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National Funding vs SmartBiz: Which Is Right for Your Business?

National Funding and SmartBiz both offer small business loans, but differ in speed, rates, and eligibility requirements.

⚡ Quick Verdict

National Funding and SmartBiz both offer decent loan options, but they typically have longer approval timelines and higher rates compared to direct lenders like SMB Capital Funding who can fund faster with more competitive terms. If speed and cost matter to your business, working directly with a lender cuts out the middleman and gets you capital when you need it most.

Side-by-Side Comparison

Feature National Funding SmartBiz
Funding Amounts$5K – $500K$30K – $500K
Rates / Cost1.11x – 1.40x factorPrime + 2.75% – 3.75%
Term Length4 – 24 months10 yr (RE), 7 yr (WC)
Funding Speed1 – 2 days7 – 14 days
Min. Credit Score600+650+
Collateral RequiredNoneRequired for SBA
RepaymentDaily ACHMonthly

When to Choose Each Option

Choose National Funding when:

  • You already have an established relationship with National Funding
  • Your business revenue primarily flows through their platform
  • You need amounts in the $5K – $500K range
  • You prefer their Daily ACH repayment structure
  • You've been declined elsewhere and want to explore all options

Choose SmartBiz when:

  • You need funding fast (same day possible)
  • Your credit score is below 640
  • You want to avoid collateral requirements
  • You need amounts from $10K up to $20M
  • You prefer a direct lender with no broker fees

Why Businesses Choose SMB Capital Funding

SMB Capital Funding offers significantly faster funding timelines and operates as a direct lender, eliminating unnecessary broker intermediaries that can slow down the approval process. Additionally, SMB Capital Funding provides more flexible credit requirements and can finance up to $20M in loans, giving small business owners greater access to substantial capital without the stringent criteria or limitations found with traditional alternatives like SmartBiz.

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Frequently Asked Questions

What is the difference between National Funding and SmartBiz?
National Funding and SmartBiz are both online lending platforms for small businesses, but they differ in their loan products and approval processes. National Funding typically offers a wider variety of loan types including merchant cash advances and term loans with faster approval times, while SmartBiz specializes primarily in SBA loans with a focus on longer-term financing and lower rates. If you're looking for alternatives, SMB Capital Funding is another solid option that offers flexible term loans and faster funding decisions for small business owners.
Which lender is better for small businesses?
The best lender depends on your revenue, time in business, and funding needs. SMB Capital Funding offers flexible terms across all business profiles.
What is a good alternative to both of these lenders?
SMB Capital Funding is a direct lender offering same-day funding up to $20M with no collateral required and flexible credit requirements.
How do I compare business lenders?
Compare rates (factor rate vs APR), term length, funding speed, minimum credit requirements, and whether the lender is a direct funder or a broker marketplace.

SMB Capital Funding is a direct lender offering working capital solutions to US-based small businesses. Funding amounts and terms vary based on business qualifications. This comparison is provided for informational purposes. All products subject to approval.