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One thing that sets alternative lenders apart from the banks where a business holds their business checking accounts, is the speed that they can process an application for business funding, review it, and get working capital into a business owner’s hands.

A question we hear on a regular basis is, “How can you be so fast?”

Which is kind of like asking, “What’s your secret recipe?”

Well, we can’t give away our whole recipe, but we can tell you the ingredients we use to make funding simple and fast for business owners looking for working capital.

Our speed has a lot to do with our commitment to streamlining and simplifying a process that banks haven’t changed for decades, unfortunately for business owners looking for short-term capital.

We understand that the nature of running a small business doesn’t always mean you have the time to plan, prepare, and plot out your growth and your sources of capital several months in advance. When you have the time to put into applying and waiting for a response (and solid personal and business credit), a bank may very well be a better option for you.

But if speed and simplicity is a major concern of yours and you need money for something more immediate, like delayed receivables, payroll, or to bridge a cash flow gap, it’s helpful to understand how we’re able to be so fast and how that can benefit your business.

Simplifying the application process

We typically require less documentation than a traditional bank and can often start processing an application with a business owner’s full name, business name, income information, Social Security number, and tax ID number. Simple application = faster processing.

Technology enables fast approvals

We use technology to automate parts of the application process so business owners can get timely decisions, making it much faster than a traditional bank. Whether you’re providing information to a Business Funding Expert over the phone, through our website, customer portal, or mobile app, technology plays a key role in speeding up your application and approval.

But it’s people who are moving things along

At every point in the process, from the Business Funding Expert who helps you over the phone to the Underwriters who take a closer look at your business information to the Funding Experts who review your application one last time before wiring funding into your account, there are people adding their expertise and insight. We’re not replacing people with algorithms to make things go faster. We use technology to give our team the most effective and efficient tools for them to do their jobs.

That’s great, but what does it mean for me?

It means you can spend less time acquiring funds and more time putting them to work for your business. From application to cash in your bank account, things move quickly. We have a slight obsession with speed, but getting things done quickly doesn’t mean that we’re sacrificing quality. We want you to get the service and the funding you need. That’s why we’re committed to keeping people in the process.

Sure, we’re fast. Because that’s what businesses require when it comes to short-term working capital — a quick response to an immediate need.

Our mission at Swift Capital is to unleash the potential of every small business by providing them with fair and convenient access to working capital. We harness data and technology alongside personalized human expertise to see the true potential in every business. Did you like this post? Tell us what you’d like to see on our blog. Email us at newsletter@swiftcapital.com.

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