Last reviewed: October 2, 2026
Disclaimer: This review summarizes publicly available information, including customer reviews, forum posts such as Reddit, BBB and Trustpilot listings, court records, regulator actions, and news reports. It is not the opinion of MCAFax. MCAFax cannot confirm or deny any allegations, complaints, or claims described here. Information may be outdated or incomplete. MCAFax is not affiliated with this lender. This is not legal or financial advice. Lenders who believe something is inaccurate can contact info@mcafax.com for review.
Summary verdict
National Funding is a San Diego-based small-business finance company that has been operating since 1999 (NerdWallet). It offers working capital loans and equipment financing and leasing (National Funding). Reviewers agree that it funds fast and prices with a factor rate, which makes costs harder to compare than an APR. According to the BBB complaints we saw quoted, most center on unwanted marketing calls and mail, not on loan servicing.
Paper Grade: B paper
National Funding says most of its customers have a personal FICO of 600 or higher (National Funding). Its working capital loans use factor-rate pricing with daily or weekly payments (NerdWallet). That points to a fair-credit borrower using short-term financing. Paper grade describes the borrower profile this lender targets, not the lender's quality.
Research-Based Reputation Score: 7.5 / 10 (reputation rank: tied #16 of 72 lenders scored, as of October 2, 2026)
How we got there: start at 5.0, then +1 for Trustpilot at 4.6/5 (NerdWallet), +1 for BBB accreditation (since February 14, 2013) with an A+ (BBB), +1 because it has operated since 1999, and +1 because our research found no regulator orders against it. Then −0.5 for a BBB customer-review average of 1.0/5 from 12 reviews (BBB reviews) and −1 for recurring complaint themes in 28 BBB complaints over three years, led by unwanted marketing mail and calls (BBB complaints). A 2014 TCPA class-action allegation over fax ads is not scored because we could not confirm that it is pending (Fitapelli & Schaffer). The total is 7.5.
About the Paper Grade: it reflects only the borrower profile and deal type the lender targets (stated credit, time-in-business and revenue minimums, and product type). It is not a judgment of the lender's quality. A = strong credit (about 625–650+), established businesses, APR-priced loans or lines. B = fair credit (about 600+), short-term or factor-rate products. C = credit about 500–599, younger businesses, MCA or revenue-based, or sales-based platform financing with no credit check. D = minimal credit requirements, very new businesses, stacked positions or high-risk industries. Lawsuits and regulator actions never change the Paper Grade.
About the Research-Based Reputation Score (1–10, half-points): it summarizes public signals and is not the opinion of MCAFax. Every lender starts at 5.0. Points are added for BBB accreditation and an A+ rating, years in business, strong Trustpilot ratings, and a clean record (no regulator orders or court judgments in which the lender itself is a named party). Points are subtracted for a BBB rating of C− or lower (−1), a BBB customer-review average below 2.5/5 (−0.5), recurring complaint themes (−0.5 to −1), and a pending class action (−0.5). Government actions are scored only when the lender itself is a named party: −1 for a settled action not about borrowers, −2 for a regulator consent order with a penalty and no admission, −3 for active enforcement or a final order about borrower treatment, and −5 for an industry ban or court finding of liability. The lowest score, 1.0, is reserved for lenders under an industry ban or a final fraud judgment. Ratings we could not read score zero, and routine collection suits are not scored. Every point applied to this lender is listed above. Ranks are as of the date shown; MCAFax cannot confirm or deny any allegation counted here.
At a glance
| Item | Details |
|---|---|
| Products | Working capital / short-term loans; equipment financing and leasing (National Funding) |
| Amounts | Working capital $6,000 to $500,000; equipment up to $150,000 (National Funding) |
| Pricing (as reported) | Factor rate starting at 1.1 for borrowers with strong credit, plus an origination fee that varies (NerdWallet) |
| Terms / repayment | Working capital: daily or weekly payments, terms of 4 to 24 months. Equipment: monthly, 24 to 60 months (NerdWallet) |
| Minimums | Sources differ. National Funding says most customers have a 600+ FICO (National Funding). NerdWallet cites 24 months in business (NerdWallet). WSJ Buy Side cites $250,000 in annual sales, six months in business, and 670 for most products (WSJ). Confirm the current requirements with the lender. |
| Funding speed | Same-day approvals, with funds as fast as 24 hours (National Funding) |
| Credit check | Checking options doesn't affect your score, according to the company. If it refers you to a partner, that partner may do a hard pull (National Funding, NerdWallet) |
| Early payoff | Early-payoff discounts may be offered, with terms disclosed before funding (National Funding) |
What borrowers and reviewers report
Trustpilot: National Funding's site shows 4.6 out of 5, and NerdWallet also reports 4.6 stars (National Funding, NerdWallet). WSJ Buy Side calls its Trustpilot customer-service rating "excellent" (WSJ).
BBB: The company has been accredited since February 14, 2013, and holds an A+ rating (BBB). BBB customer reviews average 1.0 out of 5 from 12 reviews, and BBB lists 28 complaints over three years (BBB reviews, BBB complaints). The recent reviews highlighted on the profile are requests to stop calls and mailers. In one, a reviewer writes, "I have notified NF that I do not want to receive their mailings. They persist, nonetheless."
Website transparency: NerdWallet writes that the site "can make it difficult to determine exactly what type of loan products the lender offers" (NerdWallet). WSJ Buy Side reports that not all terms, such as origination and late fees, are disclosed online (WSJ).
Pros (as reported)
Fast decisions and funding (National Funding, NerdWallet).
A soft credit check to see your options (National Funding).
Early-payoff discounts instead of prepayment penalties, according to NerdWallet (NerdWallet).
No collateral or down payment required, per NerdWallet (NerdWallet).
Cons (as reported)
Factor-rate pricing makes costs hard to compare, and there's an origination fee (NerdWallet).
Payments on short-term loans are daily or weekly (NerdWallet).
NerdWallet says the loans can't be used to build business credit (NerdWallet).
Reviewers report persistent marketing, including the "Ignite" direct-mail campaign that NerdWallet describes (NerdWallet, BBB).
Legal and complaint record
2014 Fax class action: Law firm Fitapelli & Schaffer says it filed a class action on April 11, 2014, alleging that National Funding sent fax advertisements without consent in violation of the TCPA (Fitapelli & Schaffer). We did not find the outcome in the sources we read.
Watch for look-alike callers: A 2023 class-action complaint against a different company, USD Funding LLC, alleges that the defendant "would use deceptive names, such as 'National Funding,'" on telemarketing calls (Dimitrov v. USD Funding, W.D.N.C. complaint). These are allegations against USD Funding, not against National Funding. If a caller says they're from "National Funding," verify the company before you share documents.
Who it may suit, and who may want to skip it
May suit: established businesses with fair credit that need working capital or equipment within days and can handle daily or weekly payments. May want to skip: borrowers who want APR-based quotes they can compare, businesses that want to build business credit, and anyone who qualifies for SBA or bank financing (SBA guide). Use our cost-of-capital calculator to convert any factor rate into an approximate APR.
FAQ
Does National Funding use APR or a factor rate? NerdWallet and WSJ both report factor-rate pricing (NerdWallet, WSJ). What credit score do I need? The company says most customers have a 600+ FICO. Third-party reviews cite different minimums (National Funding). How do I stop the marketing calls and mail? Ask in writing to be removed, and keep a record. Our cease-and-desist letter and call log template can help.
What to do next
Been contacted by National Funding? Report the phone number or email that reached you, and sign up to block unwanted funding calls. → Report a number or email (https://mcafax.com/report?lender=national-funding)
Looking for funding? Tell us what you need, and we'll help you compare National Funding with other funders that fit. → Apply through MCAFax (https://mcafax.com/apply?lender=national-funding)
Sources (accessed October 2, 2026)
National Funding: nationalfunding.com
NerdWallet National Funding review (updated Apr 21, 2026): https://www.nerdwallet.com/business/loans/reviews/national-funding
WSJ Buy Side National Funding review: https://www.wsj.com/buyside/personal-finance/business-loans/national-funding-business-loans-review
BBB profile: https://www.bbb.org/us/ca/san-diego/profile/financial-services/nationalfunding-1126-172005860
Fitapelli & Schaffer case page: https://www.fslawfirm.com/current-cases/national-funding.html
Dimitrov v. USD Funding LLC, No. 3:23-cv-00430 (W.D.N.C.), complaint: https://storage.courtlistener.com/recap/gov.uscourts.ncwd.112649/gov.uscourts.ncwd.112649.1.0.pdf
BBB customer reviews: https://www.bbb.org/us/ca/san-diego/profile/financial-services/nationalfunding-1126-172005860/customer-reviews
BBB complaints: https://www.bbb.org/us/ca/san-diego/profile/financial-services/nationalfunding-1126-172005860/complaints
Disclaimer: This review summarizes publicly available information, including customer reviews, forum posts such as Reddit, BBB and Trustpilot listings, court records, regulator actions, and news reports. It is not the opinion of MCAFax. MCAFax cannot confirm or deny any allegations, complaints, or claims described here. Information may be outdated or incomplete. MCAFax is not affiliated with this lender. This is not legal or financial advice. Lenders who believe something is inaccurate can contact info@mcafax.com for review.