Speedy Business Funding has announced their SBA loan pre-approval program in the face of upcoming changes to funding requirements.
-- Speedy Business Funding, a Speedy Holdings Group company (SHG), has made this announcement ahead of upcoming changes to the federal-level SBA loan program, most of which will make it more difficult and time-consuming for small businesses to secure funding. To counter these changes, Speedy Business Funding is prepared to assist as many small businesses as possible before the June 1st deadline.
Get more information at https://speedyhg.com
The upcoming changes may present unique challenges for small businesses nationwide, given that over 100,000 businesses applied for funding through the program in 2024. While the federal program may not survive much longer, small businesses can still apply for and secure funding any time before June 1st, and possibly even after, depending on the specifics of the business itself.
Through this exclusive SBA service, Speedy Business Funding is authorized to issue pre-approvals for funding up to $500k. The application process typically takes 5-10 minutes, and a decision regarding pre-approval is typically issued within 2 hours, compared to others that take 2-3 weeks with other providers that require full financials to even apply. Actual time of approvals with Speedy depends on the volume of requests and accuracy of submitted information but the process is speedy fast just like their name states.
Scott Clymo, the CEO and Founder of SHG and the architect behind this new program, said they have a team of 75 skilled underwriters available to offer fast turnaround times for pre-approvals with full terms within 2 hours. They have also lowered their credit criteria following this launch to make the approval process easier for businesses in immediate need.
All SBA loans issued through this new service are 10-year loans with a fixed rate of between 2.5 and 6% over prime rate, depending on perceived risk and other factors.
A spokesperson explained: “We help small to medium size businesses compete with the retail giants in their particular industries by offering products and services that excel beyond what most retail giants offer and at more affordable pricing. We do this by grouping together individual businesses to equal or exceed the business volume of the large retail giants to give the small-to-medium size business a distinct competitive advantage.”
In addition to this program, Speedy Business Funding offers a wide range of services to assist mid-market businesses. Their overall mission is to reduce the time required for those businesses to secure essential financial services such as startup funding or credit processing services.
Those interested in applying to this new SBA funding program should visit the link below for more information.
Learn more at https://speedyhg.com
Contact Info:
Name: Scott Clymo
Email: Send Email
Organization: Speedy Business Funding
Address: 65 East Nasa Boulevard, Melbourne, Florida 32901, United States
Phone: +1-888-318-2986
Website: https://www.speedyhg.com
Source: PressCable
Release ID: 89160032
In case of identifying any problems, concerns, or inaccuracies in the content shared in this press release, or if a press release needs to be taken down, we urge you to notify us immediately by contacting error@releasecontact.com (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). Our dedicated team will be readily accessible to address your concerns and take swift action within 8 hours to rectify any issues identified or assist with the removal process. We are committed to delivering high-quality content and ensuring accuracy for our valued readers.
