Question 1

What does VIP Bank Funding do?

Accepted Answer

VIP Bank Funding is a business bank funding consultant in New York. We do more than work directly with banks on behalf of businesses — we handle the entire process including reviewing tax returns and credit reports, providing credit improvement coaching, analyzing debt schedules, matching clients to the right bank program, and managing everything through to funding.

Question 2

How fast can a business get funded through VIP Bank Funding?

Accepted Answer

Simple files can be funded in as little as 10 days. Complex files typically take 4 to 6 weeks. Our process is up to 3 times faster than applying to a bank alone, thanks to our established bank relationships and preparation process.

Question 3

What is the difference between bank rates and alternative lender rates?

Accepted Answer

Bank rates for business loans and lines of credit typically range from 6 to 14 percent annually. Alternative lenders charge effective rates of 25 to 150 percent or more. On a $200,000 facility, this difference can save a business tens of thousands of dollars per year.

Question 4

What types of bank funding does VIP Bank Funding arrange?

Accepted Answer

VIP Bank Funding arranges two core products: business lines of credit from $50,000 to $5,000,000, and business term loans from $100,000 to $10,000,000 or more. Both are arranged at true bank rates through a network of 50 or more bank relationships.

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