Securing the right financing is crucial for any small business. Whether you’re looking for a quick cash boost or long-term growth funding, choosing the right lender matters. In this comparison, we’ll look at Newtek and Capital Express, two popular lenders offering small business loans. Let’s explore their offerings to help you make the right choice for your business.Learn more about Capital Express’s financing options here.
Newtek Loans Overview
Newtek is well-known for offering a variety of loan products, including SBA loans and term loans. They cater to businesses seeking larger sums and long-term funding.
Product Types:
SBA Loans
Term Loans
Lines of Credit
Features:
Newtek has a solid reputation in the industry and offers competitive rates for businesses that qualify. Their loans tend to be larger and require more paperwork.
Pros:
Established brand
Access to larger loan amounts
Strong reputation for SBA loans
Cons:
Longer processing times
More stringent eligibility requirements
Capital Express Loans Overview
Capital Express takes a different approach, focusing on fast approvals and personalized financing. If your business has fluctuating cash flow or needs fast access to capital, Capital Express could be a better fit.
Product Types:
Revenue-Based Financing
Merchant Cash Advances (MCAs)
Features:
Capital Express offers flexible funding options, with quick approval times and repayment based on your business’s revenue, making it easier for companies with variable cash flow.
Pros:
Fast approval and funding
Flexible repayment terms
Personalized customer service
Cons:
Smaller loan amounts
Limited to certain business types (primarily service-based businesses)
For a deep dive into Capital Express’s loan products, visit our Revenue-Based Financing page.
Key Differences
Speed:
Capital Express shines with quick approvals, often providing funds within hours, while Newtek can take days or weeks due to more extensive documentation and underwriting processes.
Flexibility:
Capital Express offers revenue-based financing, where repayments are tied to your sales, giving your business more flexibility during slow months. Newtek’s loans tend to have fixed payments, which might be difficult to manage if your business sees income fluctuations.
Personalization:
Capital Express is known for its personalized service, guiding businesses through the application process and tailoring loan terms to suit individual needs. Newtek, being a larger entity, might not offer the same level of one-on-one attention.
Which One’s Right for You?
When deciding between Newtek and Capital Express, consider your business’s needs:
If you require a large sum and have a stable cash flow, Newtek might be the better option.
If speed, flexibility, and personalized service are more important, Capital Express could be a better fit. You can start your application for Merchant Cash Advances here.
Assess your financial situation, growth goals, and loan needs carefully to determine the best fit.
Conclusion
Choosing the right lender is key to your business’s financial success. While Newtek offers large loans with longer approval times, Capital Express provides fast, flexible funding with a more personal touch. Ready to explore your financing options? VisitCapital Express today to learn more.
Revenue Based Financing & Business Loan | Capital Express LLC
We provide revenue-based financing, unsecured business loans, and merchant cash advance solutions for small businesses and startups.
