How to apply
The application process in National Business Capital is uncomplicated, and it takes you less than a minute to finalize a digital application. After clicking the "Apply Now" button, a user will need to:
Assemble personal and business information;
Complete an online application form;
Select the most appropriate funding solution and complete the application;
Get connected with a matching lender;
Get funded in a few hours.
Requirements
The minimum age required for applying is 18 years old. Conditions for National Business Capital services depend on the type of business option you are applying for.
If you apply for Small Business loans, your business must be at least one year in operation and generate $120,000 in annual revenue (or $10,000 per month). Furthermore, you must have at least a 580 credit score to qualify for SBL.
To apply for an SBA loan, your business has to operate for at least two years, generate $100,000 in annual gross sales, and have a credit score of 685 and more.
As for equipment financing qualifying, clientele business credit score should start from 650. Take into account that for that option, you don't need an excellent credit score if your business generates at least $120,000 in annual gross sales.
Application details
Documentation for National Business Capital includes a credit report, budget, future cash flow projections, and a balance sheet. Besides the application, you'll need to provide the last three months of your business bank statements. Tax return information is optional. Some documents may be supplementary depending on the lender's conditions.
Applications are considered within a few days.
The most common reasons for rejection are insufficient business experience measured in years, operating in business, a low annual amount of sales, and a credit score.
