Bryn Mawr Funding Reviews - Financial Lender Pros & Cons


adele-katz writer
By Adele Katz
Updated November 9, 2020
Editor's Rating
Flexible Equipment Lender
Customer Rating 16 Reviews

This reputable lender has been in business for over 30 years, delivering equipment financing solutions for brokers and independent leasing companies across most industries.  

Pros
  • Most industries and assets accepted
  • Application only programs
  • Financing available in 50 states
  • Used and titled equipment acceptable 
  • Discounted early payoff policy
Cons
  • Limited loan amounts available
  • Fewer resources available than other lenders
  • Very conservative lender
  • A-rate deals only 
Types of loans
  • Equipment 
Loan amounts
$10k - 250k
Terms of payment
24-66 months

Overview

Services Offered (Equipment Financing): 

Bryn Mawr Funding offers equipment financing agreements (EFA) and leases for third-party originators nationwide.

Industries Served: 

Unlike many lenders in the equipment financing sector, Bryn Mawr Funding serves most industries and sectors with very few exclusions. Other lenders have far more prohibited assets and industries, making Bryn Mawr Funding a good choice for borrowers serving more volatile businesses.  

Borrower Qualifications:

Bryn Mawr Funding has more stringent qualification requirements than many similar lenders in equipment financing. 

For medical industry equipment financing, this lender has the following criteria:

Tier 1: MD, "Ologists", Surgeon, OB/GYN.

Tier 2: Dentist, Podiatrist, Urgent Care, Veterinarian.

For non-medical/general industries, Bryn Mawr Funding requires the following for financing approval:

Excluded industries:

Compared to many lenders working in the equipment financing sector, Bryn Mawr Funding excludes very few industries. While certain sectors are regarded as too volatile and must seek financing from other lenders, most industries will qualify for financing. The excluded industries are: 

Terms & Fees: 

Borrowers applying for equipment financing from Bryn Mawr Funding will pay a $225 document fee. Additional charges may apply, for example if a site inspection is required.

Amount: 

Bryn Mawr Funding offers lower funding amounts than other lenders, with financing available from $10, 000 - $250, 000. 

Term length: 

Borrowers will be able to set the loan term length within the range of 24-66 months.

Interest rate: 

Interest rates on equipment financing from Bryn Mawr Funding range from 6-8%. This amount fluctuates depending on market conditions.

Down payment: 

In order to access financing, borrowers will be required to offer 1 or 2 advance payments on the loan.                        

Application Process: 

Bryn Mawr Funding delivers an easy, fast application process via an online form and broker agreement. In addition to the signed and completed application, applicants will need to provide 3 months of bank statements  and a written statement about funding needs, including the impact of Covid-19 to the business.

Approval for financing is contingent on confirming submitted information, including:

Bryn Mawr Funding

Sales & Advertising Transparency: 

Bryn Mawr Trust is a well established commercial banking and lending institution with a transparent and comprehensive online presence. All lending products and terms are clearly outlined and described on the company’s website, including information about equipment financing for third party brokers or leasing agents. With over 30 years in business, Bryn Mawr is a trustworthy choice for financing solutions. 

Customer Service & Technical Support: 

Bryn Mawr Trust, or BMT, is the parent company of Bryn Mawr Funding. As a well established banking and lending institution, customers will benefit from a nationwide footprint with over 40 locations and accessible customer service options. 

Customer Call Center

Phone: 610-525-1700

Mon- Fri 7:30 a.m. – 8 p.m.

Saturday 9 a.m. – 2 p.m.

Sunday 11 a.m. – 2 p.m

Customers can also access an online email form to submit questions or concerns 24/7. The customer service team is quick and responsive. 

User Reviews: 

With multiple branches nationwide, Bryn Mawr receives mixed reviews online. Plus, since the lender offers a wide range of commercial banking services, understanding what branch and sector the reviews are for is vital to determining whether to choose this lender. Some negative reviews discuss the complexity of accessing equipment financing with Bryn Mawr, but generally reviews are positive. 

Bryn Mawr is not accredited by the Better Business Bureau but has an A- rating on the platform. 

Final Verdict:

For equipment financing brokers and independent leasing companies, Bryn Mawr Funding is a reputable lender with an easy application process. This lender has stricter requirements and lower finding amounts than many other lenders in this sector, but prohibits fewer assets and industries. Depending on the business sector and amount of funding required, Bryn Mawr Funding is a good and reputable financing option. 

SEE IF YOU QUALIFY

16 User Reviews

Amanda Huel DDS

Nov 20, 2020 10:15 PM

My trucking business in Phoenix, Arizona needed equipment financing to back the purchase of some spare parts and a couple of logging devices for the new vehicles in the business. After doing much research, I decided to apply at Bryn Mawr Funding as their rates seemed quite reasonable compared to other lenders. And also because they could help me find lightly used equipment on cheaper rates. The application process did not take much but the documentation portion was somewhat frustrating. There was pretty long list of documents they were looking for and a much of them seemed unnecessary too. But with the help of a loan officer, I was able to complete the process. I received the equipment with a week as I had already provided vendor approval for the equipment. I would have appreciated it if they had not asked for a down payment. Many lenders do provide that. But Bryn Mawr asked for 2 advance payments on the equipment financing but I negotiated for one payment. Over all, it was a good experience. I would definitely contact these people again if I need equipment financing again.

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Robb Casper

Nov 27, 2020 10:16 PM

I am surprised that they let you pay only one advance payment. I kept asking them to reduce the down payment as 2 advance payments seemed like a lot on a loan rate of 8% but they did not budge. I would have had a pretty good deal with them if they weren't this unmoved. I was looking to finance a bunch of vehicles for my landscaping company in Ohio. They did not accommodate me and told me it was a take it or leave it deal. I left. I couldn't have them exploiting me like this. Good riddance!

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Amanda Huel DDS

Dec 1, 2020 10:17 PM

This is awful indeed! But what reason they gave for this? I'm sure there must be a reason. How's your credit history? Have you taken any equipment loans before? If yes, how did that turn out?

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Robb Casper

Dec 11, 2020 10:19 PM

They told me my credit history was not supportive enough and they could not take a risk. And I did have prior equipment leasing experience but it did not end well. The lender took the equipment as I was not able to pay an installment during the COVID-19 situation. Even they did not give me a chance. These lenders are just ruthless. Times were hard and every business was taking a hit from the pandemic and instead of understanding my situation, they too did not accommodate me. So, recently I turned to Bryn Mawr Funding on the suggestion of a friend who told me they are very supportive of small to medium businesses. I had high hope of these people but the disappointed me too.

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Amanda Huel DDS

Dec 15, 2020 10:20 PM

I can understand your frustration. The pandemic had us all taking a big hit but market is getting better, still volatile but better than before. And as for your disappointment regarding Bryn Mawr Funding, I find it a little unfair. In my opinion, they were already risking a lot by just offering you the equipment financing loan, given your last bad lending experience. You were unable to pay them and your equipment got seized too. This is not a good situation and trust me, not many banks or lenders would still extend you any offer, no matter how high they charge you in terms of interest rates. But these guys did. It was only fair to ask for a double advance payment.

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Robb Casper

Dec 23, 2020 10:21 PM

You could be right but I am recently going through an equipment financing deal with another lender and I am looking at a deal with zero down. How's that? If they can offer me, so could Bryn Mawr! They just are not sympathetic enough!!

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Amanda Huel DDS

Dec 29, 2020 10:22 PM

I don't think it's like that. I'm just saying you shouldn't rate them down for being cautious. They are just following company policy. That's all. And it's only fair. At least, they did not decline your offer right away. And I am glad you found someone who could offer you a deal of your likeness. Good luck!!

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Emily Frami

Jan 6, 2021 10:23 PM

I had a great experience with Bryn Mawr. They are a part of the Bryn Mawr Trust (BMT) and I had already heard so much about the trust and now I have experienced their greatness as well. The equipment financing loan I got was everything I was looking for. I had a couple of vendors in mind to purchase used computers for my law firm. I am upgrading the archives and getting rid of most paper work, except of course whatever is necessary by the courts. I had contacted those vendors and a merchant who was offering used equipment to renovate the company's tea room as well. I needed some furniture too. So, anyway, I had approval of all the vendors and the merchant as well and I was good to go. Everything was complete in just two weeks. The machines are up and running and my firm's upgraded now. As for the cafe, the renovation is almost done, the furniture is on its way. It could not have been possible without the equipment financing by Bryn Mawr Funding. The process was seamless and smooth. I'm so, so grateful!!

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Vesta Koch

Jan 29, 2021 10:23 PM

My construction company was in a dire need of some new equipment to replace the a could of old ones that were faulty or no longer functional. I bought from the same merchant I always bought from ever since I set up my business. This time, Bryn Mawr Funding supported the purchase. Got a machinery loan at 7% - a great deal! The only part I did not like was the documentation fee and that they were asking for 2 advance payments as the down payment for the equipment financing. But I took the deal anyway as the rate was quite reasonable and also because I was getting some lightly used equipment, which was a good deal for me. It was a satisfying experience overall. Bryn Mawr really helped me get my construction company to function and start business as usual. Contrary to my expectations, it has been not that difficult making the paybacks. Thank heavens the business is running good, I would be able to complete the paybacks on time!

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Estella Bauch

Feb 17, 2021 10:23 PM

Excellent service! Bryn Mawr helped my IT company get out of a very tight spot. With their quick equipment financing, I was able to replace faulty equipment and computer parts at the company sooner rather than later. If it weren't for their quick service, I would have been in a tight jam with clients swamping me with deadlines on their projects. The financing came quick and saved me from much embarrassment. I did not mind paying two advance payments for the deal as I needed a fast service, I was ready to pay the price and it seemed fair, to be honest! Business got back to running mode in no time! Thank you so much Bryn Mawr Funding!

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Bonnie Mann DDS

Mar 1, 2021 10:23 PM

Bryn Mawr Funding is fast, reliable and transparent! Definitely recommended 100%!!

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Dimitri Morissette

Mar 25, 2021 10:23 PM

these people are one of the best equipment financing providers I have every come across during my 7 years of business in the consultancy business. Everything you want to know about their equipment financing product is available on their website. You do not have to talk to an agent or representative to offer you the information, you can just get that by yourself on their website. Also, they put everything out there in the open - from the list of documents needed for the application to every fee that they would be charging you. They even tell you they would charge you an inspection fee if there is an inspection involved. I worked with a lender a couple of years back and they did not mention anywhere about an inspection fee and there was no need for an inspection anyway but they did that and I thought maybe they were just doing it to be sure but when I signed the deal with them, they had charged me for that too. It was ridiculous and shocking! The only reason I'm mentioning it here is that at Bryn Mawr, they are very transparent about all the fees and charges you could expect. There is no shady behaviour and no hidden or surprise fees in the end. They even tell you that the interest rates they have mentioned on their website could change depending on the market situation. In my experience with banks and lenders, they don't bother doing it. they just hand you a receipt of fees and you have to pay, that's all! I am grateful to Bryn Mawr for their honesty and transparency. They are really making honest money! Way to go!!

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Brenna O'ReillyI

Apr 12, 2021 10:23 PM

Good service over all! Although the down payment on the machinery loan does feel like a lot but once you get that off your shoulder, it is just smooth after that. Also because other equipment financing providers are much more demanding and charge a lot of fees.

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Pearline StrosinV

May 1, 2021 10:28 PM

Honest, direct and quick! The only thing they lack is a good customer service. Even a simple query is answered in days. They should work on that and address client queries in a more professional, responsive and prompt manner.

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River Hilpert

May 20, 2021 10:28 PM

i was seeking a business equipment financing loan for my company in texas and i came to know of Bryn Mawr through a business colleague. he had said so much about these people, their great rates, their honesty and all that. I contacted them with high hopes only to know after a couple of conversations that they were no different from other regular lenders. their down payment demand was just ridiculous and then there was a documentation fee too and they said, theyd have to inspect my business site as well. nd guess what? They were charging me for that also. And to top it all the interest rate they were offering was 11%. RIDICULOUS! first there was this fee and that fee and then the interest rate I was getting was also more than what they offer to most people or what they state on their website ! this is clear fraud! i backed off and never contacted them again. beware of these people!! they are sharks!!

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Rebekah Cormier

Aug 25, 2021 10:28 PM

Good lender. recommend their equipment financing product. quick service!

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