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  National Business Capital Business Line of Credit

National Business Capital Business Line of Credit

in Business Lines of Credit from National Business Capital

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National Business Capital Business Line of Credit

Unaffiliated

in Business Lines of Credit from National Business Capital

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Highlights
APR  (Fixed APR) N/A
Credit Score Range 500 - 850
Loan Amount $5,000 - $3,000,000

National Business Capital Business Line of Credit Review

National Business Capital Business Line of Credit is offered by National Business Capital, a marketplace lending platform founded in 2007 and based in Bohemia, NY. National Business Capital Business Line of Credit is available in 50 states (and Washington, DC).

National Business Capital Business Line of Credit FAQ

What APRs does National Business Capital Business Line of Credit offer?

National Business Capital Business Line of Credit offers a fixed APR product, but they do not disclose their rates.

Does National Business Capital Business Line of Credit charge an origination fee?

Yes, National Business Capital Business Line of Credit charges an origination fee.

What limitations does National Business Capital Business Line of Credit set on the purpose of the line of credit?

National Business Capital Business Line of Credit considers line of credit applications for business purposes, such as:

  • Equipment Purchase
  • Hiring
  • Inventory
  • Marketing
  • Payroll
  • Technology Investment

Does National Business Capital Business Line of Credit charge prepayment fees?

Yes, National Business Capital Business Line of Credit charges additional fees to borrowers who pay off their lines of credit sooner than anticipated. Take this into consideration when choosing a lender because prepayment penalties can reduce or even cancel the interest savings of repaying a line of credit early.

How much can you borrow from National Business Capital Business Line of Credit?

Line of credit amounts start at $5,000 and go up to $3,000,000.

What is the maximum term you can get with National Business Capital Business Line of Credit?

National Business Capital Business Line of Credit offers business lines of credit with terms ranging from 12 to 60 months. Having the option of longer terms allows borrowers to take on larger line of credit amounts while keeping monthly payments more affordable. However, the longer the term of the amounts you borrow, the more interest you will pay.

What do you need to qualify for National Business Capital Business Line of Credit?

Applicants with a credit score of at least 500 and up to 850 may be eligible for National Business Capital Business Line of Credit. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

National Business Capital Business Line of Credit does not have or does not disclose a minimum annual income eligibility requirement.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via National Business Capital Business Line of Credit. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by National Business Capital Business Line of Credit. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Recent bank statements
  • Business formation documents
  • Driver's license
  • Government issued photo ID
  • Proof of identity

What are the business financing requirements for National Business Capital Business Line of Credit?

To apply for National Business Capital Business Line of Credit, the applicant needs to provide the following documentation:

  • Business certificate.
  • Business license
  • Business bank account

Does National Business Capital Business Line of Credit report your account activity to credit bureaus?

Yes, National Business Capital Business Line of Credit reports your account activity to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

What types of business lines of credit does National Business Capital offer?

National Business Capital offers both secured and unsecured lines of credit. Secured lines of credit are typically secured by a blanket lien on your assets or a certificate of deposit.

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From National Business Capital Business Line of Credit

Draw more cash as you need it with a business line of credit from National. Apply now to get the flexible financing you need as your business grows and speak with a knowledgeable Business Financing Advisor who can accurately answer your questions, explain your options, and work with you from start to finish. A business line of credit gives you access to cash whenever you need it and is an extremely flexible financing option. This type of loan allows you to draw cash from your credit limit as you need it, and only pay interest on what you use. With revolving lines of credit, more cash will become available as you pay it down. Unlike selling equity, getting a small business loan allows you to maintain business ownership, profits and full control. Business lines of credit are the perfect financing tool when your business is in growth mode and you need access to funds. You can also use it to bridge cash flow gaps during seasonal slumps, or as a rainy day fund. There are no restrictions on how you can use it—you can use a business line of credit to cover any costs or opportunities you face.

Business lines of credit function like credit cards, but with a different structure that’s better suited for small business owners. They’re also better for tax purposes—you can write off interest on a credit line, but not for a personal credit card. After qualifying for a business line of credit, you’ll receive a total credit limit. You can draw as much or as little as you need from that total limit in any number of installments, and you’re under no obligation to use the full amount. You can continue to access additional cash as you pay it down. Instead of paying interest on the full credit limit, you’ll only pay interest on what you take. Depending on your lender, you may have a non utilization fee, and may have to pay for the line if you don’t use it. Before signing an agreement, be sure to ask for clear information about any fees. Avoid any agreements without clear, transparent information.

Contact

Hours of Operation

  • Sunday Closed
  • Monday 8:00am - 8:00pm
  • Tuesday 8:00am - 8:00pm
  • Wednesday 8:00am - 8:00pm
  • Thursday 8:00am - 8:00pm
  • Friday 8:00am - 8:00pm
  • Saturday 9:00am - 12:00pm

Other Services by National Business Capital

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Business Financing Requirements
  • Business Certificate
  • Business License
  • Business Bank Account
Credit Score Range 500 - 850
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Minimum Months in Business 3
Minimum Revenue $120,000
Supported Income Types
  • Direct Deposit (W2, SSA, SSDI)
  • Cash
  • Payroll Check or Prepaid Card
  • 1099 Misc. Income
Verification Documents Required
  • Proof of Identity
  • Business Formation Documents
  • Government Issued Photo ID
  • Recent Bank Statements
  • Social Security Number
  • Driver License (or other photo ID)
  • Employer Identification Number
Collateral Requirement
  • Secured
  • Unsecured
Intended Use of Funds
  • Equipment Purchase
  • Inventory
  • Payroll
  • Hiring
  • Technology Investment
  • Marketing
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Payment Frequency Monthly
Payment Options Automatic Payments
Loan Amount $5,000 - $3,000,000
Loan Term 12 - 60 months

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