Best Reviews TopConsumerReviews.com Best Business Loans Best Reviews
Best Reviews
      September 19, 2018

Home  >  Business Loans  >  LendingClub vs National Business Capital

Best

Business Loans

  1. Funding Circle
  2. LendingClub
  3. LendingTree
  4. Kabbage
  5. Fundia
  6. Balboa Capital
  7. Nat Business Capital
  8. CAN Capital
  9. Advanced Comm Capital
  10. Capital Loan Hub

Compare Products

  • Select any 2 companies in our reviews to compare them head-to-head!
  • Compare

Your Information Is Secure
Personal Loan Tips Newsletter

Latest Reviews

Acne Products

Coffee Clubs

Company Incorporation

CPA Exam Reviews

Credit Repair Companies

Dog DNA Testing

LLC Formation

Meal Delivery Programs

People Search

Pet Insurance

Wholesale Dropshippers

 

Individual Reviews

On Deck

Funding Circle

LendingClub

Lending Tree

Kabbage

Fundia

Balboa Capital

National Business Capital

CAN Capital

Advanced Commercial Capital

Capital Loan Hub

 

Disclosure: We pay our reviewers for their reviews. We are not compensated by companies for their reviews, but we may be compensated for links and advertisements on our website. Click here for details.

Better Business Bureau Reliability Seal

LendingClub vs National Business Capital

Best Business Loans

To help you find the Best Business Loans, TopConsumerReviews.com provides you with an in-depth comparison of LendingClub and National Business Capital.

To see ALL of our reviews for the Best Business Loans, please Click Here

With all the difficulties in today's economy, many people are choosing to open their own business instead of working for a traditional employer. Whether you're just starting your business, expanding your already-established business, or even hanging out a shingle as an online company, it's likely that at some point you'll need a business loan to successfully meet your customer's needs and your business goals.

In the past, small business owners relied heavily on traditional brick-and-mortar banks in order to finance their business loans. Often that meant that borrowers had to rely on their own reputation and relationship with their local bank. Getting the lowest possible interest rate was also more challenging, since there were few lending options from which to choose.

Continue reading below reviews

Best Reviews

2018

Business Loan Reviews

4.5 stars
LendingClub

LENDINGCLUB Visit Site

LendingClub is known as a peer-to-peer lending company. They match borrowers looking for loans between $5,000 to $300,000 with offers from several different lenders. LendingClub has one of the lowest rates available for business loans, starting at 6.16% and going up to 35.89%. LendingClub has an A rating with the Better Business Bureau and has helped facilitate more than $16 billion in loans.

LendingClub has several requirements for those wishing to take out a business loan:

  • At least $75,000 in annual sales
  • 2+ years in business
  • Own at least 20% of the business
  • No recent bankruptcies or tax liens
  • Fair or better personal credit

As with most lenders, the best LendingClub business loan rates are available to those with excellent credit and an established business history.

Applying for a loan is simple:

  • Enter the amount you want to borrow, the purpose of the loan (debt consolidation, equipment purchase, and so on), and your business' information (for example, address, years in operation, number of employees, and structure, such as LLC, sole proprietorship, and so on)
  • LendingClub will verify your business' identity and creditworthiness
  • After verification occurs, your loan and loan terms will be available for you to select from
  • Select your loan
  • LendingClub authenticates your bank account
  • You receive your funds

The size of your loan and your business history can have an effect on the turnaround time of your loan, but many customers receive their loans within a week or less. LendingClub's Client Advisors are also available Monday through Friday from 6am-5pm Pacific Time, to answer any questions you may have about the lending process. Your loan request will be listed on the LendingClub website for up to two weeks, or until lenders are willing to fully fund your request.

Taking out a business loan typically comes with fees beyond the interest paid on the loan itself. At LendingClub you should expect to pay an origination fee from 1% to 6% of the loan amount, depending on your loan and loan terms. For example, if your business loan is $100,000, your origination fee would be somewhere between $990 and $6,990.

If you need a business loan to grow your company, LendingClub offers highly competitive rates and an uncomplicated application process, backed by years of successful lending to numerous businesses around the country.

Visit Site

3.5 stars
National Business Capital

NATIONAL BUSINESS CAPITAL Visit Site

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.

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.

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.

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.

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.

Visit Site

Continued from above

Fortunately, business owners today can choose among many lenders to find the best terms and interest rates available. In addition to the old local options, small business borrowers now have much more and better choices through various lenders on the Internet that specialize in small business loans.

There are many factors that you should consider before selecting a lender for your business loan. Some of these include:

  • Loan size and rate. How much will you be allowed to borrow? What interest rates do they typically offer on loans of that size?
  • Loan application process. When applying for your business loan, can it be completed online? Is the lending process easy and straightforward?
  • Requirements for business history. Can a brand-new business take out a loan, or is there a minimum time that the business must have been in operation in order to qualify? What other verification and/or collateral is required to secure the loan?
  • BBB rating. Does the lender have an established history of good business practices?

TopConsumerReviews.com has reviewed and ranked the best Business Loan programs available today. We hope this information helps you find the best loan for your small business at an affordable rate!

Storefront lender accused of pushing customers into taking out big loans without interest rate caps

California regulators want to seize Cash America Advance's license, alleging the storefront lender duped customers into taking out installment loans with triple-digit interest rates. The California De...

Published:  Mon, 17 Sep 2018 21:50:00 GMT



Wells Fargo Faces New Challenge as Business Loans Decline

After facing problems in its consumer lending operations, Wells Fargo's (WFC - Free Report) commercial lending business is also plagued with challenges now. At the Barclays 2018 Global Financial Servi...

Published:  Mon, 17 Sep 2018 06:24:00 GMT



Loomis Sayles Announces Senior Loan Portfolio Manager Retirement

Kevin Perry, portfolio manager on the senior loan team to retire in March 2019 Portfolios will be jointly managed by portfolio managers John Bell and Michael Klawitter BOSTON--(BUSINESS WIRE)--Loomis, ...

Published:  Tue, 18 Sep 2018 07:43:00 GMT



I'm a 27-year-old trying to launch a side hustle and pay back $25,000 in student loans - here's how I spend my money during a typical week

Since I want to avoid business debt and keep my monthly business expenses ... I pay at least $240 a month toward my student loans. I graduated with about $25,000 in student loan debt. This could have ...

Published:  Fri, 14 Sep 2018 16:12:00 GMT



HFF Miami Team Secures $41M Loan for Cardinal Point's First South Florida Acquisition

About 68 percent of the loan - $32.4 million - was applied to the purchase ... Cardinal also will open a business center on the ground floor next to the lobby where tenants can hold meetings and confe...

Published:  Tue, 18 Sep 2018 08:38:00 GMT



Morris Loan and Investment celebrates 80 years in business

In the waning years of the Great Depression, just three years before the United States entered World War II, 37-year-old Herman Azell Morris launched Morris Loan and Investment in Springfield. Eighty ...

Published:  Sun, 16 Sep 2018 14:03:00 GMT



NHI lands $300M loan

Executives of National Health Investors have finalized a $300 million, five-year term loan and paid down some of their revolving debt. Murfreesboro-based NHI struck the deal with a bank group led by W...

Published:  Tue, 18 Sep 2018 10:30:00 GMT



Highway 14 bridge work starts in Black Earth; state to provide no-interest business, home loans for flood victims

Two bridges in northwestern Dane County that were washed out by recent flooding are scheduled to be repaired by November, Gov. Scott Walker said Friday. Walker announced $2.8 million in emergency ...

Published:  Sat, 15 Sep 2018 04:15:00 GMT



Size and prodding lead to Stifel bank's rapid loan growth

This year it closed on the purchase of The Business Bank of St. Louis, renamed Stifel Bank. As for the increase in C&I loans, Stifel Bank & Trust CEO Chris Reichert said the bank's increasingly large ...

Published:  Fri, 14 Sep 2018 11:57:00 GMT



Share Us!    Share TopConsumerReviews.com on Twitter Share TopConsumerReviews.com on LinkedIn Share TopConsumerReviews.com on Google+ Share TopConsumerReviews.com on Pinterest

Home      About Us      Terms & Conditions      Privacy Policy      Contact Us      Disclosure