Consumer Reviews and Complaints
My experience with Business Finance Advance has been excellent and I will recommend them to a friend!
My experience was horrible. I see the reviews. They have to be writing their own reviews. They don't get back to you the next day. It takes weeks. They keep asking you for all this additional information. They tell you that they're direct lenders but really they are a third party company so they have to charge extra in order to make money. The guy I spoke to was nice but he lied - said they don't base it on credit but they want to run your credit so they do base it on credit. It takes about two weeks for them to get back to you. It is a drawn out process. You are better off going to the real lenders. You can look them up. When I did that I got good rated, not 40 and 50 percent. If you think 40 and 50 percent is excellent then you have another thing coming. If you don't believe me you can try it yourself and just wait two weeks for them to call you back with crazy interest rates.
My advice is to find a direct lender. You can try knight capital funding, everest funding, nextwave funding. If you make bigger revenues like 30k and up you can try ondeck funding, can capital funding. For very large 100k and more you can try Etrust finance, funding circle, nationwide funding, business backer funding. If you do some research you can find them. Just type in "business funding", "working capital for business". It should not be that hard or you can pay more money, get rob and have to pay back almost double with the third party companies like this one. You will not find out until it's too late that you gonna need another one. That's the trick. They word everything different so you don't realize until youre stuck in the situation.
What I have found out also maybe you guys don't know you have 30 days to give the money back. If I was you I would go to the real lenders, not the 3rd party people who are gonna charge you 15 to 20 percent extra. That's a lot of money. These reviews was wrote by them. All you have to do is make a couple of emails. These guys are crooks. See for yourself. High rates, short payback, they tell you it's not base on credit but you get like 20 hit on your credit report, they tell you they can get the money you need but they don't. Direct lenders, no 3rd party. That's my advice.
Very fast. I had filled out the application and I was called the next day. Approved in just one day! I was able to get a loan for my business in one single day. I don't know of any bank that would loan money that quickly.
The man that we wound up working with was quite helpful and professional. We needed a little time to think about everything and he respected that and reached back to us at the agreed upon time the next day. Again, very helpful as he answered all of my questions making things very simple for us. I really appreciate that.
The people that work at Business Finance Advance are really nice! They helped me out during the application process and it was overall pretty simple. I was able to get the funds I needed for my company in a very timely manner. Isn't that enough said?
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Business Finance Advance is a great company to do business with! If you are a small business owner and need extra funds to grow your business this is 100% the place to go. The account rep assigned to me was great, the whole thing was quick and easy and no headaches!
Worked with these guys a couple times now. Always pleasant to work with. The entire process is pretty simple and they help us get the money we need for our business. A+ stuff.
Business Finance Advance funded me rather quickly. I recommend them if you need any quick capital for your business. The staff is great, super nice and knowledgeable. They really helped me take my small company to the next level.
My business is growing and I needed a loan to stock up on more inventory. So I applied with these guys and boy was I surprised. First off, it was quick. They contacted me less than a day after I gave them the application and the guy I talked to was great. He answered all my questions and laid everything as plain and simple as he could. I was able to stock up my inventory and it was easier than I could have ever imagined.
They are liars. They aren't direct lenders. They say one thing and it's all a lie. They will have more money for you but will offer you less money so they can't make a buck. You are better for going Straight to the lender yourself. The lender has a set rate. They give them 15 percent to play with and a additional 2 percent to play with. They try to charge you crazy amount of money so basically you going through a middle MAN. They say they trying to help you so why not offer you the amount that you need you can get on your feet. They will tell you that is all the money they have but to give you which is a lie. They are lies crooks and they will charge you all these extra fees on top of the money so you not even getting the full amount of money you need.
Try going to the lenders yourself. BFA, Everest, OnDeck, CAN Capital, for the bigger ones Yellowstone, Knight Capital. To start you can find direct lenders. You can tell by the rate if they charging you 38 percent you know they not direct lenders. Direct lenders will charge you 20 to 28 percent which is still high but not that crazy.
The customer support is very good and I love that everyone is nice and professional when trying to help their customers. They love to help when we need help and I love that they are patient when their customers. I love that the process is very quick and it is easy for completing. It isn't much work to complete. It's very fast to take it and submit and only takes weeks for results to come back. The rates and terms are very understanding but quite long but it's worth reading because you can see what is expected of us and them at the same time without any disturbances or misunderstanding. The online tools are plentiful and I love that they are easy to complete without any misunderstanding and is always working when needed. Also the website is quick and it's always working fine.
Company has quick support response times. They take care in solving any issue that may arise. Easy to use and manage, never had any issue that wasn't resolved very quickly. They work with you through the whole application process, explaining in detail any questions you may have, live support and willingness to guide through any issues. The rates are very reasonable in today's market. Terms of the agreement are plain and easy to understand for even the first time application. Their website tools are easy to understand and use. Live technical support gets you a quick response from a live person quickly and resolved in a timely manner.
The person I talked to was not very friendly and wanted to rush through the process instead of fully answering my questions. They need to be more personable and not as robotish. Was left with partial or no answers to my questions. Didn't feel too appreciated during the process. The online tools were very helpful. The site was very easy to navigate through. I would totally recommend this part. No problems whatsoever.
Great customer service, helpful and friendly. Whenever I had a problem they were there for me, asking what I needed and if they could help in any way, they were very polite and nothing was too much trouble. You ring up describe how much you want and what you need it for. They ask you what your time frame for repayment will be and what interest rate will suit ie what package. Rates and terms are both competitive, rates of interest are low and terms are fair. Repayment period is not too onerous and the whole experience was not stressful... They could not have been more helpful. Rates were easy to find and repayment time frames. It was a really simple process. They needed to know what the loan was for and our turnover to determine whether it was feasible just to ensure we would not default for our peace of mind.
They denied me without reasoning. It was a horrible experience. They ruined my business opportunity, and that is why I am very angry. They ruined my life. It was very easy to apply, however, it was a very long process that could have been cut with just a few reforms. It wasted so much of my time and made me very angry. I was very content with its Rates and Terms. They were very fair and beneficial to the loan. I would try them again if they did not ruin my life. They did not help at all. When I needed assistance, I needed to call customer support, which did not help either. This also made me very angry and ruined my life.
It was good. I received nice support. Friendly staff, they answered my questions arguably good with no troubles at all. It turned out pretty good, no problems. I filled out the application just as specified and everything went smoothly from there. The rates were fine, all reasonably priced with no troubles. I would definitely use it again, and consider them next time. Easy to use tools with reliability and durability.
The cash advance from Business Finance Advance has helped out a lot when we needed to get a job done so then we can pay the money back and we've got that extra capital. It is such a fast process and always worked out well for us. We've dealt with other companies before but Business Finance is absolutely the best one. The representatives are very good to work with, always quick to respond and willing to help. If one thing doesn't work, they would absolutely find another way to make it work.
I received a credit cash advance from Business Finance Advance and it absolutely helped my business plans. I am happy with them. Their representatives are very nice, honest, straightforward, and efficient. I recommended more business for them.
We have done multiple business with BFA and we are satisfied with their efficiency.
Business Finance Advance have good people and I am happy with my experience with them.
These couple of years, I've been with Business Finance Advance and I've gotten two loans. Reps were knowledgeable and I'll definitely recommend them.
BFA helped a lot with my business. I was able to complete my website with the recent loan I got. I'm very proud of it and it's up and running. So I have nothing but good thing to say about them. ** was a really nice guy. I told him I need some money and he get to it and helps out. I've been in business for 15 years and they helped me do things that I can't do by myself. I would definitely recommend BFA to a friend. Hopefully they'll qualify me. I have built up a client base and I'm picking up like four loans with them. The only thing is that I'm not pleased with their underwriters because they show no mercy. I think they're too difficult especially with someone taking out a fourth loan. I think it's unfair. I pay for my loan but yet I still get issues, like I never get what I want with them for whatever reason.
I think we got a business or personal loan from Business Finance Adventure. Interest is way too high - it can be 50%, 20%, 30%, there's no set. There’s nothing sketched in stone. They have to go out and keep looking for more stuff I guess. But at the end of the day, it's what it is and I just have to do what I have to do. But it helped and reps were knowledgeable so I'm still pretty satisfied.
No problems. No issues at all. Sales rep was knowledgeable and explained to us our options well.
Got the funding needed in a timely manner. Great to work with.
My experience with Business Finance Advance was good so I would recommend them.
Business Finance Advance called me when I was fishing around for some money several years ago. Our business was primarily builder-based so obviously we went through the economic downturn and I found myself in need of some capital. I got a cash advance from them based on credit card bills and it helped us survive. Without that influx of cash, I might not have survived though the money comes at a high price - there's no question about that. What I needed was time to recover and that bought me time. Also, they fund it very quickly when you need it and they did what they said they were gonna do. In addition, if I was gonna recommend it to somebody, it would be with the caveat that you understand you're paying back a lot of money. And if it's in a situation where that'll benefit you and you feel you can pay it back, then do it. But if that's gonna be onerous for you, then you shouldn't do it.
I had an ACH loan from Business Finance Advance and it has helped my business. I don't like the terms, but banks aren't really loaning to small businesses. I just talked to somebody, I sent them some information and they got back to me and told me when I qualified for it. They were courteous and professional.
Without my merchant credit card advance from Business Finance Advance, my business would be stressful. It's all been excellent. Their representatives are good people.
Business Finance Advance called one of my businesses and then I received high risk loans - the business loans from them. Due to its crazy high interest rate, it only helped my business a little bit.
Barbara FriedbergPersonal Finance Contributing Editor
Barbara Friedberg, MBA, MS is a former investment portfolio manager with decades of financial experience. Friedberg taught Finance and Investments at several universities. Her work has been featured in U.S. News & World Report, Investopedia, Yahoo!Finance and many more publications.
More about Barbara→
Also known as BFAdvance LLC, Nationwide Business Advance Companies, Merchant Cash Advance Companies and Business Advance Companies. Business Finance Advance offers funding opportunities to small, mid-sized and large companies. BFA deals in alternatives to traditional bank loans as part of its mission to make funding more accessible to businesses.
- Products: Accessed through the Future Credit Card, borrowers can fund accounts receivables, purchase orders, equipment and merchant, as well as other business advance needs. BFA also offers alternative business funding programs.
- Interest rates: BFA advertises rates as low as 12.99 percent as of April, 2016 as well as variable interest rates. There are no application fees.
- Service: Quick turnaround with unique computerized loan matching technology.
- Borrower qualifications: No collateral, tax return or personal guarantee required. Borrowers must have credit card sales of at least $4,000 per month.
- Fast approval process: Users can expect to receive loan funds deposited into their accounts within seven days of approval. Initial acceptance takes approximately 24 hours.
- Large loan limits: Loan amounts are based on monthly credit card sales and range from $2,000 to $1,000,000.
- Repayment options: There are no fixed payments. After receiving the loan, borrowers repay from the company’s future credit card proceeds. Instead of a fixed payment, the borrower repays BFA a fixed percent of their sales plus a pre-determined ‘factor fee.’ There is no loan term, and funds are repaid solely based on company credit card revenue.
- Best for Small and mid-sized business owners that accept credit card payments.
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Business Finance Advance Company Profile
- Company Name:
- Business Finance Advance
- 1506 Kings Highway
- Postal Code:
- United States