National Funding (Equipment financing) review 2027

What problem does National Funding solve for equipment buyers?

National Funding finances the machine and secures the loan against it, so credit requirements are softer than an unsecured loan of the same size. That structure is the whole point: the equipment itself is the collateral, so a 600 score can still finance a $100,000 machine. On some deals the lender goes up to $150,000 for equipment with no separate down payment, and funds arrive in a day or two. For a trade or a manufacturer whose bank has already said no, that combination is the difference between taking the job and turning it down.

How did it score in our testing?

We scored National Funding across five criteria, and the total came to 7.8 out of 10.

• True cost of borrowing — 20 out of 30. We converted every offer to an annual rate on the same $100,000 over 24 months and counted origination, draw and prepayment charges. This is where the product gave up the most ground.
• Who can qualify — 22 out of 25. We looked at minimum credit score, time in business and revenue, and whether a personal guarantee or lien is required. The collateral structure is what carries this score.
• Speed & process — 13 out of 15. We measured application length, documents required, time to decision and time to funds in our tests of the public process.
• Terms & flexibility — 12 out of 15. Amounts, term lengths, repayment frequency, and whether paying early saves you money.
• Transparency — 11 out of 15. Whether rates and fees are published before an application, and how clearly the total repayment is shown.

What does National Funding do better than most lenders?

The equipment itself is the collateral, so a 600 score can still finance a $100,000 machine. That is the standout result from our tests, and it is not a small one — most lenders in this category want a stronger score before they will look at six figures. National Funding also goes up to $150,000 for equipment with no separate down payment on some deals, which keeps cash in the business instead of tying it up at signing. Working capital loans carry early payoff discounts, so clearing the balance ahead of schedule saves money. And funds land in a day or two, which matters when a machine is needed on site rather than next month.

What are the terms, amounts and requirements?

The published terms are straightforward. Typical APR range is roughly 20%–50% APR equivalent. Amounts go up to $500,000. The minimum credit score is 600, minimum annual revenue is $250,000, and minimum time in business is 6 months. Time to funds is 24–48 hours. National Funding is not an SBA lender. It publishes factor rates only, and the equipment secures the loan rather than a personal guarantee.

How does it compare with Bluevine, Accion Opportunity Fund and Funding Circle?

Bluevine scores 8.8 and prices from 7.8% simple interest, with a typical APR range of about 20%–50% depending on draw terms. It asks for a 625 score, $120,000 in annual revenue and 12 months in business, funds the same day to 24 hours, publishes rates and requires a personal guarantee. National Funding asks for a lower score and a shorter trading history, but a higher revenue floor, and it does not require a personal guarantee on equipment deals.

Accion Opportunity Fund scores 8.7 with an APR range of 8.49%–24.99%, amounts of $5,000–$250,000, a 600 score, $50,000 in revenue and 12 months in business. It publishes its full APR range and funds in 2–4 weeks. National Funding matches the 600 score and beats it on speed, but Accion's published APRs sit well below National Funding's equivalent range.

Funding Circle scores 8.5, prices from 7.49% annual interest with a typical APR range of about 15%–30% with fees, lends $25,000–$500,000, and wants a 660 score, $50,000 in revenue and 2 years in business. It funds in 3–5 business days and requires a personal guarantee and a lien. National Funding is faster and open to lower scores, but Funding Circle is cheaper and publishes its rates.

Where does National Funding fall short?

Rate transparency is where it lost. It quotes factor rates, not APRs, so you have to convert before comparing anything. The $250,000 minimum annual revenue rules out plenty of small shops that would otherwise qualify on credit. And working capital rates are high, which makes those products a poor fit for anyone who can wait for a cheaper lender.

What does National Funding cost?

Factor rates start from 1.10, which the company presents instead of an annual percentage rate. The APR equivalent range is roughly 20%–50%. Because the headline number is a factor rate, the only way to compare it against a lender quoting an APR is to convert it first — do that before signing anything.

Who should buy from National Funding?

Trades and manufacturers buying equipment. If you need a machine, the machine can secure the loan, and your credit or trading history would fail a bank's unsecured test, this is the structure built for you. If you need working capital and can qualify elsewhere at a published APR, the numbers here are harder to justify.