August Funding Group Reviews - Rates, Is It Legit Or Scam
The August Funding Group is also known as AFG. They offer different kinds of business loans to small and medium-sized businesses. August Funding Group is located in Kew Gardens, New York.
August Funding Group offers almost all types of business financing, from term loans to mortgages. Financial companies claim to be able to fund 10000 to 5 million within 24 hours. In addition, they offer various business services like SEO, credit repair, and ADP.
We will review the August Funding Group today. All the pros and cons, loan programs, interest rates, payback terms, the application process, and loan eligibility will be discussed. In addition, we provide you with information about AFG Business Development’s legitimacy, August Funding Group’s alternatives, as well as customer service.
- 2 Pros of August Funding Group’s
- 4 Cons of August Funding Group’s
- 5 August Funding Group Products
- 7 Terms And Interest Rate
- 9 Is August Funding Group or AFG legit?
- 11 Our Reviews
- 13 Reviews by Customers
- 15 Customer Service
- 17 Alternatives
- 19 Conclusion
Pros of August Funding Group’s
AFG is a leading provider of business loans. They offer a variety of loan programs for small and medium businesses. As with other lending institutions, they also have some upsides and downsides. Here are some reasons why you should work with August Funding.
1. Fast Money
Fast money is always expensive, especially when it comes to business financing. However, it can also be very useful if you have a good chance of making more money. August Funding offers different loan programs within a short period of time. According to the financing company, they can fund within 24 hours. For the term loan, it will take 2 to 3 weeks.
2. Simple Process
Financing is easy with online lending. August Funding Group’s application and funding processes are simple and easy. Visiting their website and applying for the loan amount you need is all it takes. You will get funded as soon as possible if everything is in order.
3. Multiple funding options
You can see that some of the most popular lenders like OneDeck and Credibly don’t offer mortgages and term loans. However, the financial company did a great job here. They offer business owners multiple financing options.
4. Mortgage And Term Loan
Few online lenders offer mortgages and term loans. The majority of online lenders for small businesses offer short-term business loans.
5. Services to Businesses
In addition to offering business loans and financing, the company offers credit card repair, credit card processing, and SEO services.
Cons of August Funding Group’s
If you are seeking business funding with a more favorable rate and don’t like submitting lots of paperwork then August Funding Group probably isn’t your best choice. August Funding’s cons are as follows:
1. Very Expensive
August Funding Group’s interest rate is higher than industry rates. Additionally, there are some fees such as processing fees, maintenance fees, and more. If you are looking for cheap money, August Funding is not for you.
2. Additional Documents
The process of getting approval is very simple, but if you are looking to receive funding, you must submit additional documents. Bitty Advance or Kapitus only require you to submit bank statements from the past 3 to 6 months, a driving license, a voided check, and a simple one-page application.
3. A Good Credit Score is Required
August Funding Group is not suitable for people with poor credit scores. A good credit score is required by the financial company. CFG Merchant Solutions can fund you, however, even if you have a poor credit score.
4. No Options for Startup Loan
There are no options for startups at August Funding Group. Here are some lenders offering startup business loans without collateral.
August Funding Group Products
The majority of online lenders we reviewed offer working capital and merchant cash advances. August Funding Group offers some popular business financing. Among the loan programs offered by August Funding Group are term loans, equipment financing, mortgage financing, factoring, and P.O. financing.
Terms And Interest Rate
Multiple loan programs are available from the lending company. There are therefore different interest rates and repayment terms for the different loan programs. The following is August Funding Group’s interest rate and repayment terms:
- Rates for term loans range from 7.9% to 24.99%
- Interest Rate for Equipment Financing: N/A
- Rate of mortgage financing: N/A
- Interest rate factoring: N/A
- The PO. Finances: N/A
Is August Funding Group or AFG legit?
The August Funding Group is a legitimate company. The company is based in New York. However, none of their funding processes are in-house.
If you are looking for mortgage and term loans for your business and need some quick cash, August Funding Group is a great option. However, if you are looking for a better rate, it is not for you. In our review, we found that the financial company is legit and trustworthy. We rate August Funding Group 6.8 out of 10.
Reviews by Customers
After publishing this review, we searched for user reviews and found both positive and negative reviews. A few users say they are satisfied with the financial company. According to some of them, August Funding Group’s interest rates are higher than most of their competitors. There were no reviews on Trustpilot or BBB.
August Funding Group’s customer service number is 210-716-7800. Their email address is [email protected]
August Funding Group has dozens of competitors. OneDeck, Fundera, Idea Financial, US Bank, and Wells Fargo are the best alternatives to August Funding Group.
The quick money can be a little pricey, but if you can make the best use of them, you can get better results. For small and medium-sized businesses, it offers a variety of loan programs. If you need additional working capital then you can work with them.
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