Seek Business Capital is a non-traditional lender that specializes in funding procurement and provides a variety of loans for small businesses such as startup loans, unsecured credit lines, mortgages, insurance, credit cards, and business consulting services. It is best for startup business owners who need funding between $5,000 and $500,000 to get their business off the ground.
Seek Business Capital Pros and Cons
Provides a variety of products depending on your business’s needs
Terms and fees are not stated clearly on their website
Offers startup loans with no collateral requirement
May charge additional fees
Fast and easy application process
Who Seek Business Capital Is Best For
- Business owners seeking assistance to get funding: Seek Business Capital is not a traditional lender—it specializes in funding procurement from third-party lenders. It submits applications to third-party lenders on behalf of the borrowers who need funding based on their qualifications and needs.
Seek Business Capital Costs and Terms
Business Line of Credit
Small Business Startup Loans
$500 to $500,000
$1,000 to $1 million
$500 to $250,000
Annual Percentage Rate (APR) Range
2.9% to 40%
2.25% to 5.32% for SBA loan options
One to seven years
Six months, 12 months, five years
Typically up to 25 years
As soon as 24 hours
24 hours to two weeks or more
30 to 45 days
Seek Business Capital offers a variety of loan options for small businesses through funding procurement. The loan amount is based on the type of loan and ranges from $500 to $1 million. Because the loans are procured from third-party lenders, interest rates, costs, and terms vary depending on the lender. The speed of funding for term loans can be as little as 24 hours, line of credit can take up to weeks or more to get funded while small business startup loans can take between 30 to 45 days.
Do You Qualify for Seek Business Capital Financing?
Business Line of Credit
Small Business Startup Loans
Personal Credit Score
680 or higher
630 or higher
Varies per lender
Time in Business
More than three years
More than one year
Six months or less
$300,000 or more
$180,000 or more
Varies per lender
The minimum credit score required to qualify for business financing depends on the type of loan and the lender. For a business line of credit, a minimum credit score of 630 is required while a credit score of 680 or higher is required to qualify for term loans. Lenders will also require a copy of your credit history, recent bank statements, and income tax returns.
Seek Business Capital Application Process
Seek Capital is a company that specializes in funding procurement from third-party lenders. You can request funding through their online application where you should state the amount of funding that you need and the purpose of financing. Additional information and documentation may be requested by the financial expert assigned on your account.
Seek Business Capital will then move to the underwriting process and provide you with a preapproved estimate within the same day. You will then review the amount, terms, and rates of your preapproved offer. Once you agree to the offer, Seek Capital submits applications to third-party lenders on your behalf and, depending on the loan type, the funds will typically be available within three weeks.
Seek Business Capital Alternatives 2020
Same-day funding on a short-term loan up to $250,000
Low credit borrowers needing short-term funding up to $500,000
Flexible short-term loan up to $500,000 with terms from 13 to 52 weeks
Revolving credit up to $100,000 with easy-to-meet qualifications
Comparing short-term funding options on a free marketplace
What Business Owners Should Know About Seek Business Capital
- It doesn’t lend you the money: Seek Business Capital helps business owners find the right financing option for their funding needs through funding procurement from third-party lenders. The loan does not come from Seek Business Capital—it only processes your loan applications.
- It charges fees for the service: Seek Business Capital charges fees for helping you procure funding from third-party lenders. Aside from interest rates and closing costs, you may need to pay additional fees associated with its service.
Most Helpful Seek Business Capital Reviews
Most of the Seek Business Capital reviews available online are a mix of positive and negative ratings. Customers who left positive reviews are happy with Seek Business Capital’s great customer service and its easy application process. Clients who left negative reviews expressed disappointment with Seek Business Capital’s high service fees and for not being straightforward and transparent with the charges and loan process.
Easy application process
A client who left a positive review on Consumer Affairs mentioned that there was a lot of information needed from him during the application process, but the Seek Business Capital staff made it easy. He is happy because he received his funds in a timely manner. According to him, Seek Business Capital looks out for the best interest of their clients and makes the funding process a breeze.
High fees and lack of transparency
A customer who left a negative review on Consumer Affairs said that he was promised $40,000 in funding. However, Seek Business Capital only got him $1,700 and charged him $1,650. According to him, the company is not transparent and will try to rush you through the sign-up process.
Seek Business Capital Frequently Asked Questions (FAQs)
Every funding situation is unique, and small business owners should seek out answers before selecting a lender. We’ve gathered some of the most FAQs about Seek Business Capital below and answered them.
How do I qualify for a startup business loan?
The best way to qualify for a startup business loan is to have good credit, ideally a credit score of 680 or higher. However, different types of startup loans have different sets of requirements. For example, to qualify for a 401(k) startup business loan, you must first have money in a 401(k) or other qualifying savings account.
What types of loan does Seek Business Capital offer?
There is a small business loan product for nearly every type of business need. Seek Business Capital can help you apply for term loans, business lines of credit, startup loans, invoice financing, and merchant cash advance (MCA). It can also assist you with Small Business Administration (SBA) loans, equipment financing, Paycheck Protection Program loans, 401(k) rollover, business credit cards, and personal loans for business.
What are my funding options if I have time in business or revenue?
When your business is more established, or you have revenue, you might qualify for small business loans instead of a startup business loan. A business line of credit is an option if you have been in business for over a year. You may also qualify for invoice financing if you have open accounts receivable (A/R). Short-term loans may also be available for you so you can get capital for your company. To qualify for short-term loans, you typically need to be in business for about three months and have some revenue.
Seek Business Capital is best for startups and small business owners who require financing. It offers a variety of business loans through funding procurement from third-party lenders. Borrowers should keep in mind that Seek Business Capital does not lend the money—it only assists business owners in applying and qualifying for the loan they need.
If you aren’t sure if Seek Business Capital is right for you, then this article on the best quick business lenders is a review of our top choices. In this guide, we compared the top providers, according to their terms, costs, and qualifications.