National Funding Business Loans Review

National funding is a business financing offering by National Funding, based in San Diego, CA. Founded in 1999, National Funding offers access to small business loans in 50 states (and Washington, DC).

What are National funding’s rates?

National funding offers a variable APR business financing product that ranges from 5.9% APR up to 36% APR.

Does National funding charge an origination fee?

Yes, National funding charges a loan origination fee of 1% to 2% of the business loan amount. National funding deducts the fee directly from your business loan amount before disbursing loan proceeds, so make sure you take this fee into account when deciding how much you need to borrow.

What limitations does National funding set on the purpose of the business loan?

National funding considers business loan applications for business purposes, such as:

• Business Debt Refinance
• Emergency Repairs
• Equipment Purchase
• Hiring
• Inventory
• Lease Improvement
• Marketing
• New Location
• Payroll
• Product or Service Expansion
• Technology Investment
• Working capital

What types of small business loans does National funding offer?

Not all small business loans are made equal. The type of business loan you choose will determine the range of interest rates and terms you receive. National funding provides access to the following business loan types:

• Unsecured Term Business Loans
• Bridge Loans

Does National funding charge a late fee?

Yes, National funding charges borrowers with a late payment fee of up to $10.

Does National funding charge prepayment fees?

No, National funding does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the business loan off early.

How much can you borrow from National funding?

Business loan amounts start at $10,000 and go up to $500,000.

What is the maximum business loan term you can get with National funding?

National funding offers small business loans with a maximum term of 60 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What do you need to qualify for National Funding Business Loans?

National Funding Business Loans requires companies to be in business for at least 12 months. Businesses must have a minimum annual revenue of $150,000 to be considered.

Applicants with a credit score of at least 575 and up to 850 may be eligible for National Funding Business Loans.

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 Funding Business Loans. Their rates fall within the limits of The Military Lending Act.

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

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

• Proof of income
• Driver's license

What is the estimated funding time for a business loan via National funding?

National funding can approve (or deny) a business loan application within 4 hours and fund small business loans within 1 business day of approval.