In a Nutshell
- Same-day approval and next-day funding
- No prepayment penalties
- Funding Playbook for easy comparison and understanding
- Max limit is $300,000
- Cost of working capital
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||6 months - 10 years|
|Best for||Small businesses, Immediate funding needs, Bank declines, 3-months or more in business, and startups|
You might recognize the name First Down Funding from the popular advertisements featuring several well-known athletes, including New York Jets linebacker CJ 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 celeb endorsements, First Down Funding is a popular option for business funding. First Down Funding has been featured in Forbes Magazine, Yahoo Finance, Sports Illustrated and has an A+ Rating with the BBB and Verified within Dun & BradStreet. First Down Funding has been funding small businesses dating back to early 2012, and has continued to grow every year because it offers a vast selection of funding options, flexible terms, and works specifically with small and medium-sized businesses.
Why First Down Funding Is Good For Your Business
First Down Funding is specifically geared towards helping small businesses get a loan. It offers a variety of funding options that SMBs and medium-sized businesses can use for things like purchasing equipment, expanding their business, launching a new advertising program, refinancing existing debt, or other business expenses that require day to day working capital.
What’s more, First Down Funding is a good solution for SMBs and startups because you can prequalify online with a soft credit pull, get same-day approval, and get funding within 24-72 hours. Here are a few more reasons you might appreciate a small business funder like this one:
- Plenty of options
From working capital funding to long and short-term funding, First Down Funding has a big selection of funding options for businesses. Which ones you’re eligible for and how much you can take out will depend on your business history and other factors. But there are a lot of options regardless of your status.
- Unsecured funding
Another reason First Down Funding is a popular choice is that it offers unsecured business funding. Most lenders require you to put down some sort of collateral to secure your loan. This way, in case your business venture doesn't work out, the lender still gets paid. First Down Funding offers cash advances and working capital for businesses without any collateral. This is particularly attractive to startups that don't really have anything to put down.
- Working capital
In addition to the range of funding options, First Down Funding has working capital that is available quarterly and monthly. Basically, as long as you are paying it back responsibly, you can get continuous funding for your business.
Most of all, First Down Funding is good for newer businesses because of its unconventional approval process. Rather than looking exclusively at credit scores, First Down Funding looks at your business plan, potential, other assets, and more factors to decide the approvability of your business.
First Down Funding offers multiple funding options for over 300 different industries, from small business loans for restaurants to working capital for auto shops, and more. First Down Funding works with small and medium-sized businesses. It also funds startups that have been operating for at least 100 days and have a minimum of $4,166 in monthly sales. You can get small business funding in exchange for a fixed amount of future revenue ranging from $1,000-$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
- No prepayment penalty
- 1-10 year repayment plans
- $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 has an online application process that can be completed in under a minute. What’s more, First Down Funding offers same-day approval and funding within 100 hours in most cases. Here’s how it works in a nutshell:
- Apply online
The online application takes about 1 minute to fill out. Be sure you have everything you need to apply for a business loan ready to minimize the amount of time you have to wait for approval.
- Speak directly to a funding specialist
A funding specialist will help you decide which funding options are best for your business situation. You can decide which one you'd like to take.
- Get funded
First Down Funding offers direct deposit usually within 24-72 hours from approval.
Before applying, make sure you have all of the basics, including:
- Last three (3) 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. So, it's a good option for SMBs that just need a little extra cash flow to get through the month. On the other side, First Down Funding has a max limit of $300,000. This is a lot of money for small businesses. But if you're a heavy-lifter, then this max limit may be below your paygrade. How much you are able to borrow depends on what type of funding option you're looking into, as well.
First Down Funding offers flexible funding options. You can get repayment terms that range from one year up to 10 years. What's more, First Down Funding does not charge any prepayment penalties if you want to pay back your funding account in full earlier than the agreed-upon date.
Your rates will vary based on several factors, but First Down Funding business funding generally come with an APR of around 10%-25%. What your exact rate will be depends on how long you’ve been in business, your credit score, the amount of valuable assets your business has, etc. According to First Down Funding, capital starts at $9 to every $100 purchased, and it can go as high as $36.
How Safe Is It?
First Down Funding is a solidly-backed lender. For one thing, it 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 an army of five-star ratings from customer reviews. Additionally, First Down Funding uses manual and technological safeguards to secure and protect personal information on the website.
Help & Support
Support isn't available 24/7, but it is there every day of the week, which is more than can be said for other business loan providers. You can call them at one of the many toll-free or local numbers. Alternatively, you can send an email to the email address below or fill out the online contact form on the website.
Monday-Friday: 8 AM-8 PM
Saturday: 8 AM-4 PM
Sunday: 9 AM-1 PM
First Down Funding offers much-needed funding 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 even has special business loans for women-owned businesses.
27 Maryland Ave
Annapolis, MD 21401