| Takeaway | Details |
|---|---|
| š¢ What First Union Lending Is | First Union Lending is a Florida-based business financing company that operates as both a licensed lender and a broker, connecting small business owners with a range of funding options. |
| ā” Funding Speed & Process | The company emphasizes a streamlined online application process, soft credit inquiries, and fast loan approvals, with some funds deposited within one to two business days. |
| š¼ Loan Products Offered | First Union Lending provides business term loans, SBA loans, lines of credit, equipment financing, invoice factoring, and microloans ranging from $5,000 to $10 million. |
| š Basic Qualifications | Applicants generally need a credit score of at least 600, at least six months in business, $20,000 in monthly bank deposits, and a U.S.-based company. |
| š° Cost Transparency | Rates and total loan costs are not publicly disclosed, and some funding products may carry higher interest rates than those of traditional banks or SBA loans. |
| š Customer Experience Highlights | Many reviews praise prompt, professional assistance, excellent customer service, and personalized support from funding specialists throughout the process. |
| ā ļø Common Concerns & Complaints | Negative reviews cite limited transparency, brokered loans presented as direct lending, multiple credit inquiries, and issues supplying loan documentation. |
| ā UCS Rating | United Capital Source rates First Union Lending 3.9 out of 5 for its diverse loan offerings and fast access to capital, offset by a lack of cost transparency. |
Traditional banks and other financial institutions often require extensive documentation, excellent credit profiles, and lengthy underwriting timelines before approving business loans. For many small business owners, these hurdles can make accessing capital difficultāespecially when cash flow needs are immediate. As a result, many businesses turn to alternative lenders that operate through digital platforms and streamlined online business loans to provide faster access to capital.
Companies like First Union Lending position themselves as providers of financial solutions, offering fast business loans. While faster approvals and faster loan decisions can be appealing, business owners should still evaluate any lender carefully. Interest rates, repayment structures, transparency, and online reviews all play a role in determining whether a funding option is appropriate. Comparing First Union Lending to traditional banks and other online lenders can help ensure business owners sign loan documents with confidence and at their own risk.
In this review, we’ll explore how First Union Lending works to help you decide if its financing options are right for your business needs. Specifically, we’ll answer these questions and more:
First Union Lending is an alternative business lending company that provides capital to small business owners. The company markets itself as a licensed lender while also operating as a broker that connects businesses with actual lenders. First Union Lending focuses on providing rapid financing solutions for small and medium-sized enterprises.
First Union Lending was established in 2010 and is based in Orlando, Florida. The company states that it has facilitated billions in funding across multiple loans for business owners nationwide. Its mission is to help business applicants access capital through a simplified process compared to traditional banks and other financial institutions.
First Union Lending offers various types of business loans to meet the needs of small business owners. Its loans range from $5,000 to $10 million.
The process typically begins with an online form that gathers information about revenue, time in business, and credit profile. From there, a funding specialist may contact the applicant to discuss financial solutions, potential rates, and loan structure before the loan is approved and the loan documents are issued.
A business term loan provides borrowers with a lump-sum cash advance in exchange for specific repayment terms. These loans are often used for cash infusion, business expansion, or covering significant expenses, and repayment is usually fixed or variable based on the structure selected.
First Union Lending’s term loans can be structured with daily, weekly, monthly, or yearly payments, and may include fixed or floating interest rates to suit a business’s cash flow needs. Term loans can range from short-term business loans to long-term financing and are commonly used for working capital, equipment purchases, real estate, hiring staff, or refinancing existing debt.
SBA loans are small business loans offered through banks and other SBA lenders and are partially guaranteed by the U.S. Small Business Administration. Because of this government guarantee, SBA loans typically provide competitive interest rates, longer repayment terms, and greater flexibility than many online alternatives.
First Union Lending works with multiple SBA programs, including SBA 7(a), 504, and microloan options, each designed for specific business needs such as working capital, equipment financing, commercial real estate, and disaster relief. SBA loans usually require more documentation and underwriting time, but can provide lower-cost financing with terms up to 25 years.
A business line of credit allows companies to access funds as needed up to a predetermined limit, with interest charged only on the amount drawn, not the total credit line. Revolving lines of credit help businesses manage cash flow gaps, seasonal expenses, and unexpected costs without paying a lump sum upfront. Lines of credit may be secured or unsecured, depending on the lender and the applicant’s creditworthiness, and can serve as a safety net for fluctuating financial needs.
Equipment loans are tailored specifically for the purchase of business-critical machinery and tools, including office equipment, vehicles, industrial machinery, medical devices, and specialized production systems. The equipment itself often serves as collateral, which can help lower lenders’ risk and reduce financing costs for borrowers. First Union Lending’s equipment financing options match the loan size and term to the equipment’s useful life, making it easier for businesses to pay for assets over time as they generate value.
Invoice factoring enables businessesāespecially B2B companiesāto convert unpaid invoices into immediate cash by selling them to a factoring company at a discount. Instead of waiting 30, 60, or 90+ days for customers to pay, business owners receive a large percentage of the invoice value upfront, which can be used to meet payroll, pay suppliers, or cover other operational needs. The factoring provider then collects payment from the customer and remits the remainder to the business, minus fees.
Microloans are typically defined as loans of $50,000 or less and are ideal for small business owners who need smaller amounts of capital that traditional lenders may not provide. These loans can serve a variety of purposes, such as purchasing inventory, covering short-term expenses, or funding specific operational needs. Microloan programs may also serve targeted groupsāsuch as startups, minority entrepreneurs, or businesses in underserved marketsāmaking them accessible to applicants with limited credit history or a shorter time in business.
In addition to small business loans, First Union Lending also offers:
Credit Card Processing: First Union Lending offers business credit card processing solutions designed to streamline payment acceptance across point-of-sale systems and online channels. Their AI-enhanced tools improve operational efficiency, reduce processing costs, and enhance customer support and transaction reporting.
Amortized Loan Calculator: The Amortized Loan Calculator tool helps business owners estimate payment schedules based on loan amount, interest rate, and term. This resource provides transparency into monthly payments and total cost over time, aiding in financial planning and comparisons among different financing options.
Articles (Business Finance Resources): First Union Lending maintains a library of educational content and articles covering business finance topicsāsuch as how to get loans, industry-specific funding considerations, and strategic guidance for managing growth. These resources aim to help business owners make informed decisions throughout the funding process.
First Union Lending publishes general qualification guidelines rather than strict underwriting rules. Eligibility criteria for First Union Lending include a minimum credit score of 600 and at least six months in business.
Additional requirements include at least $20,000 in monthly bank deposits, U.S.-based operations, and a valid business checking account. Approval ultimately depends on the lender’s underwriting and the applicant’s credit report, cash flow, and overall financial profile.
First Union Lending operates as a dually licensed lender and broker in Florida, meaning it may fund some loans directly and broker others to third-party lenders. The company states that applying does not affect credit, suggesting that soft pulls are used during the initial evaluation. However, some First Union Lending reviews indicate multiple hard inquiries when applications are submitted to various lenders, which could affect a credit report.
The company does not clearly disclose whether it reports payment activity to business credit bureaus. Business owners focused on building credit should confirm this directly before signing loan documents. First Union Lending’s funding products may carry higher costs than those of traditional banks, and the lack of published rate ranges makes it challenging to compare business loan interest rates and total costs with those of other financial institutions. SBA loan options typically offer lower interest but longer approval timelines.
Overall, online reviews are mixed. Many customers report that the loan process with First Union Lending is quick and straightforward. Customers appreciate the personalized attention they receive from First Union Lending representatives, making them feel valued. At the same time, First Union Lending has been accused of misleading marketing practices, claiming to be a lender while actually brokering loans to other lenders. Some users have reported that First Union Lending’s practices have led to lower credit scores due to multiple hard inquiries from various lenders.
There are concerns about the legitimacy of First Union Lending’s online reviews, with some suggesting that many positive reviews may be fake or manipulated, including claims that they left shill reviews across multiple Google reviews. First Union Lending has been reported for failing to follow standard procedures in supplying loan documentation to clients after loan agreements are signed.
Complaints have been filed against First Union Lending with regulatory bodies, including the State of Florida Office of Financial Regulation (OFR), the Florida Department of State, and the Federal Trade Commission. Some reviewers advised filing complaints and cited numerous red flags, misleading website language, and other concerns about online advertising.
First Union Lending does not publish information about a business loan affiliate program on its website. ISOs and business loan brokers can contact the company directly to discuss potential partnerships, but may need to find an alternative lender.
First Union Lending simplifies the small business loan application process through an online intake system and direct communication with funding specialists.
Business owners submit basic information about revenue, time in business, and funding needs through the website.
A representative may contact applicants to review options, verify details, and discuss potential financial solutions.
If a loan is approved, applicants receive offers outlining rates, terms, and repayment schedules before they sign loan documents.
Once loan documents are finalized, funds are typically deposited quickly, and the loan funding timeline can be as short as one to two business days.
After funding, repayment terms depend on the product selected. Term loans, equipment financing, and SBA loans generally require monthly payments, while a line of credit may have weekly or monthly payment structures. Invoice factoring is repaid when customers pay their invoices.
Specific details regarding payment methods, prepayment penalties, early payoff discounts, and renewal options are not clearly disclosed. Business owners should carefully review loan documentation to understand obligations, renewal terms, and whether prepaying early yields savings. Reviewing funding agreements closely helps avoid surprises related to interest, fees, and repayment risk.
First Union Lending offers access to capital for business owners who may not qualify for traditional bank loans. The company offers multiple loan options, fast approvals, and personalized service, which many customers describe as prompt and professional. Positive reviews frequently mention excellent customer service, highly professional representatives, and a sense of trust throughout the application process.
Disadvantages include limited transparency around rates, interest, and total loan costs. Negative reviews cite misleading website claims, broker loans presented as direct lending, and concerns over fake reviews. Some business owners left negative reviews citing communication issues, difficulty obtaining loan documentation, and problems involving financial regulations and compliance.
Pros
Cons
First Union Lending is a legitimate business funding company that operates as a licensed lender and broker. First Union Lending maintains an A+ rating with the Better Business Bureau. First Union Lending’s domain has been registered for 8 years, indicating a well-established online presence and suggesting some level of trustworthiness. However, legitimacy does not eliminate the need for careful review of loan documents and understanding broker relationships.
Online reviews for First Union Lending are mixed across Trustpilot, Google reviews, and other review platforms. Overall sentiment reflects both intense service experiences and notable complaints. First Union Lending has a customer satisfaction rating of 4.1 out of 5 on Trustpilot.
Positive reviews emphasize excellent service, fantastic interactions, prompt communication, and that funding specialist Tanya guided applicants through the process. Several reviewers note that loans helped businesses survive difficult periods, including the COVID-19 pandemic, and praise the company for its excellent execution and support.
Negative reviews of First Union Lending often cite communication gaps, lack of transparency, high interest rates, and issues with loan documentation. Some customers cite misleading marketing, underwriter confusion, and concerns about multiple Google reviews and shill reviews.
First Union Lending may deny a loan application for various reasons, such as poor credit or insufficient income. In addition, insufficient established business history or inconsistent cash flow may result in a denial.
If declined, the lender should provide a written explanation. If not, or if you require more information, contact First Union Lending directly.
Fortunately, small business owners have a range of lender options to consider. Many lenders offer similar loan products.
Working with a small business loan marketplace like United Capital Source lets you apply to a network of lenders through a single application. 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:
First Union Lending may appeal to small business owners seeking fast cash infusion, flexible loan options, and access to capital outside traditional banks. Businesses needing SBA loan products or quick turnaround funding may find value in its services. However, companies that prioritize low interest, full-rate transparency, and direct relationships with lenders may prefer other financial institutions.
Based on the available information, we rate First Union Lending 3.9 out of 5. It’s a reasonable funding option with a diverse small business loan line, but it lacks transparency into costs.
Disclaimer: The First Union Lending trademark is owned by First Union Lending, LLC, and its use herein is for reference purposes only, and it does not indicate sponsorship or endorsement from First Union Lending, LLC.
