Updated: May 5, 2021
Funding to a business is like oil is to a car. The car will only go so far before the engine gets so hot that it cannot run anymore. Without money, your company can only go so far.
Of course, there are the obvious ways to fund your project. You’ve probably read about them many times. Sometimes they are successful so I would urge you not to overlook any of them. They include crowd finding, grant funding, small business loan programs in many larger cities, SBA loans, and both governmental and non-governmental programs.
I want to tell you about what I have found to be the best way to get funds after each of these have been tried and been found to have been too lengthy, too document heavy, to just plain too complex to get through easily.
I’m talking about alternative funding offered by LaunchPad Café that is not dependent on credit, income, current tax returns, employment or any of the other variables about which conventional focus upon.
I’m talking about one particular aspect of your loan application process. The basis for this type of funding is easy and as such, you can have a preliminary answer within a day or two typically. The LaunchPad small business funding program is useful for loans to:
Businesses that need to resolve existing debt quickly.
Special purpose funding needs to produce a large order.
Debt resolution needs to pay down or pay off an existing debt at a discount.
Special opportunity funding that will allow businesses to acquire a property quickly.
Special industry funding (we develop funding programs that are focused on the needs of the industry’s cash flow disparities.
Funding for large orders.
Funding for companies who have too much of their funds in accounts receivable with little left over for operations.
And so on….
The distinguishing characteristic of our LaunchPad funding is that our loans can be made without regard to the items typically reviewed in the file of a commercial bank. Our primary focus is on the security for the loan. Our philosophy is that if a bank makes you a loan, their only success is measured by the amount of fees that they make and the repayment of their loan without problems.
LaunchPad loans are focused on how safe our loans are. Because we are not reviewing the borrower, we don’t know whether or not they are good borrowers; have a history of defaulting; nor have good, bad or indifferent credit.
Because the security of our loans are our primary review, the process can be completed quickly with a concurrent fast loan commitment, and thereafter comes a fast closing.
Our loans could be called bridge loans, or gap funding or anything else that indicates that they are not meant to be considered to be long term. While it isn’t uncommon that our loans are built on one year at a time loans, we have had loans on the books for 8 years. In this case, it was just easier to renew our loan each year for this borrower than it was for him to walk into a bank and to have to put up with their loan application process.
Our typical loan is written for one year and no penalty for its prepayment ever. Therefore, many people make use of a loan like this in order to stop the hours and hours of aggravating paperwork, validations, business plan submission, use of proceed validations, and choose just to keep their loan in place as a happy lender.
You are invited to reach out to us to find out more.
Best regards, Stephen Replin, CEO,
LaunchPad Café, Ltd. 1660 South Albion St., Suite 1007 Denver, Colorado 80222 SteveReplin@LaunchPadCafe.net