In a Nutshell: Small business owners can quickly become discouraged when banks turn them down for financing — but all hope is not lost. National Business Capital & Services helps small and medium-sized businesses obtain financing from its network of more than 75 private lenders. The company applies a combination of technology and human expertise to match each business with the most appropriate lender for their needs. Businesses can apply through a fast and easy process in which a finance expert will assist them along the way. National Business Capital & Services also offers an array of business services, including payroll, HR, marketing, bookkeeping, and more.
As a bystander working on the consumer side of the mortgage industry, Joseph Camberato saw it happen time and time again — small business owners being turned down for financing by banks.
“After they were turned down, they would literally have no clue where to go,” Camberato said.
Camberato’s interest in the commercial side of the mortgage industry grew and, with that, his interest in helping the business owners being denied funding. As Camberato became more invested in helping small business owners secure lines of credit and finance equipment, he grew more familiar with the local entrepreneurs in his area.
“I went to one of my banks that had a commercial side and said, ‘Hey, I’ve got this deal — it’s a great restaurant and they need a credit line to finance some equipment,’ and they laughed at me,” he said. “They told me they don’t do restaurants and probably never will.”
But, during this otherwise fruitless interaction, Camberato gained a piece of information during that would change the trajectory of his career. The bank associate referred Camberato to a friend at a private lender.
“Long story short, I discovered that there was this whole world of private lending,” he said. “And, some of these private lenders are big institutions. Some of them are publicly traded and have hundreds of employees. And they really just focus on small business lending.”
Camberato also made another key discovery when he dove into the world of private lending.
“I really found that it was a complete mess,” he said. Each lender had different guidelines, many of the lenders didn’t work directly with the customers, and there was often way more paperwork involved than was necessary, just to name a few issues.
At this point, Camberato partnered with James Webster to create National Business Capital & Services. The duo — who serve as President and CEO respectively — set up shop in Camberato’s spare bedroom and began establishing relationships with the private lenders and then streamlining the whole lending process.
“I started eliminating all the unnecessary paperwork,” Camberato said. “And, then, I would work with the business owners and tell them what we needed from them, and I’d package it up and get it to the right person at the right lender.”
Camberato’s expertise in knowing which lender would be most likely to fund particular businesses often eliminated the need for business owners to shop around to several lenders, which can be exhausting, he said.
What started as a one-deal-at-a-time venture in 2007 has now grown to a thriving company with more than 100 employees over $1 billion in financing secured for thousands of business owners nationwide — and counting. National also helps build communities one small business loan at a time: for every business they fund, they donate 10 meals to Feeding America. As of the end of 2019, they’ve exceeded their goal of donating over 100,000 meals.
“We built this amazing company with a great culture and amazing people,” Camberato said. “And we continue to just respect and understand our small business owners and let them know we’re here to help them with financing.”
Each Business is Treated Individually to Match It with the Most Appropriate Lender
National Business Capital & Services clients can feel confident that the company is working to match their financing requests with appropriate lenders who are most inclined to approve the requests.
Camberato said, just as the bank told him they don’t finance restaurants, private lenders also tend to specialize in particular industries for various reasons.
“We just started organizing the information to learn which lenders like certain industries,” he said. “This lender loves restaurants, this other lender hates restaurants. This one loves construction projects, and another one can’t stand construction.”
Other lenders specialize in lending to clients in the medical field, like doctors or dentists, he said.
“As an industry leader since 2007, National Business Capital & Services understands that every business has its own story, with their own unique goals for growth,” according to the company. “National listens carefully to YOUR story before connecting you with a Global Marketplace of over 75+ Lenders to find the best financing options that help you accomplish your business goals.”
Because of the company’s extensive expertise and in-depth knowledge of the private lending world, it is now able to provide offerings such as its exclusive offering, the eQuickment Financing Product.
“National Business Capital & Services can help you obtain financing for virtually every type of equipment for any industry,” according to the eQuickment Financing description. “We work with a wide variety of business industries, including medical, construction, manufacturing, restaurants, retail, automotive and much more.”
Clients applying for the eQuickment Financing Product will receive an approval decision in under an hour and can receive funding in less than 48 hours.
With the eQuickment Financing Product, customers only need a minimum FICO score of 600 for purchases of $75,000 or less.
A Fast and Easy Application Process
Camberato said that, while he was learning about the world of private lending and its many inefficiencies, the application process was a major stumbling block in the process.
“It was just this massive issue where it wasn’t organized and a lot of lenders over-asked for documentation,” he said. If a borrower only needed a small sum, the business was often still required to provide as much documentation and fill out as much paperwork as businesses applying for much larger loans.
The company’s streamlined process now starts with a simple form that takes less than a minute to fill out. The client will then immediately be contacted by a National Business Capital & Services Business Financing Advisor to walk him or her through the rest of the application process.
Camberato emphasized the importance of retaining the human element in the application process.
“Our technology is helping us get the application to the right lender, but there are unique situations that come up and we have very smart people in our office that understand the lenders and guidelines,” he said. “They may be able to help increase the offer, or help overturn a decline, and they ensure that this application is going to the right lender and the client is getting one of the best deals out there.”
National Business Capital & Services narrows the potential lenders from its list of more than 75 partners and submits an application to the one it believes will be the best fit.
To apply for a small business loan through National Business Capital & Services, the company must have been in business for at least three months and make a minimum of $120,000 in gross annual sales. There’s no minimum credit score required.
“You don’t need to have squeaky-clean credit to qualify for a small business loan — we work with all credit profiles,” according to the company website.
The same qualifications apply for businesses that need to access a business line of credit.
An Array of Services Help Existing Businesses Boost Sales, Lower Costs, and Streamline Operations
After solidifying its reputation as a trusted source among private lenders and small businesses alike, Camberato said National Business Capital & Services decided to offer an array of other business services.
“We added these much-needed services that business owners need — payment processing, payroll, bookkeeping services, marketing, business credit repair,” Camberato said. “We understand and respect that a lot of business owners sacrifice their credit building their business so it was important to offer the business credit repair service.”
He said the company carefully evaluated the services businesses need to function successfully and offers them in a simple and streamlined manner.
“If you need marketing services, we can help you with pay-per-click, SEO, building your website, redesigning your website,” Camberato said. “If you’re ready to stop doing the payroll yourself, we’re bringing a payroll solution, and also a payment processing solution.”
Many of the services National Business Capital & Services offers not only alleviate operational burdens, but help save them money and drive revenue as well.
“Save 85% of the money used to run an entire bookkeeping staff, and use our all-in-one bookkeeping software instead,” according to the company website. “Our new bookkeeping software identifies transactions, verifies them, and keeps reports on everything!”
And, of course, many small businesses do not have the budget or labor pool in-house to devote to substantial marketing efforts. National Business Capital & Services helps those companies remain competitive in their markets.
“Allow our team of marketing experts to do all the work for you in positioning your business to land new customers, instead of your competitors,” according to the company. “Let our team of traditional and digital marketing experts create exciting, engaging and customer-first marketing campaigns tailored to gain traction with your target audience.”
National Business Capital & Services’ HR offerings similarly save companies time and money by handling benefits, compliance, training, and other important but time-intensive tasks.
So, whether you’re an entrepreneur in need of funding to take your business to the next level or you’re a business owner looking to offload services so you can focus more intently on your company’s mission, National Business Capital & Services is there to help.