National Business Capital Review

About National Business Capital

National Business Capital, a prominent lending institution in the United States, stands out as a versatile financial partner for small business financing. With a comprehensive range of financing options, including small business loans, business lines of credit, equipment financing, SBA loans, and revenue-based financing, the institution caters to diverse business needs.

National Business Capital's lending marketplace approach, offering access to an extensive network of lenders, ensures that clients can explore various funding options tailored to their unique circumstances. Furthermore, its commitment to personalized solutions, including specialty financing for industries such as CannaBusiness and Franchise Financing, underscores its dedication to addressing the distinct requirements of each client.

Key Features

1. Diverse Financing Options. National Business Capital provides a wide array of financing options, including small business loans, business lines of credit, equipment financing, SBA loans, and revenue-based financing, ensuring flexibility to meet various business needs.

2. Specialty Financing Solutions. The institution offers specialized financing solutions tailored to specific industries, such as CannaBusiness Financing, Asset-Based Lending, Accounts Receivable Financing, Franchise Financing, Purchase Order Financing, and Commercial Mortgage Financing.

3. Lending Marketplace Approach. Through an extensive network of lending partners, National Business Capital facilitates access to multiple funding options, enabling clients to choose the most suitable solution for their unique circumstances.

4. Exclusive Lender Relationships. The institution's longstanding relationships with top B2B lenders enable clients to receive offers that may not be available through other channels, providing access to exclusive financing opportunities.

5. Personalized Advisory Services. Clients benefit from the guidance of dedicated Business Finance Advisors, ensuring a personalized approach to financing that aligns with their unique needs and goals.

6. Long-Term Perspective. National Business Capital aims to build lasting relationships with clients, offering not just loans but a pathway to streamlined access to future capital, emphasizing a commitment beyond the immediate financial transaction.

Pros and Cons

Pros

Cons

Reliability

National Business Capital has established itself as a reliable and reputable financial partner for businesses, evident in its impressive credentials and positive customer feedback. The institution holds a distinguished 5-star rating on Trustpilot, with a substantial total of 2,490 reviews reflecting the satisfaction of clients who have engaged with its services. This high level of customer acclaim on an independent review platform underscores National Business Capital's commitment to delivering effective and trustworthy financial solutions.

Moreover, the institution's accreditation by the Better Business Bureau (BBB) with an A+ rating further solidifies its reputation for excellence and ethical business practices. This recognition from BBB serves as a testament to National Business Capital's dedication to maintaining the highest standards of integrity and customer service.

How to Apply for a National Business Capital Loan?

1. Visit the Official Website. Start by visiting the official National Business Capital website. Navigate to the loan application section to begin the process.

2. Complete the Online Application. Fill out the online application form. This form requests basic information about your business, such as its name, industry, annual revenue, time in business, and the amount of funding you are seeking.

3. Upload Business Documents. As part of the application process, you'll need to upload essential business documents. National Business Capital often requires at least six months of bank statements to assess your business's financial health.

4. Credit Check. National Business Capital conducts soft credit pulls during the application process. This helps the institution understand your creditworthiness and determine which lenders are likely to approve your loan.

5. Review Your Loan Offers. Once you've submitted your application and documents, National Business Capital's team, along with their advanced lender-matching technology, will review your information. You'll then receive multiple loan offers tailored to your business needs.

6. Consult with a Business Finance Advisor. National Business Capital provides the opportunity to consult with a dedicated Business Finance Advisor. This professional can offer expert advice on the loan offers, helping you make an informed decision based on your business's unique circumstances.

7. Select the Best Offer. Review the loan offers carefully, considering factors such as interest rates, terms, and repayment options. Choose the offer that aligns best with your business goals and financial needs.

8. Finalize the Loan Agreement. Once you've selected a loan offer, work with National Business Capital to finalize the loan agreement. This may involve additional documentation and verification processes.

9. Receive Funding. Upon completion of the necessary steps and approval, National Business Capital aims to provide fast funding. For smaller loan amounts, you may receive the funds within a few hours, while larger transactions could take a few business days.

Conditions and Requirements

Conditions

1. Diverse Loan Products. National Business Capital offers a range of financing options, including small business loans, business lines of credit, equipment financing, SBA loans, and revenue-based financing, providing flexibility to cater to various business needs.

2. Exclusive Lender Relationships. Through its longstanding relationships with top B2B lenders, National Business Capital can provide clients with access to exclusive loan offers that may not be available through other channels.

3. Quick Funding Turnaround. The institution emphasizes fast access to capital, allowing businesses to secure up to $250,000 within a few hours through a digital application and submission of six months' bank statements.

4. Transparent Application Process. National Business Capital prioritizes transparency, allowing businesses to apply securely within minutes. Expert advice is provided to assist clients in making informed decisions throughout the application process.

5. Personalized Advisory Services. Clients benefit from dedicated Business Finance Advisors who offer personalized guidance, ensuring that businesses receive financing solutions tailored to their specific circumstances and goals.

6. National Coverage. National Business Capital extends its financing options to businesses in all 50 states, ensuring widespread accessibility to a diverse range of businesses throughout the United States.

Requirements

1. Basic Business Information. Borrowers are required to provide fundamental details about their business, including its name, industry, annual revenue, and the time the business has been in operation.

2. Financial Documents. Essential financial documents, such as at least six months of bank statements, are commonly required to assess the financial health of the business. The specific documents may vary based on the type and amount of the loan.

3. Personal Credit Score Check. National Business Capital conducts soft credit pulls during the application process. While the institution is accommodating to businesses with varying credit histories, some lenders on their platform may have set minimum credit score requirements in place.

4. Loan Repayment Ability. Lenders will assess the borrower's ability to repay the loan, considering factors such as the business's cash flow, profitability, and overall financial stability.

5. Collateral (Depending on the Loan Type). Certain loan products, such as equipment financing or asset-based lending, may require collateral. Borrowers should be prepared to provide details about the assets or equipment being used as collateral.

6. Business Plan (In Some Cases). Depending on the nature of the business loan and the lender's requirements, businesses may need to provide a comprehensive business plan outlining their goals, strategies, and financial projections.

7. Compliance with Legal Requirements. Borrowers must adhere to legal requirements, including industry regulations and compliance standards, to qualify for certain types of loans, especially specialty financing solutions like CannaBusiness Financing.

Ways to Receive the Money

1. Electronic Funds Transfer (ACH). One of the most common and efficient methods is through Electronic Funds Transfer (ACH). Once the loan is approved and finalized, the funds are electronically transferred directly into the business's bank account. This method is secure, fast, and widely used for quick access to capital.

2. Business Debit Card. Some lenders may offer the option of loading the approved loan amount onto a business debit card. This provides businesses with immediate access to the funds and the flexibility to use the card for various business expenses.

3. Wire Transfer. For larger loan amounts or businesses that prefer direct bank-to-bank transfers, a wire transfer may be arranged. This method ensures a secure and direct transfer of funds from the lender's account to the business's bank account.

Products

1. Small Business Loans. National Business Capital offers traditional small business loans, providing businesses with a lump sum of capital that can be used for various purposes, such as expansion, equipment purchase, or working capital.

2. Business Lines of Credit. Business lines of credit offer businesses a flexible financing option where they can draw funds as needed, up to a predetermined credit limit. This allows for greater control over cash flow and the ability to address short-term financial needs.

3. Equipment Financing. Businesses seeking to acquire or upgrade equipment can benefit from National Business Capital's equipment financing options. This product provides funding specifically earmarked for the purchase of equipment, with the equipment itself often serving as collateral.

4. SBA Loans. National Business Capital facilitates access to Small Business Administration (SBA) loans. These government-backed loans offer favorable terms and conditions, making them an attractive option for businesses looking for long-term financing solutions.

5. Revenue-Based Financing. For businesses with fluctuating revenue or unique financing needs, revenue-based financing provides a flexible option. Repayments are tied to a percentage of the business's revenue, aligning with its cash flow.

6. Subordinated Debt. Subordinated debt involves obtaining a loan that ranks below other debt in terms of claim on assets. This can be an effective financing solution for businesses with existing debt obligations.

7. Specialty Financing Solutions. National Business Capital tailors financing solutions for specific industries, including CannaBusiness Financing, Asset-Based Lending, Accounts Receivable Financing, Franchise Financing, Purchase Order Financing, and Commercial Mortgage Financing.

8. Combination Financing. Businesses have the option to combine different financing products, such as securing a Small Business Administration loan alongside a business line of credit. This allows for a customized approach to address various financial needs.

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Reasons for Getting Rejected for a National Business Capital Loan

1. Credit Issues. National Business Capital, like many lenders, considers the creditworthiness of the business owner or entity. A low FICO score, a history of late payments, or a recent bankruptcy can negatively impact the approval decision.

2. Insufficient Monthly Revenue. National Business Capital assesses the monthly revenue of a business to determine its ability to repay a loan. If a business's monthly revenue is deemed insufficient to cover loan payments, it may result in rejection.

3. Limited Time in Business. Some loan products may have a requirement for businesses to have been operational for a minimum duration. If a business hasn't been in operation for at least two years, it might face challenges in securing certain types of financing.

4. Inadequate Sales Performance. A business's sales performance is a critical metric considered by lenders. If a business has not demonstrated consistent and healthy sales, it might be perceived as a higher risk, leading to a rejection.

5. High Costs and Debt Obligations. Lenders evaluate a business's overall financial health, taking into account existing debt obligations and operating costs. If a business has high debt levels or its costs are too close to revenue, it may raise concerns about its ability to manage additional debt.

6. Unfavorable Loan Terms. National Business Capital, like any responsible lender, may reject a loan application if the proposed terms would place an undue burden on the business. This could include extremely high-interest rates, short repayment terms, or unfavorable conditions.

7. Inadequate Documentation. Insufficient or incomplete documentation can hinder the loan approval process. National Business Capital often requires businesses to provide detailed financial records, and a lack of proper documentation may lead to rejection.

8. Previous Rejections or Defaults. If a business has a history of rejected loan applications or defaults on previous loans, it may create concerns for lenders about the ability to repay new debt.

9. Failure to Meet Minimum Requirements. National Business Capital, like any lending institution, has minimum requirements for various loan products. If a business fails to meet these specific criteria, it could result in a rejection.

How to Repay a National Business Capital Loan?

1. Understand Loan Terms. Start by thoroughly understanding the terms of the loan. This includes the interest rate, repayment period, and any specific conditions outlined in the loan agreement.

2. Select a Repayment Method. National Business Capital typically offers various repayment methods. Choose the method that aligns best with your business's cash flow and financial management preferences. Common methods include automatic withdrawals, online payments, or check payments.

3. Set Up Automatic Payments. To ensure timely repayments, consider setting up automatic payments. This helps prevent missed payments and ensures that your business maintains a positive repayment history.

4. Monitor Cash Flow. Keep a close eye on your business's cash flow. Understanding your financial situation can help you anticipate any potential challenges in making timely payments and allow you to take proactive measures.

5. Utilize Flexible Terms. National Business Capital often provides flexible repayment terms. If your business experiences unexpected challenges, such as a temporary drop in revenue, reach out to your Business Finance Advisor to explore options for modifying the repayment schedule.

6. Explore Early Repayment Options. If your business is in a position to repay the loan early, consider the possibility. Some loan products may have prepayment discounts, allowing you to save on overall interest costs.

7. Stay in Communication. Open communication is crucial. If your business anticipates difficulties in making a payment or requires adjustments to the repayment schedule, communicate with National Business Capital as early as possible. They may be able to offer solutions or alternatives.

8. Review Monthly Statements. Regularly review your monthly statements to ensure accuracy and to track your business's progress in repaying the loan. This also helps identify any discrepancies or issues that may need to be addressed promptly.

9. Take Advantage of Better Rates. If your business's financial health improves during the loan term, explore the possibility of refinancing to secure better rates. National Business Capital may offer options that align with your business's growth and improved creditworthiness.

10. Consider Feeding America Partnership. If your business is part of the Feeding America program with National Business Capital, ensure that you understand how the contributions work and explore how your repayments contribute to supporting those in need.

Alternatives

OnDeck, established in 2006, is a prominent player in the business lending sector, providing small businesses with term loans and lines of credit. With a notable track record of extending $14 billion in funding, OnDeck stands out for its diverse lending products and the convenience of same-day funding. Their term loans range from $5,000 to $250,000 with repayment terms extending up to 24 months, while the line of credit offers a flexible credit limit of $6,000 to $100,000 with a 12-month repayment term that resets after each withdrawal.

QuickBridge specializes in offering small business loans nationwide, ensuring a quick application process and potential funding within 24 hours, contingent on having fair to excellent credit. The interest on QuickBridge loans is expressed as a factor rate, simplifying the cost calculation. For instance, a $30,000 loan with a factor rate of 1.11 results in a total repayment of $33,300, including $3,300 in interest, over a six-month term, reflecting an interest rate of 22%.

National Funding caters to working capital needs, providing small business loans ranging from $10,000 to $500,000 with flexible terms of four months to two years, paid daily or weekly. National Funding offers equipment financing up to $150,000, requiring a minimum personal credit score of 575 for eligibility. National Funding distinguishes itself by offering early payoff discounts, granting a 7% discount for small business loan customers and a 6% discount for equipment financing customers who repay the total remaining balance within the first 100 days or at any point during the term.

Fundbox, operating as an AI-powered business lending platform, prioritizes speed in the application, decision-making, and funding processes. Prospective borrowers can benefit from swift decisions within three minutes and funding as soon as the next business day. Fundbox provides two business financing options, allowing business owners to apply for revolving business lines of credit up to $150,000. The repayment terms are 12 or 24 weeks, and as borrowers repay their line of credit, their available credit is replenished.

Loans like National Business Capital

OnDeck

OnDeck stands out as an excellent choice for short-term business loans, offering the flexibility of borrowing substantial amounts, even for businesses with a minimum credit score. What makes OnDeck particularly attractive is its ability to provide funds swiftly, with same-day approval and disbursement for qualifying applicants. Moreover, OnDeck emphasizes the opportunity to build and strengthen business credit by consistently making on-time payments. The loan terms range from 18 to 24 months, with loan amounts spanning from $5,000 to $250,000. While the starting interest rate is 35.40% for a portion of customers, the accessibility and speed of funding make OnDeck a notable player in the short-term business loan landscape.

Funding Circle

Funding Circle distinguishes itself in the realm of long-term business loans by offering competitive rates, extended repayment terms, and a lack of prepayment penalties. This lending option caters to businesses seeking larger loan amounts, ranging from $25,000 to $500,000, with a reasonable starting interest rate of 11.29%. Beyond financial support, Funding Circle prioritizes efficiency, enabling businesses to access funds in as little as two business days. Notably, Funding Circle also showcases its commitment to diversity by providing funding options specifically tailored for women-owned businesses and minority entrepreneurs. The loan terms extend from 6 to 84 months, making Funding Circle a favorable choice for businesses with a more extended financial horizon.

Credibly

Credibly positions itself as a reliable source for working capital loans, particularly for businesses requiring quick funding to address immediate operational needs like payroll or inventory expenses. Notably, Credibly's working capital loans boast a rapid approval process, often providing funds in less than 24 hours. The lender exhibits flexibility by considering applicants with a minimum credit score of 500 and a willingness to look beyond a less-than-perfect credit history, provided there is a healthy annual revenue. Beyond working capital loans, Credibly collaborates with a network of lenders to offer a diverse range of financing options, including merchant cash advances, business lines of credit, equipment financing, SBA loans, and invoice factoring.

Fundbox

For startups in need of swift financing, Fundbox presents an appealing option with its business line of credit, offering up to $150,000. What sets Fundbox apart is its relatively lenient eligibility criteria, allowing new companies to qualify after just six months of operation and a minimum annual revenue of $100,000. The business line of credit provides the flexibility to withdraw funds as needed, and businesses only pay interest on the amount utilized. Additionally, Fundbox offers perks such as up to 20% off fees through its Fundbox Plus upgrade. With competitive starting interest rates ranging from 4.66% for 3-month terms to 8.99% for 6-month terms, Fundbox addresses the financial needs of emerging businesses seeking quick and accessible startup loans.

Editorial Opinion

Important

How to Choose a Lender

1. Make sure to confirm whether the lender is licensed to operate in your state. You can verify this information with your state regulator or attorney general.

2. Check if the lender is a member of a reputable association, such as the Community Financial Services Association of America. Membership in such organizations may provide an extra level of reliability.

3. Carefully review all the terms and conditions of your payday loan contract.

4. Thoroughly examine the interest rates on payday loans and ensure that your contract includes a detailed breakdown of the total cost of the loan.

5. Take advantage of your right of rescission. Usually, you can rescind the loan within three days after signing the agreement. Alternatively, there is typically a "cooling-off" period, which allows you several days to thoroughly review the contract before making an informed decision to enter into a consumer loan agreement based on the terms specified by the lender.

6. Choosing a payday lender is a significant decision that demands careful consideration and a good understanding of how such organizations operate.

Methodology

At Finanso, we've carried out a comprehensive analysis of over 50 business lenders, assessing them based on 35 different parameters across six key categories: accessibility of loans, customer relations, quality of service, interest rates, and transparency of conditions.

In each category, we carefully considered the most critical factors in selecting a lender. These factors include the interest rates, available loan amounts, minimum credit score, minimum income, application fees, and the speed at which funds are transferred.

At Finanso, we highly value our users, which is why we also focus on the quality of customer service, user reviews, and additional features that can aid our users in making a well-informed decision.

Our ultimate goal is to provide insightful recommendations and expert advice to assist you in selecting a lender that best caters to your specific needs.

Additional Resources

• GoKapital Account Review
• How to Apply for GoKapital Loan
• How to PayOff GoKapital Loan
• GoKapital Mobile Apps
• GoKapital Reviews

Sources

• National Business Capital
• National Business Capital Reviews
• National Business Capital Financing