Who Triton Capital is best for
Triton Capital business loans are best for small- to medium-sized businesses and newer businesses. According to a spokesperson, its loans for equipment purchases are available to startups, while working capital loans are available for companies that have been in business for as little as one year. Note that the required annual revenue of $350,000 might put these loans out of reach for some newer businesses.
Who Triton Capital may not be best for
This lender is not good for businesses that need to borrow particularly large amounts. The maximum loan amount ranges from $250,000 for working capital loans to $500,000 for equipment loans. Its SBA loans only offer loan amounts from $30,000 to $350,000, much lower than the $5 million that most SBA lenders offer.
Triton Capital vs. U.S. Bank
Triton Capital and U.S. Bank offer some similar business loans, including term loans, equipment financing and SBA loans. But U.S. Bank gives more options, adding lines of credit and commercial real estate loans to its product portfolio. Business owners can borrow up to $12.375 million with one of U.S. Bank’s SBA 504 real estate loans.
Some Triton Capital small business loans have shorter repayment terms. For example, its term loans go up to 36 months. U.S. Bank offers term loans of up to seven years and doesn’t set repayment terms for its line of credit unless you get its business equity line of credit which offers a five-year maximum term.
U.S. Bank’s equipment loan has standout features. It doesn’t require a down payment, offers up to $1 million in funding, and you can raise the amount borrowed to 125 percent to finance soft costs like freight shipping.
Triton Capital’s equipment loan goes up to $500,000 and charges a $150 to $750 documentation fee when applying. But it offers flexible repayment choices: from semi-annual or seasonal payments. However, a U.S. Bank secured business term loan does not come with any origination fees.
Triton Capital vs. QuickBridge
Both direct lenders, Triton Capital offers three business loans versus QuickBridge’s mainstay short-term loan option. Both lenders offer term loan amounts up to $500,000. With QuickBridge’s term loan, you can get terms up to 18 months. Meanwhile, Triton Capital offers slightly longer terms, up to 36 months, for its short-term working capital loan. Its other loans offer terms up to seven years.
QuickBridge is the more accessible lender when trying to meet its revenue requirements, though both lenders require more than usual revenue for online loans. QuickBridge sets its revenue standard at $250,000 annually. Triton Capital sets its annual revenue to $350,000. Both lenders accept fair personal credit scores. But Quickbridge sets its standard to 650, while Triton Capital accepts personal credit scores as low as 600.
That said, QuickBridge uses factor rates for their loans. When comparing lenders, it can be helpful to convert a factor rate to an interest rate to get a better understanding of how they compare.
But if you’re going for an SBA loan from Triton Capital, you’ll need to meet much higher requirements. SBA loans require a minimum of $500,000 in revenue annually, four years in business and a personal credit score of 680.
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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.
