Crowd Financing

Get the Capital You Need to Grow

Get the Capital You Need to Grow

Big banks aren’t interested in making loans under $200,000.  Through Crowd Financing, Investors have found a better way to put their money to work. First Financial will connect you with the crowd financing you need to build your business.

Crowd Financing – What to Expect

Loans can range from $20,000 to $200,000, over 1 to 5 years, with interest rates ranging from 7% to 19%. The actual interest rate is determined by open bidding in the marketplace which is highly influenced by your past operating history and creditworthiness.

Crowd Financing for Franchises

Financing the purchase of a franchise concept?  You may not need any operating history to qualify if the franchisor meets our crowd financing guidelines.  Contact us today to review your options.

crowd financing - first financial

Tradition meets the internet age

It wasn’t uncommon some time ago to borrow money for your business from friends, family or business associates and create an agreement for repayment.  With traditional bank financing not always being the best option, crowd financing can fill that gap.  Borrowing money from individuals in a structured and orderly way by leveraging the internet allows the tradition of private investment to carry forward.

Crowd financing is a win win for investors and borrowers.  There are close to 30 million small businesses with under 500 employees in the U.S. and they are critical to the health of our economy.  Small businesses account for 99% of all business and crowd financing is here to help them succeed.

What can you do using Crowd Financing?

Hire additional employees and expand your business.  A majority of private sector jobs are created at the local level by entrepreneurs like you.  Crowd finance your sales and marketing efforts to boost your business.  Open your second or third location and secure your financial future.  Our crowd financing investors are not just loaning money, they are investing in you!

Ask the Experts at First Financial – Email or Call Today

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Specific Questions

Crowd Financing FAQ

  • Amount – $20,000 to $200,000.
  • Term – 12 months to 60 months.
  • Repayment – Monthly principal and interest payments back to investors.
  • Security – Personal guarantees from director/owner and may also be secured by assets or property.
  • Contact First Financial by email or phone to start the application process.
  • You will be asked to submit company details and documentation such as recent tax returns, income statements, bank statements and balance sheet to support your application.
  • Once completed, your application will be reviewed by our credit assessment team.
  • You will be notified if your application gets approved.
  • Should we require more information, our credit team will contact you.
  • Once your loan request is approved, your business will be posted in the funding marketplace.
Loan repayments are calculated using the same formulas used by banks and other financial institutions, with the interest rate being applied as an Annual Equivalent Rate (AER) and not as a flat rate (if the interest rate were applied as a flat rate it would substantially increase your cost of financing). Monthly repayments will always be equal, consisting of interest payments and repayments of the outstanding principal of the loan. Each month the interest portion of the payment will typically go down and the principal portion will go up. The full repayment schedule for your loan can be seen in the Loan Contract.
You may partially or fully prepay your loan at any time with no prepayment penalty or fee.  Paying down your principal early will reduce or eliminate future interest payments. A full prepayment of principal will pay off your loan and bring an end to your monthly payments.  A partial prepayment does not reduce the amount of your monthly payment but does reduce the amount of interest you will pay during the life of your loan by allowing you to complete repayment of your loan earlier than the original maturity date (last payment due date).
Yes, however First Financial also offers an excellent Equipment Leasing program.  We recommend you conserve your working capital and leverage an equipment lease.