National Business Capital reviews

8.8

Overall

8.8/10

Funding Speed

9.2/10

Advance Amount and Fees

8.5/10

Transparency

8.5/10

Service and Support

8.8/10

Pros

  • Broad product offering.
  • 90% approval rate.
  • Large network of lenders (75+).
  • Provided a dedicated advisor to coordinate the transaction.
  • Been in business for 10+ years.

Cons

  • Interest rates start at about 9%.*
  • Unsecured loans may require a personal guarantee from the business owner.
  • Sales members reportedly paid 100% by commission. Can lead to aggressive sales tactics.

National Business Capital Reviews

See above info for National Business Capital Reviews. If you are a current or former NBC customer, we’d like to hear from you. How was your experience? Are you a repeat user?

National Business Capital is an online lending marketplace with headquarters in Bohemia, New York. Since their founding in 1999, National Business Funding reports providing funding for thousands of small businesses with total funding volume of over $1 billion, as of 2015. Such loans have provided much needed net working capital to businesses in the Northeast and nationally (many in California according to their funding map).   

NBC is not a direct lender. Rather, they provide a variety of small business funding options through over 75 partnerships. When a business approaches National Business Capital, they fill out a single application and gain access to their wide network of lenders.

Small businesses encounter an almost overwhelming number of funding options. These include invoice financing, small business loans, commercial mortgage financing, merchant cash advances, franchise financing and business lines of credit.

NBC seems to have a surprisingly large number of employees (the ‘team’), yet none of them list their last names on the site (the only ones that do are the co-founders). There also appears to be a casual, non-traditional culture overall. This isn’t necessarily a problem- the ability to connect a borrowing business with the funding they need is the most important concern.

The reviews we found on National Business Capital were overwhelmingly positive, although there were a few bad ones. But, those were the vast minority for NBC.

How is National Business Capital Different from Other Factoring Companies?

National Business Capital is not a factoring company- they are an online marketplace where small businesses come to shop for funding (which includes invoice financing). They’re also not a direct lender. The lines of credit, business cash advances and invoice factoring will be done through partner firms, not NBC.  Similar to Fundera, business borrowers fill out one online application and receive preliminary terms and quotes from a large network of lenders, subject to verification.

Traditional factoring companies focus on one, maybe two, things- accounts receivable factoring and financing. National Business Capital has a huge amount of funding options through their partnerships. These range from merchant cash advances and franchise financing to equipment financing, SBA loans and small business startup loans.  You won’t find many factoring companies where businesses can seek financing from an SBA lender AND a merchant cash advance.

Many of the businesses that seek out NBC have poor or no credit. This is also common within the factoring industry. Bad credit business loans often come with high interest rates, fees and personal guarantees from the business owner.

National Business Capital Pros and Cons

In addition to the National Business Capital reviews above, we reiterate key pros and cons:

Main Pros:

·       Broad product offering.

·       90% approval rate.

·       Large network of lenders (75+).

·       Provided a dedicated advisor to coordinate the transaction.

·       Been in business for 10+ years.

Main Cons:

·       Interest rates start at about 9%.*

·       Unsecured loans may require a personal guarantee from the business owner.

·       Sales members reportedly paid 100% by commission. Can lead to aggressive sales tactics.

 

For more information on National Business Capital:

Who Uses National Business Capital?

Where does their funding come from?

Do they offer specialty financing options?

 

* https://www.newsday.com/business/lenders-woo-li-s-small-and-medium-sized-business-borrowers-1.8836010