- Easy application process
- Cash advances
- Bad credit options
Easy Application Process
Wall Street Funding offers the ability for clients to get a quote within just two hours. Applying is completely free, and those interested are instructed to reach out to a Wall Street Funding specialist by phone. People and businesses can then apply online, or send an email to the company. The website does not explain if the phone specialists are certified with any organizations.
After the application portion is completed, applicants can get approved in less than 24 hours. For cash advances, the company has a 90 percent approval rate.
The company does not provide typical business-to-business loans, but instead offers cash advances. Based on business generated revenue, clients are funded from $3k-$500k. Once the client establishes a relationship with Wall Street Funding, and builds their business credit, some business can get funded up to $750,000.
The company boasts no upfront fees or compounded interest. Clients can potentially receive funding in as little as 72 hours, with no prepayment penalties. Businesses are more likely to obtain quick funding if they have a high sales volume and good bank statements.
Borrowers are free to use the funding in whatever way they choose, whether that be for inventory, advertising, expansion, paying off debt, for the payroll, or for renovation.
Little Business Experience Required
Conveniently, the company only requires client businesses to be running for at least 60 days before application. This is shorter than many small business loan companies in the industry require. The average requirement is sometimes around two years.
Wall Street Funding offers an advance with a fixed payback amount, and is not the typical lender. The New York company purchases a section of the business's future gross revenue receivables based on established parameters from Wall Street Funding consultants. Wall Street Funding charges an advanced amount and percentage that best fits the business's circumstances.
Bad Credit is Welcome
Unlike many small business loan companies, Wall Street Funding welcomes people of all credit scores. In-house Wall Street Funding financial analysts do check applicant credit scores, but the website does not advertise a minimum credit score requirement. Wall Street Funding uses its own unique underwriting process to offer businesses a way to get funds quickly, even if they are in debt or have poor credit history.
Clients with bad credit may even qualify for Wall Street Funding's financial aid. It should be noted that businesses must be making at least $10,000 in bank deposits per month, based on credit or ACH sales, to qualify for a cash advance.