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Marlin Capital Solutions: Pros, Cons, & How to Apply

Marlin Capital Solutions (now PEAC Solutions) is a nationwide financing provider for business equipment and working capital. Like any lender, the company has its upsides and downsides.

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If you’re considering a loan with Marlin Capital Solutions, we can help guide you with answers to these questions:

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    What is Marlin Capital Solutions?

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    Marlin Capital Solutions is a financing company offering lending solutions for small businesses. Marlin specializes in equipment finance solutions and working capital loans.

    Marlin Business Services Corp Origins

    The company is based out of Mount Laurel, NJ. It was initially under the Marlin Business Services Corp. and received its financing from the subsidiary Marlin Business Bank. The company went public in 2003.

    Rebranding as PEAC Solutions

    The global investment firm HPS Investment Partners acquired the company in July 2022. HPS is in the process of rebranding Marlin as PEAC Solutions.

    What Loan Products are Available with Marlin Capital?

    The company offers two main products to small businesses.

    Equipment Financing

    offices, business, computer, new office furniture

    Small business owners can purchase or lease equipment. The company primarily offers small-ticket financing for equipment between $5,000 and $250,000. Down payments range from zero down to 15% of the purchase price.

    The financing terms run between 12 and 60 months. When approved, the company sends the funds to the equipment vendor. The equipment is then installed so you can start using it right away.

    The borrower makes regular payments until the loan amount, plus interest and fees, are repaid in full. Leasing equipment is essentially a form of renting. Depending on the type of lease, you can purchase the equipment at the end of the term for either $1 or the fair market value.

    Equipment Examples:

    • Office furniture.
    • Computers and printers.
    • Industrial kitchen appliances.
    • Manufacturing equipment.
    • Telecom equipment.
    • Security system and surveillance technology.
    • Construction and heavy machinery.

    Working Capital

    meeting, business, architect, employees working, excellent job

    This type of loan provides an influx of funds to cover everyday expenses and any cash flow shortages. Marlin offers loans ranging between $5,000 and $500,000.

    Working capital loans are considered short-term financing, and the company offers repayment terms between 6 and 24 months. It doesn’t charge origination fees on this type of loan.

    Companies can use the funds to:

    • Fund marketing campaigns and initiatives.
    • Reduce accounts payable liability.
    • Invest in technology services.
    • Expand the company.
    • Consolidate or refinance business debt.
    • Purchase new inventory.

    What are the Qualifications for Marlin Capital?

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    Marlin Capital Solutions doesn’t publish the qualifications for either product. The website does indicate startups are eligible for special equipment financing up to $20,000 but doesn’t list any working capital financing for startups.

    Annual Revenue and Time in Business

    According to one review, businesses need at least two years in business and annual revenue of $800,000 for working capital loans up to $150,000 and revenue of $2 million for loans over $150,000. But we couldn’t confirm these numbers on the company’s website.

    For Marlin Capital Solutions, You Need to Know That:

    office, startup, taking notes, personal touch

    The company doesn’t publish interest rates or fees, making it difficult to compare with other lenders. The only way to find your loan’s total cost is to apply and receive an offer letter. However, most reviews and estimates suggest the company’s interest rates are competitive with similar lenders.

    It might charge additional loan fees, but it depends on the amount you borrow and your credit. Again, the only way to find out is to apply.

    The company provides payment calculator tools to approximate your repayments. It also provides a Section 179 calculator to see your potential tax savings using Section 179 deduction for business equipment purchases.

    The funding process is generally fast. You can receive the funds for a working capital loan in 2-3 business days. When you finance equipment, the funds go to the equipment dealer within 24 hours of approval. It’s possible to finance used and new equipment.

    While the company doesn’t publish minimum requirements for credit approval, most estimates suggest businesses need at least two years at the current ownership and high annual revenue. These requirements likely disqualify some small businesses.

    During the equipment financing period, the company owns the title to your equipment. As such, it’s charged taxes as the legal title holder, but then the company bills you for the tax amount. Determine the tax payments when applying for equipment financing.

    The company provides all financing online. The entire loan process is online and doesn’t require paperwork.

    How to Apply to Marlin Capital Solutions:

    application, keyboard, apply now

    When seeking financing for equipment or working capital, the process starts with completing a simple online application.

    Step 1: Apply

    You can apply for Marlin Cap Solutions through United Capital Source. It only takes a few minutes to complete our simple one-page online application.

    After applying, one of our account executives will reach out to help complete the credit application with Marlin Capital Solutions. You’ll likely need to provide bank statements.

    Step 2: Get Approved

    The company’s underwriting team completes the review process quickly. For equipment financing, you’ll receive the determination within a few hours. The company completes working capital requests within 2-3 business days.

    Step 3: Get Funded & Grow Your Business

    Once you receive pre-approval for equipment financing, you can shop for the necessary pieces. The vendor gets the funds for an equipment purchase within 24 hours.

    For working capital, you’ll receive the funds via an ACH transfer within 2-3 business days after approval.

    Marlin Capital Solutions Post-Funding:

    calculator, pay, receipt

    Repayments are processed via an ACH transfer from your business bank account. Ensure you meet the automatic monthly payments.

    It is possible to defer your equipment finance payments for 30, 60, or 90 days if your application passes the final credit review. Deferred payments give you extra time to ensure your cash flow can handle repayments.

    The company charges late fees for missed payments. Making your required payments is essential to keeping the cost of the loan manageable and protecting your business credit. The company only reports to credit bureaus if there is a default.

    After paying off 50% of your working capital loan, you can apply for additional funds or financing. The company doesn’t publish information about prepayment penalties, but you can contact the company to get a payoff quote.

    What are the Advantages of Marlin Capital Solutions?

    traffic light, signal, traffic

    The company (now PEAC Solutions) is a leader in equipment financing and working capital loans. The company is well-established, meaning you get a trusted lending partner.

    While it doesn’t publish interest rates, most estimates and reports suggest it offers premium prices and rates. Since it also provides flexible repayment terms, it is considered an affordable option for financing.

    The company also has a good reputation for customer service. Many business owners comment that the customer service team provides reliable advice.

    One of the most significant advantages is the simplified application process and fast funding time. The company makes it easy to apply for funding, and most customers receive their funds within a few days.

    What are the Disadvantages of Marlin Capital Solutions?

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    Most reviews and estimates suggest the company has rigid approval requirements. Businesses must be established and generate high annual revenue.

    The company doesn’t disclose interest rate information upfront, making it difficult to compare to other lenders. Businesses that want to price shop before applying for business financing need to look elsewhere.

    It also charges high late payment fees. If you pursue financing with the company, make sure you don’t miss any payments.

    Another drawback is that financing for equipment caps out at $250,000. While that will cover a lot of small business equipment, other lenders go well into the millions for equipment financing.

    Pros & Cons:

    pros, and, cons

    Pros:

    • Potentially low interest rates.
    • Accepts most industries.
    • Easy application process.
    • Quick turnaround on funding.

    Cons:

    • Strict approval requirements.
    • Doesn’t disclose interest rates until you apply.
    • Financing for equipment only goes to $250,000.

    Apply for business funding through United Capital Source today.

    Marlin Capital Solutions Frequently Asked Questions

    Is Marlin Capital Solutions Safe for Small Business Owners?

    security, secure, locked

    Yes, Marlin Capital, now PEAC Solutions, is a safe and reputable lending company. The Better Business Bureau has accredited the company since 2011. and has an A+ rating. The company has a 100% response rate to the fourteen complaints on the watchdog site.

    It has a 4.7 rating on Trust Pilot. The company has been in business for 25 years and was recently purchased by HPS Investment Partners, LLC.

    What Do Marlin Capital Solutions Reviews Focus On?

    board, chalk, feedback

    Positive reviews discuss the ease and brevity of the application and funding process. Applying doesn’t require paperwork, and users can complete the whole process with a few clicks.

    Along with the quick and easy application process, customers also enjoy how quickly loans get funded. In many cases, business owners receive their funds or equipment within the same week they applied, if not sooner. Equipment delivery can take longer depending on the vendor, but the equipment is purchased within 24 hours of approval.

    Other favorable reviews also discussed the knowledge and support of Marlin Capital Solutions employees. Many customers say their representative did a fantastic job taking care of their needs.

    feedback, review, good

    Negative reviews complain about not being able to contact the company. Several users commented about long on-hold times and never receiving a callback.

    A lot of reviews talked about having to pay taxes on equipment. The company legally owns the equipment during the financing term. As such, they receive the tax bill for the financed equipment and send that bill to the customer.

    What if Marlin Capital Solutions Denies My Loan?

    x, exit, buttonThe company’s underwriting team reviews every application. They compare your business history, revenue streams, credit score, and annual revenue to your requested amount and terms.

    Several things could trigger a denial during that process. It could be too low of a credit score, insufficient revenue, cash flow issues, or other reasons.

    If you apply and receive a denial letter, it will explain the reason for the denial. If not, you can contact them for more information.

    There are plenty of other lenders if Marlin doesn’t work for your business. Many lenders offer working capital loans and equipment financing without strict requirements.

    Making Your Decision

    king, chess, checkmate

    The lending company is best for established businesses with annual revenue. The company does advertise special equipment financing programs for startups; otherwise, businesses must be under the same ownership for two years.

    Most estimates suggest the company’s rates are affordable, but that comes with high approval requirements. Businesses with lower credit scores or annual revenue likely won’t qualify. Based on user reviews, products offered, and rates and terms, we rate Marlin Capital (PEAC Solutions) as a 4.2 out of 5.

    Apply for business funding through United Capital Source today.

    Why Choose United Capital Source?

    Why businesses choose UCS:

    1
    Quick funding options that won’t affect credit
    2
    Access to 75+ lenders with multiple products to choose from
    3
    Financing up to $5 million in as few as 3 days
    4
    1500+ 5 star reviews from happy clients!

    Ready to grow your business? See how much you qualify for:

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