The Best Business Loan Providers

Friday, September 29th

2023 Business Loan Provider Reviews

National Funding

• Loans from $5,000 to $400,000
• Impressive range of lending options
• Super easy application process
• You can be approved and funded in as little as 24 hours
• "A+" rated and accredited by the BBB
• Over $4.5 billion in loans provided to 75,000+ businesses
• Early payoff discounts
• Solid customer reputation

Since getting its start in 1999, National Funding has provided over $4.5 billion in loans to more than 75,000 businesses throughout the US. The company prides itself on its custom-designed lending solutions for each business, with loan specialists who have industry-specific knowledge that can help you get the money you need for marketing, inventory, payroll and more.

Wide range of loan amounts

National Funding offers one of the widest ranges of loan amounts for businesses: $5,000 to $400,000 - all with no down payment or collateral required. Many of their competitors offer a much smaller range of laon amounts (such as minimum of $15,000, or they don't go beyond $200,000). National Funding's wide range of loan amounts make this lender a great possibility for a larger number of businesses of all sizes. Be aware that you will have to have a minimum gross sales amount of $250,000 in order to qualify for any loan with National Funding.

Impressive lending options

What types of lending options can you get through National Funding? Take a look for yourself:

• Bridge Loans
• Commercial Business Loans
• Corporate Loans
• First Time Business Loans
• Online Business Loans
• Short Term Business Loans
• Working Capital Loans
• Unsecured Business Loans
• Business Financing
• Equipment Financing & Leasing
• Alternative Lending
• Direct Business Lending

Easy application process

The process of applying for a small business loan couldn't be easier. Enter your basic information - name and contact details, how long you've been in business and your annual gross sales, etc. You'll then get a screen that says a loan specialist will be in touch, but don't leave the site yet! You may be redirected to a page asking for further details; in our case, we were asked to specify if we'd had at least $8,300 in monthly sales for the last 3 months and if our personal credit score was above or below 650. Even with lower credit, you may still be eligible for a loan, so we encourage you to complete the prequalification form if asked to do so - you'll probably still be offered funding.

Fast funding

A big perk of getting a business loan from this lender is fast funding. After approval, you can receive funding as quickly as 24 hours. Another benefit is that their customized financing solutions never require collateral or a down payment. And, if you're able to pay off your business loan earlier than expected, National Funding offers early payoff discounts too.

Solid reputation

This lender has a solid reputation, which is a must when deciding which provider to entrust with the financial well-being of your business. The BBB has given National Funding an "A+" rating and accreditation. Elsewhere we found over 1,600 client reviews that have earned this service a strong 4.8 out of 5 stars. We're always glad to see people saying that a lender has been knowledgeable, helpful and friendly, but it's even more impressive to find happy reviews from clients who are repeat customers because of the excellent service they received.

Highest rating

One thing is for sure: if you need a business loan that is tailored precisely to meet your unique situation, National Funding can get it done. With funds available as soon a day after your application is complete, flexible options for virtually every industry, and a great record for offering quality service to its clients, this lender is a great choice for most businesses. They've earned our highest rating.

Upstart

• "A" rated and accredited by the BBB
• High loan amounts from $1,000 to $50,000 ⁽¹⁾
• Fixed 3 or 5 year terms ⁽³⁾
• APR's from 3.5% to 35.99% ⁽³⁾
• Borrowers can get funds as fast as one business day ⁽⁴⁾
• Origination fees disclosed at the time of loan offer

Upstart looks at your whole financial picture - including your educational background and your earnings potential - before determining if you're qualified to borrow money. Although educational information is collected as part of Upstart's rate check process, neither Upstart nor its bank partners have a minimum educational attainment requirement in order to be eligible for a loan.

Artificial Intelligence

Founded by former Google employees, Upstart uses an extensive artificial intelligence process to evaluate your risk. With this method, they are able to obtain higher approval rates from their lenders, which means you have a greater chance of being approved for a business loan.

Simple application

To apply for a business loan with Upstart, you'll choose "Something Else" as the reason for your loan and then enter your contact information, birthdate, and the amount you want to borrow. From there, you'll be asked for details about your education (school, major, graduation date), your employment, and your savings and investments.

Soft credit check

To prepare your loan offer, Upstart will perform a "soft pull" credit check which does not affect your credit score. If you accept your rate and proceed with your application, they do another (hard) credit inquiry that will impact your credit score. If you take out a loan, repayment information will be reported to the credit bureaus. Of course, this is true whenever you take out a loan, regardless who it's from.

Good recent credit history needed

We like that Upstart uses more than just a credit score to give more people access to business loans. Their model is designed to do that, while also making it less risky for financial institutions to provide funding. This alternative way of assessing risk means it may be a little harder for some borrowers to qualify: you need a minimum credit score of 580, no bankruptcies or accounts in collections in the last three years, and no more than six inquiries on your credit report over the previous six months.

Business loans up to $50,000

Business loans are available in amounts ranging from $1,000 to $50,000. Your loan amount will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will qualify for the full amount. Loans are not available in West Virginia or Iowa. The minimum loan amount in MA is $7,000. The minimum loan amount in Ohio is $6,000. The minimum loan amount in NM is $5100. The minimum loan amount in GA is $3,100.

Favorable rates and terms

What loan rates and terms can you expect with a business loan from Upstart? All loans funded through this service have a repayment term of either 3 or 5 years, and their interest rates are competitive with other lenders in the industry. Upstart's origination fee can range from 0 to 8% of your loan amount, and is deducted from the proceeds of your loan. Remember to check this when looking at your loan offer.

Get your funds next day

If your application is approved and you accept your loan terms, you could have your funds deposited by the next business day. If you accept your loan by 5pm EST (not including weekends or holidays), you will receive your funds the next business day. Loans used to fund education related expenses are subject to a 3 business day wait period between loan acceptance and funding in accordance with federal law.

Great customer satisfaction

We weren't surprised to find that Upstart gets high marks for customer satisfaction. In addition to an "A" rating and accreditation from the BBB, more than 8,500 clients rated Upstart as a 4 or 5 star service. Customers were pleased that their loan funds were available in just a day, and that the entire borrowing process was simple, straightforward, and easy to understand.

Strong choice

Should you use Upstart to fund your business loan? They're a trustworthy, reputable source of loans for thousands of borrowers. Their model is unique and may qualify some individuals that would be typically turned away by other financial institutions. Upstart has plenty of positive customer feedback as well. With competitive interest rates and favorable loan terms, Upstart easily earns high marks in our review of the best business loans.

Funding Circle

Funding Circle is a great choice among peer-to-peer lending companies. Its cofounders created the company as small business owners themselves, who were frustrated with their attempts to access financial assistance to grow their business even when their company was thriving. Funding Circle was designed to be a better solution for American small business owners, although their customers come from not just the US but also the UK, Germany, Spain, and the Netherlands. More than 15,000 loans have been funded through Funding Circle since 2010, with a total of more than $2 billion loaned.

Standout process

One thing that makes Funding Circle stand out among providers of business loans is their transparency throughout the entire loan process. While some companies make it difficult to determine interest rates and fees without reading the fine print, Funding Circle clearly lists every possible cost on their Rates and Fees page:

• Origination fees range from 3.49% to 7.99%
• 6-month loans have interest rates from 4.99% to 23.24%
• 12-month loans have interest rates from 7.30% to 23.74%
• 24-month loans have interest rates from 7.60% to 25.54%
• 36-month loans have interest rates from 7.90% to 26.29%
• 48-month loans have interest rates from 8.20% to 27.04%
• 60-month loans have interest rates from 8.50% to 27.79%
• No prepayment fees
• Late payment fee: 5% of the missed payment

Very competitive

Not only are Funding Circle's costs and fees readily available, they are extremely competitive within the business loans market. Funding Circle loans range from $25,000 to $500,000, considerably more than many of the lenders in our review.

We were also impressed by Funding Circle's A+ rating with the Better Business Bureau, as an accredited business since 2013.

Loan criteria

In order to qualify for a loan with Funding Circle, borrowers must meet several criteria. For loans under $300,000, applicants must provide documentation of the two most recent year's business tax returns, the most recent year of their personal tax return, and the six most recent months' business bank statements, For loans over $300,000, applicants must also submit a year-to-date income statement and balance sheet, and an Outstanding Business Loans & Credit Worksheet available from Funding Circle upon request.

Those documents will be requested after the borrower has completed the short online application form and received a phone call from one of Funding Circle's specialists. They will typically call within two hours of submitting the online application. Once the borrower's information is verified and the loan is approved, funds are available within 5-10 days.

Impressive resource center

We were also impressed by Funding Circle's Resource Center, full of blog posts, videos, and other sources of information to help small businesses with their efforts to grow and succeed. The entire site is clean and easy to navigate, inspiring confidence in Funding Circle's ability to genuinely provide borrowers with an all-around excellent experience.

Excellent choice

Because of their transparency with respect to interest rates and fees, their excellent rating with the BBB, and their deep commitment to helping small business owners get the funding to grow their businesses, we give Funding Circle very high marks. They are an excellent choice for business owners in need of some extra funding.

LendingTree

If you'd like to get a feel for the different types of business loans available and some possible partners that would fund the loan you choose, LendingTree can help. Unlike most of the other business loan sources in our review, LendingTree does not fund loans directly but instead serves as a connection between borrowers and lending partners.

Very helpful

LendingTree is very helpful when it comes to understanding different types of business loans. Do you know the difference between a Small Business Loan and an SBA Loan? How about between a Working Capital Loan and a Business Line of Credit? If not, don't worry - you'll find a wealth of information on the main business loan page. Just click on the various types of loans listed and you'll find detailed explanations, along with helpful Pros/Cons summaries to help you understand at a glance.

Choose your business

To get an idea of what LendingTree has to offer for your business, the main landing page (as well as the link for Business Loans on the primary site) will ask you first to choose what kind of business you have:

• Sole Proprietorship
• Partnership
• Corporation
• S-Corporation
• LLC

How much do you need to borrow?

From there, you'll choose the range of loan you're looking for, from less than $15,000 to more than $300,000. Enter the month and year that you started your business (or the acquisition date), your monthly revenue, and whether or not you've filed for bankruptcy in the last 7 years. You'll then need to provide your business' name, phone number, and email address in order to see your funding options. (Be aware that if you put it "dummy" information just to see your possible loan details, you'll get an error message saying that your data doesn't match.)

Your lender options will vary

The number of lenders a business is matched up with can vary significantly. Factors such as income, years in business, location and more will help determine how many companies are potentially interested in lending you money.

What can you expect?

Of course, in order to get your loan funded, each lending partner will have their own specific requirements. LendingTree does a decent job of communicating that to prospective borrowers, giving a list of steps and documents you should expect throughout the process, such as putting together a cash flow projection and gathering papers like your business license and your personal/business tax returns.

Fast and efficient

LendingTree reduces the headache many of us face attempting to borrow money. There's no need to complete multiple applications from local lenders when LendingTree serves as the liaison between business owners and banks. LendingTree provides a fast and efficient process of identifying potential lenders as well as a wealth of information for those looking to borrow for business purposes.

Kabbage

If you're looking for a modern way to get a business line of credit, Kabbage offers lines from $2,000 to $100,000. An accredited business with the Better Business Bureau since 2014, Kabbage's A+ rating demonstrates that they are a contender in the business loan market.

Unique creditworthy verification

One unique feature of Kabbage is their use of other online services to verify the creditworthiness of your business: if you sell products on Etsy or receive regular payments from customers via PayPal, for example, you can link to those services to show Kabbage a real-time snapshot of your business data. This is an impressive way to save time often required by other lenders' paperwork processes, such as obtaining and documenting your credit score or sending in bank statements. The signup and application process, including this linked verification, takes only a few minutes; once qualified, you receive instant access to your approved amount.

Business loan requirements

In order to get a business loan from Kabbage, you will need to meet their minimum requirements:

• In business for a year or longer
• More than $50,000/year in revenue

Those requirements do mean that Kabbage would not be suitable for startups or companies within their first year of doing business.

Low fees

We were impressed by Kabbage's low fees for their business lines of credit: 1.5% to 12%. Loans are paid back either in six months or twelve, and there are no early payment fees. There are no application fees either, making Kabbage one of the most straightforward lending platforms in our review.

Small business guides

We also like Kabbage's dedication to helping small businesses succeed. Their website has a Resources section that includes an up-to-date blog, complimentary Small Business Guides on a variety of topics, and even access to webinars on topics from bookkeeping to hiring.

Great lending resource

While Kabbage won't be able to help you if you're looking for funds for your startup, or if you need a loan in excess of $100,000, they are a fantastic, low-fee resource if you have an established business that is doing well overall. Kabbage easily earns a four-star rating.

Clearbanc

Before you get started with Clearbanc, you should know that their focus is very different from most providers of business loans: unless your company is considered e-commerce, a SaaS product or a mobile app, Clearbanc will probably not approve you for funding. Since 2015, they've invested more than $1 billion in more than 2200 online businesses, making Clearbanc the biggest e-commerce investor in the world. (In fact, you can read more about the company's success in Forbes, Fast Company, and other well-known publications.)

Big loan amounts

Clearbanc prides itself on being fast, flexible and fair. You can get a business loan offer - what they call a "term sheet" - in about 20 minutes. Their funding ranges from $10,000 up to $10 million. And, they don't require you to put up equity or risk your personal credit to qualify. Sounds good so far, right? To be eligible, you'll need an average monthly revenue of at least $10,000, at least 6 months of consistent revenue history, and you have to either be a corporation or an LLC (no sole proprietorships).

2 step application

The application process has two steps. First, you'll have to give Clearbanc some basic details about you and your business, like how much monthly revenue you're generating, your URL, and your address. Once those initial details have been prequalified, you'll move on to the formal application.

Here's where it gets more in-depth. You have to connect your sales and marketing account(s) as a mandatory step to get funding. This could include e-commerce platforms like Shopify or WooCommerce, payment processors like Stripe and Square, marketplaces such as Amazon or Cratejoy, or even app stores.

Predictive modeling

Why? It all comes back to Clearbanc's novel way of funding businesses: they use AI-fueled predictive modeling to take a deep dive into your ad performance, revenue, and other third-party data to determine how much to invest - in you! There's no credit check, no collateral or guarantees required, no dilution of your investors, because their funding offer revolves solely around how your company is already performing.

Transaction-based repayment

It also relates to how you make repayments. Instead of having to remember to make payments on a loan, you'll have a percentage of your future business revenue deducted directly by Clearbanc. That repayment percentage is typically between 1% to 20% of each transaction, so that you keep cash flow in your day-to-day operations. There's no fixed repayment date, so you're not obligated to make big loan repayments during times where business may be slower than usual. You should expect a flat fee ranging from 6% to 12.5%, depending on how you plan on using the funds. The amount of that flat fee is also gradually recouped from your future revenue.

Impressive resource center

One very significant difference when getting business funding through Clearbanc is that you're never given a lump sum payment of your "loan". Instead, you receive a Clearbanc credit card that can be used to spend on marketing, inventory, and so on. That way, the amount you borrow directly correlates to the amount you spend. We think this is a good way for you to discretely manage the actual amount of money you borrow.

Frequent praise

Overall, Clearbanc presents a revolutionary alternative to traditional business loans. Among the dozens of reviews we found from very satisfied clients, we found frequent praise for the helpfulness of their customer representatives, the speed at which the funding was made available, and particularly how Clearbanc's business model makes it possible to grow a business without dilution. If you've got any kind of e-commerce business and need funding within a matter of days, we strongly recommend you consider Clearbanc.

Balboa Capital

Balboa Capital is a well-known company in the business loan market. Located in Irvine, CA, Balboa has been helping borrowers get the funds they need to start or grow their businesses anywhere in the US for nearly two decades.

Simple application process

Business owners looking to get a loan have two primary choices: small business loans or equipment leases. For either option, the process is simple:

• Start by getting a free quote; for a small business loan, choose the amount desired, from $1000 to $250,000, and the desired term, from three months to one year. For example, a loan of $100,000 with a term length of 12 months is estimated to cost $446-$462 daily (or approximately $13,380-$13,860 per month).
• Complete a short online application, providing basic details such as number of years in business, percentage of ownership, and location. (Note: the owner's social security number is required.)

Loan approval phone call

Once those two steps have been completed, an account manager from Balboa Capital will contact the prospective borrower - often within a matter of minutes, and almost always the same day - with a decision on the loan. If approved, equipment financing is typically funded on the same day, and business loans are funded within a few days.

Read the terms

Balboa Capital's site doesn't make their interest rates obvious or easy to find. We highly recommend that prospective borrowers make sure to be very exact with their businesses' details (for example, years in business, total revenue, credit history) and to read the fine print, to make sure that any loan terms offered by Balboa Capital are reasonable, given the difficulty in determining outright what interest rates and fees might be expected.

Excellent customer ratings

We're encouraged to see that Balboa Capital maintains a perfect A+ rating with the Better Business Bureau, and an excellent rating across 72 reviews gathered by Trustpilot. Based on information offered by Balboa Capital's customers, we suggest that borrowers make sure to understand any origination fees, termination fees, and other costs, as some reviews express frustrations with unexpected costs in the fine print, especially for customers using Balboa's equipment lease program.

Responsible contender

While we would have liked to see more transparency with Balboa Capital's interest rates and fees, their well-established history and excellent rating with the BBB make them a contender within the business loans market. As with any borrowing situation, customers should make sure to have a clear understanding of any possible fees and other costs before signing on the dotted line.

National Business Capital

National Business Capital is a well-known source for business financing, both in terms of small business loans and other products, such as equipment financing, business lines of credit, and more. Since their start in 2012, their clients have come from nearly every industry, including Transportation, IT companies, Hospitality Services, and Construction/Contracting, regardless of their credit background. Nearly 70% of their clients were first turned down by traditional banks prior to their approval by National Business Capital, which is evidence of their strong commitment to helping businesses get the financing they need, even during times of economic instability in the nation.

Approval in less than 24 hours

One terrific feature of National Business Capital's process is that approval takes less than 24 hours. After completing a brief application that includes the business' name, approximate monthly sales, and purpose of the loan, applicants can expect contact from one of National Business Capital's Business Consultants within a day.

Hunting for details

Unfortunately, this lender does not make it easy to determine more specific information about their lending programs, such as minimum or maximum loan amounts, loan terms, or interest rates. Using their Loan Calculator on the Small Business Loans page, we could assume that loans range from $10,000 to $3,000,000, that business need to have been in operation for at least a year, and monthly gross sales must equal at least $10,000 (because the sliders don't go below those amounts), but it appears that individuals seeking funding will need to speak with a representative to get more detailed information. We had to turn to a newspaper article to determine that interest rates begin around 9%, as reported by president Joseph Camberato. We would have liked to see more transparency with their programs' details, especially for those who may be hoping to create a new business and are often turned down by other lenders.

Customer testimonials

We do appreciate the fact that National Business Capital is an accredited business with the Better Business Bureau and carried an A+ rating at the time of our review with only two registered customer complaints in the last 12 months. There are also a number of compelling testimonials on the site that show great attention to customer service, success in securing funding even for struggling businesses, and repeat customers who have been thrilled with the process of obtaining funding through this lender.

Good, but room to improve

Ultimately, National Business Capital earns good marks: they appear to be a reputable lender dedicated to helping business owners across the spectrum to get the funding they need, even during times of financial difficulty. We'd gladly improve this rating with more details regarding their loan terms, particularly interest rates and other fees.

CAN Capital

Established in 1998, Georgia-based CAN Capital offers business loans ranging from $2,500 to $150,000 or more with terms from 4-24 months. CAN Capital focuses specifically on small business owners, with tools, resources, and blog posts directed towards helping them to grow their businesses and succeed.

No startups

Unfortunately, CAN Capital is not one of the lenders in our review who make business loans to startups: they require borrowers to have been in business for at least four months and have monthly revenue that is relatively stable.

48 hours for funds

The application process is relatively simple and is comparable to other lenders' in our review: enter basic information about the business, such as the gross monthly sales, number of months or years in business, and the business' location. Once the application is approved, funds can be sent is as little as two business days.

Be careful with the loan terms

While CAN Capital doesn't publish their APR during any part of quote or application process, there is a calculator that allows prospective borrowers to enter the amount of their monthly sales, the desired loan amount and term, and see the weekday payment, principal amount and the total repayment amount. Of course, this is just an estimate; the final loan offered would naturally depend on the business' history, creditworthiness, and actual loan terms. Customers should make sure to read the fine print: both when we ran our own theoretical scenarios and when we considered CAN Capital's reviews, we saw interest rates around 30%, all the way up to 85%! Given that CAN Capital focuses on small businesses, particularly those who haven't been able to qualify for a traditional loan, we wonder if such high interest rates will actually help a business to succeed instead of being overburdened with (additional) debt.

Potential downside

Another possible downside of having a business loan with CAN Capital is the effect on one's personal credit; one customer complained that CAN Capital pulled a hard inquiry on their personal credit every six months for the duration of their loan, even though the customer had no late payments or any other issues with the loan.

Overall good job

On the other hand, CAN Capital has been accredited with the Better Business Bureau since 1998 and carries an A+ rating. In our opinion, this carries a great deal of weight and would indicate that, overall, CAN Capital is doing a good job of providing loans to almost 140,000 small businesses in ways that are honest and trustworthy.

LendingClub

• Fixed-rate personal loans from $1000 to $40,000 for new/small businesses
• Fixed-rate business loans from $5000 to $500,000 for businesses with at least $50,000 in annual sales and 12+ months in operation

LendingClub isn't the peer-to-peer platform it used to be (and the reason why "club" was in its name in the first place). Instead of relying on multiple lenders/investors to fund their borrowing requests, businesses can now take advantage of LendingClub's streamlined structure that is more like a regular bank.

Loan requirements for new businesses

You'll notice that there are two options there. If you're a new business, your loan would be structured as a personal loan. In that instance, you can expect to qualify for up to $40,000 and get a loan with APRs anywhere from 8.05% to 35.89% and a one-time origination fee of up to 6%. Your rates and terms will depend solely on your personal credit. That's a nice option to have, considering that some of LendingClub's competitors won't fund you at all unless you meet certain thresholds for annual profits and time in business. Personal loans through this institution are backed by WebBank, an "A+" rated and accredited company through the BBB.

Loan requirements for existing businesses

On the other hand, if you've been in operation for at least a year and have annual sales of at least $50,000, you're eligible to apply for a business loan through LendingClub. They partner with Accion Opportunity Fund for all of their business lending.

New processes application process

If you're applying for a personal loan through LendingClub, enter the requested loan amount (between $1,000 and $40,000) and select the loan's purpose in the dropdown box, then "Check Your Rate" . LendingClub will try to verify your credit history based on your name, address, and birthdate. You'll be asked for your Social Security Number if they can't locate your credit report with the other details. If LendingClub is able to offer you a personal loan to use for your business, you'll see all of the rates and terms on the next page.

Existing business application process

On the other hand, if you qualify to apply for a business loan, you'll start in the same way: entering the amount of loan you need (up to $500,000) and choosing the category that represents how you intend to use the funds (inventory purchase, marketing, remodeling, and so on). When you click on the "Get a Quote" button, you'll be redirected to the Opportunity Fund page - which, while carrying the LendingClub logo at the top, is no longer serviced by LendingClub itself.

Still being re-evaluated by the BBB

LendingClub is still under evaluation by the BBB: because the company underwent such a major overhaul, it takes time to establish any patterns of customer complaints and responses from the business. That's all normal and not a reflection of any trustworthiness issues. Plus, LendingClub had an "A" rating prior to their restructuring.

Different reputations of backing lenders

We want to keep an eye on the different ratings of the lenders that back LendingClub's business loans. While WebBank, the partner for the personal loans required for smaller, less established businesses, has an "A+" from the BBB, Accion Opportunity Fund has a much less reassuring "B-" rating. That's not a good sign, considering that LendingClub essentially hands you off to them from the very start.

Too many unanswered questions

While we like LendingClub in general and are really encouraged to see lots of positive customer feedback coming through after the company's restructuring, we just don't feel very confident about how they're approaching business loans at this time. It's great that they have an option for newer businesses, but there are competitors who offer funding that doesn't require the sky-high interest rates of a personal loan to do it. Plus, with no servicing coming from LendingClub on actual business loans - just a transfer to Accion Opportunity Fund - we think there are plenty of other lenders out there that are more straightforward. We recommend looking at a higher-ranked financial institution for your business loan.

Advanced Commercial Capital

Based in southern Utah, Advanced Commercial Capital provides business loans through a system known as factoring: a business in need of quick cash essentially sells its outstanding accounts receivable to a financial institution (called a "factor"), and that institution buys those accounts at a discount as its fee for the service. Those fees, which would be somewhat comparable to an interest rate on a loan, typically range from 5.5% to 10%, depending on the credit risk of the invoices purchased by the factor. Those rates are significantly lower than most business loans provided by other services in our review.

Lengthy application

When deciding to work with a client, ACC looks to see if the business is essentially successful but having issues with managing their cash flow as they provide goods and/or services to stable customers with good credit. The initial application form is somewhat lengthy; prospective customers must provide detailed information regarding their business, including the structure (for example, sole proprietorship, LLC, and so on), owner(s), primary industry, and at least two trade references. Once the application has been submitted, ACC typically renders a decision within 72 hours. After receiving an original invoice and supporting documentation, businesses can expect to have the funds within 24 hours.

Several questions

When evaluating ACC's reputation as a business loan provider, we noticed several things that could be cause for concern. First, we were unable to find a Better Business Bureau rating for Advanced Commercial Capital; along with a LinkedIn profile showing that the company has 10 or fewer employees, ACC does not seem to be a key player in the business loan market. Also, both the blog and the Facebook page for Advanced Commercial Capital haven't been updated since 2014, again leaving us to wonder exactly how active ACC is within the lending market.

Still in business, at least

On a positive note, a call to the toll-free number featured prominently at the top of ACC's website was answered quickly; the representative reassured us that they are still very active in the lending industry and that they are working on updating both the Facebook page and the blog in the near future.

Specific lending solution

In summary, ACC may be a good lender for established businesses that want an alternative to a traditional business loan and interest rates that are potentially much lower than what they could obtain elsewhere. However, because Advanced Commercial Capital focuses primarily on factoring-type lending, they may not be the best fit for a large number of potential customers, especially those who are looking for startup cash.