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Noble Funding business loans review
APRs starting at 8.99% for merchant cash advance refinancing and more.
finder.com’s rating: 3.6 / 5.0
★★★★★
- Best for businesses looking to refinance an expensive merchant cash advance.
- Pick something else if you don’t want to potentially work with a third-party lender.
Details
| Min. Amount | $75,000 |
|---|---|
| Max. Amount | $500,000 |
| Min. Credit Score | 650 |
| APR | Starting from 8.99% |
| Requirements | 650+ credit score, 18+ months in business, positive net income for at least one of past two years, no past bankruptcies, no open state or federal tax liens |
First, do I qualify?
You and your business must meet the following criteria when applying for a Noble Funding business loan:
- 650 personal credit score or higher
- At least 18 months in business
- Positive net income for at least one of past two years
- No previous bankruptcies
- No open tax liens
What makes Noble Funding business loans unique?
Noble Funding long-term business loans are one of a handful of products that are designed with merchant cash advance refinancing in mind — though you can use the funds for any legitimate purpose. With rates starting at 8.99% APR, it offers a competitive deal for an online business lender. While it doesn’t require collateral, you can choose to back your loan for a better rate.
Pros
- Fair credit OK
- Secured and unsecured options
- No prepayment penalties
- Positive customer reviews
Cons
- No funding under $75,000
- Not always a direct lender
- Not as fast as other online lenders
Compare other business loan options
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Noble Funding reviews and complaints
| BBB accredited | Yes |
|---|---|
| BBB rating | A+ |
| Trustpilot Score | 4.9 out of 5 stars, based on 160 customer reviews |
| Customer reviews verified as of | 12 October 2019 |
How do I apply?
You can apply for a Noble Funding business loan through its website or by calling 800-916-3196.
Here’s how to get started online:
- Go to the Noble Funding website.
- Fill out the form at the top of the page with your name, contact details and information about your business.
- Describe what kind of loan you want and what you plan on using it for.
- Click Submit.
What documents do I need to apply?
Nobel Funding doesn’t disclose the documents required for its long-term loans — and it likely varies depending on the applicant. But most business loan providers ask to see recent business and personal tax returns, as well as bank and financial statements. You might also need to provide your most recent statement from your merchant cash advance provider if you’re applying for refinancing.
What happens after I apply?
After you submit your request, Noble Funding should reach out to you to go over your options and give you instructions on how to complete the application. Turnaround time on these loans is typically between two and three business days.
How do repayments work?
Noble Funding loans come with monthly payments which are based on your business’s cash flow. If your business can afford it, consider making extra repayments since this lender doesn’t charge a prepayment penalty. Reach out to customer service as soon as possible if you have any questions or concerns about your loan.
Want to know how Noble Funding compares to other lenders? Read our guide to business loans.
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
anna.serio@finder.comAnna 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
Noble Funding is a highly rated online lender whose long-term business loans might be best for a business paying off an expensive merchant cash advance. While it might not make your merchant cash advance less expensive — those come with built-in fees — it could reduce the daily burden on your business.
However, its turnaround time might be longer than other online lenders. And there’s a chance you’ll be borrowing from a partner, rather than Noble Funding. But its customers speak highly of their experience on sites like Trustpilot.
Not sure Noble Funding is right for you? Compare other business loan options below.