Finance Companies

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There are many finance companies out there that specialize in specific industries. While some may be positioned to lend to the commercial industry, others work exclusively with consumers. However, some finance companies that specialize in one thing are also perfectly happy to work with just about anyone. This is usually not the best way to go and I highly recommend you work with a company that is focused on the industry you are interested in.

Commercial Finance Companies

GE Capital: GE Capital has been around forever and is still one of the dominate forces in commercial lending. They specialize in working with companies that require capital for growth, acquisitions, and commercial real estate. GE Capital is the leader among commercial finance companies and should be your first call for large scale projects.

Ally Financial: Formerly known as GMAC Commercial Finance. Ally specializes in asset based loans and is usually a bit more stringent than GE Capital. However, they are a great institution to work with and provide excellent resources to companies seeking additional financing.

There are many other commercial finance companies, but few have the resources of the above two. Even some very large banks outsource their commercial lending or have extremely tight restrictions on the types of businesses they will lend to.

Consumer Finance Companies

Quicken Loans: Quicken has really positioned their company as a powerhouse in consumer finance. They have excellent programs in place for nearly any type of loan for any reason. The interface they use is second to none and they make it extremely easy to shop for a great loan package.

Navy Federal Credit Union: If you are a member or can become a member, this is one of the best consumer finance companies in the world. It can be difficult to become a member, but once you are in you will have access to some of the best products on the market today. If eligible, this should be your first stop for consumer lending.

Working with the large nationwide banks is rarely the best way to go. They have many different restrictions, it is difficult to discuss your situation with anyone qualified to help you, and their customer service is typically terrible. You are much better off going with a lending company that specializes in consumer finance and only consumer finance.

The Finance companies listed above have proven time and again that they are at the top of their game. Of all the finance companies in the country, these are the only four I would ever deal with for nearly anything. I do have some personal and business credit cards with some other companies, but the only reason I do is because I have the same credit cards for over 10 years. This fact keep my credit score very high so I’m unlikely to cancel any credit card provided that they don’t have any annual fees or other charges. As long as they are free, I have no reason to cancel them and stick with the above lending institutions. I have not applied for a business or consumer loan with any finance companies besides the above four in many years, nor would I ever.