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Below is our recent interview with Chris Moreno from GoKapital:
Q: Could you tell us a bit about GoKapital?
A: GoKapital was formed in 2013, with the goal of facilitating access to alternative lending to borrowers nationwide. This is done through a digital streamlined application process using our proprietary financial technology. Ultimately, we aim to make the business lending and real estate financing process much faster and simpler than a bank.
Q: How does it work? Is it really as easy as it sounds?
A: Yes, we only need basic information in order to provide a pre-qualification. Our clients have the option of applying online, at our office, with their account representative, for our numerous funding programs. Many businesses are unaware of the array of alternative lending options available in today’s market. These options include Lines of credit, merchant cash of advances, equipment leasing, unsecured business loans, asset-based loans, and more. Similarly, real estate investors also have easier access to capital, for both, residential investment and commercial properties.
Q: You’ve recently launched nationwide business loans affiliate program; could you tell us something more?
A: We provide a service needed by many – working capital. We launch our nationwide affiliate business loan program after being approached by many marketing experts showing interest in offering our services. The process is simple. Our partners simply register, we provide all the marketing and sales support needed, and they earn a monthly residual for assisting borrowers to obtain funding.
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Q: What types of business loans do you provide to your clients?
A: Although we offer a wide array of financial products, for both business owners and real estate investors, we are now focusing on SBA loans, business lines of credit, commercial mortgages, and hard money loans.
SBA loan activity from banks has gradually been increasing, but without the proper guidance, obtaining an approval can be a very time-consuming process for a borrower. GoKapital can identify the best SBA loan program for your business, with the most competitive rates available.
Business lines of credit are another program we are actively marketing, as it allows borrowers to only pay interest on the funds used, while still maintaining a reserve of capital when needed.
Commercial mortgages tend to have more stability than residential, but despite this, banks have many guidelines with regard to property types and are often very limited in their capacity to lend for commercial real estate loans.
Real estate investment for residential investment properties is seeing a significant increase in certain areas of the country. Specifically, South Florida has recently seen a massive influx of foreign nationals seeking to purchase homes in the US. Many investors are aware of this and are seizing the opportunity to fix and flip well-designed homes.
Recommended: Q: What are your plans for the future?
A: Fortunately for the financial services industry, within the context of commercial and real estate lending, there will always be a need. But like many other areas of life, technology and innovation have provided us with ever-changing products and services to make life easier. GoKapital always seeks to remain competitive in the lending marketplace, and thusly is continuously modifying the loan programs offered to meet customer demand. We are also constantly developing our financial technology to further facilitate the application process. Also, with an office in Miami and Colombia, we are looking into physical expansion in different geographic regions.
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