What’s holding you back? Are you experiencing challenges with business growth in 2023?
Don’t worry, you are not alone. Many business owners are operating with a wait and see mentality with a variety of industries experiencing economic headwinds that are impacting business results. Whether your clients payments are delayed, causing disruptions in revenue and cash flow, or you have a project awaiting funding to take flight, Coast provides customized financial solutions to bridge these gaps and propel your endeavors forward.
When it comes to applying for financing, many business owners need a gentle nudge to take the first step, especially in the current environment. Here are answers to some of the most common concerns we encounter daily:
“I don’t want my credit pulled”
- There is no hard credit pull when applying with Coast Funding. You can apply with confidence knowing that there will be no negative impact to personal credit. Another concern clients have is that their personal credit might be challenged or look overextended because they are leveraging their personal credit to finance the business. We have a variety if different programs to cater to the full spectrum of client qualifications. Does the business owner qualifications have some bearing on the programs available, for most of the programs yes, but don’t let your personal credit profile deter you from applying and seeing what you qualify for.
“Aren’t these programs expensive?”
- Many business owners have the perception that any program that isn’t from their bank is expensive. While historically alternative funding products generally have been more expensive than traditional bank financing, in the current environment the gap has been narrowed immensely. Most financial products from mortgages to auto loans to credit cards have seen a significant increase in borrowing costs and interest rates over the last 2 years. In the alternative funding market, cost of capital has been relatively steady as the industry is not impacted by the volatility within the broader financial market like your traditional bank or financial institution.
“I don’t have time”
- In life and in business, time is the more precious resource and wasting time is not an option on the path to success. Our application takes about five minutes to complete, can be completed online or over the phone, and only the last 4 months of business bank statements are needed to see what you qualify for. Most applications are approved within 24-48 hours and funds can be available the following business day post approval. We are here to guide you through each step of the funding process and get your transaction funding in the most streamlined way possible.
We understand that taking the first step can be uncomfortable. If you have questions, or want to discuss further, please reach out any time. The relationships we create with clients like you remain our most valuable asset. We will take the time to understand your needs and what you are looking to accomplish to help arrive at the program that suits your business best.
