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National Funding

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7.2

Overall Score

LAST UPDATED: July 5th, 2022

National Funding provides small businesses with working capital loans. The company networks with a wide variety of vendors and offers equipment leasing for some borrowers. These services are offered nationwide.

With National Funding, no collateral is required and funding turnaround can be as quick as 24 hours. The small business lender offers a wide variety of lending solutions ranging from $5,000 to $500,000 and has been in business since 1999.

Continue reading our National Funding review to learn about the company's pros and cons or jump straight to the National Funding reviews from past borrowers. 

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The Good

  • Fair to Excellent Credit to Qualify
  • Loan Amount Available 
  • Loan Types
  • No Collateral Required
  • No-Risk Application

Fair to Excellent Credit to Qualify

You must have fair to excellent credit to qualify for a National Funding loan. The lowest credit score the company will consider loaning to is 600.

To improve your chances of obtaining a loan, take the following steps: 

  1. Know your personal credit score before you apply.
  2. Research your options based on eligibility requirements.
  3. You may be able to qualify by virtue of your years in business or annual revenue, even if your credit score isn’t great.
  4. Consider providing collateral via invoice factoring or equipment financing. In these cases, unpaid customer invoices or the equipment you finance can serve as collateral.
  5. Consider using a co-signer with a favorable credit score and steady income.
  6. Choose your best option from loans for which you qualify, which will most likely be from an alternative financing company like National Funding versus a traditional bank loan. 

Loan Amount Available 

The lender has a wide range of business funding solutions with loan amount options ranging from $5,000 to $500,000. Many business loan companies only offer $200,000 or less.

Having a large range of business loans means that the lender is a viable option for more borrowers than those qualifying for cash from a traditional lender. This increases your chances of funding and ensures the company can best serve you with offerings that fit your financing needs as a borrower. 

Loan Types

With National Funding, there are two solutions for business owners to choose from:

  • Small business loans (secure working capital and unsecured business loan) 
  • Equipment financing and leasing

Small Business Loans

National Funding offers small business loans up to $500,000. The company has helped over 50,000 businesses and funded more than $3 billion in loans. With such high numbers, borrowers can have peace of mind knowing National Funding is a trusted lender among business owners.

National Funding’s small business loans are not limited to certain industries and expand to a variety of different needs, including truck loans, retail business loans, construction business loans, agriculture loans, and many more. Loan use may vary by loan type, but loan funds can generally be used for payroll, debt consolidation, equipment, marketing, or other needs. 

To qualify, you need to be in business for at least 6 months and have a minimum of $250,000 in annual gross sales.

Here are some additional metrics for National Funding's small business loans:

  • Loan term: up to 24 months
  • Starting rate: 1.10 factor rate
  • Early repayment discount: 7% of remaining balance if paid in fulll within first 100 days
  • Repayment schedule: daily or weekly
  • Fees: 1–3% origination fee

Working Capital Loans

You can get a secure working capital loan for inventory, payroll, marketing, cash flow, equipment costs, taxes, or other expenses. National Funding offers working capital loans that are deducted daily based upon the business's future credit card invoices. 

When applying for this type of loan, you’ll need three months of statements from your bank account. Following your application, you’ll receive approval or denial in as little as one business day. 

Equipment Financing and Leasing

National Funding offers equipment financing and leasing to help businesses access equipment without compromising their existing capital.

National Funding offers equipment financing and leasing for new or used commercial vehicles, medical equipment, farm equipment, restaurant equipment, office equipment, construction equipment, and much more. The company has a list of all offered industries on its site. 

Because every business owner and business is unique, National Funding will establish a loan term that works for your needs. If you want equipment financing and leasing for a short period of time, you can make your repayment term a couple of years. Or, if you need financing for longer — even as long as a decade or more — National Funding has longer repayment terms that the company will customize to best fit your financial needs.

To qualify for National Funding’s equipment financing, you must meet the company's minimum requirements for credit score (fair to excellent) and time in business (two or more years). You’re also required to supply National Funding with an equipment quote from the vendor you plan to use. You can receive up to $150,000, but funds will vary based on credit score, time in business, etc.

Here are some additional metrics for National Funding's equipment financing loans:

  • Loan term: 2–5 yeras, 72 months available in special cases
  • Starting rate: 4.99% simple interest
  • Early repayment discount: 6% of remaining balance
  • Repayment schedule: monthly
  • Fees: 1–3%

No Collateral Required

National Funding does not require collateral where some other business lenders do. That means if you're a small business owner, you don’t have to provide the company with leverage such as a mortgage or car loan to cover your loan costs in case you don’t repay the loan in full and default on your account.

But keep in mind that if you have poor credit, choosing to offer collateral can increase your chances of obtaining a small business loan. 

No-Risk Application

Similar to other financial institutions, applying for National Funding’s loan services will not impact your credit score. Until you complete the application process and officially borrow the funds, your credit score will not be affected. This can give borrowers peace of mind that they can submit a loan application and compare the offer against other lenders before having their credit affected.

You can fill out the loan application online. National Funding will also supply you with a loan specialist that will assist you in deciding which financing option works best for your business. Once your application is completed, you’ll receive an answer within 24 hours. 

Quick Funding

After you are approved for a National Funding loan, you will receive your funds in as little as one business day. Receiving your money in less than 24 hours makes the lending process quick and simple and ensures you can begin expanding your business and attending to its needs as soon as possible. 

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The Bad

  • No Special Interest Group Products 
  • No Merchant Cash Advance, SBA Loan, or Line of Credit 

No Special Interest Group Products 

National Funding makes a point of affirming that it provides business loan options to minorities, veterans, and women, which demonstrates the company’s commitment to serving all small business owners. 

However, there are no special loan products for those groups. Prospective borrowers should be aware that additional, specialized assistance to these groups is limited to a curated list of resources on National Funding’s blog, not specific loan products. 

No Merchant Cash Advance, SBA Loan, or Line of Credit 

Additionally, National Funding does not appear to provide merchant cash advance, SBA loan, or line of credit financing options at this time. 

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The Bottom Line

National Funding offers a number of attractive features, including a variety of products, quick approval, and one-day funding.

And since the online lender has been providing capital to businesses nationwide since 1999, it has the experience to back up its claims to providing funding solutions to tens of thousands of businesses in a variety of industries. 

National Funding's financing options are great for short term loan solutions and debt consolidation loan uses, among other business funding needs. However, it doesn't offer federal funding through SBA loans. 

If you’re not sure what type of financing is best for your situation, no worries: National Funding provides you a personalized loan specialist to help you apply for, qualify for, and obtain a customized funding option that meets your needs. 

You can find National Funding reviews below if you’re interested in hearing what past and current customers have to say about the lending option.

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Star Rating

4.5

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62 Reviews

Review Breakdown

5 grade

71%

4 grade

16%

3 grade

6%

2 grade

0%

1 grade

6%

Sentiment Criteria

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Quality

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Service

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Patrick Liberty, MO

I felt like they were customizing what they had with what I needed. It was effortless. Everybody that I talked to was super friendly and made sure that I had all my questions answered. The process was pretty easy. I did an online application. It didn't take very long. Very simple. I would recommend them to anyone. They are awesome folks to work with.

2 years ago

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Linda New Creek, West Virginia

I've been with so many years and they always take care of me. Their customer service is always good. People always talk to you get back with you right away, they don't give you the runaround. They're just very kind and understanding and they're very helpful knowledgeable. They worked with me you know whatever I need or want they seem to work with you so it was pretty easy process

2 years ago

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Thomlyn Lovin Roswell, GA

National Funding was wonderful at providing my company the loans we needed at really low rates. We didn’t have to pay any down payment unlike most other companies I had tried, but this meant we had higher monthly payments. In the end it was all totally worth it!

3 months ago

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James Rogers, AR

The rates are a little high but when you need money quick it's a good loan. The customer service was super helpful. We've been real happy with them. It's a little bit expensive but if you're looking short term it's not so bad. We appreciate them.

2 years ago

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Christina Sutu-Wallar Concord, CA

Over the years I’ve owned numerous small businesses. I depend on companies such as national funding to make my dreams come true. I had reached out to them a few years ago to inquire about their services, and I was very pleased. They offer quite a few different services that met my needs at the time. On top of that, they did offer some kickbacks which I appreciated as a small business. Every dime counts when you’re starting out!

6 months ago

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Reply from National Funding

This review made our day! Thanks, Christina!

Mar. 23rd, 2022

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Patreena Minto-Powell Loganville, GA

The services was excellent. I was impressed with the fast and efficient way my application was processed. The agents were also very professional in the way they communicate with me. I am happy with the company.

2 years ago

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Sandra Tiffin, OH

Applied several different places and National Funding came through first. They're friendly and helpful. I think the actual loan came from a different company and it was pretty pedatory.

2 years ago

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Katrina Athens, AL

The process was pretty simple. Never had a problem with customer service they've always answered my questions. They've always been up front and worked in a timely manner.

2 years ago

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Scott Omaha, NE

I sent in bank statements and they got me the loan. They were courteous and prompt calling me back. I appreciated the fact that I got the cash fast but the short term repayment with daily withdrawal was a little annoying.

2 years ago

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Cherisse Sweeney

Very responsive and easy to work with. The process was seamless and I was able to keep my focus on making sure my new business had the financial room to grow.

2 years ago

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Patrick Philadelphia, PA

It was an easy application. They just needed 3 months of our bank statements and we were approved in minutes. And they answered any questions I had during the process.

2 years ago

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Santos Sanchez

Always rapid in having Funds in account in less than 24 hours no long paper work no long interviews just money when small businesses need with no hassle

2 years ago

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Mary Kate F Greenville, SC

National Funding is a reputable funding company that is perfect if you need a quick loan and will be able to pay it back. They processed my loan and payed it out relatively rapidly, and they kept the whole process smooth and simple, informing me along every step of the way. My only complaint is that you should be careful about how much info you give out… you will receive incessant phone calls, and be wary that if you own a small business, National Funding might not be the right option for you as they tend to prey upon smaller companies with their daily payments. However, overall satisfied with National Funding’s reasonable rates, and customer service!

6 months ago

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Mike Bernard San Diego, CA

National Funding was great to work with! I had an urgent need for capital for my business. I filled out the simple form on their website and a representative contacted me within a matter of minutes. I got the funds I need in my account the next day! National Funding got me the cash I needed when I needed it, I would recommend them to anyone in need of cash or equipment.

7 years ago

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Harold Princeton, WV

I've had good experiences with them every time I've dealt with them. They are knowledgeable, helpful and everything is fast.

2 years ago

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Ricardo Charlotte, NC

It wasn't complicated. Everything was quick and easy. The staff helped a lot. They kept us updated and answered all our questions.

2 years ago

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mark simpkins

very fast from start to finish and money was in mt account that fast, and cameron was very understanding of my needs and wants

2 years ago

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Jessica Reybal

Great customer service. I have never had an issue with payments or anything to do with our contract. Gentleman who helps us out is fantastic.

2 years ago

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Michael fuqua

Very easy to work with on loans worked really quick on my application and was able to get me approved very quickly"

2 years ago

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Roberto Denver, CO

It's a very good service. The gave me a good offer for a loan and it took about 2 or 3 days to get it.

2 years ago

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Moose Harte

Great customer service and attention to detail and always following up with me about my business needs

2 years ago

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Rabbika Sohale/Amaani jewelers Westmont, IL

excellent customer service,show care,good approval,and creative and helpfull just overall good experience.

2 years ago

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Andy

Ease and speed of getting money is great however their payback time (usually 12 tro 15 months) is very short so your daily payment is high.

2 years ago

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Allison Nihart

It is challenging to make the weekly payments and then have to wait to reach the 50% pay back before you can access anymore funds.

2 years ago

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Janella Guillermo

Always a quick and easy process with no hassle and the sales rep is always responsive to every question and every call

2 years ago

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Mark Minneapolis, MN

It's quite simple but very expensive. They were very attentive and quick with any questions and answers.

2 years ago

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Christopher Judsonia, AR

They are prompt and got me exactly what I needed. It was pretty fast and pretty easy.

2 years ago

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Grace de paz Orlando, FL

Good and fast service very happy I worked with Zach and he was very knowledgeable of his product

2 years ago

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Denise

Everyone we have worked with at National Funding has been very professional and honest.

2 years ago

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Lifeway Au' t' o & Towing

There always here when needed. They are fast really good at communicating and always on time

2 years ago

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Oscar Conley, GA

I'm extremely satisfied with the National Funding's service. They are great people to work with

2 years ago

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OSMIN PADILLA / OPFLEETSERVICE

THEY HAVE EXCELLENT CUSTOMER SERVICE IF YOU HAVE ECONOMIC NEED THEY ARE VERY QUICK TO HELP YOU

2 years ago

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Jill

Well they are so helpful in funding a business especially one with credit issues the interest rates are exorbitant."

2 years ago

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Mark

Always very good ,helpful and for what I am looking for fair.

2 years ago

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Ismael perez

Because they did everything fast and easy for me to get the approval

2 years ago

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L Ocoee, FL

I've used National Funding a couple of times and they are efficient.

2 years ago

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Paul Lecanto, FL

They are very courteous and get right on it when you ask for a loan.

2 years ago

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Matthew Meredith Wills Point, TX

interest is high, but its unsecured funds, so I understand. I would put 5 stars if our rates were lower.

2 years ago

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James Garcia Reading, PA

Great to work with, very responsive, and very helpful through the process.

2 years ago

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Mina Wahba

fast Action good customer service so far they helped my business a lot

2 years ago

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larry Dayton, OH

very helpful and quick answers on during the approval process

2 years ago

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Kathleen Champagne

Very helpful great for businesses that need funding great customer service!

2 years ago

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sandra

very easy process, with great communication with the agent and details

2 years ago

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Carli True Eatonville, WA

For $150,000, the interest and fees are almost at 40% well over the 6.25% banks charge which lead to a payback of $207,000. These types of fees cause your business to be dependent on the renewal process increasing your debt and fees paid. I am shocked that these types of companies are allowed to be in business. You are better off working with your bank.

2 years ago

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Gemini cut glass co inc

Great service. Great follow up. Quick responses

2 years ago

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Brian Dean

Easy application process and smooth transaction

2 years ago

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Tommy Springdale, AR

They are easy to get along with and always willing to help out.

2 years ago

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Carl Lakeside, CA

They were just easy to work with and great.

2 years ago

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Jenna Eldorado, OH

They are Very understanding and great customer service

2 years ago

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Ronald Wallace

Very good to work with they are fast and honest

2 years ago