National Business Capital Review
National Business Capital, based in NY, offers loans and financing to small businesses. Since 2012, the company has secured over $1 billion in funding for small businesses in the U.S. through peer lending programs from more than 75 lenders.
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What we like:
No origination fees
|Estimated APR||9.00% – 60.00%|
|Loan Amounts||$10,000 – $5,000,000|
|Term Lengths||6 months – 10 years|
The rating in the box above covers all of National Business Capital’s small business financing products. The product information in the box above is only about the term loan product.
If you’re a small business owner, then you know how difficult it can be to run a profitable business, and get financing when you need it. Whether you are looking to expand, buy inventory or new equipment, or just infuse your business with operating cash, National Business Capital likely has a product that can help you — and a lender that’s willing to work with you.
What National Business Capital Offers
National Bank Capital has a wide variety of products for business owners including lines of credit, loans secured by your accounts receivable, equipment financing, and even franchise financing.
For more simple financing, National Business Capital also offers term loans. As a partner with the U.S. Small Business Administration, the company also has SBA-backed loan programs that can help expedite your funds and get you closer to your goals.
Basic Information: Rates, Terms Fees, and Limits
Business Line of Credit
With a line of credit, you can receive from $10,000 to $5 million in funding that you can use when you need it, with flexible terms from six months to 10 years. You don’t need a minimum personal FICO score. NBC works off of your business’ numbers and not your personal credit. Interest rates start at 6%, with no origination fees.
Because SBA loans are guaranteed by the federal government, they come with lower rates, larger loan amounts, and less fees than a traditional loan. They also have longer terms — up to 25 years in some cases. Express funding is also available on loan amounts of $350,000 or less, with a total maximum of $5 million. Rates may be lower than 6% depending on your application.
Accounts Receivable Financing
With Accounts Receivable financing, you can turn your outstanding billings into cash. Express funding means you’ll get your money — from $10,000 to $5 million — within only two to five days. According to NBC’s website, there is a 90% approval rate for Accounts Receivable financing, and the terms are flexible based upon your business and the loan package.
Equipment & Franchise Financing
If you need equipment — regardless of your industry — or you’re looking to start or expand a franchise, National Business Capital can help. Loans start at $10,000 and go up to $5 million, with flexible terms of five to 10 years and short funding turnaround.
National Business Capital’s term loans – typically known as small business loans – can be as short-term as six months or as long-term as 10 years. Rates depend on your loan application and business health, but your personal credit doesn’t factor into the loan decision. As with other loan programs, National Business Capital offers $10,000 to $5 million in financing, with plenty of loan calculators to help you figure out the best loan and term for you.
How to Get Financing from National Business Capital
Applying for financing is easy. First you’ll fill out an online application through a fairly quick process. A business financing advisor will call you for your financing consultation. You’ll need to convey how long you’ve been in business and how much revenue your business brings in each year. While you’ll need to provide your credit score, NBC works with all credit profiles — you don’t have to have perfect credit to be approved for a loan.
While National Business Capital works with all types of credit, if your business is in trouble or your personal credit score is low, your interest rates could be much higher than another business that’s doing well with an applicant who has excellent credit.
In addition, if you prefer to work with someone face-to-face when it comes to business financing, National Business Capital might not fit that bill. Since this company is a conduit for 75 lenders, business is conducted purely by phone and online. Their Better Business Bureau rating, however, is A+ with few complaints.
Is It Worth It?
Small business financing is always a risk. As a business owner, you need to expand or purchase things at the right time, and ensure that the purchase is not only worth the price, but that any financing doesn’t cut into your profits. National Business Capital advisors may be able to help you find the right solution for your business to help you reach your financial goals.
Author: Jeff Gitlen