Applying for a business loan online is new for many small business owners. The ability to have funds available for use in just a few days makes a loan from an online lender appealing for owners that need access to funds quickly and for those that want to avoid the hassle of a traditional lending option. First-time applicants with SnapCap are often impressed with the simplicity of the process and the high likelihood to qualify for a funding option.
SnapCap Funding Options
There is a wide range of small business funding options available to merchants. Funding options through SnapCap are flexible in their application, meaning that the capital can be applied in any way needed so long as it is a legitimate business purpose that will help your business succeed. SnapCap is focused on short-term, unsecured funding options that emphasizes recent business performance in order to determine qualification. Products offered include short-term loans, business lines of credit, and merchant cash advances.
Funding Term and Amounts
The maximum term length of our financing options is 3 years, and the shortest duration offered is 3 months. The term options that are provided to you upon an approval are determined by a variety of factors including industry, time in business, and current cash flow performance.
The funding amount that you can expect to be approved for ranges from $5,000 to $600,000. You are more likely to qualify for a higher amount if your cash flow is trending upward and if that trend is expected to continue. The total funding amount may be lower if there have been recent challenges to your business performance. Applicants should not expect to obtain more than 20% of annual revenue when borrowing.
We work to facilitate an amount and term length that works best for your specific funding purpose and that positions your business for success. SnapCap is a true partner and will ensure the loan is a positive for you and that the payback obligation not a burden.
SnapCap's Commitment to You
SnapCap has helped thousands of business owners obtain capital to further reach their business goals since being founded in 2012. We have been able to grow with the online lending industry by leading with customer service, transparency, and a commitment to the customer experience. If your business is at a point where one of our funding options will help you reach your goals, we hope you give SnapCap the opportunity to earn your business.