National Business Capital 2023 Review
National Business Capital Review - Pros, Cons and Options
A wide variety of financing options, quick approvals, and fast funding set National Business Capital apart from the crowd.
From time to time, many small businesses need some extra cash. Whether it’s to cover a big tax bill or to make payroll, to purchase new equipment or renovate the office, or to jump on that big business opportunity that could take you to the next level, not having the money to do what your business needs can cost you a lot.
With only about 30 percent of small businesses that apply receiving funding through traditional banks and financial institutions annually, there’s a big gap between those businesses that need funding and the people who have the money to offer.
Rather than relying on traditional banks and financial institutions, a variety of non-traditional lenders have popped up in recent decades. These lenders often have lower requirements for approving funding, meaning newer, smaller businesses with less cash flow have a better chance of receiving the money they need.
National Business Capital offers 14 different financing options to businesses, many of them small.
The company boasts a 90 percent approval rating on its financing, and it puts less stock in your personal credit score than do other institutions. Its requirements for qualifying for a loan also are lower, as National Business Capital only requires you be in business for at least three months and your business brings in at least $10,000 per month.
These less strict requirements make National Business Capital attractive to startups that need a little extra boost or smaller businesses that may have had financial troubles in the past.
National Business Capital: What You Need to Know
National Business Capital is a loan broker. They partner with more than 75 companies who bid for your loan. This can help you get a more competitive rate and better terms than you would working directly with one company.
National Business Capital offers 14 different types of small business financing, including:
- Small business loans
- Lines of credit
- Accounts receivable financing
- SBA loans
- Equipment financing
- Loans for doctors and dental practices
- Merchant cash advances
- Franchise funding
- Purchase order financing
- Commercial mortgage financing
- Startup business funding
National Business Capital also offers four unique products, including:
- Hybridge SBA Loan
- Performance Advance
- eQuickment Financing
- CannaBusiness Financing Solutions
They have worked with companies across a wide variety of industries to help them get the funding they need to succeed.
How Does National Business Capital Work?
National Business Capital offers a variety of small business funding options, including several exclusive products.
Once you fill out the application for financing, you are matched with a business financing advisor who helps you through the rest of the process. This person may collect additional information on you or your business, and can walk you through the options for which you qualify.
Depending on your personal qualifications, how much you borrow, the type of loan you choose, and the terms of that loan, your interest rate and fees may vary. For those businesses with a good credit history or who don’t want to borrow too much money, interest rates will be lower than those who may be seen as a risk to National Business Capital.
Where is National Business Capital Available?
National Business Capital is available to businesses in all 50 states, though not all products will be available in all states.
How Much Does National Business Capital Cost?
The amount you will pay for borrowing money depends on a variety of factors, including:
- Your personal credit history
- Your business’s previous success
- How much you borrow
- What type of funding you choose
- The terms of the funding you choose
Those businesses that choose shorter-term loans or certain products, such as merchant cash advances, may end up paying more than businesses that elect more traditional term loans.
What Types of Funding Does National Business Capital Offer?
National Business Capital offers 14 different types of funding to small businesses.
Those products include:
- Small business loans - Traditional loans with both secured and unsecured options
- Lines of credit - Flexible borrowing allowing you to withdraw money until you reach your credit limit
- Accounts receivable financing - Borrow money against invoices you expect to receive from your clients
- SBA loans - National Business Financing can help you apply for loans backed by the Small Business Administration
- Equipment financing - Get funding to purchase vehicles, heavy machinery, computer equipment, and more
- Loans for doctors and dental practices - Specific funding options for healthcare professionals
- Merchant cash advances - Borrow against future credit and debit card transactions, and pay the loan back from these transactions
- Franchise funding - Receive funding to open a franchise
- Purchase order financing - Receive funding to purchase supplies necessary to fulfill customer orders before the customer pays their invoice
- Commercial mortgage financing - Get financing to purchase or refinance commercial property
- Startup business funding - Startup businesses can receive the cash they need to get off the ground
They also offer five exclusive funding types, such as:
Hybridge SBA Loans
SBA loans are loans backed by the Small Business Administration. They usually come with lower interest rates and longer repayment terms, making them affordable for many small businesses.
However, they can be difficult to qualify for and take a long time, meaning many businesses that need quick cash stay away from them.
National Business Capital’s Hybridge SBA Loans aim to offer those same great terms but to speed up the funding process. Hybridge SBA Loans are available to businesses that have been in business at least two years, bring in a minimum of $10,000 monthly on average, and that have credit scores of at least 685.
Funding is available between $50,000 and $5 million, repayable in terms from five to 25 years.
National Business Capital’s accelerated process provides SBA funding in as little as 45 days from application, a significant decrease in wait times over traditional SBA loans.
If your business performs well, you may have access to up to twice as much funding through National Business Capital.
This pay-as-you-perform model gives business owners access to higher amounts of money without the need to put up collateral or pay large sums on a set amount. You repay the loan as your business receives money, allowing you to pay more in times when business is good and less when times are a little more lean.
There are no minimum credit scores needed to qualify for the Performance Advance loans, but business do need to be at least 3 months old to qualify.
Sometimes, you need to buy a new piece of equipment yesterday.
With eQuickment Financing, you can get that new piece of equipment fast without paying high rush fees to expedite the process.
Get funding in as little as an hour from your application for up to 100 percent of the purchase price. There are no restrictions on where you can purchase your equipment from, allowing you to get the best price, best quality, and best service.
For equipment purchases valued at less than $75,000, business owners need a minimum credit score of 600. There are no minimum monthly revenue or time in business requirements.
If you’re looking to purchase a piece of equipment valued at more than $75,000, you need a minimum credit score of 600, at least $120,000 in annual gross sales, and have been in business at least six months.
CannaBusiness Financing Solutions
Finding funding in the cannabis industry can be difficult due to its use still being illegal on the federal level.
For those businesses looking to break into the cannabis space, National Business Capital offers funding. You are required to have been in business at least a year and make at least $10,000 monthly. There is no minimum credit score required.
National Business Capital works with cannabis businesses at all levels, including:
- Cultivation, growing, and farming
- Hemp and CBD products
- Marijuana products
- Consumption devices
- Cannabis-specific marketing and business development agencies
Unsecured funding is available, meaning you don’t have to put up collateral to qualify for a loan. Approvals can be made in as little as 24 hours, and some business owners can receive their funding in as little as 48 hours.
National Business Capital Business Financing Features:
- Founded in 2009
- A+ rating from the Better Business Bureau
- Quick approval decisions and funding with some products
- Wide variety of loan products available
- Unique loan products, including Hybridge SBA Loans, Performance Advance, eQuickment Financing, and CannaBusiness Financing Solutions
- Excellent consumer reputation and customer reviews
- Wide variety of downloadable resources to help small business owners
- National Gives Back program benefits Habitat for Humanity, the American Red Cross, Feeding America, the Make-a-Wish Foundation, and more
- Partnered with more than 75 loan companies
Pros and Cons of National Business Capital Business Financing
Here are some of the pros and cons of choosing National Business Capital:
- A+ rating from the Better Business Bureau
- Excellent customer reviews
- Wide variety of loan products
- Unique loan products available
- Variety of downloadable resources and educational materials
- Quick approval decisions and funding
- National Gives Back program supports charities
- Flexible borrower requirements, with some products requiring no minimum credit score or monthly revenue
- High approval rating, with around 90 percent of applicants receiving funding
- Partnered with more than 75 loan companies who compete for your business, meaning you may get better interest rates and terms
- Some products may carry high fees and interest rates
- Some customers report a lack of clarity in terms, fees, and requirements
- Everything is done online, lacking the personal touch for some customers
National Business Capital Customer Reviews
National Business Capital has overwhelmingly positive reviews. Consumer reporting site Trustpilot has more than 400 reviews of the company, giving them an average star rating of 5 out of 5.
“What I CAN NOT say is that Alex has let me down. He has come through now on 3 loans for me and National itself has done 4 deals for me. He is very customer service oriented and hes very efficient as well as professional. He knows and does not promise past what his limitations are. I respect and appreciate that.He has been 100% on board with me since I first spoke with him. To National I say he is a true asset and a up and comer.”
To the lenders out there I say, I am very happy with these guys. They are genuine pros....Nick( a manager at the office) is a gentleman as well. I get happier with each deal. The truth is that I can choose from 100 Capitol sources that do this kind of lending because I get calls everyday. I always choose National.” - Jimmy
_“I want to start out by saying thank you to the National Business team for their continued support and assistance with mentoring and helping grow my business. Initially funding was all I was expecting to get from the National team, however a few days later there was a text message from John saying he would be my personal mentor throughout my time with National. At first, I didn’t think much of it. John kept me motivated and helped me evaluate my business with daily exercises that were priceless!!! I could not recommend a better company to assist anyone who wants to grow their business. Thanks again John and the National team!!!!!” _- Quentin
How to Apply for National Business Capital
Applying for financing through National Business Capital is quick and easy, and you can expect to receive a decision in as little as 24 hours in most cases.
- Visit www.national.biz.
- Provide them with some basic information about your business, including your business’s legal name and address, total annual sales, and how much you want to borrow. You also will need to provide basic contact information about yourself.
- A business consultant contacts you within 24 hours to discuss your application and your funding needs, and collect any additional information that may be required.
- National Business Capital sends your information to its network of lenders, who evaluate your qualifications and bid for your business.
- You receive a list of options to choose from and select the financing that’s best for you.
How to Contact National Business Capital
Address: 1 Corporate Drive Suite 202 Bohemia, NY 11716 **Customer Service: **(877) 482-3008 **Email Support: **[email protected] Website: www.national.biz Facebook: https://www.facebook.com/GroWithNational/ LinkedIn: https://www.linkedin.com/company/nationalbusinesscapitalandservices/ **Twitter: **@GroWithNational YouTube: https://www.youtube.com/channel/UCgXXKqv1zDrdXkM-go1fcwA **Instagram: **@growithnational Pinterest: https://www.pinterest.com/GroWithNational/
Does National Business Capital Offer Other Kinds of Financing?
National Business Capital does not offer other types of financing, but it does provide a variety of other services. Some of those services include:
- Answering service
- Credit card processing
- Incorporation service
- Payroll and human resources
- Tax liens and legal
National Business Capital Review – Summary
Finding funding for your small business can be a frustrating, time-consuming process. And, if you get rejected, it can be devastating.
To help out small businesses such as yours, National Business Capital helps match you with one of more than 75 lenders for a wide variety of funding options. These lenders compete for your business, often meaning you get the lowest interest rates and best terms available on the market.
Their easy application and quick decision times make National Business Capital one of the top choices for small business financing.
Frequently Asked Questions
How Does National Business Capital Match Me with Lenders?
They use a combination of your personal qualifications, your business’s success, the amount you’re looking to borrow, and the type of funding you want to receive.
How Often Does National Business Capital Approve Loans?
National Business Capital says they approve financing for 90 percent of those who apply, making them among the highest in the industry.
Reviews for National Business Capital
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Our Business Loans Partners
Biz2Credit, BlueVine, Fundera
|Credit Score Required|
|Minimum Loan Amount||$25,000|
|Max Loan Amount||$5,000,000|
|Minimum Monthly Revenue||$10,000|
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