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First Union Lending business loans review

Pick from a variety of loan options — but be prepared to reach out for more details.’s rating: 4.3 / 5.0


  • Best for business owners who want help navigating the borrowing process.
  • Pick something else if you need money fast — it can take up to two weeks to fund your loan.


Min. Amount$5,000
Max. Amount$5,000,000
Loan Term36 to 84 months
Min. Credit Score450
APRStarting from 6.75%
Requirements450+ credit score, 1+ year in business, $25,000+ monthly revenue, no open bankruptcies

How much will this loan cost me?

First Union Lending’s term loans last between three to seven years. Loan amounts run from $5,000 to $5,000,000 — but your business will likely only qualify for a loan up to eight times its monthly revenue. Rates start at 6.75%, and First Union Lending doesn’t list the types of fees it charges.

You can use the calculator below to estimate your monthly payments and ensure a loan from First Union Lending fits your business’s budget.

Monthly repayments calculator

Calculate how much you could expect to pay each month

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How it works

Your loan terms will be based on your business’s financial situation and your personal credit score. If you only just meet First Union Lending’s minimum requirements, you’re unlikely to qualify for its low starting rates — and may not qualify for a long-term loan at all. If you have a higher credit score, decent revenue and an established business, you may be able to score a larger loan at a competitive rate.

What do I need to qualify?

You must meet the following requirements at a minimum to qualify for a business loan from First Union Lending:

  • At least a 450 personal credit score
  • In business for at least three months
  • At least $15,000 monthly revenue
  • No open bankruptcies

What information do I need to apply?

To complete First Union Lending’s online application, you will need to submit the following information:

  • Last month’s revenue
  • Annual revenue
  • EIN or tax ID number
  • Social Security number
  • Date of birth

You may also need to submit the last six months of your business bank states and credit card processing statements, if applicable.

What industries does First Union Lending work with?

First Union Lending bills itself as an alternative lender, but it isn’t clear which industries it works with. If your business is involved in a nontraditional field, like cannabis or adult entertainment, reach out to a representative to see if First Union Lending can provide financing.

What other types of financing does First Union Lending offer?

Beyond term loans, First Union Lending offers seven other options — but rates and terms will depend on your business’s financial situation.

  • SBA Express loans
  • Short-term loans
  • Commercial real estate loans
  • Lines of credit
  • Business debt consolidation loans
  • Bridge loans
  • Equipment financing
  • Invoice factoring


  • Borrow up to eight times your monthly revenue
  • All credit types OK
  • Works with new businesses and startups


  • Limited information available online
  • Potentially long turnaround of three days to two weeks
  • May act as a connection service, not a direct lender

See other top business loan options

Name Product Filter Values Loan amount APR Requirements

Fora Financial business loans
Finder Rating: 4.1 / 5: ★★★★★

Fora Financial business loans
$5,000 – $500,000
6+ months in business, $12,000+ monthly revenue, no open bankruptcies
Get qualified for funding in minutes for up to $500,000 without affecting your credit score. Best for companies with at least six figures in annual revenue.

Lendio business loans
Finder Rating: 4.75 / 5: ★★★★★

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.

National Funding business loans
Finder Rating: 4.75 / 5: ★★★★★

National Funding business loans
$5,000 – $500,000
4% to 8%
Be in business at least one year and make at least $150,000 in annual sales. Other loan types have additional requirements.
Working capital loans and equipment financing, some high-risk industries may be eligible.

Fundbox lines of credit
Finder Rating: 4.2 / 5: ★★★★★

Fundbox lines of credit
$1,000 – $150,000
Not stated
6 + months in business, $100,000+ in annual revenue, 600+ credit score
Get flat rate, short-term financing based on the financial health of your business, not your credit score.

Bitty Advance business cash advances
Finder Rating: 2.8 / 5: ★★★★★

Bitty Advance business cash advances
$2,000 – $25,000
Not applicable
$5,000 monthly bank revenue, 6+ months in business, business bank account open 3+ months, 450+ credit score
With APRs in the triple digits, this is best saved as a last resort.

Compare up to 4 providers

Is First Union Lending legit?

Yes, First Union Lending is a legit lender. While it has a short privacy policy page, it covers all the basics: How your information is collected and used, how it is shared and how it keeps it safe when you submit it through the online application. First Union Lending’s website is encrypted, and contact First Union Lending to have your information changed or removed.

First Union Lending reviews and complaints

BBB accredited Yes
BBB rating A+
BBB customer reviews 4.1 out of 5 stars, based on 9 customer reviews
Trustpilot Score 4.5 out of 5 stars, based on 24 customer reviews
Customer reviews verified as of 12 October 2020

Borrowers are particularly happy with the quality of customer service, and many mention going back to the same loan specialist multiple times. The few negative reviews claim First Union Lending was misleading about rates and terms, or that they didn’t hear back after they applied for a loan.

How do I apply?

To apply online, follow these steps:

  1. Visit First Union Lending’s website and click Apply today.
  2. Select your desired turnaround time and the general purpose of your loan, then enter your loan amount, previous month’s revenue and annual revenue.
  3. Enter your business’s name, your name and your contact information.
  4. Enter information about your business and yourself, including your business’s tax ID number and your Social Security number.

What happens after I apply?

When you submit your application, a representative from First Union Lending should reach out to you to discuss your options. Its online application is general, so you may need to specify what type of loan you’re looking for and your desired terms.

How do repayments work with First Union Lending?

Term loans typically come with monthly repayments, though some businesses might be on the hook for bimonthly, weekly or even daily repayments. Some loans might also come with biyearly repayments, though these are only available to businesses in specific industries.

If you signed up for the interest-only loan, consider making extra repayments toward the principal when you can to lower your total loan cost. And if you have any questions or concerns about your loan, reach out to customer service as soon as possible.

See how First Union Lending stacks up to the competition with our guide to business loans.

Frequently asked questions

Business loan ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We rate business loan providers on a scale of 1 to 5 stars based on factors like transparency, costs and customer experience. We don't take into account elements like eligibility criteria, state availability or payment frequency — we save that for our reviews.Read the full methodology of how we rate business loan providers to get a better picture of what goes into each star rating.

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 Union Lending can help you choose a loan product that’s right for your business — most online reviews are from repeat customers who praise the quality of its customer service. It’s willing to work with business owners with less-than-perfect credit, and your business only needs to be around for three months to qualify.

However, the turnaround time of up to two weeks on its long-term unsecured loans might make other providers a better choice if speed is your top priority.

Not sold on First Union? You can compare your other business loan options and find the best fit for your business.

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