National Funding review: markets itself as direct, licensed as both

What it is. A San Diego funder, and the sharpest gap between marketing and legal text in this group.

Its product page is headlined "Business Loans from a Direct Lender" and says "direct lenders cut out the middleman or lending broker" and "no middleman and no waiting on a third party". Its terms and conditions say the company and its affiliates "offer small and midsized businesses access to financing, either directly or by referring SMBs to other financing providers", operating in California under a "lender and broker license". The footer adds: "If you apply with us and we are unable to offer financing to you, we may try to match you with one of our partners to obtain financing."

Both statements are National Funding's own. It does fund from its balance sheet, and it also refers. Read the marketing headline with the terms beside it.

What it offers

Working capital, short-term and term loans, inventory and receivables financing, bridge loans, bad-credit loans, and equipment financing and leasing. No SBA, no line of credit, no factoring.

It never uses the phrase "merchant cash advance", but its footer limits financing to "sales-based financing" in sixteen states including New York, New Jersey and Pennsylvania, which is the statutory term for exactly that product.

Requirements

"Most businesses qualify with at least six months in operation and $120,000 or more in annual sales", and "most of our customers have a personal FICO of 600 or higher". Equipment financing needs six months, a 600 score and a vendor quote.

Amounts and speed

Up to $500,000, from a $6,000 floor, with equipment financing to $150,000. "Same day approvals. Funds in your account as fast as 24 hours." Working capital repays daily or weekly over 4 to 24 months; equipment runs monthly over 2 to 5 years.

What it costs

Nothing published. No APR, no factor rate, no fee schedule. The site routes the question to a person: "Your U.S.-based Funding Specialist walks you through the full terms, amount, rate, and payment schedule." There is no prepayment penalty and it offers an early-payoff discount, but the size of that discount is not stated either.

Reputation

BBB: A+, accredited since 2013, with 28 complaints closed in three years. Trustpilot: 4.6 across roughly 2,200 reviews. We found no regulatory action. Checked 21 September 2026.

Ownership, which its own About page does not mention: since October 2024 National Funding has been a brand of the holding company FairSquare, founded by National Funding's own chief executive, alongside QuickBridge, SmallBusinessLoans.com and Finova Capital. Its About page still describes it as "a notable privately owned business" with no reference to FairSquare.

Who it suits

Equipment buyers, where 2 to 5 year monthly terms are far gentler than daily debits.
Six-month-old businesses clearing $120,000 a year.
Owners who prefer talking to a person over reading a website.

Who it does not

Anyone who wants pricing up front. There is none.
Anyone needing SBA, a line of credit or factoring. It offers none of them.

All quotes and figures are from nationalfunding.com including its terms and conditions, the FairSquare launch announcement of 22 October 2024, BBB and Trustpilot, checked 21 September 2026.

Questions owners ask

Is National Funding a direct lender?

Partly. It funds from its own balance sheet, and its terms also disclose that it may refer applicants to other financing providers under a lender and broker licence.

Does National Funding offer merchant cash advances?

It never uses the term, but its footer limits it to "sales-based financing" in sixteen states, which is the statutory name for that product.

What does it charge?

It publishes no rates or fees. Terms are explained by a representative after you apply.

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General information, not financial or legal advice. Terms vary by lender and business.