Started in 2009 with headquarters in the New York State, National Business Capital is a corporation functioning as a network of lenders, rather than being a lender in itself: it is a top “FinTech” marketplace offering varied business loans solutions and a complete range of services, all aimed to the growth of your business.

Exploiting technology, you will be connected to 75+ lenders in real-time, so that you can have easy access to the best low-interest loans, with available longer terms that you usually would find elsewhere; you can also count on expert business financing advisors who will be at your side whenever you need.

Why choosing National? Because you can have the flexibility to compare offers from multiple lenders with a single simple and fast application and there are no restrictions as for the industry you are in; besides, you have a multitude of products that can suit the most varied needs, you are readily assisted by a competent and friendly staff, and may be funded within 24 hours.

Your application is submitted to multiple lenders who will make their offers, based on your information including business industry, its age, and revenue, with a soft credit score check: all this will ultimately determine eligible loan amounts and terms.

The company can’t declare APR or fees, because they will depend on the lender who can accept your status. With the final application, you will eventually be required more information from the lender of choice, such as profit and loss statements or a business plan.

National commits to respecting your privacy since more parties will share your personal details; anyway, by compiling the first form you won’t have to submit sensitive data, such as Social Security Number or home address.

A thing you won’t easily find in other companies is that lenders who are connected to National Business Capital can grant loans to whatever your industry, even to on the rising cannabis.

Besides the conventional term loan, the company offers a range of other financial products such as revolving lines of credit, fast SBA loans, cash advances, invoice factoring, and equipment financing. This makes it one the most comprehensive business loans lender on the market, to the benefit of business owners who have more than just one need during their career.

In general, for qualifying with National you will need: 6+ months in business, $100K in annual gross sales, no minimum credit (FICO) score requirement.

Depending on the single product, there are slightly different conditions. Here is a sheet of what you will find.

In the phase of application, you will be also required bank statements from the last 3 months, but no tax returns exhibition.

As you can see, you have way greater borrowable limits and longer terms among our chosen lenders (and in general). Another perk is that National doesn’t require collateral or a personal guarantee, which is relieving especially for recent business owners who can’t provide assets.

• “Term” or small business loan can be used for every business size and maturity, so if you are a startup you can use it as well, for pretty much everything such as buying equipment, hiring staff, renovations, working capital-related expenses, expansion, or investing in opportunities.
• The revolving business line of credit gives you quick access to cash, borrowing as many times as you want; it is ideal for financing regular expenses and preserving the cash flow.
• An SBA loan demands typically more time to obtain the funds, from 45 days up to 6 months; the National’s Hybridge SBA loan revolutions the loans market, being able to accelerate the process and make it easier, compared to the same service through banks or private lenders. With an Hybridge loan, you have lower rates and longer terms than non-SBA loans, with the additional benefit that waiting times to be funded are cut to a minimum: you receive a portion of the requested amount (the “bridge capital”) in as little as 24 hours, then within 45 days you get the remainder so you can immediately go on with your business. Moreover, this will actually lower the cost of your loan.
• Equipment financing. With such a dedicated loan, you can choose your vendor and pay it up to 100% for the necessary equipment, with no upfront fees; you can obtain the needed capital within a minimum of 24 hours, and have customizable options to repay. The National’s “eQuickment Financing Product” allows an even faster and simplified process of qualification and funding, no additional documents for purchases under $75,000 and a borrowable amount up to $250,000, by which you can pay for the entire supply, deposits and taxes included.
• Accounts receivable financing: you sell your customers’ invoices and receive cash in turn, from 80-95% of their value. This acts as a line of credit, ideal if you already have (or are likely to) gaps between their payments, keeping a steady cash flow, and better payroll management, which is important for your business growth.
• Performance Advance is the National merchant cash advances product: as you get paid from your day-to-day sales, you repay your loan, so you have not to follow a fixed schedule. Based on your business performance, even with a low credit score, you can qualify to borrow up to double of what you would normally ask, virtually accessing huge amounts, with approval and funding possibly in the next day.

Besides these, the company has a plethora of other business loans, both secured and unsecured, that can cover whatever specific need you may have, including franchise financing, startup loans, veteran loans, business loans tailored to women.

So, let’s consider why National Business Capital can be ideal for you.

Pros:

• Exposure to multiple lenders means access to lower rates
• Fast processing with paperwork kept at a minimum
• Fast funding timing, even with an SBA loan
• No minimum credit score generally required
• Financing specialists available for support
• Plenty of financing options and business services
• Top customer service
• Mostly positive customers’ experience

Cons:

• APRs are not declared before applying
• Requirements of annual revenue might be considered high
• Possible flooding with marketing materials and loans offers

Mind that your final APR and remainder conditions of the loan will be established through a contract with one of the lenders in the network, and your repayments will be addressed to the latter, not to National. Your credit score check is done exclusively with a “soft pull”.

The online application is one of the most streamlined you can find: it may take less than one minute, then a financial advisor will get in touch within 24 hours to discuss your needs and clarify any doubt; you will be matched with more than 75 lenders that are in the network, and receive quotes. You will be guided by the specialists in selecting the single offer that is more suitable for your business, and finally, you are funded within a few business days or even hours.

Best for businesses with fair and poor credit scores.

Fresh Funding was formed in 2017 and has its place in New York City; despite its young age, has gained a reputation in the business loans panorama, receiving a substantial amount of positive feedbacks, above all on the customer service which is friendly and reliable, with an extensive interaction component.

The company’s philosophy is recognizing that no two business circumstances are equal, so they offer tailored solutions based on the amount to borrow, uses, needs, and repayment options: you will receive funds fast to ensure that your business is not lagging. If you want to purchase equipment, sustaining expenses, expand, or for acquisition purposes, you will get what it takes.

One of the most beneficial aspects of choosing Fresh Funding is the readiness and competency of its customer service team: they can deal with the multiple needs of business owners, regardless of which level their business is. If you have a subpar credit history, you will always find a member of staff who is willing to assist you to obtain the best deal.

Fresh Funding can lend amounts in the range of $5,000 to $500,000, providing six types of loans in total, some of which are very specific:

• Business line of credit. A line of credit is useful whenever you need a constant cash flow, to fill its gaps and requireS that your business is currently performing well, giving the proceeds necessary to make the repayments; once they are done, you can again borrow from the credit, just like a credit card. You have up to $100,000 available, there are no collateral or early repayment fees; you pay only for what you use.
• Working capital loan. This kind of financing helps your business keeping up with upcoming expenses such as wages of employees, taxes, bills, etc. You can borrow up to $250,000 on a maximum short-term up of 18-month, and no personal guarantee is required.
• Business cash advances. As you make sales, a percentage portion of those is used to repay the loan, although several industries can’t be served with this option. A cash advance gives you rapid access to funds, with approval within 4 hours, and your repayment is automatically set up from a bank account where the loan amount is deposited: you can receive up to $150,000, without collateral or any guarantee. As for cash advances, Fresh Funding offers four levels of financing, which you can see in the table:

“Factor rate” is an interest applied to the borrowed amount.

• Short-term business loan: if you need a lump sum fast, with repayment to be done within 12 months.
• Inventory loan: made for the specific purpose of purchasing inventory, which also acts as collateral if you couldn’t afford to repay
• Medical/dental (practice) loan. This is geared toward owners who are in the medical business, or willing to get started with; funds are used to finance equipment and everything is needed; your eligibility will depend on the level of health of your practice and credit history.

The repayment frequency will be weekly or daily, according to loan type and terms.

So, whatever is your business-related need, Fresh Funding seems to have the right solution, and its staff is always ready to explain everything to you before applying and to guide you through application afterward. Your pricing will be revealed after having determined which option is best for your circumstances.

Unlike most lenders, a considerable edge of choosing Fresh Funding is that its products are unsecured loans, meaning the absence of requirements for collateral or guarantee, with little exceptions: if you are the owner of a new business, whereas you can’t provide assets as a guarantee of repayment, Fresh Funding loans can fit perfectly.

Fresh Funding offers a pre-qualification process, during which you can be assisted in person by field experts; your credit score won’t be affected by such an operation. The first online form is a simple form asking to provide general information: at completion, you will be contacted by a funding specialist, who will eventually assist you with clarifications about products and the documentation required to close the full application.

Your applications will require a minimum of 3 months of bank statements; the approval and funding happen the same day: the company is quite transparent in it is committed to delivering the product with great timing. Many business owners can only be satisfied with this perk, since they may not tolerate potential delays that might cost whatever losses to their businesses.

Here is a summary of what to consider about this company.

Pros:

• Outstanding customer service
• 24-hour approval
• Quick funding process (within max 36 hrs)
• Flexible overall, especially about repayment terms
• Face-to-face interaction with specialists
• 4-month in business as the minimum allowed

Cons:

• Repayment frequency is weekly or daily
• Rates and fees are not visible before application
• Some products description on the website is lacking
• Shortage of reviews, present only on the company website

Fresh Funding team strives to be professional all the time, and they can be reached in more ways: by phone, email, or social media such as Facebook. At now, probably because they are a recently born company, there aren’t reviews from sites like TrustPilot or BBB, but that doesn’t mean you should discard the company. The old-style phone call is still the best way to get in touch, and you will at the very least find competency, clarity, and a stress-free process of eventual applying.

Fresh Funding is definitely a first-level choice if you have less than good credit, different exigencies, and/or you are in a rush needing to keep up with your business operations soon while having valuable human support by your side.

BlueVine

Overview: Best for low-revenue businesses and fast funding.

Founded in 2013, BlueVine is an online lender that provides a range of banking services to small businesses, including loans of two types: a line of credit and invoice factoring.

Where the company definitely stands out is the fast and ease of its funding process, which is also made user-friendly through a web entirely dedicated front-end. The evidence of such a strong point stems from the abundance of positive customer reviews.