Eddie Speed's veteran operation vs. NBOA's technology-driven approach
Colonial Funding Group has one of the longest track records in the note industry. Here's how they compare to NBOA on what matters to individual note sellers.
| Factor | NBOA | Colonial Funding Group |
|---|---|---|
| Founded | 1997 (29+ years) | ~1980 (40+ years) |
| Transaction Volume | $50M+ | $500M+ / 40,000+ notes |
| Quote Speed | Within 24 hours | Not stated |
| Closing Timeline | 21 days avg (5-day fastest) | Not stated |
| Close Rate | 100%* | Not stated |
| Price Guarantee | $500 Better Offer Guarantee | Not stated |
| Technology | AI-powered platform | Online form |
| BBB Rating | A+ Accredited | Not rated / Not accredited |
| Google Reviews | 5.0 (10 reviews) | No reviews found |
| Seller Access | Direct to seller | Through broker network |
*On deals without title or legal defects.
Colonial Funding Group, founded by Eddie Speed, is one of the most established names in the note industry. With 40+ years of experience and 40,000+ notes purchased, their volume is impressive. The NoteSchool executive team has collectively been involved in $3.5 billion in note transactions.
NBOA has 29+ years in the industry with $50M+ in transactions. While Colonial's raw volume is larger, NBOA provides something Colonial doesn't publicly share: performance metrics. NBOA's published 100% close rate, 21-day average close, and $500 guarantee give sellers concrete benchmarks to evaluate.
One of the most notable differences is transparency. NBOA publishes its close rate (100%), average closing timeline (21 days), fastest close (5 days), and pricing guarantee ($500). These numbers give sellers clear expectations.
Colonial Funding Group does not publicly state their closing timeline, close rate, quote speed, or pricing guarantees. They also lack BBB accreditation, BBB reviews, and Google reviews — making it harder for individual sellers to evaluate the experience they'll receive.
Colonial's business model has evolved. Today, they primarily work through "Colonial Premier Brokers" — graduates of Eddie Speed's NoteSchool training program. Individual note sellers may be routed to a trained broker rather than working directly with Colonial's team.
NBOA works directly with note sellers. No intermediaries, no broker routing. You deal with NBOA's team from quote to close. Combined with a 90+ institutional investor network, this means your note gets competitive pricing without adding a middleman.
Eddie Speed's NoteSchool is a respected educational platform for aspiring note investors. It's important to understand that Colonial Funding Group and NoteSchool are closely linked businesses. A significant portion of Colonial's operations now focuses on training new note brokers and investors rather than direct note purchasing.
For individual note sellers, this matters because it may affect how directly Colonial engages with your transaction. NBOA's sole focus is buying notes — not training other people to buy them.
Colonial Funding Group has undeniable industry credentials. Eddie Speed is a genuine pioneer in the note space.
Colonial Funding Group, founded by Eddie Speed around 1980, has purchased 40,000+ notes and over $500M in trades. They now primarily work through their trained broker network. NBOA offers direct-to-seller service with a $500 Better Offer Guarantee, 100% close rate, AI-powered pricing, and A+ BBB accreditation.
Colonial now primarily works through their Colonial Premier Brokers network. Individual sellers may be routed through a broker rather than working directly with Colonial. NBOA works directly with note sellers without intermediaries.
No. As of early 2025, Colonial Funding Group is not BBB accredited and does not have a BBB rating. NBOA is A+ BBB accredited with 5.0-star Google reviews.
Get a no-obligation quote backed by our $500 Better Offer Guarantee.