SnapCap is an online lender that offers businesses unsecured business loans and funding. Its solutions include short-term loans, merchant cash advances, and equipment financing. In this article, we cover SnapCap reviews and pricing. Ready to get started? Prequalify now.
SnapCap pricing and estimated APR is 19%–227%. Loan amounts range from $5,000–$600,000 with a repayment term of three to 36 months. Depending on the loan type, borrowers may be charged an origination fee, which is typically around 2%. Under normal circumstances, borrowers will receive the money through their bank account within 48 hours.
$5,000 to $600,000
APR (Annual Percentage Rate)
19% to 227%
3 to 36 months
Within 48 hours
SnapCap’s rates vary and are determined based on the type of loan, recent business performance, term, and loan amount.
Ready to get started with SnapCap? Prequalify now.
Top Lenders 2019
up to $250,000 for line of credit
Summary of Positive SnapCap Reviews
Borrowers who gave positive SnapCap reviews on the web appreciate the quick application process. Others love how easy it is to meet the company’s minimum qualifications. Excellent customer service was also consistently mentioned.
One lendee who gave a positive SnapCap review on Trust Pilot loves the very straightforward process that makes the application quick and easy. He also shared that the company’s staff provides reliable service and a professional approach, as well as demonstrates empathy towards its clients.
Summary of Negative SnapCap Reviews
As of the date this article was written (September 18, 2019), there are very few negative SnapCap reviews online. Others reported that the rates were high with short-term payback. A few reported that they didn’t receive any documents after the transaction has completed, such as the terms of the contract, so they weren’t aware of how and when the payments were due.
Top Lenders Picks From Fit Small Business
SnapCap Business Loans & Top Alternatives 2019: SnapCap, a loan marketplace owned by LendingTree, matches borrowers with lenders. In this guide, we selected the top six direct lender alternatives based on costs, terms, and qualifications to help you find a reputable lender that’s right for you.
Check out the list below of some of SnapCap’s features:
- Simplified process
- Same day approval, next day funding
- Expert funding advisers
- High approval rates
- Competitive rates
- And more
What types of loans does SnapCap offer?
SnapCap offers different types of business loans, including working capital, inventory loans, expansion loans, equipment loans, and small business loans.
What are the minimum loan requirements?
To receive funding from SnapCap, the borrower must meet the following qualifications: monthly gross revenue of $8,500 or higher (or at least $100,000 annual revenue), the business must be based in the United States with a minimum of six months’ tenure, the applying business owner should have a minimum FICO score of 500, and three months of business bank statements must be submitted.
How do I repay loans or cash advances?
A fixed amount is automatically deducted from the borrower’s business bank account on a daily or weekly basis. Also, the lendee may be allowed to prepay if they repay on time.