Everest Business Funding Review
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Table of Contents
- About Everest Business Funding
- Everest Business Funding Merchant Cash Advances
- Everest Business Funding Lending Experience
- The Pros
- The Cons
- Everest Business Funding Requirements
- Final Say: Everest Business Funding Reviews
Everest Business Funding is a Florida-based company that addresses the working capital needs of small businesses through merchant cash advances (MCAs). The company prides itself on a stress-free application and funding process, as they provide advances based on daily cash flow as opposed to credit history.
Since it was founded in 2013, Everest Business Funding has helped fund thousands of businesses, both big and small.
Consider Everest Business Funding if you:
Need consistent cash flow during low seasons
Require funding in 24 hours
Have a poor credit score and don’t qualify for other loan options
Everest Business Funding Merchant Cash Advances
Everest Business Funding provides cash advances to small business owners so they can get consistent access to working capital even in times of cash crunches. After approval, you can get funding in as quickly as 24 hours. This makes their MCA perfect for those who urgently need funds.
You’ll be able to use these funds to finance your business growth — whether it’s for marketing campaigns, buying inventory, upgrading equipment, renovating your office or hiring and training staff.
The company provides advances ranging from $5,000 to $1 million, with funding amounts based on your daily cash flow and monthly revenue. This means that larger revenue can qualify you for larger funding sizes, regardless of your credit history. However, the company doesn’t advertise its average rates or repayment periods and they did not respond to requests for comment.
The merchant cash advances from Everest Business Funding may be an excellent choice if you need flexible funding solutions based on your revenue.
- Access to funds in 24 hours after approval
- Funding amount based on your daily cash flow
- Funding sizes ranging from $5,000 to $1 million
- Zero application fees
Everest Business Funding Lending Experience
Everest Business Funding works with businesses in a wide range of industries — from health care and trade to service and food and beverage. They even work with seasonal businesses such as accounting services and bridal wear shops.
According to a statement on their website, Everest Business Funding believes that with the right financial assistance, anyone can find success in what they do. That’s why their main consideration when funding your business is your monthly revenue and daily cash flow, rather than your credit score. They will work out a deal that benefits both parties based on your daily sales.
Due to their flexible requirements, the company also boasts of a higher approval rate than other small business lenders. Their website states they approve 95% of all businesses that apply for funding through the company. This means you have a good chance of getting approved even if you don’t have a good credit score and you don’t qualify for other funding solutions.
Based on this high approval rate, you should go for Everest Business Funding if you want assured approval and funding within 24 hours.
Everest Business Funding Pros
- They have a quick and easy online application that takes just a few minutes to complete and requires only some basic personal and business information.
- Once approved, you’ll get funding in as quickly as 24 hours, making it a great option for those who urgently require funds.
- They have flexible funding sizes ranging between $5,000 and $1 million.
- Their funding amount is customized for each business based on daily cash flow and monthly revenue. The larger your revenue, the better your chance of qualifying for larger advances.
- Their eligibility terms are more flexible than most lenders, factoring in only your average monthly revenue. They do not consider your credit history or time in business to qualify you for funding.
- They have some of the highest approval rates, approving 95% of all businesses that apply for funding.
Everest Business Funding Cons
- Their borrowing terms are opaque, with little to no information about average borrowing fees or repayment periods.
- There are no alternate funding products other than MCAs. If you need term loans or other types of funding solutions, Everest Business Funding may not be the best choice.
- There is no transparency about what documents you need to apply for funding.
Everest Business Funding Requirements
- Must be owned and operated in the United States
- At least $4,000 in monthly revenue
Everest Business Funding Application: What You Need to Apply
- Basic personal and contact information
- Basic information about your business such as business name and average monthly revenue
- Required funding amount and how soon you need it
- Additional document requirements may vary for each business
Final Say: Everest Business Funding Reviews
Most customers report a high satisfaction rate from working with the Everest Business Funding team. The company has a 4.3 Trustscore on Trustpilot and an A rating on the Better Business Bureau. Their high approval rates and flexible eligibility terms make them perfect for business owners with poor credit.
However, borrowers should be cautious before finalizing their deal because their borrowing terms and fees are far from transparent. There’s no information about average fees and repayment terms on their website, and the company did not respond to requests for comment.