NEW YORK, Oct. 28, 2016 (GLOBE NEWSWIRE) -- 800fund.com, LLC, one of the nation’s fastest-growing alternative funders to small- and medium-sized businesses, today announced an immediate investment of $1 million towards acquiring producing funding specialists.
The signing bonuses will be allocated in increments of up to $50,000 per funding specialist, in an effort to aggressively expand the company’s already experienced sales team.
The company is seeking added funding specialists to facilitate the growing demand for its cash advance and working capital programs, which has made it a leader in the alternative lending space.
Merchants are finding the fast funding options offered by alternative lenders like 800fund increasingly attractive. “SMB’s are seeking new short-term loan facilities while renewing existing relationships,” said a FinTech industry veteran. As a direct lender, 800fund is expanding its service offerings to new industry verticals as well.
Increased industry demand is fueling 800fund’s aggressive recruiting effort. “We’re making cash advances and working capital for small and medium businesses more affordable, and making our business more sustainable,” said a company spokesman.
800fund provides alternative financing for expansion, working capital for inventory, business loan alternatives for construction, capital infusion for marketing, business loan consolidation, invoice factoring and purchase order financing for business operating in retail, mobile and online environments.
800fund has emerged as one of the industry’s most innovative funders, introducing a variety of products and services to meet heightened demand, including its rebate program, in Q2 of 2016. The widely successful program has slashed costs on short-term business loans, driving the rates to as low as 10%. In addition, 800fund has begun financing startups and tech companies.
800fund is also expanding into higher risk financing, including automotive, travel and jewelry-related industries. The new verticals will provide financing opportunities for service-based businesses, luxury retailers (including jewelers), and a variety of other businesses that have traditionally been unable to obtain business loans or other financing.
About the Company:
800fund is a leading merchant cash advance and short-term alternative lender to small- and medium-sized businesses. It is headquartered at 30 Broad Street, New York, NY, and has a number of affiliate offices throughout the US and abroad.
30 Broad Street, 28th FL.
New York, NY 10004
T: (212) 865-3863 │ F: (800) 908-8550
Products and Services Offered: Merchant Cash Advances, Working Capital, Alternative Financing, Business Loan Alternatives, Short-Term Financing, Invoice Factoring, Purchase Order Financing.