Have a question about the Platform Funding Process? We are here to help.
We strive to answer all your questions in a professional and timely manner. Below are the answers to some of the more common questions we get asked. Please feel free to call us toll free at 1 (866) 473-1455 or email us at email@example.com and speak directly to one of our knowledgeable representatives for more detailed answers to your questions.
A. Platform Funding has streamlined the process to obtain funding for your business. Let us do the work! Simply fill out our short online application and submit 3 months of business bank statements and we’ll take it from there. Typically we can have an approval and a funding plan within a hour. If you decide to move forward we require minimal documentation and our turnaround times are the fastest in the industry. Usually we can get you funded within 24-48 hours. Our team is always on standby!
A. Our advances range from $10,000 – $3 Million and our terms are typically between 3 – 24 month terms.
A. No. Platform Funding provides progressive business funding and is one of the best financing options for a business. The prequalification request is based on a “soft pull” which is only viewable to us, so it does not negatively impact your credit score. Before you receive funding, a “hard pull” will appear on your credit profile and may affect your credit score. The effect of a hard pull can vary by person, but the average impact is fewer than five points (credit scores are measured in hundreds of points, generally between 300 and 850).
A. You will only need to provide us with your business’s 3 most recent bank statements. However, if your business is seasonal, we may need a little more information to accurately assess your current funding request.
A. No, if you apply for funding from Platform Funding, there is no obligation to accept the offer. Your offer is valid for 30 days, at which time it expires. So remember Platform Funding provides progressive business funding and is one of the best financing options for a business.
A. Platform Funding looks more at the health of the business and the ability of your company to service the holdback % vs. evaluating credit or assets. Bad credit is ok! We realize owners have life events that come up that may negatively impact their credit score. Some of these events include divorce, sickness & medical expenses, bankruptcy, or inadequate accounting services. This shouldn’t prohibit you from obtaining capital you need to maintain or grow your business. Platform Funding will work through almost any scenario to get you funding in a fast & flexible manner that is customized to meet the needs of your business.
A. Unlike most funders we do not advertise get $250,000 in working capital fast. We are one of the best financing options for a business because of our progressive business funding we have funded advances from $1,500 to $3 million for our merchants. We encourage you to ask for references. Our satisfied clients are our best advertising.
A.We are as fast as your paperwork. From application to funding usually runs 3-5 days when we work with motivated merchants.
A. 70% of our clients had or have an advance with other merchant cash advance companies. Having premium pricing they recognize that we are super competitive and fair. As long as you pocket 50% or more of our advance we are happy to pay off an existing advance or any we are happy to pay off an existing advance or any other debt directly.
A. No worries, we can pay off up to 4 months in back rent and consider many other factors such as time in business and overall sales to compensate for Liens and Judgments.
A.Absolutely not, but over 75% of our merchants were currently with or switched to one of our preferred processors. Next day cash settlements and better rates and fees are a compelling reason to switch. However, if any circumstances prevent this, including merchants preference we have many alternative collection methods.