SkyBridge is a business financing company that offers several types of loans. With no minimum FICO credit score, they are one of the most open business lenders. The company is known for fast loans given to a wide range of companies. So, how does SkyBridge Business Funding compare to other options?
SkyBridge Business Funding can provide merchant cash advances (MCAs) to many businesses. Still, they focus on two main groups: small businesses and businesses that need cash fast. Small businesses can enjoy personal service and small SkyBridge business funding options. Also, any business that needs funds for an emergency can get a loan fast.
SkyBridge Business Funding: Features
Speed
Many online lenders can get you a business loan in one business day. SkyBridge business funding takes it a step further with a commitment to 24-hour financing times. So, you can always expect fast service if you choose SkyBridge Funding.
Flexible Requirements
SkyBridge Funding is one of the most accessible options for MCAs. While their pre-qualification process requires you to tell them the purpose of taking the advance, you can use it for almost anything.
Also, the requirements for SkyBridge Funding are lax, which we will get into soon.
No Collateral
You do not need to put up collateral to get an MCA from SkyBridge Funding. This makes their funding options less risky.
Personal Assistance & Customer Support
SkyBridge Funding puts more work into customer service than most online lenders. Their staff is available to walk you through any questions or concerns you have. They also match you with a loan adviser who will walk you through the borrowing process. They guide you from start to finish before you take a loan.
If you have any questions, you can reach customer support professionals by phone or email. They can also be reached on many social media platforms including:
Pricing & Terms
The only SkyBridge business funding option is a merchant cash advance. You can borrow any amount ranging from $5,000 to $500,000. They will only approve you for the higher sums if your business finances justify it. Also, your credit score must be a bit higher. MCAs of $10,000 or less are given out more liberally and are often managed with an automated repayment solution.
Unfortunately, SkyBridge Funding does not make its rates public. As an MCA provider, they are less obliged to share their APRs. Of course, MCAs are given out on an individual basis and different borrowers will get different rates. Higher credit scores and more stable revenue streams can qualify you for better rates.
Do I Qualify For SkyBridge Business Funding?
SkyBridge Funding is one of the most lenient lenders we will cover. Well, at least when it comes to credit score requirements. They have no minimum credit score requirements and they don’t even deny borrowers based on previous bankruptcies. But, their revenue requirements are not the lowest you will find for an MCA provider.
The only requirements for SkyBridge business funding include:
- At least six months in business
- A minimum revenue of $15,000 per month
Factors To Keep In Mind
Cash Flow
MCAs like the ones provided by SkyBridge Funding take automatic repayments. You need to be aware of how they will affect your future cash flow before you take a loan.
The good thing about MCAs is that they take repayments in fixed rates. So, if your revenues go down, your repayments will be smaller. In either case, you will be repaying the MCA provider until the balance of the advance is paid back. So, you’ll need to make sure you can afford the advance beforehand.
The Last Word On SkyBridge Business Funding
If customer service is important to you, SkyBridge Funding will not let you down. The company provides more personal service than most of its competition. Their mission is to make sure you’re never at all confused about what their MCAs are and how they work.
When it comes to rates, they do not provide much information. MCAs are typically an expensive option, so you should make sure you look over your offer closely before accepting it.
If you’re a small business owner that can’t get accepted elsewhere, SkyBridge Funding can help you out. The same can be said if you just need business funding quickly. In either of these cases, they are worth a closer look.
