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      June 4, 2020

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National Funding vs National Business Capital

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

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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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3.5 stars
National Business Capital

NATIONAL BUSINESS CAPITAL

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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.

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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.

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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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