Best Reviews TopConsumerReviews.com Best Business Loans Best Reviews
Best Reviews
      July 9, 2020

Home  >  Business Loans  >  National Business Capital vs CAN Capital

Best

Business Loans

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

Your Information Is Secure
Personal Loan Tips Newsletter

Compare Products

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

Latest Reviews

Bicycle Parts

Credit Counseling

Feather Pillows

GMAT Test Prep

GRE Test Prep

Hemorrhoid Relief

Homeschool Supplies

LSAT Test Prep

MCAT Test Prep

Senior Care

Thyroid Health

 

Individual Reviews

On Deck

Funding Circle

LendingTree

LendingClub

Kabbage

National Funding

Clearbanc

Balboa Capital

National Business Capital

CAN Capital

Advanced Commercial Capital

Capital Loan Hub

 

Our professional reviewers evaluate products and services independently, but Top Consumer Reviews may earn money when you click on the links on our pages. Learn more.

Better Business Bureau Reliability Seal

National Business Capital vs CAN Capital

Best Business Loans

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

2020

Business Loan Reviews

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.

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.

Best Business Loans

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.

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
3 stars
Can Capital

CAN CAPITAL

Visit Site

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.

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.

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!

Banks poised to reap billions in fees from small business loans

The Paycheck Protection Program helped small businesses avert mass layoffs and kept small businesses afloat during the coronavirus pandemic. It may also be a revenue windfall for banks.

Published:  Wed, 08 Jul 2020 07:55:00 GMT



Lobbyists, Law Firms and Trade Groups Took Small-Business Loans

The Trump administration began releasing details of which businesses received Paycheck Protection Program aid.

Published:  Tue, 07 Jul 2020 13:17:00 GMT



Small Business Loans Helped the Well-Heeled and Connected, Too

Congress designed the Paycheck Protection Program to help small businesses hit by the pandemic, but its $521 billion in loans also went to major law firms, wealth managers and politically connected ...

Published:  Mon, 06 Jul 2020 16:35:00 GMT



Treasury names 650,000 companies that got U.S. small business loans

The names make up less than 15% of the nearly 5 million small businesses that received forgivable, low-interest loans.

Published:  Tue, 07 Jul 2020 15:29:00 GMT



Small business program scrutinized for loans to big firms

The statute that created the program didn't place a ceiling on the amount of revenue a prospective borrower could have, and a business could get a loan even if it had access to credit elsewhere.

Published:  Tue, 07 Jul 2020 13:22:00 GMT



The billionaires who received small business loans from the government: CNBC After Hours

CNBC.com's MacKenzie Sigalos brings you the day's top business news headlines. On today's show, CNBC wealth editor Robert Frank digs into the Paycheck Protection Program's newly released data to find ...

Published:  Tue, 07 Jul 2020 19:56:00 GMT



Why Michigan GOP congressman took PPP loan for his small business

U.S. Rep. Bill Huizenga's gravel business received a $27,500 loan through the federal program aimed at helping companies avoid layoffs ...

Published:  Wed, 08 Jul 2020 16:01:00 GMT



15 of the most surprising companies that the Small Business Administration listed as paycheck protection loan recipients

Kanye, Kushner, the Girl Scouts, Burning Man, and more were listed as PPP loan recipients by the SBA. Some have disputed the accuracy of the data.

Published:  Tue, 07 Jul 2020 13:43:00 GMT



Several business say there were mistakenly included on the small business loan list

CNBC's Kate Rogers reports more details on who received small business bailout loans from the U.S. government.

Published:  Tue, 07 Jul 2020 12:02:00 GMT



Share Us!   

Home      About Us      Terms & Conditions      Privacy Policy      Contact Us      Disclosure