The anti- "one size fits all" approach
Typically (and sadly) too many lenders in our industry try to underwrite for the maximum loan amount as possible on every deal, and then sell that to the customer. That is never our philosophy at Bright Light Funding. We think client first, team second. That is why merchants return to us again and again for additional needs as their business grows.
As each business brings with it its own unique needs and challenges, the funding needs be as flexible as possible to ensure maximum compatibility. The entire underwriting staff at BLF is highly adept at creating just the right lending program for just the right situation. Merchants are advised as to which option will work for the not only the current needs, but also that which may offer the smartest route for growth through business cycles.
Our typical application/underwriting process looks a little like this:
- Assessment of the immediate needs of the merchant
- Analysis of the cash flow for a typical month/accounting period
- Presentation of cost-effective analysis for cleint
- Determination of the most strategic payback period
- Customization of repayment options (frequency)
- Anticipate additional working capital needs of merchant
- Schedule funding
Although we do have to use certain underwriting metrics throughout the process, everything will be done with a hands on, "human to human" approach. Ever mindful that our clients are working people, and not just numbers in a spreadsheet, we also keep the loan process is an open-ended conversation.