Best Small Business Loans Speaks to Fora Financial
Best Small Business Loans is a website that educates people on the details of small business loans to help them choose the best option for their needs. We asked Shalva Alexander from Fora Financial about their company, the business loans offers, and services.
The Idea, Story, and History Behind Fora Financial
We did a little research and found out that you have been on the market for nearly 13 years now. Can you tell us a bit more about the idea, story, and history behind Fora Financial?
Fora Financial was established in 2008 by Dan Smith and Jared Feldman. Over the next 10 years, Jared and Dan worked consistently to build their staff and client base from scratch. Fora Financial has consistently developed transparent relationships with partners and clients to provide them with innovative and personalized funding solutions.
What Were the Challenges That you Faced When you Started the Company?
Founded during the Great Recession, Fora Financial made it its goal to help small- and medium-sized businesses thrive in that difficult time. We have been successful in that effort and to date have delivered over 45,000 individual transactions to more than 25,000 unique customers. Fora Financial has provided over $2 billion in working capital solutions for all types of small businesses since its origination.
How Do Business Owners Usually Use Fora Financial’s Merchant Cash Advance?
Business owners use funds provided by Fora Financial for a variety of purposes, from expanding operations to buying new equipment, hiring additional staff, filling inventory orders, and many more.
How Would You Recommend Small Business Owners Choose Between a Term Loan and a Merchant Cash Advance?
Each individual business owner makes his or her determination on what their business needs. At Fora Financial, we concentrate on providing businesses with working capital that allows them to maximize their potential.
What Types of Data Does Fora Financial Use When Approving a Loan Application?
How is it different from applying with a more traditional lender?
At Fora, we use many data points in making an underwriting decision. Each case is different, so our underwriting is looking to make a decision that reflects a business’s ability to grow and expand operations based on the funds that are made available while doing that in an expeditious timeframe that works for the business.
Fast Forward Five Years – What is Going to Change in the World of Small Business Loans?
It’s an ungrateful exercise to try to predict the future, but we are certain that in the future small- and medium-sized businesses can continue to count on Fora Financial to help them grow.
What Advice Would you Offer to Anyone Considering Taking a Small Business Loan?
The advice we would offer someone considering taking a small business loan would be to look boldly into the future and imagine their business expanding based on the decisions they make today.
Are There Any Other Points of Wisdom That You Would Like to Share With Our Audience?
What we would say is that while we can’t control what happens in the world at large, outside resources like Fora Financial can be a reliable partner to all types of businesses who want to help their customers, communities, and employees.