Noble Funding Review

Why Noble Funding Is Best for Customer Service

Noble Funding is our recommendation for a business lender that excels at customer service because the company works only with customers whose needs it can meet. It does so through customized loan packages that match a customer’s exact needs with a loan provider that can completely fulfill those requirements. Plus, Noble Funding will work with you even if your credit score is low; it’s among the friendliest, most genuine lenders out there.

On top of all that, Noble Funding is extremely easy to reach. The company’s phone number and an online contact form are clearly displayed on the Noble Funding website. Representatives are happy to assist you, as the company’s nearly 200 Trustpilot reviews (with an average score of 4.9 out of 5 stars) attest. Furthermore, Noble Funding has been accredited by the Better Business Bureau (BBB) for 17 years. The company’s mission, vision and reputation make the lender stand out for its exceptional customer service.

Borrowing Costs

The interest rate you’ll pay on a Noble Funding loan depends on your credit score. Rates on Noble Funding’s term loans start at 8.99%. When you apply for a quote, the lender will tell you how much it will cost to borrow and how long your repayment term will be. The company prides itself on making sure you don’t face any surprises along the way, which we appreciate.

One benefit of working with Noble Funding is that it doesn’t charge any upfront fees, except on accounts receivable (A/R) and inventory financing. However, these fees are initial deposits that are completely refundable if the loan is fully repaid, so they should be of minimal concern. Not all lenders will waive fees for documentation or loan origination like Noble Funding does; for example, our review of Crest Capital notes that the lender charges a $250 documentation fee to process your loan. [Get tips on how to negotiate a business loan.]

Applying for a Loan

To apply for a loan from Noble Funding, first you have to contact the company online or by phone to get a quote. A loan specialist will analyze your business’s financial history and future prospects to determine which financing option makes the most sense for you. They will then make you an offer. This is more time-consuming than simply filling out an online application and getting approved a few hours later as you can do with some rival lenders. For a quicker experience, see our review of Rapid Finance and our SBG Funding review.

Because Noble Funding offers many loan products, the company wants to make sure it pairs you with the right one. This lender views you as a partner and wants to continue funding your needs for years to come. When dealing with your Noble Funding loan specialist, you’ll need to provide information about your business, financial and tax documentation, and proof of business ownership.

Among the qualities that set Noble Funding apart from its competitors is its willingness to work with a wide variety of borrowers. Whether you have a credit score of 500 or 750, Noble wants to do business with you. Small business lending just doesn’t get any friendlier than that, even with other options for high-quality business loans. However, to work with Noble Funding, you can’t have any bankruptcies or a lien on your assets, and you need to have at least a 51% ownership stake in the business. Also, your company’s annual revenue must be at least $250,000.

To apply for a loan with Noble Funding, you need to contact the company either via an online form or over the phone. Source: Noble Funding

Loan Types and Terms

Noble Funding offers several loan types, including the products outlined below.

• Short-term bridge loans are available for $100,000 to $2 million. Noble Funding can approve this kind of loan in 24 hours and fund it in two to three days. There are no upfront fees or collateral requirements. Noble Funding doesn’t require a personal guarantee, either, which isn’t common in the alternative loan market. The terms on its short-term bridge loans range from four to 18 months. Once you pay half the loan back, you can continually renew the loan; that’s yet another reason Noble Funding is one of our best picks. You can even have a credit score as low as 500 and still get this loan. However, be careful if your credit score is seriously challenged, as you’ll be stuck with a high interest rate.
• Long-term loans can range from $75,000 to $500,000. Noble Funding can approve you in two or three days, and the APR starts at 8.99%. There is no collateral required, and terms can be three, four or five years. You’ll need a credit score of at least 650 and a positive net income in at least one of the past two years. You also have to be in business for 18 months or more before applying.
• Unsecured loans go from $50,000 to $2 million. Depending on the loan amount, Noble Funding can approve the loan the same day you apply and fund it the next business day. If you’re borrowing more than $250,000, it will take 48 hours to approve and fund the loan. Unsecured loans don’t require much documentation; you only need a credit score of at least 525, and you have six to 18 months to pay it back.
• Asset-based lending is a credit line based on your accounts receivable (or both that and your inventory). You can obtain $500,000 to over $25 million in funds through Noble Funding. You’ll receive a term sheet for this loan within 72 hours of getting your financial package. You’ll pay interest rates only slightly above what traditional banks charge for credit lines. What’s more, there are no requirements for your personal credit score or time in business for this loan, with repayment terms spanning six months to five years. [Learn more about the small business financing options that bypass traditional banks.]
• A/R lines of credit are revolving loans that run from $500,000 to over $8 million with Noble Funding. Businesses looking to take out loans on accounts receivable of at least $500,000 and A/R at most 90 days old may qualify. Noble Funding touts this funding option as a low-cost alternative to invoice factoring.
• Commercial mortgage loans with Noble Funding start at $750,000 and can reach over $15 million. In fact, construction loans can be for as much as $30 million. These loans’ terms are 30 years, and highly qualified clients can make interest-only payments for the loan’s first five years. Interest rates start at 6.75%, with full-documentation and low-documentation options.

Noble Funding’s financing options have different funding amounts. Source: Noble Funding

Noble Funding Features

Strong Reputation

Noble Funding has provided more than $1 billion in small business funding over the years. The company has been in business since 2005, has an A+ rating with the BBB and has earned nearly 200 positive reviews on Trustpilot.

That kind of track record should give borrowers some assurance that Noble Funding isn’t going to try scamming them into paying exorbitant hidden fees or only provide unreasonable repayment options. It’s also more reassuring than, say, the D rating that Biz2Credit has received from the BBB. (That said, read our Biz2Credit review to learn why this lender is nevertheless our top pick for marketplace lending.) Many lenders aren’t upfront with potential customers and clients, but that isn’t the case with Noble Funding.

No Collateral Requirement

As with unsecured business loans, Noble Funding doesn’t require you to offer up collateral or a personal guarantee. We especially like this feature because it isn’t common in the industry and shows that Noble Funding has faith in its customers’ ability to repay their loans. Among the lenders we reviewed, only Fora Financial also lacks collateral and personal guarantee requirements. (Read our Fora Financial review to learn why this lender is our top pick for businesses seeking short-term loans.)

Relaxed Qualifications

Noble Funding is willing to work with small businesses even if their credit has taken a hit (or two or three). You can get a loan with a credit score of around only 500. You will likely pay a higher interest rate if your score is that low, but sometimes it’s worth it. The company does have stricter requirements for its long-term loans, though, and only businesses with at least $250,000 in annual revenue can apply.

Customer Service

Noble Funding provides customer service by email and phone during normal business hours. We love how this company, unlike some lenders, prides itself on treating each borrower as unique. There are no one-size-fits-all loans with Noble Funding. The company listens to its customers, analyzes their current and future prospects, and then finds a loan that meets their needs. Because Noble Funding has a network of lending partners, you won’t have to worry about this financier putting its needs ahead of yours. It is also one of the few lenders that doesn’t charge upfront fees in most cases.

Notably, Noble Funding has been providing small businesses with loans, and has been accredited with the BBB, since 2005. This lender also stands out for its glowing reputation; Noble Funding doesn’t have a single negative review on the BBB site, and across its nearly 200 Trustpilot reviews, its average rating is 4.9 out of 5 stars. These positive ratings and large number of reviews are uncommon, and quite welcome, for an alternative lender.

Drawbacks

Depending on your situation, there are a few potential downsides to Noble Funding. If you want to borrow money for a long-term loan, you need a credit score of at least 650. That requirement could shut out some small business borrowers. If you have a low credit score and get approved, you’ll likely pay a high interest rate. You must weigh that cost against the benefit before signing any loan documents.

Another potential limitation is that you need to have at least a 51% ownership stake in your business to be eligible for a Noble Funding loan. Depending on a company’s setup, that could pose a problem for some potential borrowers. Furthermore, Noble Funding works only with businesses with annual revenues of at least $250,000, which is a potential obstacle for many prospects, especially relatively new startups.

Methodology

To determine the best business lender for businesses that are concerned about customer service, we sought lenders that offer common loan products at affordable prices and with reasonable terms. We then compared and contrasted these lenders’ customer service offerings, customer reviews, BBB accreditation and overall reputation.

We also spoke with company representatives to get a sense of how they prioritize customers’ needs over their own. Noble Funding is built on a model where success means getting the customer exactly what they need, making everything easy, and being accessible and honest. For this reason, we chose Noble Funding as our top business lender for businesses seeking exceptional customer service.

Overall Value

We recommend Noble Funding for …

• Business owners who have a credit score of at least 650 and are looking for a long-term loan.
• Borrowers who prioritize customer service, a good reputation and personalized guidance in their lending partner.
• Businesses that want loans that meet their exact needs.

We don’t recommend Noble Funding for …

• Borrowers who have low credit scores and need long-term loans.
• Minority-stake owners in a business.
• Businesses with less than $250,000 in annual revenue.