First Down Funding Review

Caroline Banton

In a Nutshell

First Down Funding provides multiple alternative funding options for small to medium-sized businesses (SMBs) and startups. From basic working capital for everyday expenses to merchant cash advances, bridge funding, and long and short-term loans, First Down Funding has options. Borrow anywhere from $1,000 to $300,000. What’s more, most businesses experience same-day approval and next-day funding directly from this funder.

pros

  • Same-day approval and next-day funding
  • No prepayment penalties
  • First Down Funding Playbook for easy comparison

cons

  • Loan limit is $300,000
  • Cost of working capital

First Down Funding First Down Funding Visit Site

First Down Funding at a Glance

Direct lender/funder or marketplace?
Direct small business funder
Funding approvals/ Loan types
Working capital, bank only ACH, business expansion funding, flex funding, fixed funding, merchant cash advance, unsecured business funding, bridge funding, long-term loans, commercial financing, short-term funding, startup funding
Loan amount
$1,000-$300,000 (varies based on funding type)
Repayment terms
Less than one year to 10 years
APR
Starting at 5%
Best for
Small businesses, Immediate funding needs, bank-declined businesses, three-months or more in business, and startups

Find out what kind of business funding you can get from First Down Funding today!


Overview

You might recognize First Down Funding from advertisements featuring several well-known athletes, including New York Jets linebacker C.J. Mosely; Micah Terrill, the Shogun Welterweight champion; WWF Hall of Famer Bret “Hitman” Hart; and Baltimore Raven’s wide receiver Jacoby Jones. Even without the celebrity endorsements, First Down Funding is a popular option for business funding. First Down Funding has been featured in Forbes Magazine, Yahoo Finance, and Sports Illustrated. The platform has an A+ Rating with the Better Business Bureau and is Dun & BradStreet verified. First Down Funding has been funding small businesses since early 2012 and has continued to grow every year by offering a vast selection of funding options and flexible terms. First Down Funding works specifically with SMBs.

Why First Down Funding Is Good for Your Business

First Down Funding is specifically geared toward small businesses financing. The platform offers a variety of funding options that SMBs can use to purchase equipment, expand business, launch an advertising program, refinance existing debt, or other business expenses that require day-to-day working capital.

The platform is particularly suited to SMBs and startups because prequalification is online with a soft credit pull, same-day approval, and funding within 24 to 72 hours. Here are a few more reasons First Down Funding is an excellent choice for SMBs

  • Plenty of options

From working capital to long and short-term funding, First Down Funding has a broad selection of funding options. Eligibility for loans and the amount depends on your business history and other factors. 

  • Unsecured funding

First Down Funding offers unsecured business loans. Most lenders require collateral to secure financing. First Down Funding, on the other hand, offers cash advances and working capital for businesses without any collateral. This is particularly attractive to startups that have little in the way of indemnification.

  • Working capital

In addition to the range of funding options, First Down Funding offers quarterly and monthly working capital. As long as you are making payments responsibly, you can get continuous funding for your business.

Most importantly, First Down Funding is an excellent option for newer businesses because of the unconventional approval process. The company does not base its lending exclusively on your credit scores. Instead, First Down Funding looks at your business plan, potential, assets, and other factors during the approval process.

Loan Features

First Down Funding offers multiple funding options for over 300 different industries, from small business loans for restaurants to working capital for auto shops. First Down Funding works with SMEs and funds startups. SMEs can receive funding in exchange for a fixed amount of future revenue ranging from $1,000 to $300,000.

Here are some funding types and features you can expect from this company:

  • SBA loans
  • Term loans
  • Working capital
  • Unsecured Funding
  • ACH Funding

Features:

  • No prepayment penalty
  • Repayment plans up to 10 years
  • $1,000-$300,000 funding approvals
  • No minimum credit score requirements
  • Online application process
  • PlayBook by First Down Funding

The Application Process

First Down Funding’s online application process can be completed in under a minute. What’s more, the platform offers same-day approval and funding within 100 hours in most cases. Here’s how it works:

1. Apply online

The online application takes around one minute to complete. Be sure you have everything you need to apply for a business loan to minimize the time to approval.

2. Speak directly to a funding specialist

A funding specialist will help you decide which funding options are best for your business situation. You decide which option to take.

3. Receive funding. First Down Funding offers direct deposit usually within 24 to 72 hours of approval.

Before applying, make sure you have basic information, including:

  • Last three months of business banking statements
  • Account activity statement/month to date (MTD) of the current month (print to PDF)
  • Owner's name and SSN
  • Business name and tax ID/EIN
  • Proof of ownership/business license/articles 

How Much Can You Borrow?

First Down Funding offers small business funding starting at just $1,000. Thus, it's an excellent option for SMBs seeking extra cash flow to get through the month. On the other hand, First Down Funding has a maximum limit of $300,000, which is substantial for a small business. How much you can borrow depends on the type of funding.

Repayment Terms

First Down Funding offers flexible funding options. Repayment terms range from one year up to 10 years. The company does not charge a prepayment penalty if you decide to pay back your funding account in full earlier than the agreed-upon date.

Rates will vary, and your exact rate will depend on how long you’ve been in business, your credit score, and your valuable assets. 

How Safe Is It?

First Down Funding is a solidly backed funder. The platform is registered with the DC, Maryland, and Canadian Chambers of Commerce. First Down Funding is also Dun & Bradstreet verified, has an A+ rating from the Better Business Bureau, and five-star ratings from customer reviews. Additionally, First Down Funding uses manual and technological safeguards to secure and protect personal information on its website.

Help & Support

Support is not available 24/7, but help is available via a toll-free or local numbers every day of the week. Alternatively, you can send an email to the email address below or fill out the online contact form on the website.

First Down Funding First Down Funding Visit Site

Summary

First Down Funding offers much-needed financing for small businesses and other business owners who are having difficulty getting approval from traditional banks and lenders. Through several funding options, First Down Funding allows SMBs to get the financial support they need to get started, move forward, or expand their business offerings. First Down Funding has flexible funding options and terms, a wide range of loan amounts, and loans for women-owned businesses.

Physical Address

27 Maryland Ave

Annapolis, MD 21401

Caroline Banton is a freelance writer of business and finance articles that have been featured in The Huffington Post, The Motley Fool, Time, MSN, PYMNTS.com, GOBankingrates.com, SaleMove, and MyBankTracker.com. Before becoming a writer, Caroline had over fourteen years of experience working at the World Bank. Caroline has an MBA from Johns Hopkins University.

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29 Oct 2020

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