Business Finance Disclosures & Your Bottom Line
The Small Business Finance Association (SBFA) and Kingsley-Kleimann Group recently released a qualitative research report regarding financing terms/disclosures and their impacts on target consumers.
The biggest takeaway? When it comes to financial disclosures, more information is not necessarily better.
Per the report's executive summary, "An effective [business finance] disclosure must not only present terms but must do so in a way that is understandable to target consumers."
What does this mean? It means business owners want to know the direct impact their MCA, loan, or other financial product will make on their daily finances without worrying about the "fluff." They want transparency about their repayments, and they don't want to get bogged down with details. At Elevate Funding, we aim to deliver just that.
We are as transparent and specific as possible when presenting funding offers to our merchants. We know that an informed business owner will make the best decision for their business. That's why we give full details on your bottom line and the everyday impact your MCA will have on your finances; this includes fees, overall cost of funds, and daily payment amounts. Better information beats more information every time.
According to Ken Peng, our Director of Business Development & Marketing, "All of our terms are clearly laid out in plain language on our offer sheets. This includes any fees, add-on qualifications, and payment amounts."
"We conduct welcome calls in which we explain all the terms of the contracts that the merchant signed, including the process and costs. We take any and all steps for our merchants to explicitly understand our product. We are extremely transparent," says Reynold Jackson, our Senior Underwriting Manager.
At Elevate Funding, transparency and honesty are at the core of what we do. When you select us as your funding provider, you are placing a safe bet on your financial future.
If you need funding and wish to speak to someone now, please call us at 888-382-3945 or click here to send us an inquiry. One of our teammates will get back to you as soon as they are available.