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National Funding offers small businesses working capital and equipment financing loans that help scale and grow operations. Suitable for a broad range of businesses, you could receive approval and funding within 24 hours.
Summary: National Funding will consider applications from borrowers with fair to excellent credit that helps business owners invest in their business.
Loan Terms, Fees, & Rates
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|HQ||San Diego, California, United States|
|Loan Amount||Up to $500,000 for working capital loans and $150,000 for equipment financing loans.|
|Loan Terms||Up to 5 years for equipment financing loans and 24 months for working capital loans.|
|Interest Rate Type||Fixed|
|Collateral Requirements||No collateral required|
|Min. Credit Score||600|
|Min. Monthly Revenue||$10,000|
|Time In Business||6+ months|
|Turnaround Time||As quick as 24 hours|
|State Restrictions||Available in all States|
Serving small businesses nationwide since 1999, National Funding offers two types of business loans.
Here’s a summary of the business loan offers:
|National Funding||Small Business (Working Capital) Loans||Equipment Financing Loans|
|Time in business required||6+ months||2+ years|
|Loan Amount||Up to $500,000||Up to $150,000|
|Loan Term||Up to 24 months||2 – 5 years, 72 months available in special cases|
|Starting rate||1.10-factor rate||4.99 simple interest|
|Early repayment discount||7% discount on the remaining balance if the loan is paid in full within the first 100 days||6% discount on the remaining balance when they pay off the loan early|
|Repayment schedule||Daily, weekly||Monthly|
|Funding speed||As soon as 24 hours, 1-7 days||24-72 hours|
|Origination fees||1 – 3%||1 – 3%|
Regardless of where you’re located across all 50 US states, National Funding can provide lending solutions that give you the cash flow injection you need to grow.
National Funding has a simple loan application process to get started and you could receive approval within 24 hours. It’s a good idea to have the following information on hand:
Once you submit your basic information, National Funding will assign a customer representative to take you through the process. You may need to submit additional documentation such as audited financials that prove your gross annual sales. Funding could be deposited into your account in as little as 24 to 48 hours.
A personal guarantee is required for both working capital and equipment financing loans.
National Funding Business Loans can be used for a range of purposes. Working capital loans can help your business finance daily operations and cover short-term business needs. Some of these include:
Sometimes your business may require an equipment upgrade or additional working capital. An equipment financing loan can help you with the following:
Terms for equipment financing loans are between 2 – 5 years where payments are made monthly. Working capital loans have daily or weekly payments over a term of 4 – 24 months.
When taking out a small business loan an origination fee of 1 – 3% may apply. There are no early repayment fees or penalties.
Payment schedules can be daily, weekly, and monthly. All payments are withdrawn via ACH, Monday – Friday.
If you’re looking to pay off your business loan early, you could be eligible for an early payment discount between 6 – 7%. Balances must be paid off in full and accounts must be in good standing.
National Funding does not disclose industry restrictions. However, the following industries could be eligible for a small business loan:
A full list of industries can be viewed on their website.
To get in touch with National Funding, you can call 888.733.2383 or email [email protected] from Monday to Friday 7:30 am to 4:30 pm PT. Customer service representatives aim to solve all your questions and issues in a timely manner.
In addition, National Funding has an excellent rating on Trustpilot with an average 4.8 rating and over 1500 reviews. Many of the positive customer experiences enjoyed the seamless application process and fast turnaround.
National Funding has an A+ with the BBB. Serving small businesses since 1999, the company has extensive experience in a range of industries lending over $4.5 billion in capital to over 75,000 businesses nationwide.
National Funding is the ideal partner for your small business financing needs if you require fast funding, the ability to pay off your loan early, and you have consistent cash flow.
Businesses with fair or bad credit are encouraged to apply since additional variables such as your annual gross revenue and time in business are taken into consideration during the loan application process.
Where National funding falls short are the daily or weekly repayments required on working capital loans. As a small business owner, you may feel a strain on your cash flow and any missed payments could hurt your credit score.
Overall whether you’re experiencing a slow season or considering an exciting opportunity to expand your operations, short-term business financing with National Funding can support your growth and keep your everyday operations running smoothly.