The transformation of Alternative Financing and its move to the mainstream Jim Fink Director of...
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Transcript of The transformation of Alternative Financing and its move to the mainstream Jim Fink Director of...
The transformation of Alternative Financing and its move to the mainstream
Jim FinkDirector of Strategic Partnerships
RapidAdvance
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Alternative Financing
Where is the industry?
Smart Money
Wall Street
Traditional lenders
Growth
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What We Do
RapidAdvance supports
acquirers, ISOs/MSPs and their small business customers by providing convenient, and frictionless financing solutions.
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Company Highlights
Founded in 2005 - headquarters Bethesda, MD
Acquired in 2013 by Rockbridge Growth Equity, LLC Rapid is part of the Rock Ventures family of companies.
Unique access to best practices, technology and resources
BBB accredited and A+ rating
National Small Business Association endorsed
Heavy focus on lower middle market and small business owners
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How We’re Doing
$700 million funded to date
Financed 31,000 loansfor small businesses
Average customer completes 3 transactions over 1.5 years
75% of those eligible choose to renew with
RapidAdvance
Marketing at work for you: Over $2 million in 2014 invested in national advertising
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National Broadcast Media
TVRadio
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Customer Profile – By Industry
39%
27%
10%
9%
5%
5%
3% 2%
Restaurants
Retail
Personal Services
Miscellaneous Services
Health Services
Construction and Contractors
Business Services
Transportation Services
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Top 10 States
CATXFLNYPAILOHGANJMINC
11.23%9.17%7.95%6.79%4.02%3.90%3.55%3.26%2.95%2.85%2.83%
West
23%Midwest
18%South
39%Northeast
20%
Customer Landscape
Typical Customer Challenges
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Unexpected opportunity
Cash flow timing
Expansion or growth
Inventory build-up
Customer has immediate funding needs:
• Timing is everything – usually need turnaround within 7 days
• Majority of applicants want < 100K
• Minimal paperwork desired
• Last few years have left them discouraged about getting credit
• Harvard Business School Report notes small business loans on bank balance sheets are down 20% since the financial crisis
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RapidAdvance Product Overview
SBA Bridge Loan
• Meet short-term funding needs during bank and SBA approval processes
• Eliminate obstacles to expedite SBA approval
• Pay tax and other past-due obligations
Lines of Credit
• Offers flexibility in funding amount and duration
• Draw funds only when needed
• Flexible repayment terms
Up to $500,000.
Decisions within 48 hours.
MultipleSolutions.
Flexible terms.
Small Business Loan
• Perfect for businesses looking for a traditional loan – and need it now
• Short-term payback – up to 12 months
• Automatic daily payments and easy to renew
Business Cash Advance
• Innovative, unsecured financing for businesses that accept credit cards
• Repayment from future credit card receipts
• No need to switch processors
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Benefits for the Agents
Retain merchant’s processing account
Earn substantial income upfront
Cross-sell opportunity
Gain advantage with additional products
Acquire more customers
Become a trusted advisor
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Advantages of the RapidAdvance
EASY FAST RESPONSIBLE AVAILABLE
Receive capital in 3 days!
Higher approval rates than banks
Dedicated Senior Account Executives
Credit card/revenue based financing
Multiple product offerings
Unsecured capital
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Please type them into the chat/questions box or
reach out to us after the call.
Jim Fink
240.233.4092