National Funding Review 2026

National Funding publishes no rate card. Borrower offers and lender reviews put the factor rate between 1.10 and 1.35. Its own working capital page uses 1.25 as the worked example. Short term loans run 6 to 18 months, per the short term FAQ.

A factor rate is not an APR. Multiply the loan by the rate. That is what you repay, however fast you pay. A 1.225 rate on $50,000 means $61,250 back. Over 12 months that is roughly a 22% to 45% APR before fees. On a 6 month term it can pass 50%.

Equipment financing and leasing goes up to $150,000. National Funding says the term and rate vary by equipment and by file, and it publishes neither. The equipment itself is the collateral.

There is no prepayment penalty. Pay off early and you may get a discount. The amount and the window are set in your agreement before you accept, per the lender's own FAQ. For scale, SBA caps 7(a) variable rates between 9.75% and 13.25% today, tightest on the largest loans, with prime at 6.75% (SBA terms, Fed H.15). Our SBA 504 vs 7(a) guide covers that route.

The floor is 6 months in business and $120,000 in annual sales. That is the lender's own FAQ figure, down from the $250,000 it used to quote. Most customers have a FICO of 600 or higher. Some reviewers cite 660. The lender says it reads the whole file, not the score.

Every product carries a personal guarantee. If the business cannot pay, your own assets are on the hook. Working capital loans need no physical collateral. The first check is a soft pull, so applying does not move your score. If National Funding cannot fund you it may pass you to a partner, and that partner may run a hard inquiry.

Equipment deals need a vendor quote. See our equipment financing guide for how to size one.

The online form takes about 5 minutes. It asks for your estimated annual sales up front. A funding specialist then calls. You send 6 months of bank statements and answer a few questions.

The offer comes with a factor rate, a schedule and any fee. Accept it and the wire can land in 24 hours. There is no borrower portal. To check a balance or get a payoff figure, you call. One ConsumerAffairs reviewer borrowed $35,000 and was quoted $44,000 to pay off one week later. That is the factor rate at work, so read the schedule before you sign.

Origination fee. Borrowers report 1% to 3%, taken from the proceeds. On a $50,000 loan at 2% that is $1,000 you never see but still pay a factor rate on. National Funding does not publish it.

Factor rate charge. Built into the repayment. A 1.225 rate on $50,000 is $11,250 in financing cost.

Year 1 estimate. About $12,250 for a $50,000, 12 month loan at 1.225 with a 2% fee.

Early payoff. No penalty. A discount may apply, on terms set in your agreement.

Renewal. Nothing. Once paid, the loan is done.

There is no rate card on the site. You learn your price on the call. That is the single biggest mark against National Funding, and our working capital loan guide shows how to compare quotes once you have one.

Yes, and here is the evidence. It has lent from San Diego since 1999. It holds California Financing Law license 603A169, printed on every page of its site. Its site reports more than $7 billion funded to over 100,000 businesses. The BBB has accredited it since 2013 and rates it A+. We hold a partner account with National Funding and went through onboarding ourselves. That relationship never changes our numbers, and this page shows the costs plainly.

The ratings split confuses people. Read it the right way. Trustpilot shows 4.6 from 2,183 reviews, mostly praise for named specialists and fast wires. Google shows 4.5 from 582. Yelp shows 1.9 from 48. The angry reviews are rarely from borrowers. They come from people buried in prequalified mail. Those offers are real. They are also expensive money. That is the honest reason to pause, not legitimacy.

We found no CFPB record for National Funding. The CFPB database has always leaned toward large depository banks, and the bureau itself has been through staff cuts and funding fights since early 2026. Treat that as a gap. It is not a clean sheet.

The BBB profile is the better record. It shows an A+, accreditation since 2013, and 28 complaints in the last three years, 13 of them closed in the last 12 months. Most are about unsolicited mail and calls, and about getting removed from the list. Loan servicing disputes are the minority. Trustpilot marks the company as replying to 100% of negative reviews.

If your score is above 625 and you have a year in business, OnDeck prices as an APR and publishes it. It also gives prepayment and loyalty discounts to repeat borrowers. Our review carries the current rate.

If your score sits nearer 500, Credibly uses the same factor rate model as National Funding with a lower credit floor. Compare the two quotes side by side.

Can you wait 30 to 90 days? If your score is above 680, an SBA 7(a) through a community bank or CDFI costs a fraction of this. SBA caps 7(a) variable rates between 9.75% and 13.25% today, tightest on the largest loans, with prime at 6.75%. Our best small business loans page ranks every lender we cover.