Snapcap was born out of the financial crisis and finally opened their doors in 2012. We are committed to increasing small business access to credit by delivering complete and transparent information to our clients.
Snapcap was built on the simple idea that lending doesn’t have to be complicated or solely based on your personal credit score. Check out all of our business lending options; we’re sure you’ll find the right solution for your business!
About Our Loans
At SnapCap, a simple review of your bank statements and some specifics about your business allows us to accurately approve and fund your business. Instead of a rigid 4-8 week review and the back and forth shuffle, we can offer you loan terms in just a few hours. What sets our business loans apart from other lending options are a few key things:
- Fast Approval Rate –We can get money in your account within 48 hours from the time you submit your application.
- No Collateral –Securing a business loan with us comes with no collateral requirements. Many banks require collateral to secure a loan or they rely on the business owner to have a very high personal credit score.
- Paperless Application –We are convenient for any business owner since you don’t need to submit anything by mail or in-person.
- Simplified Lending Process –We cut through the minutia of big bank lending so we can focus on lending. We only require a few recent bank statements, proof of business ownership, and a profitable outlook.
Check out our lending calculator to see how we compare a business loan with Snapcap, MCA or the SBA.
Applying for a Business Loan with Snapcap
Since most borrowing is reactive and oftentimes unplanned, the approval review and processing needs to be accelerated.
With our Express Review application, you will be asked three simple questions:
- Time in Business
- Annual Revenue
- Credit Quality
- Contact Information:
- Name of business
- Business owners name
- Email address
- Business Information:
- Owner information
- Year(s) in business
Check out our video to learn more about our application process and our business.
Types of Business Loans
If a business has good cash flow, loyal customers, and a profitable outlook, we believe they deserve a chance to finance their business needs and keep their doors open.
- Working Capital Loans -Working capital is typically used as a financial metric to determine the financial health of a business by evaluating current assets minus current liabilities. Current assets are items that can quickly be converted to cash, while current liabilities are short-term obligations due within one year. These types of loans are a form of “all-purpose borrowing,” meaning you can apply these loans to nearly any aspects of your business to further your growth wherever it is needed.
- Inventory Loans -Inventory loans, also known as inventory financing, are lines of credit or short-term loans designed to assist small business owners in purchasing inventory. Inventory funding is used for exactly what it sounds like – to purchase additional inventory needed to run your business.
- Expansion Business Loans –Expansion loans are meant to help growing businesses. Growing businesses often turn to expansion business loans if they are hiring more employees, increasing their stores or inventory, or just ready to take their business to the next step! Financial growth and internal business expansion go hand in hand.
- Equipment Loans -Equipment loans are loans to buy business equipment that are secured by the equipment itself. Instead of putting up collateral such as your house or your business assets, you use the item you're purchasing as collateral. Using this method, the business owner will own the equipment once the loan is paid off. This is a good solution for business owners that don’t have a lot of collateral.
Feel free to give us a call at 1-800-843-0130 to speak with a loan adviser or just to find out more information!