How First Funding Works
The process is simple. The banks are not lending. But there are thousands of private business
angels who are looking for good businesses to lend to.
First Funding is an online matching service, where lenders and borrowers meet. Think of online dating.
We have access to 2,000 business angels registered under FSA rules, who are looking for
deals to invest in.
Entrepreneurs submit an application online specifying how much they need to borrow, how long for and at what rate of interest.
We also provide opportunities for borrowers to upload their business plan and other supporting information to give
themselves the best chance of attracting lenders.
Lenders browse the list of applications online and if they are attracted by a deal they request more information, at which point we validate
their identity before giving them access to the full detail of the application.
If all goes well the next stage is for the entrepreneur and the angel(s) to meet to exchange information and negotiate a deal.
Angels may lend individually or as a group.
On signing the agreement the lender transfers the loan to the borrower, less the arrangement fee
which is paid to First Funding.
The lender will negotiate directly with the borrower over issues of non-payment or new terms.