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Frequently asked questions

What are the requirements?
To process your loan application faster and smoother, we require the following information from you.

  • The completed application form
  • Your bank statements for the last three months
  • Updated bank statement of your business that needs funding
We need all of the details requested in the application form to better understand your business and your funding needs. This information will also help us ascertain specific facts which will allow us to take your application to the next stage of loan processing faster. Therefore, we request you to provide all the details we need, complete in all respects and accurate in every manner.
How long until I get funded?
As we have different loan instruments for various businesses, the time taken for funding varies from industry to industry and case to case. While some types of financing complete within a few hours or days, others may need a bit more time because of the extensive details and complexities involved.

Alternative Funding Group can generally fund your business within five working days if your application and documents presented are in order.
What are the payment terms?
We offer flexible payment terms. Depending on the type of loan you want to take advantage of you can pay on a daily, weekly, or bi-weekly basis.

With Alternative Funding Group, you can get a loan for your business needs quickly and start repayment based on your convenience.

In most cases, we allow early repayment as well, subject to specific terms and conditions. However, in some cases, we do not provide early repayment options to borrowers because of various factors such as the feasibility of the loan term, the interest involved, etc. Kindly check with our representative when applying for the loan whether your type of loan has an early repayment component.
What advances do you provide? LOC, Equipment financing, loan consolidation and capital?
We focus more on capital funding which allows businesses to meet their short-term and long-term funding needs. We also provide various types of financing based on the type of business, the industry in which it operates, the business model, etc. We have a flexible approach to funding and can explore various alternatives to ensure that your business gets the capital needed for its smooth operation for now and in the future.

LOC funding offers a preset borrowing limit that borrowers can tap into at any time. In contrast, loan consolidation funds allow you the convenience of making a single loan payment instead of several smaller ones. It can save you money in the long run as it is generally less costly than monthly payments.

We also offer secured loans. It is a good option for those who want relief from their existing fund constraints. Secured loans offer many advantages over unsecured funding options, such as lower interest rates and shorter loan terms.

Equipment Financing loans are secured loans made by the lender against their equipment that they can use and also resell. Because of this, the return on investment is high, and the process can be quick; Alternative Funding Group is willing to provide you fast financing.

A line of credit, or LOC, is an agreement you make with a lender to access funds up to a specified limit. The usual minimum limit for these types of loans is $25,000. It does not require repayment unless you use it. The best part? Line of credit loans do not have pre-payment penalties and can be paid back at any time without affecting your eligibility or rates on other lines of credit in the future.
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