| Takeaway | Details |
|---|---|
| ⚡ Fast Access to Capital | Berkman Financial focuses on quick approvals and fast funding, with some businesses receiving funds the same day. |
| 🏢 Company Overview | Berkman Financial is a New York–based alternative funding company headquartered in Staten Island, NY, serving small and medium-sized businesses nationwide. |
| 💼 Funding Options | The company offers merchant cash advances, business lines of credit, invoice financing, and equipment financing, with funding options up to $4 million. |
| 🔄 Revenue-Based Repayment | Merchant cash advances are a primary product, with daily or weekly payments tied to business revenue rather than fixed monthly installments. |
| 📋 Flexible Qualifications | Approval is based more on revenue and cash flow than credit score, making Berkman Financial accessible to businesses denied by traditional lenders. |
| 💬 Mixed Customer Reviews | Reviews highlight fast funding and helpful representatives, but also mention aggressive marketing, unsolicited contact, and concerns about costs. |
| ⚠️ Cost Transparency Considerations | Berkman Financial does not publish rate ranges, and alternative funding products may be more expensive than traditional small business loans. |
| ⭐ UCS Rating | United Capital Source rates Berkman Financial 3.8 out of 5 for speed and accessibility, with room for improvement in pricing transparency. |
Alternative business funders like Berkman Financial aim to help small and medium-sized businesses access capital quickly when traditional banks cannot approve funding or when approval takes too long. For many business owners, fast business funding can be the difference between meeting payroll, investing in growth, and missing key market opportunities. However, speed and convenience often come with trade-offs, so it’s essential to carefully review any alternative business lending option before committing to a funding agreement.
Evaluating factors such as cost, repayment structure, qualifications, and overall reputation can help business owners protect their accounts, cash flow, and long-term success. Understanding how alternative funding works also allows owners to compare options more accurately and determine whether a solution truly fits their business reality.
In this review, we explain how Berkman Financial works, including the available options, pros and cons, and the application process, to help you decide if it’s right for your needs. Specifically, we’ll answer these questions and more:
Berkman Financial is a business funding company offering alternative financing solutions for small and medium-sized businesses that may not qualify for traditional business loans. The company positions itself as a resource for business owners seeking fast, flexible funding options without the lengthy approval timelines associated with banks.
Berkman Financial offers business loans and financing solutions for small and medium-sized businesses. The company focuses on providing access to capital through a variety of non-bank financial products, often emphasizing speed, convenience, and personalized support throughout the funding process. Berkman Financial offers fast approval and same-day funding for businesses, which can be especially appealing to owners facing urgent cash-flow needs.
The company is headquartered in Staten Island, New York. It markets itself as committed to helping business owners understand their funding options, submit the necessary documents, and move forward with solutions that allow their companies to grow and thrive. Its services are available to businesses across many industries in the United States.
Berkman Financial connects businesses with alternative funding products based on their revenue, cash flow, and operational history, rather than relying solely on traditional credit metrics. The process typically begins with a short small business loan application, followed by a review of financial documents such as bank statements. Once reviewed, Berkman Financial presents potential funding offers and helps guide the business through closing.
Berkman Financial offers alternative, unsecured business funding options. The company’s funding solutions include business loans, lines of credit, and merchant cash advances. Each product is structured differently, with repayment terms tied to revenue, invoices, or monthly payments, depending on the financing type selected.
A core product offered by Berkman Financial is the merchant cash advance, also referred to as a revenue-based or MCA loan. With this type of funding, a business receives a lump-sum payment upfront in exchange for a share of its future sales. Repayment is typically made through daily or weekly payments that vary with revenue.
Business cash advance products are often used by businesses that need fast funding and may have limited credit history or recent credit challenges. While approval can be completed in hours and funding may arrive within days, merchant cash advances can carry higher overall costs than traditional loans. Understanding the factor rate, total repayment amount, and impact on daily cash flow is essential before moving forward.
Berkman Financial offers lines of credit that allow businesses to draw funds up to a specific limit. A revolving line of credit provides flexible access to capital, allowing owners to draw funds as needed rather than receiving a single lump sum.
This option can help manage ongoing expenses, cover short-term gaps, or handle unexpected costs. Interest or fees are typically charged only on the amount drawn, making it a potentially efficient tool for businesses with fluctuating cash flow.
Invoice financing, also known as invoice factoring, is a service provided by Berkman Financial that enables businesses to borrow funds against customer invoices. Instead of waiting weeks or longer for customers to pay, companies can access a portion of the invoice value upfront.
Once the customer pays the invoice, the remaining balance is released to the business, minus fees. B2B companies that experience delayed payments but have reliable clients typically use invoice financing.
Berkman Financial provides equipment financing solutions to help businesses grow and operate smoothly. Equipment financing allows companies to purchase or lease machinery, vehicles, or other essential equipment while spreading payments over time.
This option can preserve working capital and align payments with the equipment’s useful life, making it a practical choice for businesses looking to invest in operations without a high upfront cost. Examples include office, factory, and construction equipment.
Berkman Financial does not publish a minimum business loan credit score requirement and states it can provide working capital funding for bad-credit borrowers. The only minimum qualifications it publishes are:
Applicants typically provide recent bank statements, basic business information, and identification documents. Specific requirements may vary by funding product, requested amount, and industry.
Berkman Financial states that it typically conducts a soft credit pull during the initial review process, which does not impact credit scores. It does not clearly state whether repayment activity is reported to the credit bureaus, which may limit the ability to build business credit.
Merchant cash advances appear to be a primary offering. Unlike traditional business loans with fixed interest rates and terms, merchant cash advances are structured around factor rates and revenue-based payments. While this can provide flexibility during slower weeks, it can also result in higher overall costs and strain on daily cash flow.
The company does not publish detailed rate ranges or fee structures, making it harder to compare offers with those of other business funders. Alternative funding products like merchant cash advances and invoice financing can be significantly more expensive than bank loans, particularly over longer repayment periods.
Berkman Financial’s services focus on speed and flexibility, particularly beneficial for businesses with fluctuating revenue. Berkman Financial actively secures funding for businesses, leading to better pricing and faster closing times.
Overall, online reviews suggest a mixed reputation. Some clients have described Berkman Financial as a ‘lifesaver’ for securing funding when traditional banks have denied them. In contrast, others report dissatisfaction with aggressive, spammy marketing tactics and high-pressure sales.
Berkman Financial offers a business funding affiliate program. ISOs and business loan brokers can sign up on the company’s website.
Berkman Financial promotes a streamlined online business loan application process that moves quickly from inquiry to funding.
Business owners start by completing a short online form with basic information about their business, funding needs, and contact details.
Applicants are typically asked to submit recent bank statements and other relevant documents so the company can evaluate revenue and cash flow.
After review, Berkman Financial presents available funding options and explains repayment structures and timelines.
Once an offer is accepted, funding can be completed in as little as hours or within a few business days.
Repayment terms vary by product. Merchant cash advances generally require daily or weekly payments tied to revenue. Invoice financing is repaid when customers pay outstanding invoices, while equipment financing typically involves fixed monthly payments.
Berkman Financial does not publicly disclose information about prepayment penalties or early payoff discounts. The company states that renewals may be available, but it does not provide detailed guidance on timing or requirements.
Careful review of the funding agreement is critical. Business owners should fully understand payment schedules, total repayment amounts, renewal options, and any potential cost-saving opportunities before signing.
Berkman Financial offers fast access to funding, flexible approval criteria, and multiple alternative financing options. Businesses that need emergency business loans or have been denied by banks may find the process efficient and supportive, with representatives available to answer questions and guide applicants through each step.
The lack of published rates and cost transparency can make comparison shopping difficult. Merchant cash advances and similar products may carry high costs, and some users report concerns about aggressive outreach and communication practices.
Pros
Cons
Berkman Financial is a legitimate business funding company operating in New York. Berkman Financial has a Better Business Bureau (BBB) accreditation with an A+ rating.
The company maintains an online presence, provides contact information, and has verifiable reviews across multiple platforms, which support its legitimacy. Berkman Financial is located at 4288 Arthur Kill Rd, Staten Island, NY, 10309, United States. It also has a secondary address at 40 Exchange Pl Ste 600, New York City, NY.
Overall, Berkman Financial reviews are mixed, with a 3.7/5 rating based on 60 Google reviews. Feedback often centers on funding speed, communication style, and cost.
Positive reviews frequently highlight fast funding, courteous representatives, and professional support. Some client reviews praise specific associates for their professionalism and helpfulness.
Negative reviews raise concerns about aggressive sales tactics, unsolicited outreach, and high costs. Some reviews describe Berkman Financial as a scam, and customers have reported receiving unsolicited texts from the company.
Berkman Financial may decline an application for various reasons, such as failure to meet its time-in-business or revenue requirements. If the company declines your application, it should provide a written notice explaining why. If not, or if you require more information, contact Berkman Financial directly.
Fortunately, small business owners have many lender options to consider. Several online lenders offer similar financing options, with larger borrowing amounts and more transparent costs.
Working with a small business loan marketplace (like UCS) allows you to apply to a network of lenders with a single application and receive multiple offers. You can then get guided support in choosing the best deal for your business.
You may be interested in one of the following small business loans:
Berkman Financial positions itself as a fast-moving alternative funding company that helps small and medium-sized businesses access capital when traditional small business loans are unavailable or take too long to process. With products such as merchant cash advances, a business line of credit, invoice financing, and equipment financing, the company aims to serve businesses that need funding quickly, value flexibility, and are willing to work with non-bank financial solutions.
Berkman Financial may be a good fit for business owners who prioritize speed, have consistent revenue, and understand the reality of alternative funding structures—particularly revenue-based payments tied to cash flow. Businesses that banks have denied, need money in hours or weeks rather than months, or are trying to grow, invest, or finally stabilize operations, may find value in what the company offers. Support from representatives who explain options and help move the process along is frequently cited by users as a positive.
On the other hand, highly cost-sensitive businesses that want long-term financing with clearly defined interest rates or prefer complete upfront transparency may wish to consider other options. The lack of published pricing, the potential cost of a merchant cash advance, and mixed reviews related to marketing practices are important factors to weigh carefully. Taking time to review documents, understand payments, and compare offers across the market is essential before committing.
Based on the available information, we rate Berkman Financial 3.8 out of 5. It’s a solid option for quick funding, but it could use more transparency on costs.
Disclaimer: The Berkman Financial trademark is owned by Berkman Funding, LLC, and its use herein is for reference purposes only, and it does not indicate sponsorship or endorsement from Berkman Funding, LLC.
