Merchant Cash Advance Company Review

Company Profile

Big Think Capital is a financial services marketplace that was founded in 2017 by David Brown. The company is built on the core principles of trust and integrity and is recognized as a leader in the alternative financing industry. Big Think Capital combines technology and partnerships to provide business owners with financial programs for expansion, production, day-to-day operations, and debt restructuring. The company has a proven track record of delivering successful options for businesses of all sizes and industries.

Under David Brown's leadership, Big Think Capital has built a brand dedicated to customers. The company's extensive network of relationships has enabled consistent success for each of its clients. Big Think Capital prioritizes conducting business the right way and is committed to helping businesses grow not only by providing capital but also expertise, product knowledge, and tailored services to meet the specific needs of each business. Over the past five years, Big Think Capital has arranged funding for over 10,000 business owners, totaling over $500 million.

Products & Services

Big Think Capital offers a variety of financial services to small business owners. One of their key offerings is short-term business loans. These loans are ideal for businesses that need extra cash quickly, whether due to lagging invoices, strained working capital, or a desire to buy more inventory to grow. The company prides itself on its relationship-driven approach, extensive financial industry connections, and a security-first attitude towards sensitive information.

In addition to short-term loans, Big Think Capital also provides term loans and equipment financing. The company's term loans are designed to help businesses manage their cash flow, purchase inventory, or invest in equipment or infrastructure. On the other hand, their equipment financing services help businesses acquire the necessary equipment to operate and grow without the need for a large upfront payment.

Pros and Cons

Pros:
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1. The company has a relationship-driven approach, which means they work closely with their clients to understand their needs and provide tailored solutions.
2. Big Think Capital has a wide network of financial industry connections, which can be beneficial for clients looking for specific types of funding.
3. The company offers a variety of loan products, including short-term loans, term loans, and equipment financing.
4. Big Think Capital has a quick and easy application process, with decisions made as fast as 1-3 hours.
5. The company has a strong track record, having arranged funding for over 10,000 business owners.
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Cons:
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1. The company's short-term loans have relatively high Annual Percentage Rates (APRs).
2. The loan amounts are capped, which may not be sufficient for businesses with larger funding needs.
3. The company requires daily payments for their short-term loans, which may not be convenient for all businesses.
4. The company requires a minimum credit score of 500 and a minimum of 6 months in business, which may exclude some businesses.
5. The company requires certain documentation for application, which may be cumbersome for some businesses.

Ideal Customer

The right type of customer for Big Think Capital is a small to medium-sized business owner who needs quick access to funding. This could be due to a variety of reasons such as needing to purchase more inventory, dealing with lagging invoices, or wanting to grow their business. The ideal customer should have a minimum credit score of 500, have been in business for at least 6 months, and have a yearly revenue of $100,000. They should also be comfortable with the idea of daily payments for short-term loans.

Required Documentation

To apply for funding from Big Think Capital, businesses need to provide basic details about themselves and their business. This includes bank statements for the past three months. The business should also be in good standing. For short-term loans, additional requirements include a minimum credit score of 500, at least 6 months in business, and a minimum of $100,000 in yearly revenue.

Industries and Restrictions

The information provided does not specify the industries that Big Think Capital works with or if there are any industry restrictions. However, given the company's wide range of financial services and its mission to help small businesses grow, it can be inferred that they work with a diverse range of industries.

State of Operations

The information provided does not specify the states that Big Think Capital operates in or if there are any state restrictions. However, the company's mission to serve small businesses across the country suggests that they likely operate in all states.

Basic Qualifications

To qualify for funding from Big Think Capital, a business needs to meet the following criteria: have a minimum credit score of 500, have been in business for at least 6 months, and have a yearly revenue of $100,000. Additionally, the business should be in good standing.

Collateral or Guarantees

The information provided does not specify whether collateral or guarantees are required for Big Think Capital's products. However, it is common for lenders to require some form of collateral or guarantees, especially for larger loan amounts or for businesses with lower credit scores.

Alternatives

For businesses that find Big Think Capital's offerings not suitable, there are several alternative options available. Traditional banks often offer a variety of loan products with potentially lower interest rates. Online lenders and peer-to-peer lending platforms can also provide quick access to funding, often with less stringent requirements. Additionally, businesses can consider seeking investment from venture capitalists or angel investors. It's important for businesses to carefully consider their specific needs and circumstances when choosing a financing option.