National Business Capital business loans review December 2018 | finder.com

National Business Capital business loans review

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Get funding for your business with high maximum loan amounts and minimal restrictions.

Lenders offering business loans can be very selective, and an inability to get a loan can crush your company’s potential for growth. National Business Capital can connect you to financing, regardless of your perceived risk, so you can get the working capital you need to develop your business. However, high factor rates might make your loan difficult to repay.

Product NameNational Business Capital Business Loans
Min Loan Amount$10,000
Max. Loan Amount$5,000,000
Interest Rate TypeFixed
Minimum Loan Term.25 year
Maximum Loan Term25 years
RequirementsYour company must have been in business for at least 6 months and have an annual revenue of at least $180,000.
  • Must have been in business 6+ months
  • Annual revenue of $180,000+
  • Must provide a personal Social Security number after prequalification

Do I qualify?

To qualify for a business loan from National Business Capital, your company must meet two basic requirements:

  • It must have been in business for at least 6 months
  • It must have a minimum annual revenue of $180,000

If you’re a new business owner, you must have a credit score of at least 680 in order to qualify for startup financing.

What makes National Business Capital business loans unique?

National Business Capital connects you to a marketplace of lenders. Business owners who may not qualify for a loan from a traditional bank could benefit from this service. National Business Capital has approved applications from business owners with credit scores under 500 as well as over 750.

What is National Business Capital?

Founded in 2009, National Business Capital connects borrowers to personalized financing options for businesses in every field, from hospitality to IT.

If you’re connected to a lender — National Business Capital claims to connect 90% of its applicants with financing — you may be able to borrow up to $5 million for terms between 3 to 24 months. Rather than interest, you’ll have a factor rate based on your business and your personal finances.

The exact terms you qualify for will depend on the lender.

Startup financing

You could qualify as a new business owner if you have a personal credit score of 680+. National Business Capital offers a 0% intro APR credit card product for business expenses. It’s typically cheaper than a fixed-term loan if you can pay off balance within a year.

What are the benefits of a business loan from National Business Capital?

  • High connection rate. Even if you’ve had issues with your personal credit or business credit in the past, National Business Capital may be able to find a lender within its network that suits your needs.
  • Quick turnaround. You may receive approval in as little as 24 hours and have your funds disbursed to your bank account within days.
  • Set payments and terms. With a factor rate that’s expressed by cents on the dollar, you know exactly how much you will pay in interest and when.
  • Unsecured loans. Unlike traditional banks, you’re not forced you to put up collateral for a loan. This means your hard assets are safe from immediate repossession in the event that you default or have a payment dispute.
  • No restrictions. National Business Capital doesn’t set any industry restrictions and doesn’t outline any specific use for your loan. However, the lender you’re connected with may set some restrictions.

What to watch out for

National Business Capital offers generously lenient applicant requirements and efficient service, but its rates aren’t publicly available. Consider the following before applying for a loan.

  • Lack of transparency. You’ll need to speak to a representative to find out what you qualify for, and you won’t be able to compare the rate you’re quoted with previous applicants.
  • Potentially high interest rates. Prepare to pay as high as 30 cents on the dollar for a loan. This would amount to $15,000 for a $50,000 loan.

Compare National Business Capital to other business loan providers

Rates last updated December 19th, 2018
Unfortunately, none of the business loan providers currently offer loans for these criteria.
Name Product Product Description Min Loan Amount Max. Loan Amount Requirements
LoanBuilder, A PayPal Service Business Loans
Customizable loans with no origination fee for business owners in a hurry.
$5,000
$500,000
Annual business revenue of at least $42,000, at least 9 months in business, personal credit score of 550+.
LendingTree Business Loans
Multiple business financing options in one place including: small business loans, lines of credit, SBA loans, equipment financing and more.
Varies by lender and type of financing
Varies by lender and type of financing
Varies by lender, but you many require good personal credit, a minimum business age and minimum annual revenue.
Credibly Business Loans
Funding to cover business expenses with daily or weekly repayments.
$5,000
$250,000
500+ personal credit score, 6+ months in business, $15,000+ average monthly deposits
Lendio Business Loan Marketplace
Submit one simple application to potentially get offers from a network of over 75 legit business lenders.
$500
$5,000,000
Must operate a business in the US or Canada, have a business bank account and have a personal credit score of 560+.
National Funding Small Business Loans
Working capital loans and equipment financing, some high-risk industries may be eligible.
$5,000
$500,000
Be in business at least one year and make at least $100,000 in annual sales. Other loan types have additional requirements.
LendingClub Business Loans
With loan terms that vary from 1 to 5 years, enjoy fixed monthly payments and no prepayment penalties through this award-winning lender.
$5,000
$300,000
12+ months in business, $50,000+ in annual sales, no bankruptcies or tax liens, at least 20% ownership of the business, fair personal credit score or better
OnDeck Small Business Loans
A leading online business lender offering flexible financing at competitive fixed rates.
$5,000
$500,000
500+ personal credit score, 1+ years in business, $100,000+ annual revenue
Fora Financial Business Loans
No minimum credit score requirement and early repayment discounts for qualifying borrowers.
$5,000
$500,000
Business age 6+ months. Monthly revenue $12,000+. No open bankruptcies.

Compare up to 4 providers

How do I apply?

While National Business Capital doesn’t have very strict eligibility criteria, keep in mind that your business must be at least six months old and have a minimum annual revenue of $50,000 in order to qualify. And if you’re looking to finance a startup, you must have a credit score of 680 or higher.

When you’re ready to apply, click the Go to Site button on this page and complete National Business Capital’s online application form with your company’s financial history and other important information. You should be able to complete the online form in just a few minutes.

You’ll typically hear back within 24 hours.

Maximize your chances of approval

When applying for a financing through National Business Capital, you’ll need to provide both business and personal information to complete your application and demonstrate your eligibility. This information may include:

  • Your contact details (name, phone number, mailing address, email address, etc.)
  • Identity verification (date of birth, driver’s license number, etc.)
  • Proof of business ownership
  • Business performance (bank statements, balance sheets, etc.)

Once you submit the required information, National Business Capital will review your eligibility and determine if you prequalify for a business loan. After prequalifying, the lender may perform a credit check and ask for further information such as your Social Security number for verification.

I was connected to a business lender. Now what?

Your lender will work with you to finalize your loan agreement. If fully approved, you can use your loan funds to hire new employees, buy more supplies or however else you see fit. Some lenders offer automatic payments to help make paying your loan back easy, but don’t slack off: Keep track of your repayments to avoid any negative impacts to your credit.

Bottom line

National Business Capital offers companies the financing they need when other lenders refuse. With high maximum loan amounts and minimal restrictions on how you use the funds, National Business Capital may be worth considering if you want to be connected with a more flexible lender. However, its network of lenders may charge a high factor rate or have quick repayment terms, so be sure to check your final contract before you agree to a loan.

Be sure to compare your business loan options to make sure you’re getting the best rates and terms for you.

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