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National Funding small business loans review

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Working capital loans and equipment financing for bad credit and high-risk industries.’s rating: 4.5 / 5.0


National Funding is an alternative small business lender that works with a wide range of credit types and industries — including cannabis. How does it do this? It’s a provider that partners with alternative lenders for high-risk borrowers it isn’t equipped to take on.


Min. Amount


Max. Amount


Product NameNational Funding business loans
Min. Amount$5,000
Max. Amount$500,000
Loan TermUp to 12 months
Min. Credit Score620
APR4% to 8%
RequirementsBe in business at least one year and make at least $100,000 in annual sales. Other loan types have additional requirements.
Check eligibility

First, do I qualify?

National funding has different eligibility requirements for its many programs.

Working capital loan qualifications:
  • Be in business one year or more
  • Make at least $100,000 in annual sales
Equipment financing qualifications:
  • Be in business six months or more
  • Have a credit score of 620 or higher

What does National Funding offer?

National Funding offers working capital loans and long-term equipment financing both directly and through its network of lenders. Both come with APRs ranging from to 8%, including a 1%–3% origination fee. An origination fee of 1%–3% is standard, as many business lenders with this fee tend to charge between 3% and 5%.

National Funding’s working capital loans are short-term, unsecured loans that come in one lump sum of to that you pay back with daily repayments in 12 months or less.

National Funding offers both equipment financing and leasing on new and used equipment. Your business can borrow up to 400% of your equipment’s value and pay it back over loan terms of five years or more.

These rates and terms don’t necessarily apply to National Funding’s partner lenders, however. If you work in a high-risk industry like cannabis, it’s possible you’ll end up with less favorable terms. You also might want to do some research into the lender you’re connected with to make sure its terms and conditions work for your business.

We spoke directly with a representative from National Funding to gather up-to-date information about loan amounts, terms and APR ranges. Info on its site may vary from what you see in our review.

What makes National Funding small business loans unique?

National Funding working capital loans come with some of the most competitive rates for a short-term loan. It’s also more open to different types of industries than your typical business lender and even offers programs by industry type. Your credit score doesn’t matter for its term loans, though you’ll need a credit score of 620 or higher if you’re applying for equipment financing.

What are the benefits of a National Funding business loan?

  • Competitive rates. If you can qualify for a business loan directly through National Funding, your business might end up with some of the most competitive rates for a business loan out there.
  • Fast funding. Once approved, you could get your funds as soon as the next business day.
  • Good credit not necessary. There’s no minimum credit score for its term loans and equipment loans only require fair credit.
  • Most industries accepted. Even cannabis businesses can qualify for a loan through National Funding’s lending partners.

What to watch out for

  • Doesn’t directly fund all loans. If you’ve had a hard time getting a business loan from other online lenders, there’s a chance you won’t be able to qualify for National Funding’s competitive rates.
  • Daily repayments on term loans. This can be difficult for seasonal businesses to afford if they don’t have a consistent daily cashflow.
  • Short terms mean higher immediate cost. A loan term under 12 months can result in some costly daily repayments.
  • Site appears to be out of date. We received details on loan amounts and terms by calling and speaking with a National Funding representative, and they differ from the info you’ll find on its site.

More alternative business loan providers to compare

Data indicated here is updated regularly
Name Product Filter Values Loan amount APR Requirements
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.
Seek Business Capital loans
$5,000 – $500,000
Varies by lender
Personal credit of 680+, no bankruptcies in the last 4 years.
Startups and newer businesses could qualify for loans and credit cards with a custom financing package.
National Funding business loans
$5,000 – $500,000
4% to 8%
Be in business at least one year and make at least $100,000 in annual sales. Other loan types have additional requirements.
Working capital loans and equipment financing, some high-risk industries may be eligible.
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.
Diamond business loans
$25,000 – $150,000
5.9% to 19.99%
680+ personal credit score, no late payments or bankruptcies
Grow your startup or cannabis business with a line of credit or fixed-term business loan.
Green Leaf Money cannabis business loans
$1,000 – $100,000
6.98% to 30%
Documented income, records of your business spending and accounts
Connects cannabis businesses with lenders willing to work with them across the country.
Fundanna cannabis business crowdfunding services
$10,000 – $1,070,000
Must own a startup in the cannabis space. You're not eligible if your company is outside of the US or already reports to the SEC.
Raise funds for your cannabis business while using a streamlined platform to communicate with investors and develop a loyal brand following.

Compare up to 4 providers

National Funding reviews and complaints

BBB accredited Yes
BBB rating A+
BBB customer reviews 2 out of 5 stars, based on 25 customer reviews
BBB customer complaints 25 customer complaints
Trustpilot Score 4.5 out of 5 stars, based on 1,324 customer reviews
Customer reviews verified as of 14 October 2019

National Funding receives mixed reviews. Borrowers were most enthusiastic about its customer service, even mentioning National Funding employees by name. Not all borrowers were happy with their experience, however. Some claimed they were misled into thinking they were going to get lower rates than they actually received. Another reviewer complained that they’d gotten spam calls from the lender, which used a geolocation system that makes the call look like its coming from a local phone number.

How do I apply?

First, confirm you’re eligible.

To get a term loan, your business must:

  • Be at least one year old.
  • Generate at least $100,000 in yearly sales.

To get an equipment loan, you must have:

  • A business at least six months old.
  • A credit score of 620 or higher.

You can apply for a National Funding business loan in two ways: Online or over the phone. To apply online:

  1. Go to National Funding’s website and click Apply Now.
  2. Fill out the required fields with information about your business’s needs. Review the confirmation and the terms and submit.
  3. Review your offers if you’re preapproved and follow National Funding’s directions to complete your application and submit documents.
  4. It takes a couple of days for the underwriting team to process your application and give you a final offer.
  5. Review and sign your loan documents.

Once you’re approved, you can get your funds in as little as one business day.

What documents do I need to apply?

National Funding generally asks for limited documentation. But like with eligibility, its business loans and equipment financing require different types.

  • Small business loan. Three most recent business bank statements.
  • Equipment financing. A quote from a vendor.

If your business qualifies for financing from a different lender, it might be required to submit additional documents.

Does my business need a bank account?

It does. National Funding relies on your business’s bank account information during the underwriting process. It also collects automatic daily repayments through ACH, which requires a bank account.

I got the National Funding business loan. Now what?

National Funding’s loans come with automatic repayments, so you don’t have to worry about manually making a payment every day. If you’re borrowing from one of its partners, ask if you can set up automatic repayments — it can make paying off your loan a lot easier.

Watch your account and your loan balance. If you notice anything wrong or think you’ll have trouble making a repayment on time, reach out to customer service by calling 888-733-2383.

Bottom line

National Funding could be a good resource for businesses that typically don’t qualify for a loan. But don’t let the low rates fool you — riskier businesses might not qualify for a loan directly through this lender. Want to compare more lenders or learn about how business loans work? Check out our business loans guide.

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.

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