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Direct Funder, a New Capital Platform, Makes It Easier for Start-Ups to Launch Their Businesses
PHOENIX, AZ --(Marketwired - March 09, 2016) - Small business owners face challenges obtaining needed funding to capitalize their start-up businesses. A new capital source, Direct Funder, has been established to overcome this problem for start-ups and existing small businesses with expansion plans, especially targeted at the Vietnamese business person.
Lack of funding is a major cause for business failures. Unfortunately, the US banking community does not commonly provide small businesses, particularly start-up ventures, with capital to start a business. If a small business is fortunate enough to get a loan from a traditional bank, it is because the business owner has demonstrated past performance in sales, longevity and consistency in bank balances.
According to Duc Nguyen, founder of Direct Funder, "Our new Direct Funder platform is here to change the rules of the game. We want to provide the small business start-up with the fighting chance they need to make their dreams come true. Most good ideas never get off the ground because they simply didn't have the start-up capital to launch." Nguyen realizes that management has a lot to do with business success, but stands firm that without adequate start-up capital, a small business is at a strong disadvantage. They need money to market their products and services -- either to launch or to expand.
The Direct Funder Program differs from other programs such as SBA Loans, in that its lenders do not require collateral, cash flow, proof of income, or even a business plan. Direct Funder simply requires a decent credit score to demonstrate fiscal responsibility. In fact, the program charges "zero interest" for the first 12 months to give the business owner a running start.
Nguyen continues, "We usually find the capital through our affiliate partners. That means a loan of from $50,000 up to $250,000, depending on the small business owner's payment track record and credit line ratio. He explains, "As soon as we get the application filled out, we strive to get approval within 48 hours. With an approval, we generally are able to get funding to our clients in as little as ten business days from the date of approval."
Most Common Uses for Start-Up Capital:
When asked why Nguyen is targeting the Vietnamese market, he states, "First of all, I am Vietnamese, I speak fluent Vietnamese and second the Vietnamese people in my opinion are some of the most entrepreneurial people that I know. I know the culture. They came here for the American dream. I believe that to fulfill that dream, it starts with business capital." Nguyen is launching a new website specifically for the Vietnamese entrepreneurs at: TaiTroVon.com, whom is an affiliate of Direct Funder. TaiTroVon in Vietnamese means Startup Capital Funding.