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Noble Funding Review

Donna Fuscaldo
Donna Fuscaldo
 

Noble Funding is an alternative lender that makes borrowing money painless. This lender has provided more than $500 million in small business loans, it has an A+ rating from the Better Business Bureau (BBB) and has a good reputation in the industry, making it our best pick for customer service.

Noble Funding

Noble Funding

The Verdict

Noble Funding puts customer service first. You can borrow up to $500,000, receive funding quickly and access ongoing support. Noble has been accredited by the Better Business Bureau for years and has more than 100 positive reviews on Trustpilot.

Noble Funding

Collateral 9.0
Online application 9.0
Quick funding 6.5
Strict credit requirements 9.0
Variety of loan types 9.0
Editor's score 8.5

Pricing: Rates and Terms

Noble Funding offers a variety of financing options, including short-term bridge loans, long-term business loans and asset-based loans. We selected Noble Funding as the best lender for customer service because of its willingness to work with borrowers to find the right loan product and its commitment to continuing to serve them once the loan closes.  

Noble Funding doesn't charge upfront fees and only receives compensation if the borrower's loan is funded. That's another customer-friendly feature we like about Noble. Noble Funding will come up with a financial package that suits your business.

Noble Funding offers small business owners flexible features to suit their business and financial needs.

 

Noble Funding offers several business loan types, including the following:

Short-Term Bridge Loans

Noble Funding offers short-term bridge loans that range from $100,000 to more than $2 million. It will notify you of its decision within 24 hours, and if you're approved, it offers fast funding within two to three business days. There are no upfront fees or closing costs with its short-term bridge loans, and Noble Funding doesn't require collateral.

One feature we liked about Noble Funding is that you aren't required to personally guarantee your short-term bridge loan. Not many alternative lenders extend money without some type of guarantee.  Short-term bridge loan terms can run from four months to 18 months, but once half of the loan has been repaid, borrowers can renew the loan. That's another customer-friendly feature that makes Noble Funding a standout.  

The lender will consider all borrowers whether you have a credit score of 500 or 800. Only 51% ownership is required to get a short-term loan with Noble Funding.

Long-Term Loans

Noble Funding offers long-term loans, with amounts that range up to $500,000 and repayment schedules of three, four, and five years. Annual interest rates start at 8.99%, and collateral is not required. The approval process takes two to three days, with funding shortly thereafter. To qualify, you need a credit score of 650 or more, your business needs to show positive net income for one of the last two years, and you can't have any bankruptcies. The business has to be operational for at least 18 months. Noble Funding offers these loans as an option to refinance a merchant cash advance loan.

Unsecured Loans

Businesses that need cash quickly can apply for Noble Funding's unsecured loans. These loans come with same-day approvals, and you can receive funds the following business day. For applications requesting larger loan amounts, Noble Funding may take 48 hours to reach a decision. There are no liens or UCC filings placed on a business with this loan. We like that there are low document requirements and that it is open to borrowers with low credit scores. You need at least a score of 525 to be eligible. Initial loan terms are six to eight months.  

Accounts Receivable Line of Credit

Businesses with 90-day receivables over $500,000 can qualify for an accounts receivable (A/R) credit line. This invoice financing loan product functions like invoice factoring, but it is a line of credit. You borrow a certain amount against your accounts receivable and draw on that amount as needed. The amount you can draw fluctuates depending on your outstanding invoices.

The A/R credit line has a more complex fee and rate structure and is suited for larger businesses. One reason it may be harder to take out this type of loan is that your business needs to have strong, reliable collection and invoicing processes in place. As banks and lenders like Noble Funding evaluate your company, they will assess these processes and your financial documentation to decide if an A/R credit line is right for your business.

Noble Funding arranges several other types of business loans, including equipment financing, inventory loans and purchase order financing. Rates and terms vary widely depending on your business's financial situation, but it's good to know that you have other options if you don't qualify for one loan product at Noble Funding.

Noble Funding offers reasonable terms for its range of business loans.

 

Noble Funding Features

Noble Funding has many standout aspects. We looked at its specifics in each of these areas.

Loan Process

Noble Funding's loan process starts when you contact the company for a quote. A sales representative analyzes your business's financial history and establishes an overall offer. Depending on what type of loan you decide on, Noble Funding will match you with a bank and facilitate the loan process. You'll likely have to provide basic business information and financial documentation that proves you own the business and have the income required for a loan. Once you get an initial quote, you can then formally accept the proposal and continue forward with the loan process.

Qualifications

Noble can work with you to get the right loan for your business's size – whether that's a short-term loan or another type of loan that Noble can facilitate or offer. Noble Funding works with borrowers with credit scores of 500 for its short-term loans, but you need a credit score of 650 for its long-term loans. The one major issue that could prevent you from obtaining a loan through Noble Funding is if a lien has been placed on your assets. 

Collateral

Noble doesn't require collateral and, in some cases, a personal guarantee. We like that a lot about this lender. Nobody takes out a loan with the intention of not repaying it, but life happens. If you default on a loan facilitated by Noble Funding, you don't have to worry about the lender foreclosing on a business asset or going after you personally.

Did you know?Did you know? Noble doesn't require collateral or, in some cases, a personal guarantee.

Time Until Deposit

Once you've been approved, your payment could be issued in as little as two or three days. The overall process differs depending on the loan type, how much you're asking for and your business's financial history.

Special Documentation

For some of its loans, you will need to provide documentation that verifies you are the majority stakeholder and that your business can financially support the loan. In general, it's a good idea to have all of your financial documentation – including copies of your photo ID, business address verification and financial statements – ready before you apply for a loan. If you have questions about the information you'll need to provide, your Noble Funding representative can set you on the right track.

Noble Funding Pros

Noble Funding has a compelling offer. It provides a range of suitable loan options and manageable qualifications for small businesses. What made this lender stand out as our best pick for customer service is its years in business, its good standing with the BBB and positive customer reviews. Noble Funding has more than 100 positive reviews on Trustpilot and no complaints on BBB, which is very  impressive.

The company has been in business since 2005 and has funded scores of businesses across different industries. It makes the application process easy, it can approve your loan and deposit funds in your bank account quickly. The lack of collateral and personal guarantees (in some instances) is another standout feature. It shows Noble Funding has faith in its business borrowers, which we like. You want to work with a lender that is your partner, not just your banker.  

FYIFYI: Noble has good standing with the Better Business Bureau and positive customer reviews.

Noble Funding has more than 100 positive reviews on Trustpilot.

 

Noble Funding Cons

Noble Funding doesn't have many disadvantages, but for business owners looking to qualify for a short-term bridge loan, they need to have at least a 51% ownership share, which could be a lot for some business owners. The credit score requirement for its long-term loans is 650, which is higher than other lenders, including Balboa Capital.

 

Image Credit: Dutko / Getty Images
Noble Funding

Noble Funding

The Verdict

Noble Funding puts customer service first. You can borrow up to $500,000, receive funding quickly and access ongoing support. Noble has been accredited by the Better Business Bureau for years and has more than 100 positive reviews on Trustpilot.

Donna Fuscaldo
Donna Fuscaldo
business.com Staff
Donna Fuscaldo is a senior finance writer at business.com and has more than two decades of experience writing about business borrowing, funding, and investing for publications including the Wall Street Journal, Dow Jones Newswires, Bankrate, Investopedia, Motley Fool, and Foxbusiness.com. Most recently she was a senior contributor at Forbes covering the intersection of money and technology before joining business.com. Donna has carved out a name for herself in the finance and small business markets, writing hundreds of business articles offering advice, insightful analysis, and groundbreaking coverage. Her areas of focus at business.com include business loans, accounting, and retirement benefits.