FAQ

Queens Discovery Brokerage (BFF) is an online marketplace that matches small business owners seeking working capital with hundreds of funding programs.  BFF boasts one of the largest funding networks and employs state of the art technology to seamlessly process applications and get small businesses approved and funded in as little as 24 hours or even same-day. 

According to the U.S. Bureau of Labor Statistics, approximately 20% of new businesses fail during the first two years of being open, 45% during the first five years, and 65% during the first 10 years.  These are staggering statistics, and the #1 case of business failure is lack of working capital.  Cash flow is the lifeblood of any small business, and even established, profitable companies can run out of cash and need working capital during the business lifecycle.

There are approximately 30 million small business owners in the US.  Over 80% of them can’t qualify for traditional financing through a bank.  They simply don’t meet the high credit requirements or they lack the necessary collateral.  And for the roughly 20% that do get approved, they have to endure a very long and arduous process.  By the time they fill out all the paperwork, provide the countless financial documents, i.e. tax returns, business plans, P&L’s, etc., it can take several months for them to get funded, and many of these businesses need cash immediately.

There are more than 100 participants in the Queens Discovery Brokerage network, including bank and non-bank lenders and direct funding providers, with new sources of funding being added on a regular basis.

Through it’s network of funding providers, Queens Discovery Brokerage provides access to the following secured and unsecured funding products:

SBA Loans

Business Credit Cards

Business Lines of Credit

Business Term Loans

Commercial Real Estate Financing

Equipment Financing

Franchise Financing

Invoice Factoring

Merchant Cash Advances

Queens Discovery Brokerage offers just about every commercial financing product available, and the rates and terms can vary widely depending on multiple factors. The type of product is the biggest variable, as secured loans with collateral tend to have longer terms and lower rates, whereas unsecured products are higher-risk and therefore tend to be paid back faster, typically within a 6-24 month period. Some products aren’t even loans and therefore don’t have an interest rate or fixed repayment term at all.  Other factors, such as owner credit history, time in business, industry, where the business is located, revenue, cash flow, and prior performance on other business funding products, also impact the pricing of a funding approval. By utilizing Queens Discovery Brokerage and its vast network of funding providers, business owners get access to the entire commercial finance industry and are able to choose from among the very best offers they can qualify for.

None. The entire process is digital and completed online through the Queens Discovery Brokerage website. All that’s required to get an initial approval is a 5-minute application form and the most recent three months’ business bank statements, which can be uploaded directly to the Queens Discovery Brokerage merchant portal or submitted via email.

Queens Discovery Brokerage does not perform any credit checks on its applicants. Each direct funding provider may, at its discretion, perform a credit and/or background check at some point during the underwriting process. Most funding providers are able to issue an approval without any up-front credit check or with a “soft” credit pull that does not result in an inquiry appearing on the applicant’s credit report. Others require a “hard” credit pull, either up front or prior issuing contracts. Most funding providers will require a full credit inquiry at some point prior to funding. If an applicant is sensitive about credit inquiries, Queens Discovery Brokerage can instruct its funding providers not to initiate a “hard” credit pull provided that the applicant submits a copy of a full credit report generated within the past 30 days.

No, all funding products are offered by third-parties. Queens Discovery Brokerage is a platform that matches small business applicants with direct funding providers.

No, Queens Discovery Brokerage only arranges funding for commercial entities and purposes.

Queens Discovery Brokerage facilitates millions of dollars in commercial funding transactions each year, and has worked with thousands of small businesses since its inception.