American Business Credit
Is This Your Business?Author: Kaitlyn Short
American Business Credit is a nationwide business financing company founded in 2012 and located in St. Petersburg, Florida. The company specializes in unsecured small business loans and lines of credit up to $1 million. However, the finance services company does not disclose its fees to the general public. Funding within seven days, and available nationwide.
Top Ranked Companies
The Good
- Several Loan Options
- Positive Customer Feedback
- Other Benefits
Several Loan Options
American Business Credit provides several types of unsecured loan types for small business owners. A unique offering from American Business Credit is a small business loan specifically for medical professionals who are looking to start a business but are already faced with high amounts of student loan debt. The finance services company also offers personal loans, startup funding, and equipment funding. Most offered loans feature low-interest rates and affordable monthly payments. Term lengths range from 24 to 84 months with no prepayment penalties.
Positive Customer Feedback
Online reviews regarding the company's customer service experience are mainly positive. The company also features testimonials from satisfied customers on its website.
Other Benefits
Other benefits of American Business Credit include:
- Fast approval
- Access to funding within seven days
- No prepayment penalties
- Short and long term loan options
The Bad
- Undisclosed Fees
- Limited Company Information
Undisclosed Fees
The company does not disclose its interest rates and other fees to the general public on its corporate website. Interest rates vary by lender and no information is made readily available regarding origination fees and closing costs. This makes it difficult to for a borrower to determine if available loan options are the best deals in the marketplace for their unique situations.
Limited Company Information
American Business Credit does not disclose details on its website regarding its corporate history or executive leadership. There is also no available information about the total amount of funding small business owners have been able to receive from the company since it started.
The Bottom Line
American Business Credit is best suited for established small business owners who make over $150k annually. The company has received positive feedback with its customer service experience and there are no filed complaints; however, the company is not transparent regarding fees and rates and funding is limited compared to other online marketplace lenders. We do not recommend working with American Business Credit for your business loan needs.
