN CANNABIS!