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First Down Funding business loans review

Alternative financing with highly competitive rates for those who may not qualify elsewhere.’s rating: 4.6 / 5.0


  • Best for affordable alternative financing when you've exhausted other options.
  • Pick something else if you need to finance a large purchase or project.
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Min. Amount$5,000
Max. Amount$300,000
Loan Term12 to 120 months
Min. Credit Score400
APRFee Based
RequirementsAt least 2 years in business, an annual revenue of $300,000+, and a minimum credit score of 400

How much will this loan cost me?

First Down Funding loans are fee based and come with rates that start at 9%. It doesn’t charge any closing fees, though you’ll have to pay a $49.99 wire transfer fee to start your account.

You can borrow from $5,000 to $300,000 with terms from 1 year to 10 years. Use the calculator below to see how much a First Down Funding loan might cost you each month and in total.

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How it works

Only prime customers with a one-year term are eligible for that 9% rate. If your credit is less-than-perfect, you’re still in the startup phase or you want a longer term, expect higher rates.

How much you receive also mainly depends on your monthly sales. The higher your sales, the more you’re eligible to borrow.

What do I need to qualify?

First Down Funding is more flexible than your typical lender. But you’ll still need to be at least 100 days in business and make at least $4,166 in monthly sales. There are no minimum credit requirements.

What information do I need to apply?

You need the following information and documents on hand to apply for a business loan through this lender.

  • Owner Social Security numbers
  • Business Tax ID or EIN
  • Three months of recent bank statements

What industries does First Down Funding work with?

First Down Funding works with most industries — including trucking, and construction. However, businesses in the following industries are ineligible.

  • Firearms
  • Gambling
  • Adult entertainment
  • Illegal substances

What other types of financing does First Down Funding offer?

In addition to its alternative loans, First Down Funding also offers SBA financing. You can borrow up to $150,000 with terms as long as 10 years and SBA guarantee fees waived for businesses that apply in 2020.

Pros and cons

First Down Funding can be beneficial to businesses that are just getting started or otherwise struggle to get funding. But consider the drawbacks first.


  • Competitive rates compared to other alternative lenders
  • Works with bad credit and most industries
  • Only 100 days in business required
  • No credit check


  • Difficult-to-navigate website
  • Not transparent about fees
  • Potentially long turnaround

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Starting at 6.50%
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Is First Down Funding legit?

Yes, First Down Funding is a legit lender. It uses SSL encryption to protect the information you enter online. And it only shares your personal information with third parties for business purposes related to fulfilling your loan contract.

While its website might be hard to navigate, it’s more transparent than most alternative business lenders about loan amounts, eligibility costs and other information you typically need to make an accurate comparison.

First Down Funding reviews and complaints

BBB accredited Yes
BBB rating A+
BBB customer reviews 4.5 out of 5 stars, based on 2 customer reviews
Customer reviews verified as of 03 February 2021

Technically, yes. But First Down Funding only has four customer reviews on the Better Business Bureau (BBB) website and none on Trustpilot. The few positive reviews are from repeat customers who recommended the lender to other business owners. But with so few reviews, it’s hard to get an accurate picture of the average customer experience.

How do I apply?

You can apply for a business loan from First Down Funding by filling out a short form online. Here’s how to get started:

  1. Go to First Down Funding’s website and click Apply now.
  2. Complete the form with information about your business, yourself and other credit accounts.
  3. If you don’t own at least 50% of the company, provide information about other owners that can bring your combined ownership share to 50%.
  4. Review the authorizations before signing and dating the application.
  5. Click Apply now.

What happens after I apply?

After you submit the application, wait for First Down Funding to reach out with instructions on how to submit documents and complete your application. If approved, businesses typically receive funding within 24 to 72 hours.

How do repayments work?

How repayments work also depends on the type of loan you take out. Generally, its loans come with weekly or daily repayments. But if you take out an SBA loan, it might come with monthly repayments. You can find the terms of repayment in your loan contract, including how much you owe and the due date.

If you have any questions about your loan or are worried about missing a repayment, reach out to customer service as soon as possible.

Find out how First Down Funding compares to other lenders by reading our guide to business loans.

Frequently asked questions

Review by

Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1,000 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.

Expert review

First Down Funding is an online lender that offers alternative business loans to companies that have struggled to get funding in the past. It could be a particularly good option if you’ve had a hard time qualifying for a loan due to your industry, credit score or are in the startup phase.

Its rates are generally more competitive than other alternative business lenders — they’re even lower than what you might find with mainstream online providers. But its hard-to-navigate website and lack of customer reviews make it hard to tell what you’re getting into before you apply.

Not sold on First Down Funding? Compare your other options below.

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