At Forward Advances, we use the latest technology to assess your business and build our funding offers. The days of relying on outdated credit score metrics, personal guarantees, pitch decks or cap tables to review a company's performance are gone. Instead, we use open banking to create a comprehensive picture of your business's future trajectory – which means we can build a tailored and data-driven offer specifically for your company.
The first step to apply for our funding is to complete our short online application form. This is to confirm you meet our funding criteria of a UK-based online business (eCommerce, App, SaaS or Marketplace) generating more than £25,000 in monthly revenue over a sustained period of 6-months. If your business is a good fit, one of our friendly Funding Managers will be in touch to guide you through connecting your accounts. Once connected, we will review your business and provide you with a funding offer outlining your repayment percentage and terms.
To understand your business performance, we assess two main areas; your revenue and your accounting. This is to predict your future sales and verify your eligibility. We capture this information by connecting with your sales and finance accounts. We are limited to read-only access, meaning we can’t edit or delete your data, and you can revoke our access at any time. Working with founders, we understand your data security is essential, and this information is kept entirely confidential.
Once we are connected, our underwriting team will review your read-only data and create a sustainable and competitive offer with the best interests of your business in mind. We will agree on a repayment percentage based on your business performance, needs, and funds use.
To formalise the offer, we will require basic documentation to verify the identity of company owners and run final verification checks. Once the agreement is signed, the agreed amount will be transferred to your bank account, ready to be used by the following day. Repayments are automatically collected by direct debit each week, so you don't have to remember.
Our funding can scale with your business. If your company has grown significantly, or if you would like a re-advance, your Funding Manager is on-hand to discuss your options at all times.
Start your funding application here or to speak to someone direct, contact us via +44 3308 187 396