How to Apply
Applying for a first time business loan is easy with our simple online application. To apply for a business loan with National Funding, simply fill out our short online application. One of our dedicated Loan Specialists will contact you to learn more about your business. We’ll create a custom financing solution tailored to your business needs.
What Customers Are Saying
John Meier, Owner
Bob’s Home Heating & Cooling
It was time for "Bob" to retire, which meant opportunity for John. As he looked to buy the business, he needed to make sure capital was in place to support the extremely seasonal Minnesota-based business. With a hands-on, consultative approach to small business loans, National Funding helped secure the right amount of funding and made the process "painless."
Why National Funding?
No matter your industry or business model, we have the experience to help you find a first time business loan. We started out as a small business ourselves, so we know what it’s like to try to get funding. Let our Loan Specialists help you customize a financing solution that’s ideal for your business.
First Time Business Owner Resources
Business finances can be confusing. We’re here to help make them a little easier.
Check out our articles and blog posts on business lending, taxes and how you can prepare your business for the future.
Small business owners across the country are optimistic about business growth. Get ready for the future of your business with a five-year plan. By planning for growth now, you’ll be ready to take advantage of opportunities when they arrive.
Your business loan payment probably has a big role in your daily cash flow. Luckily, you may be able to deduct part of your business loan payment at tax time. Read this post to learn more about deducting business loan interest.
FAQ: First Time Small Business Loan Options
As a business owner looking for your first loan, you probably have questions. At National Funding, we know navigating your business’ financing needs can be confusing. We’ve put together some of the most common questions related to business loans for first time business owners.
At National Funding, we’re proud to offer business loans for first time business owners. We know you probably have questions about the financing process, and our Loan Specialists are here to help. You’ll need to have been in business for at least a year and have $150,000 or more in annual sales. We’ll work fast to get your financing decision as soon as possible.
Your business probably doesn’t have a lot of business credit built up if you’re looking for your first business loan. In this case, you usually use your personal credit for loan approval. However, if you have poor credit, you might be wondering if it’s possible to find a loan. Luckily, there are options for bad credit business loans from National Funding.
Small and growing business owners face a unique challenge: You need funding to grow your business, but it can be difficult to find a loan for a first-time business owner. More often than not, the best place to get a first time small business loan is through an alternative lender who understands the unique position of a growing business.
At National Funding, we offer business funding solutions for businesses of all shapes and sizes. Our simple online application takes minutes to complete and won’t affect your credit score.
Ratings & Reviews
With 20 years of experience, we’re proud of the reputation we’ve built.
True to our mission, we encourage you to read the following policies and learn how they affect you as a client.
(1) 24 hours:
Fast approvals and 24 hour funding subject to receipt of required documentation, underwriting guidelines, and processing time by your bank. Funds are deposited into your business checking account as soon as the next business day after approval and acceptance of terms.
(2) Early payoff discounts:
National Funding offers special opportunities for its customers to terminate contracts early and receive a discount in the process. Equipment Finance customers who pay off the total remaining balance early, at any point during the contract, will automatically receive a 6% discount off the total remaining balance. Working Capital customers who pay off the total remaining balance in full within the first 100 days of the contract will automatically receive a 7% discount off the total remaining balance. We do not currently offer a discount on our lease contracts. Customers must pay off the balance in full, be current, and in good standing to take advantage of the discount within the time parameters.
(3) Automatic payments:
Loan payments are withdrawn via Automatic Clearing House (ACH) Monday through Friday excluding bank holidays.
(4) Wide variety of payment options:
- Equipment Financing: payments are remitted monthly with terms of 2-5 years
- Working Capital Loan: payments can be remitted daily or weekly with terms of 4 months up to 24 months
(5) Potential Tax Savings:
The Section 179 Tax Deduction allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. Meaning, if you buy (or lease) a piece of qualifying equipment, you can deduct 100% of the purchase price from your gross income. You can secure the equipment, tools, and technology you need, while also taking advantage of significant tax deductions - up to $1,000,000. Consult your tax professional for more details.
(6) Guaranteed lowest payment:
Pursuant to the terms and conditions specified in these Rules and Restrictions of the Guaranteed Lowest Payment, National Funding guarantees to provide the lowest payment on equipment leased through National Funding, for lease terms from 24 to 60 months, or to pay $1000 towards qualifying executed leases. Lease payment comparisons must be based on a lease in excess of $10,000, for approved equipment, and with the same terms and conditions as those offered by National Funding within seven days that the National Funding terms are issued. To be eligible, customers must provide a competitive lease quote without contingencies, and vendor invoice, and in the name of the lessee within seven calendar days of the date National Funding issues its terms. Guarantee only valid on competitive equipment leases. Equipment finance agreements do not qualify.
In the event that the monthly lease payment amount from the competing lease company or bank is lower than the monthly payment that is being offered by National Funding for the same equipment and pursuant to the same terms, National Funding will verify the validity and accuracy of the competing leasing company’s or bank’s payment options, terms and the vendor quote. National Funding has the option, in its sole discretion, to either beat the competing leasing company’s or bank’s monthly payment rate, or pay $1000 to the lessee. The lessee must provide National Funding with the competing company’s or bank’s signed lease agreement with payment terms/options, and take delivery of the equipment. Payments will be made within 30 days, and lessee is responsible for any taxes.
The Guaranteed Lowest Payment is available to both new and established customers of National Funding. This offer is valid for new lease applications only. The Guaranteed Lowest Payment is not retroactive — a previously funded equipment lease with National Funding is not eligible for the Guaranteed Lowest Payment. Only non-contingent offers of lease terms and payment are eligible. Offers made to lessee that include subsidization by manufacturers and/or vendors will not be considered in comparing competing offers.
The Guaranteed Lowest Payment may be discontinued at any time without notice.
To participate in the Guaranteed Lowest Payment program, if you have a lease agreement and vendor quote which you believe will qualify for the program, contact your National Funding Lease Manager.
(7) Terms and Conditions apply:
This is not a guaranteed offer of credit. Loans subject to lender approval. Approval amount is based on eligibility determined by information obtained from Dun & Bradstreet. Actual eligibility may vary. Restrictions may apply. Application is subject to approval by the lender and is based on factors such as business type, time in business, annual sales, average bank balances, personal credit and other variables deemed relevant by the lender.