Name: National Funding, Inc.
Number of businesses served / Loan volume: Unavailable
General information: National Funding provides small business loans for working capital. The company also has an Equipment Leasing program that allows businesses to lease new or used equipment from a variety of vendors. Use our handy Equipment Lease Calculator to estimate payments on an equipment lease.
National Funding also has a Merchant Cash Advance program that offers same-day approval for cash advances based on credit card receipts. For an overview of how merchant cash advances work, click here. The credit requirements are relatively lenient – 1 year in business and at least $3,000 a month in credit card transaction sales. National Funding also has a Merchant Account program that allows businesses to accept credit cards, debit cards, loyalty cards and gift cards. For more information, read our review of the Best Credit Card Processors for small businesses.
Range of loan amounts:
Small business loans up to $150,000
Merchant Cash Advance up to $250,000
Equipment Leasing up to $100,000
Average loan size: $32,000
Quoted in factor rate or interest rate? Interest for business loans and factor for cash advances.
Interest rate ranges: 5.9% to 29.9%
Average interest rate / factor rate:
Interest rate structure: Pre-calculated.
Loan repayment method: Daily repayment in the form of a fixed percentage of total sales deducted from the business account.
Guarantee requirements: None
Need some money for your business? Click here to get our FREE Guide:
How to Get a Small Business Loan.
Noteworthy National Funding Reviews
Better Business Bureau – A+ BBB Complaints and Reviews
Credit Boards – Credit board users are skeptical about the legitimacy of National Funding. Several users report receiving pre-approval credit cards in the mail with their names on them and getting unsolicited phone calls from National Funding sales reps. One borrower who uses National Funding to lease equipment regrets doing business with the company. Another user says his company has received high interest loans from National Funding three times because they can’t seem to get credit anywhere else. [Read more ]
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