Business LoansSmall Business Lender Reviews
How Does LendingTree Get Paid?
LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

First Capital Business Finance Review

Updated on:
Content was accurate at the time of publication.

Not disclosed

$5,000 to $5,000,000

Startup financing available for some products

$96,000

Our Verdict
If you’ve had trouble securing financing elsewhere, [mmps name='sbloan.83.bankName'] may be willing to work with you. Keep an eye out, though — some of the products are high-risk, expensive or both.

ProsCons

 Relatively transparent underwriting requirements

 Accepts bad credit applicants

 High maximum loan amounts

 Startup financing available

 Does not publicly disclose rates or fees

 Applicants with bad credit are likely to pay higher rates and fees

 Secured and title loans require collateral — which you could lose if you fail to repay

A bad credit history won’t necessarily disqualify you from working with First Capital Business Finance. Some of its lending products have a minimum credit score requirement of 500, which is already pretty low. But the lender takes things even further, offering several lending products with no minimum credit score requirement at all.

Just because the credit score requirements are lax doesn’t mean there aren’t any requirements at all. Some loans require collateral, and others have minimum revenue requirements for your business. On top of that, some of the borrowing options are inherently expensive regardless of your credit score.

That means you’ll want to think long and hard before signing on the dotted line. If you do have a spotty credit history, make sure whatever caused those problems in the first place has been resolved as failure to repay could end up not only in the seizure of your property, but also with even more negative line items on your credit report.

Who is First Capital Business Finance best for?

  • Construction companies, truckers or other businesses with heavy equipment needs. Falling into one of these categories isn’t mandatory, but First Capital caters to these industries.
  • Applicants with bad credit. Many of First Capital’s credit products have no credit score requirements, and the ones that do have a low bar of 500.
  • Newer businesses. While some lending products require six months of business history, others are available to startups.

ProductLoan amountsRepayment termEstimated APR rangeFees
Commercial truck title loans$5,000 to $500,0001 to 3 monthsNot disclosedNot disclosed
Secured term loans$20,000 to $3,000,00012 to 60 monthsNot disclosedNot disclosed
Equipment financing$5,000 to $5,000,00012 to 72 monthsNot disclosedNot disclosed
Working capital loans$5,000 to $2,000,0003 to 24 monthsNot disclosedNot disclosed
Invoice factoringUp to 90% of your accounts receivableNot disclosedNot disclosedNot disclosed

Commercial truck title loans

Title loans are an incredibly expensive and risky way to borrow, and First Capital Business Finance acknowledges this fact. When you take out a title loan on your commercial truck, not only will you be subject to high interest rates with a tight repayment time frame of 1 to 3 months, but you’ll also be putting up your rig as collateral. That means if you can’t repay on time, you could lose your truck.

That said, these loans can get you quick access to funds, with First Capital approving applications in as little as two hours, and disbursing funds within as few as three days.

Secured term loans

You can secure more funding for your corporation or small business with a comparatively longer repayment schedule of 12 to 60 months if you have construction equipment to put up as collateral. You can borrow up to 65% of your equipment’s value. However, you do still have to weigh your ability to repay realistically, as collateral can be seized if you fall through on your obligations.

First Capital Business Finance’s big selling point on these secured term loans is lax underwriting requirements, with no minimum credit score requirements and the ability to secure a loan even if you have bankruptcies or foreclosures on your credit report. While the lender doesn’t disclose interest rates publicly, with these underwriting requirements, you might expect them to be on the higher side.

Equipment financing

First Capital Business Finance also provides unsecured loans for equipment financing. Repayment terms are 12 to 72 months, and you will have to meet stricter underwriting requirements. For example, you’ll need a credit score of at least 500 to qualify, though there is no minimum time-in-business requirement. First Capital will fund both new and used construction equipment.

Working capital loan

Working capital loans with First Capital Business Finance can be issued as either a loan or a line of credit, with repayment terms ranging from 3 to 24 months. These loans are unsecured, though you will need a minimum credit score of 500 to qualify, in addition to at least six months in business with monthly revenue of at least $8,000. Working capital loans can be approved as soon as the same day, but it will take a minimum of five days to see your funds in your bank account.

Invoice factoring

Even startups qualify for invoice factoring with First Capital Business Finance. Invoice factoring can get you out of a pinch if you have outstanding accounts receivable, but it can also cut into your profits, which can get expensive if you’re using it long-term.

With First Capital, you can borrow up to 90% of the amount of your current outstanding invoices with no minimum credit score requirements.

loading image

Minimum annual revenue$96,000 for working capital loans and equipment financing
Not disclosed for truck title loans, secured term loans and invoice factoring
Minimum time in businessNo minimum time in business requirement for equipment financing and invoice factoring
6 months for working capital loans, secured term loans and truck title loans
Minimum credit scoreNone for commercial truck title loans, secured term loans, invoice factoring
500 for working capital loans and equipment financing

Business lending requirements at First Capital Business Finance vary depending on the lending product. For some products, there’s no minimum credit score requirement, and for others, the minimum score is 500. Keep in mind that the more checkered your credit history, the more likely you are to be offered unfavorable rates and terms — even if you qualify.

Startups qualify for equipment financing and invoice factoring, but for all other products you will need at least six months of business history. Be prepared to prove $8,000 in monthly revenue for working capital and equipment financing loans. You may have to prove similar revenue for other lending products, but First Capital Business Finance does not publicly disclose this requirement.

Required documents

There are different paperwork requirements for different types of business loans at First Capital Business Finance, but generally speaking you should be prepared with:

  • Basic business information, like name, address and legal structure
  • Length of time in business
  • Business EIN
  • Information about the business’ rent, mortgage and landlord
  • Name, address and contact information for principal business owner(s)
  • Social Security number for principal business owner(s)
  • Driver’s license number for principal business owner(s)
  • Information about the equipment or truck you want to purchase or are putting up for collateral

While there are no minimum credit score requirements for many of First Capital Business Finance’s lending products, you will still be asked about your credit history. For example, you’ll be asked about past bankruptcies and vehicle repossessions, current debts, outstanding tax liens and open litigation. These things won’t necessarily disqualify you, but you are required to disclose them.

How Does LendingTree Get Paid?
LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.
First Capital FinanceCommercial Fleet FinancingPlatform Funding
Minimum credit score
  • None for commercial truck title loans, secured term loans, invoice factoring
  • 500 for working capital loans and equipment financing
None500
Loan products offered
  • Commercial truck title loans
  • Secured term loans
  • Equipment financing
  • Working capital loans
  • Invoice factoring
Equipment financing
  • Merchant cash advance
  • Business loan
  • Business line of credit
  • Equipment leasing
Time to funding
  • 3 days for commercial truck title loans
  • 5 days for working capital loans
  • Not disclosed for other products
24 hoursSame day to 2 business days
Starting rateNot disclosedNot disclosed
  • 6.50% APR for equipment leasing
  • 1.08 factor rate for business loans
  • 1.08 factor rate for lines of credit
  • 1.08 factor rate for MCAs
Maximum loan size
  • $500,000 for commercial truck title loans
  • $3,000,000 for secured term loans
  • $5,000,000 for equipment financing
  • $2,000,000 for working capital loans
  • Up to 90% of current accounts receivable for invoice factoring
$1,000,000$5,000,000
Minimum annual revenue$96,000 for working capital loans and equipment financingNot disclosed for truck title loans, secured term loans and invoice factoringNot disclosed$120,000

First Capital Business Finance vs. Commercial Fleet Financing

Commercial Fleet Financing offers comparatively few lending products when held up to First Capital Business Finance, but it can help your construction business finance the equipment it needs with funding available in as little as 24 hours. While technically there is no minimum credit score requirement, it does prefer borrowers with a score of at least 640. If you don’t meet that bar, you’ll be asked for extra paperwork and be subject to less favorable rates and terms, but it’s not like you’ll be getting a great offer with a poor credit history at other lenders — including First Capital. Maximum loan amounts are lower with Commercial Fleet Financing, so it’s not a good option if you need more than $1,000,000.

First Capital Business Finance vs. Platform Funding

Platform Funding is a marketplace, which means it works with a network of lenders to get quotes. Funding isn’t offered directly. This can help you compare offers, but it’s hard to know what you’ll qualify for without going through its application process.

Like First Capital, it works with borrowers with low credit scores. Minimum revenue requirements are slightly higher with Platform Funding, which will make some businesses unable to qualify. But the two companies offer similar products and cater to similar companies, so the main deciding factor will be whether you’re looking to apply with a direct lender or gather quotes from a marketplace.