Main Street Finance Review

Founded in 2014, Main Street Finance Group has been there to offer some of the best and most convenient secured and unsecured financing options for small businesses. Main Street Finance works fast to get their clients the financing they need, and in the time they need it most.
Main Street Finance
Last Updated On: March 14, 2020Affiliate disclosure
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Founded in 2014, Main Street Finance Group has been there to offer some of the best and most convenient secured and unsecured financing options for small businesses. Main Street Finance works fast to get their clients the financing they need, and in the time they need it most. One of the things we discovered during this Main Street Finance review (and truly appreciated!) is that the company lends to businesses in all 50 states. This means that not only they are not limited by location as many lenders are, but they are experienced and knowledgeable about the underwriting standards that exist for states where it can sometimes be more difficult to get funding, such as California, Florida, and New York.

Main Street Finance provides up to $500,000 in loans for companies looking to grow their business. Offering both short-term and long-term solutions, Main Street Finance services include, but are not limited to – business cash advances, lines of credit, credit repair, credit card processing savings, unsecured long-term loans, invoice factoring, and collateral loans.

Main Street Finance can also help speed up the process of securing SBA 7A loans. Typically, this process can take a long time, and businesses can find it difficult to qualify. That’s where Main Street Finance comes in to make it faster and easier to secure SBA 7A loans. With help from Main Street Finance professionals, businesses can expect to get their funding within 60 to 90 days.

  • Low rates
  • Flexible payments based on a percentage of future sales
  • Both short-term and long-term options
  • No liens placed on your home or business
  • A good option for borrowers with poor credit
  • Funding within 24-48 hours
  • Customer support is not 24/7
  • $5,000 loan minimum

Services Offered & Types of Funding

  • Type of funding – Multipurpose small business loans
  • Age of business / Minimum time in business – 6+ months in business
  •  Loan amount – $5,000 – $1,000,000
  •  Minimum credit score – below 500
  •  Time until funding – as little as 24 hours
  •  Repayment terms – 2-18 months
main street finance
Business Cash Advance / Merchant Cash Advance

Merchant Cash Advances (MCAs) have become the most popular method for small business funding in post-recession America. A merchant cash advance has historically been for businesses whose revenue comes primarily from credit and debit card sales, such as restaurants or retail shops. If you choose this method of finance, Main Street Finance gives you an upfront sum of cash in exchange for a slice of your future sales. Getting a business cash advance with Main Street Finance is super easy and fast compared to traditional bank loans. The process works like this: once funding is approved, the funds are deposited in the business bank account, and it will be paid back using a percentage of the businesses’ future revenues directly out of the same account. Depending on eligibility this will be done either daily or weekly. You can get MCA loans with Main Street Finance from $5000 to $1,000,000, to cater to all your financial needs, paid back over 2 months to a year or more. In the case of large advances, the payback length may be 18 months or more.

Lines of Credit

A Line of credit is a flexible financing program that is meant for a business to use on an as-needed basis. Lines of credit are somewhat similar to MCA’s, except that the merchant has the ability to choose when and how much funding they take out of the amount they are approved for. This means that a business will have access to a specific amount of money and has the freedom to use the money when they need to.  The terms of a live or credit offered by Main Street Finance will depend mostly on 3 factors; business credit, personal credit, and cash flow. The better the credit profile and the strong the cash flow, the more attractive the rate and terms will be.  Interest rates for line of credit tend to be a little bit lower as well. Otherwise, the qualification process for lines of credit and MCA’s are the same.

Collateralized Loans

Collateral is often required when the lender wants some assurance that they won’t lose all their money. Business cash advances and lines of credit are examples of non-asset backed loans that are supported by the company’s future credit card receivables. Collateral is something that helps secure a loan. When you borrow money, you agree (somewhere in the fine print) that your lender can take something of yours and sell it to get their money back if you fail to repay the loan. Collateral loans are somewhat similar to traditional bank loans in that they require the borrower to use the value of real estate property or large business equipment (such as company vehicles or large factory machinery) to underwrite the loan. Providing collateral makes it possible to get large loans, and it improves your chances of getting approved if you’re having a hard time getting a loan. These loans are also similar to traditional loans in that they can also take several weeks to complete and have a lot of paperwork requirements, unlike a business cash advance. However, a business with a valuable piece of collateral can often be approved through Main Street Finance for a far greater loan amount than they may ordinarily qualify for based purely on their monthly revenue and credit score.

Equipment Financing

This type of loan is specifically for buying machinery necessary to expanding a small business operation. Equipment financing can be a great option if your credit rating is less than perfect, too, since the equipment acts as collateral. Requirements may vary but the terms are often fairly similar to those of other small business loans.
As it turns out, a business equipment loan application with Main Street Finance can be a simple process and most businesses can qualify for equipment financing loans with Main Street Finance. How much you qualify for—and the interest rate you’ll pay—depends on the value of that equipment, your business’s financial history, and your credit score. You’ll likely need to provide your credit score and prove the financial health of your business with tax returns and bank statements.


Not every business is looking to add another loan to businesses’ bottom line. Consolidation occurs when someone pays off several smaller loans with one larger loan. In some cases, it is far more valuable for the company’s sustainable future operations to consolidate their existing loans. While consolidating large amounts of business advances (greater than $50,000) is often difficult for small business lenders, there are often situations where Main Street Finance can offer businesses with 1, 2, or 3 existing loans can a consolidating loan that will pay off the existing debt and leave the company with some funds for their continued needs. Often the larger loan has a lower interest rate than the smaller loans. A consolidation loan may make it easier to manage your debt because you just have one payment to worry about. Additionally, the term on the loan is often longer which will lower the amount the consumer needs to pay each month.

Healthcare Cash Advance

With a healthcare cash advance, Main Street Finance provides fast working capital exclusively to businesses in the healthcare sector. Healthcare cash advances are different from business cash advances in one important way – they can create advances based on future insurance receivables as well as regular business revenue. Unlike typical cash advance lenders who only consider credit card receipts, Main Street Finance understands that as a healthcare-related business, credit card sales only constitute a tiny portion of your overall revenue. That’s why when qualifying for a Main Street Finance healthcare cash advance, the amount your business is able to receive is based on your historic volume of insurance receivables as well as credit card receivables. This means that future Medicare, Medicaid, & all commercial healthcare claims and receivables can used as revenue to underwrite an advance offer. These types of deals are available to almost any healthcare industry business that handles revenue from healthcare insurance companies.
Unlike a business cash advance, businesses are required to use the funds for certain purposes, such as:

  • Practice acquisition / practice expansion
  • Purchase of bulk supplies
  • Staff hiring and training
  • Advertising / marketing
  • Technology upgrades
  • Paying off vendor bills

The main advantage of the healthcare cash advance is that it creates much better loan options for business in the medical industry than qualifying simply through credit card receipts. Merchants are not required to change credit card processors or insurance providers to get funding.

Rates and Fees

Main Street Finance offers small business loans from $5,000 to $1,000,000. They use a number of different data points to instantly provide you with the best possible loan offer, including competitive rates.
A government backed SBA 7A loan almost always bears a rate of 6% or 7%, with payback term of up to 25 years. How much you’ll pay in fees if you opt for a merchant cash advance is determined by your ability to repay the loan. Main Street Finance determines a factor rate — typically ranging from 1.2 to 1.5 — based on its risk assessment. The higher the factor rate, the higher the fees you pay.
Payment schedules can vary anywhere from 60 days to up to 18 months or more. In some cases, there are also rewards for early pay-offs. The company works regularly with businesses that are dealing with emergency funding situations or are seasonal and will always take that into account when finding them an offer that is right for them.

Borrower Qualifications

Main Street Finance offers small business loans to companies in every corner of the country.
In order to qualify, Main Street Finance will consider a few different factors such as

  • The business owners’ credit scores
  • The average bank account balance
  • Current outstanding loans, liens, and defaults

A business that has been running for over six months with a monthly revenue of $5,000 or more will usually qualify for a loan through Main Street Finance.
One of the advantages of obtaining a business loan through Main Street Finance is that you do not have to personally guarantee the advance. Moreover, no liens will be placed on your home or business.
Healthcare providers looking for a healthcare cash advance with Main Street Finance will have a better chance of approval if they are one of the following:

  • Medical facilities who receive regular Medicare EFTs and insurance company payments electronically. Examples include but are not limited to ambulatory or surgi-centers, imaging centers, emergent care clinics, pain clinics, medical parks with multiple specialties and pharmacies.
  • Practitioners that perform procedures and accept GE Care Credit and other forms of patient financing as payment from customers. Examples include but are not limited to dentists, aestheticians, plastic or cosmetic surgeons, orthodontists and veterinarians.

Application Process

The Main Street Finance approval process is painless, we were happy to discover during our Main Street Finance review. Their staff offers services nationwide and have experience and understanding in the underwriting standards for each state specifically. Main Street Finance created a simple 3-step simple and fast application process, so businesses can secure their loan quickly.

Help & Support

Main Street Finance Group prides itself on strong customer service. Customers with any questions can easily get in touch with staff by phone, email, or online contact form. Main Street Finance Group considers customer privacy of the utmost importance. It has developed policies for customers to understand how it collects, uses, communicates and discloses, as well as makes use of personal information. when applying for a loan with Main Street Finance, customers can expect 100% security.

User Reviews

Main Street Finance has only 2 reviews on the website Trustpilot and no reviews or ranking at BBB where no reviews were posted by consumers. The fact that there are no bad reviews might serve as good news, but the absence of reviews is something for you to consider.

Final Thoughts

Main Street Finance Group has been there for small business owners since 2014. The company offers some of the best and most convenient secured and unsecured financing options for small businesses. They pride themselves on their ability to get merchants offers in just a few hours. From the research that we conducted during this Main Street Finance review, we think this lender has a solid offering for small business owners nationwide. Whether it’s a business cash advance, line of credit, unsecured long-term loan, or collateral loans, Main Street Finance certainly offers some of the widest funding options in the industry, all at competitive terms.

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