1West Finance vs. Fundible
Fundible isn’t exactly a loan marketplace like 1West, but it does use partner lenders when you don’t qualify for its in-house financing. Both 1West and Fundible offer similar business loans with some notable differences. Fundible tends to offer longer repayment terms.
For example, Fundible’s term loans go from five months to 10 years, while 1West’s lenders stick with shorter terms of six to 24 months. Fundible’s line of credit offers same-day approvals and funding, while you typically have to wait up to 48 hours to get funds from 1West.
With either 1West or Fundible, you can get approved for a loan by meeting unusually low criteria. 1West lenders accept a personal credit score of 500 and either bypass revenue or look for a minimal $10,000 in monthly sales.
Fundible can approve scores down to 450, though loan options might be limited. At a minimum, you need $96,000 in annual revenue, similar to 1West, but a spokesperson stated that you’re most likely to get approved with $450,000.
1West Finance vs. National Business Capital
Both 1West Finance and National Business Capital are lending marketplaces with expansive networks. But National Business Capital compares over 75 lenders versus 1West Finance’s 50 partners. Both marketplaces offer a similar business loan selection, though 1West adds real estate financing that NBC doesn’t offer.
1West Finance business loans have a wider range of loan sizes. For example, term loans through NBC go from $10,000 to $10 million, and lines of credit offer $100,000 to $10 million. With 1West, you can get term loans (working capital loans) from $5,000 to $1 million, and lines of credit from $5,000 to $500,000.
Both marketplaces also offer loan choices to startups with just a few months in business. 1West’s choices include working capital loans and lines of credit to these startups, and NBC offers equipment and revenue-based financing.
Although both brands can approve bad credit business loans, 1West Finance provides five loan options to subprime credit borrowers versus NBC’s three. Both approve personal credit scores in the 500 range or don’t require a minimum credit score, as is the case with some NBC loans. 1West’s options include everything from working capital loans to lines of credit to real estate, equipment and accounts receivable financing. For NBC, bad credit borrowers can get term loans, equipment loans and revenue-based financing.
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data points collected
To select the top small business lenders, Bankrate considers more than 20 factors. These factors include loan amounts, approval and funding times, credit requirements, APR or factor rate ranges, fees, and easy-to-find rate and fee disclosures. Bankrate reviewed more than 30 lenders and gave each a rating, which consists of five categories:
- Accessibility: Factors considered in this category include minimum loan amounts, approval and funding speed, minimum annual revenue and minimum credit score.
- Affordability: This section measures interest or factor rates and fees.
- Transparency: How easy it is to find important rates, fees and eligibility requirements are considered in this category.
- Customer experience: Customer service hours, online applications and app availability are considered in this category.
- Flexibility: This category considers factors like the number of loan products and ability to change payment due date.
Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.
