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First Capital Business Finance alternative business loans review

Working capital loans and more for all industries and credit types — though they don't come cheap.

  • Best for business owners with bad credit looking for a short-term loan.
  • Pick something else if your business can qualify for more transparent terms.
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Min. Amount$5,000
Max. Amount$2,000,000
Loan Term3 to 24 months
Min. Credit Score500
RequirementsIn business for 6+ months, $150,000+ annual revenue, 500+ personal credit score

How much will this loan cost me?

First Capital Business Finance and its partner lenders offer unsecured short-term working capital loans. These function like a cross between a term loan and a merchant cash advance: Your business borrows a fixed amount, which it pays back plus a fixed fee in daily repayments automatically withdrawn from your bank account.

Its terms are short, ranging from three months to two years. Loan amounts range from $5,000 to $2,000,000 — but businesses typically qualify for a loan equivalent to average monthly sales.

Use the calculator below to estimate how much your business can afford to make sure the loan you get fits your monthly budget.

Business loan calculator

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How it works

Your total loan cost is determined by multiplying it by a factor rate of 1.9 to 3.3. So if you borrowed $10,000, your business would be on the hook for between $19,000 to $33,000.

Businesses with higher revenue and better personal credit will likely qualify for lower rates. If you and your business just meet First Capital’s minimum requirements, you may be charged more or be offered a smaller loan.

What do I need to qualify?

To qualify for a loan from First Capital Business Finance or one of its partners, you and your business must meet these basic requirements:

  • In business for at least six months
  • At least $10,000 monthly revenue
  • Personal credit score of at least 500

What information do I need to apply?

First Capital Business Finance only requires business owners to submit the most recent six months of business bank statements. It uses this to evaluate your business’s cash flow and to determine how much your business is eligible to borrow. Tax returns aren’t necessary, however, other documents may be required depending on the type of financing your business needs.

What industries does First Capital Business Finance work with?

First Capital works with businesses in high-risk industries, including:

  • Health care
  • Waste management

This is not a complete list. To see if your business qualifies, reach out to a First Capital representative.

What other types of financing does First Capital offer?

First Capital Business Finance offers a variety of loan options. Exact terms will depend on your business and financing needs.

Equipment financing

$5,000 to $5 million

1 to 6 years

No minimum requirement

None stated

Merchant cash advances, referred to as unsecured business loans by First Capital

$5,000 to $2 million

3 to 24 months

4 to 12 months


Invoice factoring

Up to 90% of invoice

Based on invoice terms of payment

None stated

None stated

Purchase order financing

Up to 100% supplier costs


None stated

$50,000 in sales


  • Small loans of $5,000 available
  • Startups may qualify
  • Accepts bad credit and recent bankruptcies


  • Potentially high APR
  • Turnaround takes up to seven days
  • May act as a connection service, not a lender, depending on the type of financing and your business’s qualifications

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Is First Capital Business Finance legit?

First Business Capital has an encrypted website to keep your information secure when you enter it. And its privacy policy covers how it collects and uses your personal information.

However, while it won’t sell your information, it isn’t clear on how you can stop it from sharing your information to third parties — or how you can withdraw consent. Reach out to First Capital for more details on how it keeps your identity and business safe before you apply.

First Capital Business Finance may not have proper licensing

The state of California requires businesses to obtain a license from its Department of Business Oversight (DBO). According to the Better Business Bureau, First Capital doesn’t have the proper licensing in place — a red flag for any business hoping to borrow from a legit lender.

First Capital Business Finance reviews and complaints

BBB accredited No
BBB rating
BBB customer reviews 5 out of 5 stars, based on 1 customer reviews
Customer reviews verified as of 13 October 2020

First Capital only has one review — from 2018 — on its BBB page and has no complaints listed against it. This makes it hard to determine what customers think about its services. Other sources, like reviews listed on Google, tend to rate First Capital positively and praise its customer service. But there are some customers who complain about the high rates and others who were denied a loan despite being approved by other lenders.

How do I get started?

First Capital Business Finance doesn’t have an online application, but you can get in touch by following these steps:

  1. Visit the First Capital Business Finance website.
  2. Enter your name, business name, phone number and email into the contact form.
  3. Select the type of financing you want and click Apply now.

A representative will reach out to you by phone or email to discuss your options. Or if you prefer, you can call First Capital or download an application from its website. Applications can then be sent by fax or text.

What happens after I apply?

It typically takes around two days to hammer out the details and complete the application process. If your loan is approved, funding may take up to five days.

How do repayments work with First Capital Business Finance?

Your repayment options will depend on the type of loan you borrow. First Capital Business Finance isn’t upfront with the repayment process, so you’ll need to go over it with a representative if you decide to apply.

For working capital loans and equipment loans, you should expect monthly repayments. For short-term loans, you may be required to make daily or weekly repayments.

If you have good credit, it may be worthwhile to consider more business loan options and find a lender that offers more transparent terms at lower rates.

Frequently asked questions

Review by

Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1,000 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.

Expert review

First Capital Business Finance is a good choice for business owners with poor credit, startups and businesses in high-risk industries like cannabis. Because it functions as a direct lender and a connection service, you may be able to find funding for your business even if you’ve struggled in the past. And it has relatively high loan amounts for a term loan — up to $2 million.

But it isn’t up front about how much it charges for a loan. Its poor website design and lack of licensing in California are also bad signs, so it likely shouldn’t be your first choice when you’re looking for funding. To top it off, there is no online application. You’ll need to call First Capital for more information on how to apply.

Before you commit, compare more business financing options.

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