Our online application platform delivers a fast and straightforward process that requires minimal paperwork.
The intuitive designs guides the customer through the application process and ensures the customer provides relevant information for a successful application submission.
Submitted information is then analyzed by our analytics platform, which applies hundreds of proprietary data points that Backd Business Funding has accumulated and developed over the years to pre-qualify the applicant.
The system analyzes a broad array of factors including historical advance data for existing clients, company revenue, and the business owner's personal financial history.
The system then derives a score from these combined factors via our bespoke credit model to determine creditworthiness and affordability. A decision is generated within minutes and approved applicants can receive their payout in less than 24 hours.
If more information is needed, the system automatically escalates applications that require additional information to assess.