2 Part Special: Unlocking Pool Route Financing Secrets Part 2
The process of securing a business fund can be daunting, especially when it comes to credit inquiries and financial evaluation. OrangeFi, a business finance consulting and procurement service, understands the importance of transparency and a customer-friendly approach. In this blog, we’re excited to bring along Andre Walter and Sebastien Boyer from OrangeFi as they share their knowledge to help pool route buyers through the process, ensuring that you feel informed and confident at every step.
Who is OrangeFi and how long has it been around?
Orange Financial, also known as OrangeFi, is a business finance consulting and procurement service that has been around since 2012. They offer over 12 business finance solutions, including startup capital, working capital, and restructuring for businesses ranging from acquisition to franchising. OrangeFi starts their process with a business funding assessment, where they evaluate their clients’ credit profile, personal and business, and provide a free consultation to look at all available funding options. They also provide additional resources to help clients build and grow their businesses, ensuring that they are equipped with the right tools and knowledge for success. If a client does not qualify for funding, OrangeFi provides support and a roadmap to help them qualify. They offer unsecured lines of credit, conventional financing, SBA loans, strategic credit lines, and more. OrangeFi has been funding business loans for many years, offering comprehensive funding options covering nearly every type of business situation. They also offer easy online applications, 24-hour pre-approval, and no hidden fees.
What Does OrangeFi Require when Applying for Funding?
OrangeFi determines the appropriate financing solution for each client by conducting a viability analysis of the client’s unique credit profile as there is no one-size-fits-all credit profile. This analysis guarantees funding through their program without the need for tax returns, income documentation, time in business, bank statements, hard credit inquiries for approval, upfront costs, or collateral. Based on the client’s credit profile, OrangeFi provides a free viability analysis to all entrepreneurs seeking funding to grow their business. The company offers a strategic funding program tailored to each client, providing revolving credit lines up to $250,000 with low monthly payments. Additionally, OrangeFi offers unsecured lines of credit, conventional financing, SBA loans, strategic credit lines, self-directed 401k rollovers, life collateral business lines of credit, equipment financing, vehicles and trucks financing, commercial loans, invoice factoring, receivables line of credit, term loans, and business cash advance. OrangeFi’s approach is to provide a simple and direct answer to clients’ funding needs, ensuring that they have the best-fit funding product and amount without placing a hard credit inquiry. This tailored approach is designed to help clients make smarter funding decisions faster.
How Resilient is the Pool Route Industry in OrangeFi’s Point of View?
The pool route industry is considered to be recession-proof and resilient, as it offers a stable and consistent income that is not significantly impacted by economic downturns. During the pandemic, the pool route industry was recognized as an essential service, and pool companies were given exemptions to maintain and service pools. The industry has been described as pandemic-proof and has experienced growth during the pandemic. The pool route industry is a stable and lucrative business venture that provides a consistent customer base and recurring revenue stream. The industry is considered to be a recession-proof business opportunity that can provide a stable income stream in uncertain times. The pool route industry is a proven business model that offers multiple revenue streams, making it a recession-resistant franchise.
If you’re concerned about the competitive nature of the business, what we recommend is to check your county courthouse and find out how many pool permits are being pulled and that will tell you what the future is going to look like in your area.
Term loans and Credit card funding for business purchases. Which is better?
It really boils down to the clients, what they can qualify for, and which is best for the client.
Sometimes clients get approved for one, and sometimes clients get approved for both, but it depends on the client and credit profile. Personal term loans require qualification, such as providing W-2s or pay stubs for employees, or strong tax returns for business owners. OrangeFi aims to educate clients based on their funding viability assessment, determining where the client stands and guiding them through the process. In some cases, clients may qualify for a lower amount, and in such instances, a combination of 0% credit cards and term loans may be leveraged to secure as much funding as possible. The approach is flexible, with the funding scenario being a mixture of both, a bridge, or one or the other, depending on the client’s qualifications and the amount they strive to obtain. OrangeFi advises clients to secure a little more funding than needed, as it is safer to have a buffer.
What is the step-by-step process to obtain funding from OrangeFi?
Initially, OrangeFi provides clients with a no-obligation application, without upfront fees or credit inquiries. This is because OrangeFi is a business finance consulting and procurement service, not a bank or lender. They aim to save the credit inquiry for when the client is ready to be approved by the right bank, lender, or funding program. This process is designed to deliver the appropriate funding without impacting the client’s credit until necessary.
So let’s break it down to a few simple steps:
Step 1: Apply for a Business Fund
OrangeFi offers a hassle-free application form that you will be required to fill out. This form has no attached commitments, obligations, or upfront fees.
Step 2: Set Up an IdentityIQ Account
Next, you will be asked to set up an account on a third-party website called IdentityIQ. They will provide you with a link that offers a $1 trial for 7 days. OrangeFi requires only 24 hours of this being active. This process will help with underwriting the credit.
If you find value in the IdentityIQ account, you can choose to continue it, as it provides over a million dollars worth of fraud and identity protection. However, if you do not wish to continue, you can cancel the account.
Step 3: Schedule a Consultation
After the credit underwriting, OrangeFi will initiate an email communication to schedule a consultation. This consultation delves into not only your credit but also your unique circumstances, variables, and financial assets. Their aim is to create tailored funding that aligns with your goals and financial capabilities. While presenting the funding options to you, they will also educate you about them and the pros and cons of these options.
Step 4: Access Additional Resources
OrangeFi goes the extra mile by providing clients with additional resources that help them build and grow their businesses. Their ultimate goal is to ensure that their clients are equipped with the right tools and knowledge to make their businesses a success. This is also the case when clients do not qualify for funding.
Conclusion
OrangeFi’s approach to business financing is beyond the conventional, offering clients a complete range of services. From credit assessment and funding strategies to education on building business credit and ongoing support, OrangeFi stands as a trusted partner committed to the long-term success of its clients. Similar to Sealey Business Brokers, we value our clients, and our goal is for everyone to succeed in the business our clients get into.
As Andre Walter mentioned when you purchase a pool route, you’re walking into a gem. The best-kept secret, contact Sealey Business Brokers to learn more about how we can help you make a splash in the world of Pool Routes!
*Disclaimer: Sealey Business Brokers receives compensation from OrangeFi for every successful funding referral.
About the Author: Mikhail Ruski Rivero is a seasoned professional whose career in the Business Process Outsourcing (BPO) industry spanned a decade from 2010 to 2020. Currently, Mikhail brings his wealth of experience to Sealey Business Brokers, where he serves as an executive assistant, contributing significantly to the company’s operations, strategic initiatives and occasionally contributes to writing articles. His years as a professional in the BPO industry have endowed him with a unique perspective and approach to business processes, setting a standard of excellence in his current role.
