Amidst the coronavirus’ deadly impact on the global economy, VIP Capital Funding offers their incessant support to several businesses nationwide. The leading fintech company facilitates and accelerates EIDL funds and Merchant Cash Advances to small and mid-sized businesses.
These financial products are offered by their adept team of experts under the judicious leadership of the company’s CEO, Mr. Joshua E Triplett. Together, they help speed up the growth and cash flow of small and mid-sized ventures through simple and consultative approaches.
How do EIDL funds help small businesses?
According to the CEO, “Economic Injury Disaster Loan or EIDL funds benefit businesses in various sectors, including working capital, inventory, material, payroll, etc.”
“It also includes financing business owners with MCAs or Merchant Cash Advances. These financing solutions aim to serve as a symbiotic and mutually beneficial combination for addressing working capital needs during these uncertain times,” added Mr. Triplett.
How MCAs promise to provide incredible financial support?
VIP Capital Funding helps company owners by understanding their needs first. Following this, their experienced consultants provide the most suitable suggestion to owners for taking advantage of the capital by making a bulk purchase at a discount and using the MCA funds as a bridge before the EIDL advance is sanctioned.
It is to be noted that MCA is a revolving capital designed to mutually benefit all parties involved. Owing to the total capital sanctioned, MCAs shall prove advantageous in covering owners’ previous as well as future MCA debts, while businesses await EIDL funds. The fund is designed to help with bulk discounts for inventory, material, marketing, etc. It furthermore offers tax benefits and negates the cost of the capital with prepayment discounts.
VIP Capital Funding additionally provides one of the fastest approvals within 24 to 48 hours. The repayment period depends on the owner’s turnaround on investment to make profits.
Can this be explained with a case study?
Two excellent examples by Mr. Joshua E Triplett explained the benefits clearly. If a business owner commits an investment that has a turnaround time of 3 months to make a profit, it would be profitable for him to avail a 5 to 6 months’ term. Also, the amount depends on the business’ cash flow instead of the credit score. Similarly, repayment tenure of 8 to 10 months would be ideal for a 6 months’ turnaround time to make a profit.
How does MCA score better than traditional loans?
Business owners usually believe that bank loans are the best possible options, which is not always the case. Traditional loans come with several stipulations and take 30 to 90 calendar days for approval.
If statistics are considered, business owners stand about 5% of approval chances only, following a lot of wasted time, effort and energy. MCA funding brings around 90% of approval chances if business owners are doing at least a $25,000 monthly deposit and hold a credit score of at least 590. VIP Capital Funding sanctions the finance incredibly fast.
Again, some of the difficulties with traditional bank loans are a significant amount of approval time, low chances of funding, prepayment penalties, etc. For instance, a business owner is approved at a 5% chance for 3 – 5 years along with the time required for a traditional bank loan at $100,000 - $200,000. As he utilizes all the funds, there will be prepayment penalties and no renewal.
Contrarily, if owners take an MCA at $100,000 - $200,000 for 3 to 6 months from VIP Capital Funding, they can repay the loan with no prepayment penalties and enjoy prepayment discount benefits. The fintech company will help ensure the advance gets renewed once the owner is ready to re-invest for his capital needs.
What is VIP Capital Funding’s suggestion to its customers?
VIP Capital Funding strongly recommends business owners make their decisions based on ROI or Return on Investment and ensure that they make a profit. Promising to be a reliable fintech firm, they want to make sure that every capital infusement is beneficial for all the parties associated. This approach will simultaneously help the company retain several long-term customers successfully who do anywhere from $200,000 to $30,000,000 annually.
What is VIP Capital Funding?
VIP Capital Funding is a reputed fintech firm with 20 exceptionally proficient financial consultants. The company is dedicated to providing and empowering small businesses with intelligent financing solutions. They are renowned for offering innovative products and services, fast processing of funds and building long-term client relationships.
Contact Details:
Joshua E Triplett: LinkedIn and Twitter handles
VIP Capital Funding:
Website: https://vipcapitalfunding.com/
Office Phone: 800-735-7754
Email: [email protected]
Carlos Hernandez, Senior Vice President
Direct: 919-300-0203
Email: [email protected]
Cheynne Chong, Senior Finance Director
Direct: 919-521-8451
Email: [email protected]
Kenneth Lewis, Chief Financial Officer
Direct: (725) 212-1278
Email: [email protected]
