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Everest Business Funding business loans review

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Merchant cash advances up to $500,000, but be wary of poor customer service.

Everest Business Funding’s merchant cash advances could be an option for businesses that depend on customer sales and have a hard time qualifying for more traditional forms of business financing.


Min. Amount


Max. Amount


Product NameEverest business loans
Min. Amount$5,000
Max. Amount$500,000
RequirementsPresent bank statements, tax returns and sales record.

First, do I qualify?

Unfortunately, the easiest way to know if your business is eligible is by filling out the prequalification application. There’s limited information online and it’s difficult to get in touch with a customer service representative that can give details about the loan.

However, Everest Business Funding indicates that it’s not difficult to qualify — it boasts a 95% acceptance rate on its site. It’s also open to some industries that lenders typically consider high risk like restaurants, healthcare companies and construction businesses.

What is Everest Business Funding?

Everest Business Funding is an online direct lender that offers merchant cash advances. These range from $5,000 to $500,000 though how much your business can qualify for typically depends on its sales volume.

Everest Business Funding doesn’t reveal much else about its loans, unfortunately. With this type of financing, lenders typically add a fee to the loan amount, which business owners are on the hook to pay back with a percentage of daily sales.

What makes Everest Business Funding business loans unique?

Everest Business Funding business loans could be a good option if you’re having trouble getting approved for financing. While it offers limited information before you apply, its positive customer reviews and reportedly high approval rate might be the solution your business needs. Its 24-hour turnaround time could also make it an option if your business needs emergency cash.

What are the benefits of an Everest Business Funding loan?

  • Large amounts available. Everest Business Funding offers business loans up to $500,000 — a lot for an online lender.
  • High approval rate. This lender claims to approve 95% of applicants.
  • Fast funding. Your business might be able to get its funds in as little as 24 hours.
  • Open to high-risk industries. Restaurants, construction companies and those in healthcare are just some of the high-risk businesses that Everest Business Funding works with.
  • Referral bonus. Your business can get $1,000 per partner it refers as long as it gets approved for financing.

What to watch out for

  • Limited information available. Everest Business Funding doesn’t disclose rates, fees, terms or eligibility requirements on its site. It also isn’t totally clear that it even offers merchant cash advances.
  • Out-of-date site. The customer service line on its application that’s supposed to put you in touch with a funding specialist actually leads to the HR training department as of June 2018.
  • Poor customer service. We were hung up on three times when we called to get more information about the merchant cash advance.

Compare more business loan providers

Data indicated here is updated regularly

Name Product Filter Values Loan amount APR Requirements
First Down Funding business loans
$5,000 – $300,000
Fee Based
At least 1 year in business, an annual revenue of $100,000+, and a minimum credit score of 400
Alternative financing up to $300K with highly competitive rates.
Lendio business loans
$500 – $5,000,000
Starting at 6%
Operate business in US or Canada, have a business bank account, 560+ personal credit score
Submit one simple application to potentially get offers from a network of over 300 legit business lenders.
ROK Financial business loans
$10,000 – $5,000,000
Eligibility criteria 3+ months in business, $15,000+ in monthly gross sales or $180,000+ in annual sales
A connection service for all types of businesses — even startups.
OnDeck small business loans
$5,000 – $250,000
As low as 9.99%
600+ personal credit score, 1 year in business, $100,000+ annual revenue
A leading online business lender offering flexible financing at competitive fixed rates.
Rapid Finance small business loans
$5,000 – $1,000,000
Fee based
Steady flow of credit card sales, bad credit OK

Compare up to 4 providers

What do customers have to say about Everest Business Funding?

Everest Business Funding gets mixed online reviews. As of June 2018, it gets an A- rating from the Better Business Bureau (BBB), which it is not accredited with. The BBB bases its ratings on factors like advertising practices and how it handles customer complaints filed with the bureau. Everest Business Financing didn’t resolve six out of the nine complaints filed against it over the past three years.

There are only two customer reviews on the BBB page, both negative. Everest Business Funding does better on Trustpilot, scoring an 8.1 out of 10 based on 19 reviews. Only 68% of reviewers rated it as “Excellent.”

Borrowers were mainly happy with the quality of service and how quick it was to get funds. One complained that Everest Business Funding didn’t disclose all fees, while a couple of others complained about the lack of customer service when things went wrong.

How do I apply?

Everest Business Funding’s application is online. Filling it out only takes a few minutes to complete and if approved, your business could get funding in as little as 24 hours.

Steps to apply

  1. Go to the Everest Business Funding site and click Get Pre-Approved.
  2. Fill out the quick online form and hit Get Funded.
  3. Wait for a funding agent to get in touch to guide you through the rest of your application.
  4. Upload any documents and provide additional information as directed.
  5. Review and sign your loan documents.

Unfortunately, the agent support line 305-224-1281 is out of date — it leads to the HR training department. If you have any questions, you might want to reach out by calling 800-619-2943, the toll-free number at the top of most Everest Business Funding pages.

Typically, businesses can get funding in as little as 24 hours after completing the online application.

What documents do I need to apply?

While Everest Business Funding doesn’t give any specific information on the documents it requires, you might be expected to provide the following:

  • Business bank statements. Almost all online lenders ask to see at least the past three months of business bank statements.
  • Sales records. Since Everest Business Funding puts a heavy emphasis on cash flow in the approval process, it might also ask to see your credit card and other types of sales records over the past few months.
  • Tax returns. Lenders typically ask to see at least one year of business tax returns, especially for loans in larger amounts and longer terms.

How to apply step-by-step with screenshots

I got the Everest Business Funding business loan. Now what?

Everest Business Funding doesn’t say much about how repayment works. However, most merchant cash advance providers start deducting a percentage of your business’s daily sales once you’ve received your funds. This is automatic, so you won’t need to take the time to calculate and make repayments every day.

Keep tabs on your business bank account, credit card sales and your loan balance. If you notice anything off, reach out to customer service as soon as possible — it might take some time to get through.

Bottom line

With little online information and poor customer service, it’s difficult to know what you’re getting into with Everest Business Funding. However, the handful of customers who reviewed it online were mostly pleased with their experience. It might be worth looking into particularly if your business has had trouble qualifying for funding in the past.

You also might want to compare more business lenders before settling on one option. You can get started by checking out our guide to business loans.

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