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Lenders Name: Capify Business Loans

Loan Amount: $5,000 to $300,000

How to Qualify for a Loan

  • Been trading for more than six months
  • Monthly turnover is more than $10,000
  • Provide bank statements and details like your Driver License and ABN
  • For loans over $75,000, you'll also need to provide basic financial statements

Available Products from Capify

  • Unsecured Small Business Loans
  • Secured Small Business Loans
  • Merchant Cash Advance (MCA)

Capify's Background

Capify is one of Australia's top small business lenders. They've been around as a company for over 16 years and operate to serve a clear mission:

"To help small businesses by providing simple, quick and responsible access to business funds."

Being around for this length of time qualifies them as the most experienced alternative lender in Australia. In this time, they have financed over $500 million to businesses all around the world. Capify currently operates in both Australia and the UK, after exiting both the US and Canada in recent years to focus on their core non-bank, high growth small business loan markets. In 2019, they validated this decision by securing $135 million in funding from Goldman Sachs. Capify's CEO, David Goldin, plans to use these funds to double their annual lending in 2020. They're a proud member of the Australian Finance Industry Association and have won countless awards over the last decade.

What Makes Capify A Great Lender

  • Experience: Capify is the most experienced, non-bank lender in Australia. They've been around for over 16 years and have global experience funding businesses and providing a superior customer experience.
  • Flexible: Their platform is simply one of the best. The application process is exceptionally straightforward, requiring minimal documentation and information to assess the application. Once approved for funding the customer will typically receive their funds in less than 24 hours.
  • Innovative: Capify was the first to offer Merchant Cash Advances in Australia. Their focus on this unique product enhances their position in the market and allows them to help more small businesses all around Australia.

Products Offered By Capify

Unsecured Small Business Loans and Merchant Cash Advances (MCA) are offered by Capify. For businesses looking to take their operations to the next level, their small business loans start from just $5,000. However, they can fund up to $300,000 for companies that have scaled a bit already. This means that Capify is able to grow with your business and provide funding long into the future. They’re paid out in a lump sum and offer flexible repayment options over a term of 3 to 12 months. This allows you the flexibility to manage your business cash flow how you see fit. The application takes less than 10 minutes and is very straightforward. You won't need to provide financial reports, tax returns or BAS if you're looking for a loan of less than $75,000. This low requirement for documentation means you get a fast decision on your application within a 24 hour period. Capify's small business loans feature a fixed daily repayment schedule, allowing you to manage your business finances and budget more effectively.

A Merchant Cash Advance is an exciting alternative to traditional unsecured business loans. An MCA's primary purpose is to match the cash flow of your business. How does this work? Well, a small percentage of your credit card and EFTPOS terminal sales are repaid daily over the term of the cash advance. This flexibility means you'll have lower repayments during slower periods and higher repayments when you have the cash flow to cover it. There's no security required, and the period of an MCA can range from 3 to 12 months. An MCA from Capify might be a great product to consider if your business accepts credit cards and would benefit from daily repayments that align with your variable cash flows.