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Noble Funding Review

Best Alternative Lender for Working Capital Loans

A Business News Daily Review

Product and service reviews are conducted independently by our editorial team, but we sometimes make money when you click on links. Learn more.

If you need to increase your cash flow, working capital loans can be a suitable short-term funding option for your business. Alternative lenders provide working capital loans to companies that need quick access to capital in order to grow. If your business is in growth mode, liquidity is essential. A working capital loan is one avenue for establishing financing for your growing venture.

After much research and analysis, we recommend Noble Funding as our 2019 pick for the best alternative lender for working capital loans. To understand how we selected our best picks, you can find our methodology and a comprehensive list of alternative lenders on our best picks page.

Noble has a quick application process that includes a free quote, which means it's ideal for business owners looking to understand what kind of offer is available without committing to a loan. Here's more on why it's one of our best picks.

Editor's Note: Trying to find a business loan that's right for you? Fill in the questionnaire below, and you will be contacted by our partner alternative lenders, who will help you find the right loan for you.

Noble doesn't provide an online application or approval process. Instead, business owners work directly with a Noble loan specialist. This is ideal for getting individualized attention, but it can be limiting for those looking for a quick quote online. This is likely because, while Noble provides some financing, the company also pairs businesses with banks and other lenders for the best financing options. This means loan specialists are well-versed in your area of interest and can tap multiple sources.

Once you provide basic business information, like name, annual sales, contact information, and business location, a Noble loan specialist will contact you and work with you through the process. The specialist analyzes your business finances, which can include yearly revenue, credit scores and other financial information. After you receive an initial quote, you'll have a better understanding of what your loan through Noble will look like.

For its working capital loans (which Noble calls its Fast Cash Business Loans), Noble says it looks at income and credit scores. Because it works with various lenders, it doesn't have a lot of defined requirements.

Noble works with businesses that have credit scores ranging from 550 to 800. Beyond that, the company doesn't provide a lot of information around revenue totals or the amount of time in business. There are likely some baseline requirements to get a loan, but they depend largely on each individual business owner's financial situation and business history.

Because Noble works with multiple partners, it provides small business owners with flexibility. Its free quotes also mean you can start the process and understand what financing is available without committing to a loan.

Noble provides working capital loans ranging from $50,000 to $2,000,000. Businesses can also get quick financing – funds can be transferred in as little as two to three business days. Some lenders we evaluated provide same-day financing, but based on the amounts and Noble working with multiple lenders to get you the best deal, funding is still quicker than traditional banks.

Individual rates vary widely depending on your business's financial situation, but Noble offers additional information on overall loan structure and rates for its Fast Cash Business Loans. In general, rates vary from six to 18 months, making this an ideal short-term loan option. Noble also says that these working capital loans can be renewed multiple times once the loan is paid down to half the original amount. This level of flexibility means small business owners will be able to increase working capital and better manage cash flow.

Noble's fast cash loans can be taken out even if you have an existing UCC-1 blanket lien on your business's assets. This can help you manage cash flow even when you have other loan obligations. Loans with Noble operate largely on a personal guarantee, but the company said this can be waived in some cases based on your business's financial history. Because Noble works with other lenders, it can present you with multiple options and agreements on rates, terms and collateral, so you can pick what works best for your business.

We posed as a small business owner and called Noble sales agents multiple times to find out more about their loan offering. Each time we called, representatives helped us learn more about Noble's loans and what might be best for our business. They didn't jump quickly for our information or try and sell us on why Noble was an ideal lending option. Instead, they worked with us so we could better understand the company's offering. They answered all of our general questions about the alternative lending industry and provided us with advice.

Some lenders we called sent us straight to voicemail every time. Noble not only answered each of our calls but took the time to help us understand what was right for our business. We were very pleased with Noble's customer service.

Noble has a solid online reputation with the Better Business Bureau. It's an accredited business, scoring an A+ with the organization. As of March 2019, there were no complaints filed on the company's BBB page either. There also weren't any customer reviews. Other review websites also verified Noble as a solid lending option. The company has been lending to small businesses for over a decade and has a wide range of loan products in addition to its working capital offering.

Working capital loans are flexible business loans that are ideal for business owners looking to grow their business. They differ from traditional small business loans because of their flexibility and quick funding options. These types of loans are ideal for managing cash flow, covering payroll, investing in marketing or advertising campaigns, refinancing debt, paying business taxes, or making minor renovations or improvements. These loans are usually short-term, so any short-term expense or cash flow management problem can be addressed with a working capital loan.

The only major limitation we found with Noble is that it works largely with other lenders, meaning you may not get a loan directly through Noble. This can be both an advantage and a disadvantage for small business owners. While you can compare multiple offerings from multiple lenders quickly (far more quickly than conducting research on your own), Noble also likely charges a fee for this work. We couldn't determine Noble's fee for its fast cash business loan. Noble's other offerings, like equipment financing, include fees around 1 to 3%. It may differ for the Fast Cash Business Loan, but it may be a good idea to ask Noble representatives about the fee once they provide the quote.

Ready to choose an alternative lender? Here's a breakdown of our complete coverage:

Editor's Note: Trying to find a business loan that's right for you? Fill in the questionnaire below, and you will be contacted by our partner alternative lenders, who will help you find the right loan for you.

Matt D'Angelo

Matt D'Angelo is a contributor covering small business for business.com and Business News Daily. After graduating from James Madison University with a degree in journalism, Matt gained experience as a copy editor and writer for newspapers and various online publications.