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      June 4, 2020

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National Funding vs Advanced Commercial Capital

Best Business Loans

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

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Best Reviews

2020

Business Loan Reviews

4 stars
National Funding

NATIONAL FUNDING

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Since getting its start in 1999, National Funding has provided over $3 billion in loans to more than 50,000 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.

Impressive lending options

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

  • Business Loans for Bad Credit
  • 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
  • Merchant Cash Advance

Wide range of loan amounts

National Funding offers one of the widest ranges of loan amounts for businesses: $5000 to $500,000. Many of their competitors come up short on one end of that spectrum (they only offer loans of at least $15,000, or they don't go beyond $200,000), making this lender a great possibility for a higher number of businesses of all sizes. However, be aware that you will have to have a minimum gross sales amount of $100,000 in order to qualify for any loan with National Funding.

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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; as long as you meet that threshold of $100,000 per year, you will probably still receive funding.

Fast funding

A big perk of getting a business loan from this lender is fast funding. After approval, you could have access to your loan amount in 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, and over 1200 client reviews this service has earned a strong 4.5 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.

Lack of loan details

The biggest reason National Funding didn't rank higher in our reviews is because they don't offer specific details about interest rates, repayment terms, or fees. With so many providers of business loans available today, most clients prefer transparency before giving their details to a prospective lender - so we'd love to see National Funding getting a little more specific about what business owners might be able to expect (even if it's just an estimated APR range or approximate fees based on the total loan amount).

Good custom loan solution

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.

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2.5 stars
Advanced Commercial Capital

ADVANCED COMMERCIAL CAPITAL

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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. 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.

Spcific 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.

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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!

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