TopConsumerReviews.com is a world-leading consumer product review site. We provide detailed reviews and ratings for thousands of products and services.
Disclosure: 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.
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.
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.
When evaluating ACC's reputability 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.
In summary, ACC may be the perfect 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.
To help you find the Best Business Loans, TopConsumerReviews.com provides you with an in-depth Advanced Commercial Capital Review.
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.
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:
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!
Business Loans In The News
Heather MacKinnon, chief legal counsel for the state's Department of Financial Institutions, confirmed that LoanMe is no longer offering loans in Wisconsin but said regulators were not involved. "It w...
Published: Wed, 14 Nov 2018 10:00:00 GMT
All of those borrowers had their loans fully forgiven. Image Secretary of Education ... even failed institutions like the Minnesota School of Business, which shut down after a state court ruled that i...
Published: Mon, 12 Nov 2018 19:24:00 GMT
WASHINGTON (Reuters) - Loan officers at U.S. banks reported easing lending standards for commercial and industrial loans while keeping terms for commercial real estate loans almost unchanged in the th...
Published: Tue, 13 Nov 2018 11:18:00 GMT
One of these international graduates is Jaime Preusche, who financed his MBA at the University of Virginia Darden School of Business with three separate bank loans totaling $150,000. "My refinance loa...
Published: Wed, 14 Nov 2018 05:53:00 GMT
The Australian government has announced a new initiative to support small business finance following a series of steps to crack down on bank mistreatment of SMBs. Reports in Reuters said Wednesday (No...
Published: Thu, 15 Nov 2018 06:10:00 GMT
DALLAS--(BUSINESS WIRE)--Stearns Lending, LLC, a leading independent mortgage bank, today announced the close of its shared equity partnership deal with Citywide Home Loans, an independent mortgage le...
Published: Wed, 14 Nov 2018 09:00:00 GMT
The founders of MR Presta Inc., a San Antonio-based small business loan startup, are looking to capitalize on the growth of small businesses in Latin America by providing financing to underserved mark...
Published: Wed, 14 Nov 2018 08:51:00 GMT
- View Full Site -
Reproduction in whole or in part in any form without the express written consent of TopConsumerReviews.com, LLC is strictly prohibited.