Raleigh, North Carolina--(Newsfile Corp. - March 26, 2023) - VIP Capital Funding, a leading Fintech company in the United States, announces a record increase in performances of businesses that have availed working capital loans ranging from $50 - $15MM. The loan was designed by the Fintech firm for ventures facing financial challenges to enable them secure sufficient funding for multiple purposes like expanding business operation expansion, purchase of new equipment, additional staff recruitment and others.
Photo: Joshua Triplett, Owner and Executive Principal Managing Partner
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Joshua E Triplett, the Executive Principal Managing Partner of VIP Capital Funding, said: "This increased usage of our working capital loans is owing to its tailor-made, flexible features and a transparent policy. We evaluate a client's business performance based on its 3 - 6 months' bank statements, which eventually makes credit score a minor requirement."
Mr. Joshua E Triplett further added that the minimum qualifying credit score for the business loan is 590. The entire evaluation to approval and funding process takes approximately 24 to 48 hours for the Fintech firm, which ensures that businesses access the money they need in time. The financial company have an approval ratio of 95% and requires at least $50,000 as an average monthly deposit.
A recent survey conducted by VIP Capital Funding revealed the reasons behind this acceptance, the first being cash flow management. The financial product reportedly helped businesses manage on-time bill payments, employee salaries, costly penalties and even unexpected expenditure, especially during and post pandemic.
Mr. Joshua E Triplett said, "Discounts of 10% to 35% are applicable on prepayment to make the working capital loan repayment convenient for borrowers. We impose less stringent terms of repayment schedule which allows businesses to customize the credit as per their requirements. Zero prepayment penalty is available for borrowers to save significantly in the long run."
Elaborating on the necessity of this small business loan, Mr. Joshua E Triplett, also the founder of VIP Capital Funding, highlighted the benefits of availing credit to stay agile yet adaptable during tough economic times. "Our product provides a safety net during lean times along with the financial stability needed. This working capital solution aims to assist businesses in achieving their maximum potential."
The loan features 100% interest forgiveness, which borrowers can take advantage of by refinancing after 50%. The company explained the calculation through a loan example. If a funding amount of $500,000 for 15 months of loan term with a total payback of $625,000 is considered, the borrower would enjoy 25% interest forgiveness for an early payment.
Customers are taken through a minimal application process with documentation including DocuSign application and business bank statements of last 3 months.
VIP Capital Funding's financial officers with 5 to 30 years of experience are available to provide customized consultation process and assist clients in making informed financial decisions. The consultation process has been designed to be both fast and free, with no additional costs levied to receive valuable insights.
About the Company
VIP Capital Funding is a financial company founded by Joshua E Triplett and headquartered in Raleigh, North Carolina with offices based in Dallas, Texas and San Diego California. It predominantly offers Economic Injury Disaster Loan, working capital loans and other products to businesses from diverse industries. With a competent team of 50+ members, the firm focuses on fast approvals and funding to support businesses in achieving their goals and driving growth. The company extends its products in 50 states with a mission to facilitate adequate finance through nominal documentation and a hassle-free procedure.
Contact Details:
Joshua E Triplett, Executive Principal Managing Partner: LinkedIn and Twitter handles
VIP Capital Funding:
Website: https://vipcapitalfunding.com/
Office Phone: 800-735-7754
Carlos Hernandez, Senior Vice President
Direct: 919-300-0203
Email: carlos@vipcapitalfunding.com
James Jones, Senior Funding Manager
Direct: 919-300-5906
Email: james@vipcapitalfunding.com
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