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InterNex Capital Review

InterNex Capital LLC, founded in 2015, provides revolving lines of credit from $250,000 to $10 million to small and midsize businesses. The funding lines are an excellent solution for companies that generate revenue of at least $1 million a year, with competitive financing rates and no credit score requirements. However, the financing isn't geared toward very small companies or new startups.

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Consider InterNex if you:

  • Have been in business for at least 2 years, according to third-party reviewers
  • Are generating at least $1 million in annual revenue
  • Have a moderate or low credit score and can’t qualify for other financing options

InterNex Capital Revolving Lines of Credit

InterNex finances businesses by offering revolving lines of credit. Similar to a credit card, this is a credit line that you can spend up to a set limit. The credit line is “revolving” in the sense that after you pay back an amount you borrow, you can borrow from the line again, up to your credit limit.

InterNex bases the amount you are allowed to borrow at one time on your accounts receivable, with unpaid invoices you are owed effectively serving as collateral. Your credit limit will be set at 70% to 85% of your accounts receivable at the time you apply, according to two third-party reviewers.

Note that no matter what your credit limit is, the amount you’ll be allowed to withdraw at any given time can’t exceed your accounts receivable. For instance, if your credit limit is $500,000 but you have $350,000 coming in accounts receivable, you can withdraw $350,000 at that time.

InterNex lines of credit feature:

  • Lines from $250,000 to $10 million
  • 12-month terms, with an option to renew
  • Annual interest rates of less than 18% (with rates as low as 7.99%, according to third-party reviewers)

In addition, third-party reviewers claim InterNex lines of credit feature:

  • Origination fees of 2.25% to 4%
  • Draw fees when you draw on your line of credit
  • Unused line fees if you don’t use at least 50% of your line of credit
  • Renewal fees if you renew your line of credit

InterNex Capital Lending Experience

The InterNex financing process involves 4 main steps:

  • Apply online by filling out a form that takes a few minutes
  • Receive approval within 3 business days
  • Sign an electronic agreement to the terms of your revolving line of credit
  • Log into your online portal to make your first credit withdrawal

Applying doesn’t cost a fee. During the application process, you will need to supply basic information about your company’s finances. If you need assistance, customer service is available via telephone or email support.

The total time from application to funding typically takes 4 to 7 days. After you’re approved, you’ll have access to an online portal where you can monitor the progress of your debt repayments.

InterNex Capital Pros

InterNex represents a sound financing resource for companies that qualify. Pros include:

  • Large lines of credit available
  • Low annual interest rates
  • Willingness to work with business owners with low personal credit scores (provided you have sufficient income)

InterNex is a good solution for companies that are generating good revenue but are struggling to manage cash flow. InterNex financing works well for companies in industries such as:

  • Wholesale
  • Manufacturing
  • Advertising
  • Transportation
  • Business services
  • Staffing

For companies in these industries, an InterNex revolving line of credit can assist with:

Customers providing InterNex Capital reviews on TrustPilot give unanimous positive feedback.

InterNex Capital Cons

While InterNex can be a good resource for companies that meet the lender’s minimum requirements, it isn’t geared toward the needs of smaller companies that fall below this threshold. If you aren’t generating at least $1 million of gross revenue a year, InterNex won’t meet your financing needs.

While InterNex has good interest rates, its additional fees are a drawback. These additional fees include:

  • Origination fees
  • Draw fees
  • Unused line fees
  • Renewal fees

InterNex Capital Requirements

To qualify for InterNex funding, you need:

  • Time in Business 2+ Years
  • Annual Revenue $1M-$50M
  • Personal Credit Score Not Required

InterNex Capital Application: What You Need to Apply

To apply for an InterNex revolving line of credit, you will need:

  • Bank statements to verify income
  • Profit and loss statements
  • Balance statements
  • A report listing your unpaid invoices (accounts receivable aging report)

Final Say: InterNex Capital Reviews

For companies that are earning $1 million of revenue a year, InterNex Capital funding can prove useful, particularly for businesses that have high revenue but struggle with cash flow or low credit ratings.

Companies earning less than $1 million a year might consider seeking InterNex Capital alternatives.

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