National Business Capital
4.9
7.0
Overall Score
Author: Kaitlyn Short
National Business Capital opened its doors in 2007. Based in New York, the company customizes business finance for every size and type of business by offering many loan options. Loans include small business loans, accounts receivable financing, commercial mortgage financing, equipment leasing and financing, merchant cash advances, SBA loans, and more. Customers enjoy zero upfront fees and receive approval in 24 hours or less.
National Business Capital holds a 90 percent approval rate. National Business Capital is a member of the National Restaurant Association, a member of ETA, and an ASA associate member. The lender is also an approved vendor with vendorseek.com. Consumers that choose National Business Captial should remember that they must have a credit score of 550 or higher.
Top Ranked Companies
The Good
- High Approval Rate
- Alternative Financing
- Flexible Requirements
- Variety of Business Financing Options
High Approval Rate
The National Business Capital platform helps the majority of the businesses who apply for a loan through them. Business owners should be able to gain access to necessary funds quickly.
National Business capital holds a 90 percent loan approval rate, with 70 percent of clients being previously turned down by a bank before reaching out to National Business Capital.
Alternative Financing
Leaders such as National Business Capital are utilizing newer, faster ways to process and approve loans which make the financing experience far simpler for business owners. Many small business owners are turning this direction because of bank decline rates for business loans.
Flexible Requirements
Depending on the financing options, many National Business Captial loans do not require a personal guarantee or collateral. These lenient requirements give borrowers more freedom in their lending options and make the lender accessible to a wider range of clients.
Variety of Business Financing Options
National Business Capital has numerous loan options from small business loans to equipment financing. Here’s a breakdown of what the company has to offer:
Small Business Loans
- 1+ year in business
- $500,000 in annual gross sales
- No minimum credit score
- No collateral or personal guarantee
- $100,000 - $5,000,000 loan amounts
- Flexible terms
- Funding in 1-3 business days
Business Line of Credit
- 1+ year in business
- $500,000 in annual gross sales
- No minimum credit score
- No collateral or personal guarantee
- $100,000 - $5,000,000 loan amounts
- Revolving terms
- Funding in 1-3 business days
Accounts Receivable Financing
- 6+ months in business
- $500,000 in current receivables
- No minimum credit score
- $100,000-$5,000,000
- Revolving terms
- Funding in 1-3 business days
SBA Loans
- 2+ years in business
- $500,000 in gross annual sales
- 685+ credit score
- Ownership of a profitable business
- $100,000-$5,000,000 loan amounts
- FUnding in as soon as 45 days
Equipment Financing
- 1+ year in business
- $500,000 in annual gross sales
- 700+ credit score
- $100,000-$5,000,000 loan amounts
- Funding in 2-5 business days
Loans for Doctors and Dental Practices
- 1+ year in business
- $500,000 in annual gross sales
- No minimum credit score
- $100,000-$5,000,000 loan amounts
- Funding in 1-3 days
Revenue-Based Financing
- 6+ months in business
- $500,000 in annual gross sales
- No minimum credit score
- No collateral or personal guarantee
- $100,000-$5,000,000 loan amounts
- Flexible terms
- Funding in 1-3 business days
Franchise Financing
- 6+ months in business
- $500,000 in annual gross sales
- No minimum credit score
- No collateral or personal guarantee
- $100,000-$5,000,000 loan amounts
- Flexible terms
- Funding in 2-7 days
Purchase Order Financing
- No minimum time in business
- $500,000 in current invoices
- No minimum credit score
- No real estate collateral required
- Up to 90% of the purchase order value
- Flexible, ongoing terms
- Funding in 3-7 business days
The Bad
- Customer Complaints
Customer Complaints
The complaints found online for the company are about mailers the company sends out. Customers have also complained about the company's lack of clarity regarding eligibility requirements, and whether National Business Capital's services are available in every state.
The Bottom Line
This is a company with multiple years of experience in the business finance industry. Not being a traditional bank, the company has regulations that are less time-consuming and not as harsh of guidelines as a traditional bank.
National Business Capital claims that 70 percent of its clients were turned down previously by a bank. Although National Business Capital has a 90 percent approval rate for most financing options, business owners need to take into consideration the company's lack of information on their website.
