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Select Funding

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About Select Funding

Select Funding, a dedicated financial partner for small businesses across various industries, is unwavering in its commitment to assisting enterprises in addressing immediate needs and planning for future success. With a focus on providing comprehensive solutions, Select Funding specializes in offering small business financing options and equipment financing. This ensures that small business owners can access the financial resources they require to navigate the challenges of today and strategically plan for a prosperous tomorrow.

Select Funding

Key features

  1. Versatility Across Industries. Select Funding takes pride in serving a wide array of industries, ensuring that businesses from various sectors can benefit from their financial solutions.

  2. Generous Funding Limits. Small businesses can access substantial financial support with Select Funding, as they offer funding options of up to $1 million, providing the necessary capital for growth and development.

  3. Collateral-Free Solutions. Select Funding distinguishes itself by providing small business loans without the need for collateral. This allows business owners to secure the funds they need without jeopardizing their assets.

  4. Short-Term Financing Options. Recognizing the dynamic nature of business needs, Select Funding offers short-term loans. This flexibility allows businesses to address immediate financial requirements efficiently.

Pros and cons


No Collateral. One of the significant advantages of Select Funding is the absence of a collateral requirement, allowing small business owners to secure financing without risking their assets.

Up to $1,000,000 in Equipment Financing. Select Funding offers substantial equipment financing, providing businesses with access to up to $1,000,000 to support their equipment needs.

Online Application. The convenience of an online application process streamlines and expedites the funding application, making it more accessible and efficient for small business owners.


Small Amounts for Small Business Loans. While Select Funding offers considerable equipment financing, the amounts for small business loans may be limited, potentially restricting financial options for some businesses.

Minimum of $100,000 in Annual Sales. A drawback for businesses with lower revenue is the minimum annual sales requirement of $100,000, which may exclude certain smaller enterprises from qualifying.

Poor Information on the Website. The availability and clarity of information on the Select Funding website might be a drawback, as businesses rely on comprehensive and transparent details when making financial decisions.


The reliability of Select Funding can be partially assessed by considering the Trustpilot rating. With a 4.2 rating on Trustpilot, it suggests that a significant portion of customers have had a positive experience with Select Funding. However, it's essential to delve deeper into the reviews to understand specific aspects of customer satisfaction and any potential concerns.

How to apply for a Select Funding loan?

  1. Visit the Website. Navigate to the Select Funding website.

  2. Click "Apply Now". Locate and click on the "Apply Now" button to initiate the application process.

  3. Provide Essential Information. Fill out the required fields, including your name, business name, the amount of cash you need, intended use of funds, business email, phone number, time in business, and estimated annual sales.

  4. Click "Get Started". After entering the necessary details, click the "Get Started" button to proceed to the next stage.

  5. Complete the Application. Follow the prompts to complete the application form. Ensure that all required information is accurate and up-to-date.

  6. Qualification Process. After submitting your application, the qualification process begins. Await approval and review your financing options.

  7. Review Financing Options. Once your application is approved, carefully review the financing options presented to you. Select the one that aligns best with your business needs.

  8. Choose Your Financing Option. Make an informed decision and choose the financing option that suits your business requirements and financial goals.

  9. Get Funds. After selecting your financing option, anticipate receiving the funds in your business account. Typically, funds are disbursed within the next business day. For equipment financing, it may take up to three business days.

Сonditions and requirements


While specific loan conditions may not be explicitly outlined on the Select Funding website, here are some general conditions:

  1. Loan Amounts. For small business loans amounts are up to $250,000 and for equipment financing up to $1 million.

  2. Collateral. No collateral requirement for small business loans and equipment financing.

  3. Application Process. The application process involves providing essential business information, such as name, business name, requested loan amount, purpose of funds, business email, phone number, time in business, and estimated annual sales.

  4. Funding Timeframe. Funds for small business loans are typically received in the business account within the next business day. For equipment financing, it may take up to three business days.


  1. Business Ownership. Applicants must own their own business to be eligible for a Select Funding loan.

  2. Minimum Annual Sales. A minimum annual sales threshold of $100,000 is required for qualification.

  3. FICO Score. Applicants are expected to have a FICO credit score above 525. The FICO score is a measure of an individual's creditworthiness and is used by lenders to assess the risk of lending.

These requirements provide a basic overview of the criteria that applicants need to meet to be considered for a Select Funding loan. It's important to note that meeting these requirements does not guarantee approval, as the final decision may also depend on additional factors evaluated during the application and qualification process. Individuals interested in applying for a Select Funding loan should contact the company directly for comprehensive information tailored to their specific situation.

Ways to receive the money

Upon approval, the borrowed amount will be swiftly deposited into your business bank account, providing you with access to the funds in as little as 24 hours. This quick and efficient process ensures that you can address your business needs promptly and effectively.


Select Funding offers a range of financial products and solutions to cater to the diverse needs of small businesses. These include working capital loans, equipment financing, and business funding. With a focus on providing flexible payments and funding solutions, Select Funding aims to support businesses in various industries by offering quick and accessible financial assistance.

How to repay a Select Funding loan?

Repaying a Select Funding loan is straightforward. Flexible payments are set up, and the agreed-upon amount is automatically deducted from your business bank account. This streamlined process ensures timely repayments, allowing you to manage your working capital efficiently.

Other Loans

Reasons for getting rejected for a Select Funding loan

  1. Insufficient Annual Sales. Falling below the minimum annual sales requirement, which is a crucial factor for eligibility.

  2. Low FICO Score. Having a FICO credit score below the specified threshold may lead to rejection.

  3. Incomplete Documentation. Providing incomplete or inaccurate documentation during the application process may lead to rejection.

  4. Unverified Information. Failure to verify information submitted, such as business bank statements or other required documents may cause the rejection.

  5. Limited Cash Flow. Inadequate cash flow or financial instability may impact the approval decision.


  • OnDeck provides small business loans and lines of credit with a focus on quick and accessible funding solutions. They offer a variety of loan products tailored to different business needs.

  • SBG Funding specializes in providing working capital solutions, equipment financing, and merchant cash advances to small businesses. They aim to support businesses with flexible funding options.

  • Newtek offers a range of financial and business services, including business loans, electronic payment processing, and insurance solutions. They cater to the diverse needs of small businesses.

  • Accion is a non-profit organization that focuses on providing small business loans to entrepreneurs. They aim to empower businesses, particularly those in underserved communities, by offering financial support.

Loans like Select Funding


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 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.


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

Select Funding stands out as a notable player in the small business financing landscape. With an easy application process, businesses can quickly connect with funding advisors to explore financial solutions tailored to their needs. The company's commitment to transparency is reflected in positive Select Funding reviews, often earning them 5 stars on various platforms. While like any financial entity, individual experiences may vary, the company's commitment to industry-specific advantages and a well-completed team positions it as a viable option for businesses looking to expand and secure funding.


Keeping your Debt-to-Income (DTI) ratio below 30-40% of your monthly income is crucial. This will help you avoid potential financial problems in the future. Additionally, always assess the necessity and feasibility of taking a loan, ensuring you can comfortably manage its repayment.

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.


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



How do you qualify for a Select Funding loan?

Qualifying for a Select Funding loan involves owning your own business, demonstrating a minimum annual sales of $100,000, and maintaining a FICO credit score above 525. Additionally, completing the easy application process and providing necessary documentation, such as business bank statements, is essential.

How much can you borrow from Select Funding?

With Select Funding, small businesses can access loans up to $250,000 and equipment financing up to $1 million. These funding options provide businesses the financial flexibility to address various needs, from working capital to equipment upgrades, supporting their growth and development.

Does Select Funding approve everyone?

Select Funding does not guarantee approval for everyone. Approval is subject to meeting specific criteria, including business ownership, minimum annual sales of $100,000, and a FICO credit score above 525. The application process and documentation play a crucial role in the approval decision.

Is Select Funding a legitimate company?

While Select Funding may not be accredited by the Better Business Bureau (BBB), its legitimacy can still be assessed through other means, such as customer reviews, industry reputation, and the company's overall transparency. It's advisable to thoroughly research and consider multiple factors before engaging with any financial institution.

Is Select Funding a good lender?

A Trustpilot rating of 4.2 suggests that Select Funding has received generally positive reviews from customers. While this rating provides an indication of customer satisfaction, it's important to consider individual needs and preferences when evaluating if Select Funding is a good lender for a specific situation. Additionally, factors such as interest rates, terms, and overall customer experience should be weighed alongside the Trustpilot rating to make an informed decision about whether Select Funding aligns with your business financing needs.

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