Orlando-based Fairfax Funding, LLC., a growing alternative funding brokerage, recently announced that it has forged agreements with several private lenders to make available up to $150 Million in working capital, including lines of credit and other types of financing, to small and medium-sized businesses that are based in Florida. The arrangement, called “Grow Forward”, comes from Fairfax’s own relationships with numerous private lending companies, and should help to provide easier access to capital, for entrepreneurs and small business owners across the state. Companies with annual gross revenues of $80,000 and up are eligible to apply for funding, with loan amounts that range between $10,000 – $2 million. Startups with little or no revenue will also have access to up to $250,000 in capital. The provision for startups is a major break for entrepreneurs, who typically have a hard time with securing adequate capital to get their projects off the ground, and may not be able to meet the revenue requirements of more established businesses. “We are very excited at the many opportunities that are now open to small businesses, in terms of their ability to now easily and quickly secure funding for their businesses and projects, especially at a time when most banks do not do small business loans”, says Courtney Smith, Fairfax Funding’s President.
With the Grow Forward program, Fairfax Funding’s goal is to eliminate the red tape and burdensome requirements that makes the typical loan process more cumbersome and frustrating than it needs to be, while ensuring that businesses have the funds that they need to operate, grow and succeed. “Most business owners get funded within a few days from the time that they apply, and most people are in disbelief when we tell them that there is no collateral required, and a bad credit score may not prevent them from being funded. We work with everybody”, Smith said. Funding is open to any company legally operating in the U.S. that may need short to medium term financing, including single-person mom-and-pops, and covers a broad spectrum of industries and business types. The company projects $25 million in completed funding for small business by the end of 2017.
For more information, one the Grow Forward program, visit the Fairfax Funding website at www.FairfaxFunding.com