We may earn a fee if you click on the links below. Compensation does not determine ranking. Not all brands are included. Learn more.

Published: Mar 13, 2023 11 min read
Young coffee shop owner working on accounting problems
Getty Images

Even if you are experiencing a modicum of success with your small business, you might still need funding for additional expenses.

National Funding is one of many alternative lending platforms that offers small business loans via an online application with a relatively fast approval process. Funds can be used for any business purpose, such as purchasing more inventory, payroll costs or marketing campaigns.

If you’re in the market for a loan for your small business, read on to decide if National Funding is for you.

Ads by Money. We may be compensated if you click this ad.AdAds by Money disclaimer
Unlock your business potential with National Funding
Apply for a Small Business Loan today by selecting your state.
HawaiiAlaskaFloridaSouth CarolinaGeorgiaAlabamaNorth CarolinaTennesseeRIRhode IslandCTConnecticutMAMassachusettsMaineNHNew HampshireVTVermontNew YorkNJNew JerseyDEDelawareMDMarylandWest VirginiaOhioMichiganArizonaNevadaUtahColoradoNew MexicoSouth DakotaIowaIndianaIllinoisMinnesotaWisconsinMissouriLouisianaVirginiaDCWashington DCIdahoCaliforniaNorth DakotaWashingtonOregonMontanaWyomingNebraskaKansasOklahomaPennsylvaniaKentuckyMississippiArkansasTexas
Get Started

Best for Those Who Make $250,000 in Annual Sales

To qualify for a National Funding small business loan, your business must have been in operation for at least six months, and your annual sales should be $250,000 or higher. You could receive funding in as little as 24 hours if you meet the requirements.

National Funding Small Business Loans Pros and Cons

  • Easy online application process
  • Can get approval and funding in only a few business days
  • Suitable for lower credit scores
  • Higher fees than other lenders
  • Short-term business loans require daily or weekly payments
  • Only for business owners who make $250,000 or more in sales

Pros explained

There are several positive features of National Funding’s small business loans application process and funding. It’s also a lending platform that works with business owners who have lower credit scores.

Easy online application process

Some lending institutions have lengthy and complicated application procedures to qualify for a loan. On the other hand, National Funding has a rather straightforward process: All you have to do is fill out this form to get started.

The National Funding digital loan page asks for pertinent information, such as your name, email address and phone number. It will also require you to disclose how much you make annually in sales. (To qualify, your business must earn at least $250,000 in annual sales.)

When you’ve submitted your application, a loan specialist will contact you to discuss which of National Funding’s loan options best suits your current circumstances and which documents you’ll need to provide to continue the application process.

Approval and funding in only a few business days

Getting a National Funding loan approval can happen in as little as 24 hours post-application. Once you get approval, the amount you’re borrowing will be deposited to your bank within a day or two. This is a relatively speedy process compared to a bank loan, which may take weeks (or longer) for approval and funding.

Suitable for lower credit scores

Another advantage is that you may apply with a credit score as low as 600. Other loan companies that offer similar loans may decline applications from business owners with below-average credit scores.

Cons explained

There are some downsides to borrowing through National Funding, such as higher fees than other lenders.

Higher fees than other lenders

As quick and easy as the application and approval process might be for National Funding small business loans, the downside is that these come with hefty fees. You can expect National Funding to charge a borrowing fee between 15% and 30% of your total amount. Apart from National Funding interest rates, note that a 1% origination fee is tacked onto your loan.

Short-term loans require weekly or daily payments

If you look closely at National Funding small business loans, you’ll notice that these are actually short-term loans. As such, National Funding loan terms will require weekly or even daily payments toward the loan. If your business has cash flow problems, this may not be ideal for you since it can either drain your business of its daily earnings or make it difficult to pay on time.

Only for business owners who make $250,000 or more in sales

Another caveat to consider before applying for a National Funding business loan is how much you earn yearly. You must prove to the company that you make upwards of $250,000 annually with documentation such as receipts and financial records. You won't qualify for this loan if you don’t make that much every year.

Ads by Money. We may be compensated if you click this ad.AdAds by Money disclaimer
Apply for a Small Business Loan with National Funding

National Funding Loans Policy Plans/Offerings

There are a few National Funding loan types available to businesses that need to borrow money, including short-term loans, equipment financing loans and working capital loans. If you have $250,000 in gross annual sales, you might benefit from a short-term loan, especially if you can pay it back early.

National Funding offers a 6% discount if you pay it off early at any point and a 7% discount if you pay it off in the first 100 days of the loan. For an equipment loan, you can borrow up to $150,000 with no down payment, provided you can prove you make $250,000 a year.

National Funding Working Capital Loan

The working capital loan is the most versatile option since it allows you to use the funds as you see fit. Need to buy new equipment or pay for the additional expenses your business expansion will incur? Then this is the loan for you. The proceeds from this loan can go toward wages, rent, purchasing inventory or any other need your business may have.

Here are the steps to apply for this loan:

  • Fill out the National Funding small business loans application form
  • Wait for a representative to contact you to discuss which financing options are best suited for your situation
  • Wait for approval and receive funds

National Funding Small Business Loans Pricing

Here are some of the things you need to know about National Funding small business loans:

  • Loan amounts can range from $10,000 to $400,000.
  • Applicants must show proof of operations of at least six months.
  • Payment terms can range from four months to two years.
  • Repayment schedule for these loans can be daily or weekly, depending on what your loan specialist sees fit for your case.
  • Fees for these loans vary and can be as low as 15% or as high as 30%.

The company does not prequalify small business loans and requires that all applicants go through the process of signing up, talking to a representative, presenting documentation and waiting for final approval. Applicants must also have a minimum FICO credit score of 600.

Ads by Money. We may be compensated if you click this ad.AdAds by Money disclaimer
Fuel your business growth and success with a Small Business loan
Take your business to the next leve with National Funding. Get started today by clicking below.
Get Started

National Funding Small Business Loans Financial Stability

National Funding is considered financially stable due to its many investors, including Wells Fargo Capital Finance and Guggenheim Securities. The company has around $230 million in finances and has consistently been on the Inc. 500 | 5000 lists.

National Funding Small Business Loans Accessibility

To apply for a small business loan, click the Apply Now button on the website’s home page. If you’re looking for a specific loan type, the drop-down menu on the navigation bar will provide you with direct access to the loan you’re looking for.

To speak with a loan specialist, there’s a hotline you can call 24 hours a day, seven days a week. There’s a separate number to call for customer service representatives, available between 7:30 am and 4:30 pm PT from Monday to Friday. The company also has pages on various social media outlets such as Facebook, LinkedIn and Twitter.


National Funding small business loans are available to eligible small business owners in all 50 states.

Contact information

  • Loan Specialist hotline: 888.733.2383
  • Customer Service: 800.294.1702
  • Email: apply@nationalfunding.com
  • Snail mail: 9530 Towne Centre Drive, San Diego, CA 92121

User experience

As a customer of National Funding, you can get information on the loan you need by either talking to a specialist right away or clicking on the loan you’re interested in and reading all about it.

The biggest issue some customers have when it comes to user experience is there’s no portal for them to go to when they want to view how many payments they’ve made and how much they still have to pay off. They also don’t have an app that customers can use for such a concern, although the site does translate well on mobile devices.

National Funding Small Business Loans Customer Satisfaction

Customers of National Funding Inc. post favorable reviews online. However, a few complaints range from high interest rates to a lack of transparency and no online portal to view loan progress.

The company is also BBB accredited, with an A+ rating. National Funding reviews on BBB note many issues with repeated funding offers to small business owners who state they did not ask for any communication from National Funding.

National Funding Small Business Loans FAQ

Does National Funding check personal credit?

National Funding checks your personal credit score, not your business credit rating, after you apply. Your application can proceed if you have a FICO credit score of 600 and above.

How do you get approved for National Funding?

There are a few prerequisites for loan approval by National Funding. This includes annual sales earnings of $250,000 and above, a minimum 600 FICO credit rating and your business must be in operation for at least six months. Supporting documentation must be presented before you will be approved.

Does National Funding pull a hard inquiry on your credit report?

Once you fill out an application for any of the National Funding small business loans, the company will do a soft credit pull rather than a hard credit inquiry.

How We Evaluated National Funding Small Business Loans Insurance

We reviewed several factors to evaluate National Funding small business loans. Aside from National Funding loan reviews from actual customers on various platforms, we also considered the following:

  • Loan offerings
  • Terms of payment
  • Ease of application
  • Speed of loan approval and funds releasing
  • Financial stability
  • Customer service
  • Customer reviews
  • Third-party reviews

Summary of Money's National Funding Small Business Loans Review

The best small business loans are those that work the particular economic situation of your business. If you’re looking for fast funding, National Funding’s small business loan offerings may be a good alternative to a traditional bank loan, which can sometimes take weeks to process. Like the lenders on our list of best bad credit loans, National Funding could be especially helpful for your small business if your credit score is as low as 600.

While the company has a quick and easy application process, its borrowing policies present some caveats. National Funding’s sales income requirement is $250,000 per year, and you must pay off your loan in daily or weekly increments, depending on what your loan specialist determines. Also, the high interest rates of National Funding’s small business loans are costly if you’re not able to pay off the debt quickly.