National Business Capital [2021 Loan Marketplace Review]

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National Business Capital

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National Business Capital Review

National Business Capital

National Business Capital is a lending advisor and matchmaking service provider that focuses primarily on linking small businesses with a network of over 75 lenders. The services and products offered are diverse and cover the needs of many businesses. However, this also means the cost of the service may be higher compared to other lenders because of the premium charged for the matching service. Nevertheless, it may be a small cost to pay for getting top of the line service.

Onto our National Business Capital review!

Services Offered

  • Term loans
  • Lines of credit
  • Equipment financing
  • SBA loans
  • Startup funding
  • Franchise financing
  • Commercial mortgage financing

National Business Capital Eligibility Criteria

The eligibility criteria for most of the services are:

  • Time In Business. 3 months No time limit if the credit score is above 650.
  • Credit Score. Not applicable to small businesses, 620 for Startups.
  • Revenue. $120,000 in gross annual sales.

Even if a business does not meet the above-mentioned criteria, they can find suitable options through alternative programs offered by National Business Capital. 

Commercial mortgage financing has the following eligibility criteria:

  • Time In Business. 2 years.
  • Credit Score. 620+
  • Revenue. $250,000 in gross annual sales.

National Business Capital Interest Rates & Terms

The terms and rates are as follows:

Small Business Loans

  • Borrowing Limit. $10,000 – $5000,000.
  • Term Length. 6 months – 10 years.
  • Factor Rate/Interest Rate. Not disclosed.
  • Origination Fee. Not disclosed.
  • Collateral. Dependant on loan.

The small business loans are term loans, which means funds are transferred in a lump sum and paid back in daily, weekly, or monthly repayments. These loans can be secured or unsecured and are determined on a case by case basis by the lender. Details of origination fees and other charges haven’t been disclosed as these depend on the lender. 

Business Line Of Credit

  • Credit Limit. $10,000 – $5000,000.
  • Term Length. 6 months-10 years.
  • Factor Rate/Interest Rate. Not disclosed.
  • Origination Fee. Not disclosed.
  • Collateral. None.
  • Maintenance Fees. Depends.

Interest on lines of credit is only paid on the withdrawn amount and ceases to be charged once the due amount has been repaid. It is a revolving line of credit which means it is replenished once it is paid back in full. 

Merchant Cash Advance

  • Credit Limit. $10,000 – $2000,000.
  • Term Length. Flexible.
  • Factor Rate/Interest Rate. Not disclosed.
  • Origination Fee. Not disclosed.
  • Collateral. None.

A merchant cash advance is a short term loan where the lender claims future sales of the borrower. The lender will withhold a percentage of sales on a daily or weekly basis until the loan is repaid. To find out how much of your sales will be withheld, simply multiply the total amount of credit received with the applicable factor rate. 

Equipment Financing

  • Borrowing Limit. $10,000 – $5000,000.
  • Term Length. 1-5 years.
  • Factor Rate/Interest Rate. Not disclosed.
  • Origination Fee. Not disclosed.
  • Collateral. Equipment purchased.

Equipment financing is a type of lease or short term loan. Loans taken out for equipment financing must be used for the stated purpose.

The asset in question serves as collateral until the loan is repaid. If it takes the form of a lease then all the usual procedures of a lease will follow. It will have to be determined whether this is a finance lease or an operating lease when the title passes, and whether there is a bargain purchase offer at the end or not. 

SBA Loans

  • Borrowing Limit. $50,000 – $5000,000.
  • Term Length. 10-25 years.
  • Factor Rate/Interest Rate. SBA loan rates.
  • Origination Fee. SBA fees + any lender fees.
  • Collateral. Varies by type.

Startup Business Funding

  • Borrowing Limit. $10,000-$5000,000.
  • Term Length. 6 months to 10 years.
  • Factor Rate/Interest Rate. Not disclosed.
  • Origination Fee. Not disclosed.
  • Collateral. Not Applicable.

Many online lenders do not provide lending services to startups, which can be a bit frustrating if you have just started your own venture. National Business Capital has a separate service that offers startups easy access to the funding they require to grow their business.

Startups can apply for working capital funding and can also build credit along the way. National business capital only requires three months of bank statements for the loan, however, the minimum credit score must be 620. 

Franchise Financing

  • Borrowing Limit. $10,000 – $5000,000.
  • Term Length. 6 months to 10 years.
  • Factor Rate/Interest Rate. Not disclosed.
  • Origination Fee. Not disclosed.
  • Collateral. Not applicable.

Franchise financing offers business owners the much-needed funds to expand their small business into a fast-growing medium-sized business. 

Commercial Mortgage Financing

  •  Credit Limit. $500,000 – $10,000,000.
  • Term Length. 15 – 25 years.
  • Factor Rate/Interest Rate. Not disclosed.
  • Origination Fee. Not disclosed.
  • Collateral. Yes, the property in question.

Commercial mortgage financing is aimed at helping business owners buy or refinance land or a building used for business. Commercial mortgages carry fixed-rates in most cases. 

National Business Capital Application Process

The National Business Capital application requires very few documents and keeps things as simple as possible.

  • At least three months of bank statements are required.
  • Tax returns are not required but should be submitted if possible to increase your chances of a better outcome. 

Once these preliminary details have been gathered, a business advisor will get in contact to curate the application to attract the best possible lenders.

After this, applicants will be matched with multiple lenders to choose from, and a business advisor will be available for any further help or guidance.

Most loans will be transferred to the applicant within three working days, however, SBA loans may take longer, and startup funding may take up to five weeks.

Customer Service

National Business Capital & Services can be contacted via:

  • Phone
  • Email
  • Live chat
  • Social media platforms

National Business Capital Reviews

National Business Capital reviews are generally positive. The positive reviews focus on the fast and convenient process starting from the application and transfer of funds, helpful customer service, a diverse range of options available, and a large number of lending partners. The negative reviews mainly focus on confusion over some of the policies, rates that are higher than market rates, and aggressive marketing campaigns.  

Pros

  • A diverse range of products
  • Fast and convenient service
  • Quick application process

Cons

  • Rates are slightly higher

National Business Capital & Services Reviews: Final Thoughts

National Business Capital is a lending matchmaker making it an ideal option for time-poor business owners, or those confused by all the lending options available online. The good thing about National Business Capital is that it offers products that are so diverse that many businesses can find what they are looking for. However, rates can be high and if you look around yourself, you may find a lender with lower rates.

Check Your Eligibility With National Business Capital

Choose from a variety of financing options (based on your needs)

Thanks for reading our National Business Capital review.

You may also be interested in No Credit Check Loans For Small Business.

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