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Black Onyx Corporation provides commercial and business financing solutions including SBA loans, equipment leasing, asset-based financing, and working capital lines of credit to businesses across the U.S., Canada, Australia, and the U.K.
Data compiled from public sources
Black Onyx Corporation, LLC is a business finance broker based in Chicago, Illinois that specializes in connecting businesses with commercial financing solutions. Operating from their Michigan Avenue office, the company positions itself as an alternative to traditional bank lending by offering access to hundreds of funding programs rather than limiting clients to a single lender's offerings. The company's stated mission is to be "the best in the world at creating outstanding opportunities for our clients" through professional service and financial experience context.
The company offers a comprehensive suite of business financing products including SBA loans, equipment leasing, asset-based financing, accounts receivable factoring, sale-leaseback arrangements, purchase order financing, payroll financing, and working capital lines of credit. They also provide real estate financing tools and calculators. Black Onyx emphasizes their "highly personalized service" and claims to cut through bureaucratic red tape by directing clients to the most appropriate funding source from their network, which they monitor daily for rate claims to verify and terms.
Black Onyx differentiates itself primarily through breadth of access rather than direct lending. They position themselves as consultants who connect businesses to multiple funding sources across four countries, rather than as a direct lender. The company also provides ancillary services including business planning and consulting, professional underwriting, program and finance management, and commercial lender negotiations. Their website includes educational content about equipment leasing versus purchasing and various financing concepts.
As a finance broker rather than a direct lender, Black Onyx's effectiveness depends on their actual relationships with funding sources and the competitiveness of rates they can access. The website contains generic educational content but limited specific information about rates, terms, approval timelines, or actual client outcomes. No details are provided about application requirements, typical loan amounts, or APR ranges. The company's profile context relies heavily on claims about consultant experience context and funding source access that are difficult to independently verify from publicly available information.
This is state-level context for Business Loans consumers in Chicago, IL. It does not confirm that Black Onyx Lending or this specific location is licensed.
State regulator
Illinois Department of Financial and Professional Regulation
Consumer protection
Status: Permitted
Rate context: 36% APR cap (including all fees) under Illinois Predatory Loan Prevention Act (2021)
All consumer loans are capped at 36% APR including fees and charges. Applies to all lenders offering personal loans to Illinois residents.
Status: Permitted
Rate context: 36% APR cap (including all fees) under Illinois Predatory Loan Prevention Act (2021)
Regulated under the Illinois Consumer Installment Loan Act (815 ILCS 601/1 et seq.). Installment loans must comply with the 36% APR cap. Lenders must disclose all terms clearly and provide notice of cancellation rights where applicable.
Source: CreditDoc state-law summary and listed public regulator resources. Verify licensing directly with the listed state regulator before relying on a provider.
Black Onyx Lending offers 12 services including SBA Loan brokerage and placement, Equipment leasing and sale-leaseback financing, Asset-based financing solutions, Accounts receivable factoring, Purchase order financing, and 7 more.
Black Onyx Lending has profile signals associated with Growing businesses needing working capital or equipment financing with complex requirements beyond standard bank programs, Companies with established assets or receivables that qualify for asset-based or factoring arrangements, Business owners seeking SBA loans and willing to work with a broker to navigate program options.
Key strengths: Access to hundreds of funding programs across multiple countries (U.S., Canada, Australia, U.K.) rather than single-source limitation; Offers listed SBA loan programs with professional underwriting and negotiation support; Provides multiple financing structures including equipment leasing, asset-based financing, and factoring to match business needs. Areas to consider: No specific information about interest rates, APRs, fees, or typical loan terms available on website; No details about approval timelines, minimum loan amounts, or eligibility requirements.
In the Business Loans category, comparable providers include 1st Commercial Credit, LLC, Chicago Development Fund, National Community Investment Fund. Each company has different strengths, so compare services, pricing, and consumer complaint records before deciding what to do next.
CreditDoc Profile Note
Black Onyx is best suited for established businesses with legitimate financing needs that exceed traditional bank capabilities, particularly those requiring equipment leasing, asset-based financing, or SBA loan guidance. The main caveat is that as a broker with no published rate information or performance metrics, businesses should verify actual terms and compare offers independently before committing, and clarify all fees upfront since brokers typically add costs to direct lending rates.
1st Commercial Credit is a Chicago-based invoice factoring and supply chain finance company offering accounts receivable financing, PO financing, and trade payable solutions with rates from 0.69%-1.59%.
Profile signals: B2B service companies (staffing agencies, construction contractors) with customers paying on 30/60/90-day terms, Wholesale and distribution businesses needing working capital for inventory purchases and customer payment terms
Chicago Development Fund is a City of Chicago program offering business financing and development support through the Department of Planning and Development.
Profile signals: Chicago-based small business owners seeking government-backed financing, Organizations aligned with city economic development and community impact goals
CDFI providing equity investments, New Markets Tax Credits, and lending to mission-driven financial institutions and small businesses in underserved communities.
Profile signals: Community development professionals seeking to deploy capital in underserved areas, Institutional investors balancing financial returns with community impact goals
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Read guide →New to credit and lending? Here are the key terms used on this page, explained in plain language with real-number examples.
The total yearly cost of borrowing money, including the interest rate plus any fees the lender charges. Think of it as the 'true price tag' on a loan.
Lenders are required to show APR by law (Truth in Lending Act) because the interest rate alone can hide fees. Comparing APR across lenders is the most reliable way to find the lower-cost loan.
Example
You borrow $10,000 at 6% interest for 3 years, but there's a $300 origination fee. The interest rate is 6%, but the APR is 6.9% because it includes that fee. You'd pay $304/month and $946 total in interest.
The percentage a lender charges you for borrowing their money, calculated on the amount you still owe. It's the lender's profit for taking the risk of lending to you.
Even a 1% difference in interest rate can cost you thousands over a loan's life. Lower rates mean less money out of your pocket.
Example
On a $20,000 car loan for 5 years: at 5% you pay $2,645 in interest. At 8% you pay $4,332. That 3% difference costs you $1,687 extra.
A person who agrees to repay your loan if you can't. They're equally responsible for the debt, and their credit is affected by your payment behavior.
Cosigning helps people with thin credit get approved or get better rates. But it's a huge risk for the cosigner — they're on the hook for the full amount if you default.
Example
A parent cosigns their child's $30,000 student loan. The child stops paying after 6 months. The parent is now legally required to make the payments or face collections, lawsuits, and credit damage.
How long you have to repay the loan, measured in months or years. A shorter term means higher monthly payments but less total interest paid.
Longer terms feel more affordable monthly but cost much more overall. A 30-year mortgage costs almost double in interest compared to a 15-year mortgage on the same amount.
Example
Borrowing $200,000 at 6.5%: A 15-year term costs $1,742/month ($113,561 total interest). A 30-year term costs $1,264/month ($255,088 total interest). You save $141,527 with the shorter term.
A one-time fee the lender charges to process and set up your loan. It covers their costs for underwriting, verifying your information, and preparing paperwork.
Origination fees are usually 1-8% of the loan amount and are often deducted from your loan proceeds — so you receive less than you borrowed.
Example
You're approved for a $10,000 personal loan with a 5% origination fee. The lender deducts $500 upfront, so you receive $9,500 in your bank account but owe $10,000 plus interest.
The original amount of money you borrowed, before any interest or fees are added. It's the 'real' amount of your debt.
Your interest is calculated on the principal. Paying extra toward principal (not just interest) is the one route to reduce your total cost and pay off a loan early.
Example
You borrow $25,000 for a car. That $25,000 is your principal. Your first payment of $450 might split as $150 toward interest and $300 toward principal, bringing your balance to $24,700.
The process where a lender evaluates your finances — income, debts, credit history, assets — to decide whether to approve your loan and at what rate.
Understanding what underwriters look for helps you prepare a stronger application. They check your DTI ratio, employment stability, credit score, and the asset's value.
Example
You apply for a mortgage. The underwriter reviews your pay stubs (income), bank statements (savings), credit report (history), and orders an appraisal (home value). This takes 2-4 weeks.
Want to learn more? Read our Financial Wellness Guides for in-depth explanations and practical advice.
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