Spotcap

Spotcap started operating in 2014 and have been growing at an astounding rate with so many small and medium-sized businesses lacking finance they need in Australia.

Spotcap around the world

Spotcap also operate in four other countries including the United Kingdom, New Zealand, Spain and the Netherlands – providing SME’s with finance online with no paperwork and ne face-to-face meetings.

Spotcap loan can be used for a variety of business endeavours including purchasing equipment, purchasing a new vehicle, to fund expansion, to fix or replace office equipment or evening as working capital.

What they’re offering

If you’re looking for an online business credit provider with a difference - Spotcap is definitely worth a try. They’re an alternative credit provider that offer unsecured business loans of up to $250,000.

Spotcap’s loans can be obtained entirely online – which means you can save both time and money by not having to travel to a branch or sit on the phone for hours.

Service with a difference

Unlike large banks who don’t have the time to add a personal touch to what they do – Spotcap’s team are focused on each individual customer and therefore have superior service.

Spotcap is a business credit provider that offers between $10,000 and $250,000 in business credit to already existing businesses that have been operating for a period of 18 months or more.

The Spotcap difference

Spotcap’s success lies in the fact that their unsecured business loans can be obtained online very quickly thanks to their team of highly experienced underwrites and a “propriety algorithm” that is able to assess a business quickly and accurately.

With this lender you’re looking at a turnaround time of between 24 and 48 hours, however, they are able to inform you if you qualify and for how much, by pre-approving you, in just hours.

Better to deal with than a bank

Spotcap is certainly better to deal with than most banks since their quick loan application requirements are not as stringent, they offer a completely paperless application and you get excellent customer service.

How they charge for credit

They charge interest on a monthly basis and an origination fee of between 2% and 3% of the total value of the loan as a once-off payment. They do not charge any annual fees or ask you to pay early repayment penalties.