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06-27-2014, 10:51 AM #11
Realistically how quickly, from start of application to funded? If it is quickly compared to an SBA, that is much different than the speed allowed by short term funding. As with Nathan's example, said merchant would need that money in a few days. This is something a short term advance could accomplish easily, whereas even if the longer term product takes 10 days it may be too long. By nature the underwriting process has to take a little more due diligence since they need to be a more qualified client to get these longer terms, so it seems as if the advantage would still go to the short term advance in this case. Am I wrong in this?
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