National Funding Merchant Cash Advance Review 2023
Loan Amount
Factor Rate
Terms
Min Credit
Time to Fund
Company Profile
National Funding is a financial services company that specializes in serving the needs of small businesses. Founded in 1999, the company has been dedicated to offering fast and easy working capital loans and equipment financing. Over the years, National Funding has built a reputation for its personalized lending solutions and variable payment options tailored to the specific needs of businesses. The company has helped over 75,000 businesses nationwide, funding over $4.5 billion in capital.
The company prides itself on its fast and easy process. Business owners can simply submit a one-page application and three months' business bank statements to get funding within as little as 24 hours. National Funding has a high customer rating on Trustpilot, with many customers praising the company's efficient service and supportive staff.
Products & Services
National Funding offers a range of financial solutions for small businesses. Their main offerings include Small Business Funding via a business cash advance and Equipment Financing.
Small Business Funding provides cash for inventory, payroll, or taxes. Businesses can get from $5,000 to $400,000 in business cash, which can be used for any business purpose. The terms are flexible with no early repayment penalty, and funds can be sent to your account within hours.
Equipment Financing is for businesses looking to purchase or lease equipment. They can finance new or used equipment up to $150,000, with financing up to 100% of business equipment cost. There are no upfront fees or down payment required, and businesses have the ability to use Section 179 Tax Deduction.
Pros and Cons
Pros:
1. Fast and easy process: National Funding offers a quick and straightforward application process, with funding available within as little as 24 hours.
2. Flexible terms: The company provides flexible terms with no early repayment penalty, allowing businesses to manage their finances more effectively.
3. Wide range of funding options: From small business funding to equipment financing, National Funding offers a variety of financial solutions to meet different business needs.
4. High customer satisfaction: The company has a high customer rating on Trustpilot, indicating a high level of customer satisfaction.
5. Extensive experience: With over two decades of experience in the industry, National Funding has a deep understanding of the financial needs of small businesses.
Cons:
1. Information on loan terms and rates is not readily available on the website, which may make it difficult for potential customers to make informed decisions.
2. The company does not provide services to all industries, which may limit its reach.
3. Some customers have reported difficulties in communication with customer service.
4. The company's services are not available in all states, limiting its accessibility for some businesses.
5. Some customers have reported that the company's loan terms and conditions are not as flexible as they would like.
Ideal Customer
The right type of customer for National Funding is a small business owner who needs fast and flexible funding solutions. This could be a business that needs cash for inventory, payroll, or taxes, or a business that is looking to purchase or lease equipment. The company's services are particularly beneficial for businesses that need quick access to funds, as National Funding can provide funding within as little as 24 hours.
Required Documentation
To apply for funding from National Funding, businesses need to submit a one-page application and three months' business bank statements. This streamlined process allows businesses to get funding quickly and easily. However, the specific documentation required may vary depending on the type of funding and the individual circumstances of the business.
Industries and Restrictions
National Funding serves a wide range of industries, including construction, commercial trucking, agriculture, medical practices, landscaping, and senior care. However, the company does not provide services to all industries, and there may be restrictions depending on the specific circumstances of the business.
State of Operations
National Funding operates in many states across the U.S. However, the company's services are not available in all states. The specific states in which National Funding operates and any state restrictions are not clearly stated on the company's website.
Basic Qualifications
The basic qualifications required to receive funding from National Funding are not clearly stated on the company's website. However, the company does mention that businesses need to submit a one-page application and three months' business bank statements to apply for funding.
Collateral or Guarantees
The type of collateral or guarantees required for National Funding's products is not clearly stated on the company's website. Businesses interested in National Funding's services should contact the company directly for more information.
Alternatives
While National Funding offers a range of financial solutions for small businesses, there are other options available for businesses that need funding. These include traditional bank loans, credit unions, and other online lenders. Businesses may also consider crowdfunding or seeking investment from venture capitalists or angel investors. It's important for businesses to explore all available options and choose the one that best fits their needs and circumstances.