Debunking 3 Small Business Loan Myths

At National Business Capital & Services, we believe that informed customers are great customers. After all, obtaining a business loan is an important commitment, and it should only be done after conducting proper research and analysis.

As you may have experienced — or hopefully will soon in the very near future — one of the ways that we educate our customers is by offering free, no obligation consultations by phone, email, or web chat (connect with us now on the bottom-left of your screen!).

In addition, we also strive to provide helpful, jargon-free educational content here on our website. We continue this commitment today by debunking 4 small business loan myths that we hope you’ll find illuminating — and inspiring!

debunking 3 small business loan myths

3 Small Business Loan Myths: Debunked

Myth #1: If a bank has rejected your business loan application, then you’ll likely get turned down from National Business Capital, too.

FACT: At National, our approach to approving business loans is categorically different than banks.

We are far less interested in what a business owner has done or not done in the past, than we are in what they’re doing now and have planned for the future. That’s why we approve over 90 percent of loan applications, compared to just 15-20 percent at big banks.

We also have more varied lending options than banks because we can offer secured and unsecured loans, lines of credit and more. If you have bad credit, foreclosures or no collateral, we can work with you to help you obtain financing!

Myth #2: There are strict restrictions on what you can and can’t do with your business loan.

FACT: While this myth can hold true with banks, credit unions, venture capitalists and many other funding sources, it isn’t true for all financing companies.

At National we do not impose any restrictions on how you choose to allocate your loan. We care about your success, and wisely step out of the way so that you can make critical decisions. After all, who knows more about what’s best and right for your business than you?

Myth #3: Applying for a SBA loans is time-consuming and an administrative burden.

FACT: This is indeed the case with bank loans, and especially SBA loans. These loans can often take more than six months to get approved due to their excessive paperwork and restrictive qualifications.

However, at National, we know that time is of the essence for our customers. Whether you have an emergency that needs to be fixed now or an opportunity to take advantage of, you simply can’t wait for six months or more.

That’s why our SBA application is streamlined, simplified, and expedited. That means less wait times, less paperwork, and less time to SBA funding. In fact, through our expedited process, we can provide SBA funds in as little as 45 days – that’s up to 3X faster than banks.

As for small business loans, we can get you approved and equipped with funds in as little as 24 hours.

Start online by filling out a 60-second application. To keep the process as efficient as possible, we render approval decisions within 24 hours.

Get the Facts – Speak to A Small Business Loan Advisor Today

To learn more about how we can help your business succeed and thrive — and dispel any other myths that may be preventing you from quickly, easily and affordably getting the funding you need.

Contact us today at 877-482-3008 for a free consultation, or fill out our 1-minute application online to get started right away. We’re here to help 24/7/365!

For more information on how to get funding business funding when banks say no, download our FREE eBook today:

National Business Capital & Services is the #1 FinTech marketplace offering small business loans and services. Harnessing the power of smart technology and even smarter people, we’ve streamlined the approval process to secure over $1 billion in financing for small business owners to date.

Our expert Business Financing Advisors work within our 75+ Lender Marketplace in real time to give you easy access to the best low-interest SBA loans, short and long-term loans and business lines of credit, as well as a full suite of revenue-driving business services.

We strengthen local communities one small business loan at a time. For every deal we fund, we donate 10 meals to Feeding America!


About the Author, Megan Capobianco

Megan is passionate about helping business owners along their journey - providing them with relevant content they can use in their day-to-day operations.

Disclaimer: The information and insights in this article are provided for informational purposes only, and do not constitute financial, legal, tax, business or personal advise from National Business Capital & Services and the author. Do no rely on this information as advice and please consult with your financial advisor, accountant and/or attorney before making any decisions. If you rely solely in this information it is at your own risk. The information is true and accurate to the best of our knowledge, but there maybe errors, omissions, or mistakes.