Who National Funding Is Best For
National Funding is typically best for business owners who:
- Can afford to submit payments frequently. National Funding requires daily or weekly payments in many cases. If you have enough cash flow to afford this payment structure, then National Funding may be a good option.
- Have at least $250,000 gross annual sales. Your business must have at least $250,000 gross annual sales to qualify for a National Funding loan or equipment lease.
- Can afford to pay off their loan early. Businesses that repay the total remaining balance of equipment financing loans early, at any point in the term, receive a 6% discount on the remaining balance. Businesses that repay their working capital loan within the first 100 days receive a 7% discount off the total remaining balance.
Featured Partner Offers
1
OnDeck
$5,000 to $250,000
Not disclosed
625
2
American Express Business Blueprint™
$2,000 to $250,000
Varies by loan term
of at least 660 FICO at the time of application
3
National Funding
$10,000 to $500,000
Buy rates start at 1.11%
600
Who National Funding Isn’t Right For
National Funding may not be best for business owners who:
- Have cash flow issues. Business owners who apply for a working capital loan have to make payments daily or weekly. If your business has inconsistent cash flow, you may have trouble with such a frequent payment schedule.
- Need equipment financing over $150,000. National Funding only provides equipment financing up to $150,000. If the equipment you need to finance is more than $150,000, you’ll need to look elsewhere.
What National Funding Offers
- Short-term working capital loans: Working capital loans allow borrowers to use their funds for all working capital needs, including inventory, payroll, marketing, taxes and more.
- Equipment financing: Business owners who need to finance business equipment, including everything from small items like electronics to large manufacturing machinery, can rely on equipment financing options.
National Funding Business Loans Details
National Funding Working Capital Loan
National Funding offers short-term working capital loans with terms of four months to two years and loan amounts of up to $500,000. Repayment is required daily or weekly and pay rates start as low as 1.11.
National Funding Equipment Financing
National Funding provides equipment financing up to $150,000 with a pay rate as low as 1.11. There is no down payment required, and businesses can finance both new and used equipment. Terms range from two to five years and payment is due monthly.
How to Qualify for a National Funding Business Loan
Business loan applications are approved or declined based on a number of factors. All lenders have their own unique underwriting requirements, but these typically include information from an applicant’s credit profile and other factors that demonstrate the ability to repay the loan, such as business revenue. Meeting the requirements below won’t guarantee approval, but they can help you decide if a business loan is the right fit for you.
Personal Credit Score
National Funding recommends a minimum credit score of 600 to qualify for its small business loans and equipment financing.
Time in Business
To qualify for a working capital loan or equipment financing, you must have been in business for at least six months.
Gross Annual Sales
National Funding requires minimum gross annual sales of $250,000.
How to Apply for a National Funding Business Loan
To apply for a National Funding business loan, you need to provide your name, contact information and estimated annual gross sales. A National Funding representative will contact you once you submit that basic information. You may have to provide specific documents to prove your gross sales and how long you’ve been in business.
To apply for equipment financing through National Funding, you first need to get a quote for equipment costs through the provider. Once you know how much the equipment will cost, you can apply for equipment financing through National Funding.
Like when applying for a working capital loan, you’ll likely have to show documents that prove how long you’ve been in business and that your gross sales meet their requirements.
If you’re approved after you submit your formal application, you may receive your funds in as little as 24 hours.
Related: Best Small Business Loans
Customer Reviews
National Funding has 4.5 out of 5 stars on Trustpilot with more than 1,400 reviews. They have an A+ rating from the Better Business Bureau (BBB). There have been 71 complaints closed in the last three years. Several complaints address business owners receiving unsolicited business loan offers
Methodology
We reviewed National Funding based on 16 data points in the categories of loan details, loan costs, eligibility and accessibility, customer experience and the application process. We rated National Funding based on the weighting assigned to each category:
- Loan cost: 35%
- Loan details: 25%
- Customer experience: 20%
- Eligibility and accessibility: 10%
- Application process: 10%
Within each major category, we also considered several characteristics, including available loan amounts, repayment terms and applicable fees. We also looked at minimum credit score and time in business requirements and the geographic availability of the lending platform. Finally, we evaluated National Funding’s customer support tools, borrower perks and features that simplify the borrowing process—like online applications, prequalification options and mobile apps.
To learn more about how Forbes Advisor rates lenders, and our editorial process, check out our Loans Rating & Review Methodology.
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