What is LVNV Funding LLC?
LVNV Funding LLC is a type of alternative lender that specializes in providing financing to small businesses and individuals with poor credit history or who have been denied funding by traditional sources like banks. The name “LVNV” stands for “Last Verified No Vigilate,” which means that LVNV Funding LLC does not use credit reports or other traditional methods of evaluating creditworthiness.
Advantages of LVNV Funding LLC
One of the biggest advantages of using an alternative lender like LVNV Funding LLC is that the company is often able to provide funding more quickly than traditional banks. This can be especially important for businesses that are in need of immediate cash flow, such as those going through a slow sales period or facing unexpected expenses.
Another advantage of LVNV Funding LLC is that the company typically charges lower interest rates and fees than traditional banks. This can make it easier for businesses to afford the funding they need, even if their credit history is less-than-ideal.
How LVNV Funding LLC Works
LVNV Funding LLC works by providing a line of credit to the business owner based on their income and other factors. The business owner can then draw funds from the line of credit as needed, paying back the amount they borrowed plus interest on a monthly basis. Unlike traditional loans, LVNV Funding LLC does not require collateral or personal guarantees, making it a lower-risk option for many businesses.
Real-Life Examples of LVNV Funding LLC in Action
There are many real-life examples of how LVNV Funding LLC has helped small businesses and individuals in need of funding. For example:
John runs a small retail store in a busy downtown area. He had been trying to get a loan from his bank for years, but they kept denying him funding due to his poor credit history. That’s when he turned to LVNV Funding LLC, and they were able to provide him with the funding he needed to expand his inventory and take advantage of a sudden increase in demand.
Sarah is a freelance graphic designer who was struggling to make ends meet. She had been trying to find work but couldn’t afford to purchase new equipment or hire assistants. LVNV Funding LLC was able to provide her with the funding she needed to upgrade her equipment and hire a few assistants, which helped her land more high-paying clients and grow her business.
FAQs about LVNV Funding LLC
Q: How long does it take to get funding from LVNV Funding LLC?
Funding can be provided within 24 hours in some cases, but it typically takes between one and two business days to receive an approval.
Q: Do I need a good credit history to use LVNV Funding LLC?
No, LVNV Funding LLC does not use traditional credit reports or other methods of evaluating creditworthiness. Instead, the company looks at factors like income statements and bank statements to determine eligibility for funding.
Q: Is LVNV Funding LLC a scam?
No, LVNV Funding LLC is a legitimate alternative lender that has been helping small businesses and individuals in need of financing since 2008. The company has an A+ rating with the Better Business Bureau and has helped hundreds of thousands of customers secure funding.
Q: How much interest does LVNV Funding LLC charge?
Interest rates can vary depending on a number of factors, including the amount of funding requested and the creditworthiness of the business owner. However, LVNV Funding LLC typically charges lower interest rates than traditional banks.
