CAN Capital is the largest source of alternative funding for small businesses in the United States. Since 1998, the company has provided almost $6 billion in capital to small business, assisting roughly 125,000 small and medium-sized businesses throughout North America.
CAN Capital requirements include a 680 credit score, two months in business, and an annual revenue of $150,000. Entrepreneurs come from a variety of industry backgrounds. Often, those who borrow once from CAN Capital come back and borrow more (70 percent of customers renew).
Business loans from CAN Capital are often used for inventory, equipment upgrades, business renovations and every day expenses.
- In business for two+ months
- Making at least $150,000 annually
- 680+ credit score
- Transparent information
- Positive reviews
- Pre-payment discount
CAN Capital is a great funding option for new and small businesses. CAN Capital will loan anywhere from $2.5k to $150k. The average amount loaned to small businesses is around $46k. The company offers loan terms anywhere from 4 to 24 months, while the average life of a small business loan sits around 13 months. Additionally, the average interest rate of one of these loans is 27.3 percent.
Positive CAN Capital Reviews
Every CAN Capital reviews we have on our site is positive. Entrepreneurs say that CAN Capital employees are great to work with. The company usually provides quick funding and always makes the funding process smooth and easy.
The main reason CAN Capital has is so great for business loans is because they have low requirements that are displayed online. They even have a calculator to estimate costs. Other lenders will only tell you their cost and requirements after you apply. With transparent information from CAN Capital, you can decide right away if this is a good loan for you and your business.
Actually, CAN Capital rewards companies that payback their loans early with a six percent prepayment discount on the FULL outstanding balance after 90 days (if the account is in good standing). When you apply for a loan with CAN Capital, this information is in their Business Loan Agreement.
Loans from CAN Capital are ideal for businesses that need fast access to small amounts of cash (two days to funding). Most banks won’t even look at loans under $50,000, and many alternative lenders only provide minimum loans of $5,000. With CAN Capital, you can get a $2,500 loan. To qualify for higher loans, you must be making more than the minimum requirement each month.
- Interest rates
- Small loans
- Missing information
The majority of people think that the most important aspect of a business loan is the interest rate, and we tend to agree with them. When you take out a loan with CAN Capital, you will pay about $0.35 in interest for every $1 you take out. These calculations are based on CAN Capital’s own calculator – taking out a $100k loan for 12 months.
However, these rates go down with your term length. For example, if you only need to borrow cash for four months, CAN Capital charges around $0.15 per $1 borrowed.
The annual revenue requirement is high with a minimum of $150k. The highest amount CAN Capital will lend is $150,000 – slightly lower than the average. But if you want to access this much cash, your business needs to generate around $1 million in monthly sales. As far as we can tell, no other lender has such high revenue requirements.
CAN Capital has no prepayment penalties and no closing costs. Even though these are great features, they do not display this information on their website.
Frequently Asked Questions
How long will it take to receive funds from CAN Capital?
CAN Capital can provide funding in approximately two days.
Does CAN Capital require collateral with its loans?
CAN Capital does not require any collateral as long as meet all the necessary requirements. Collateral might be required for those who have sub par credit scores or income.
Does CAN Capital have prepayment penalties?
CAN Capital does not have any prepayment penalties.
Does CAN Capital charge origination fees?
CAN Capital does charge a two percent origination fee during the loan process.
Does CAN Capital charge closing fees?
CAN Capital does not charge a closing fee when finishing out the loan process.
How can I contact CAN Capital?
You can contact CAN Capital by calling or by visiting CAN Capital’s site directly and filling out the loan application.
Types of Loans Offered
- Business Loans – $2,500 to $150,000
- Merchant Cash Advance – $5,000 to $150,000
- Installment Loan – $50,000 to $100,000
- TrakLoan (cash flow loan) – $2,500 to $250,000
15 to 35 percent
Find Out What You Qualify For
Borrow for 4-24 months
The Borrowing Process
If you meet these two qualifications and are interested in a loan from CAN Capital, you can prequalify for a business loan in ten minutes with this simple information. Once you fill this out, you will need to enter in more information, verify your identity, confirm the terms of the loan, and e-sign a loan agreement. Your chances of receiving funding with an alternative lender like CAN Capital are much higher than receiving funding from a bank. In the last year, the average alternative funder has approved between 62.7 – 61 percent of applicants.
Before applying for a business loan from CAN Capital, make sure you meet the minimum requirements:
- Two months in business
- $4,500 in monthly revenue
Once you fill this out, you will need to enter in more information, verify your identity, confirm the terms of the loan, and e-sign a loan agreement.
Your chances of getting funding with an alternative lender like CAN Capital are much higher than receiving funding from a bank. In the last year, the average alternative funder has approved between 62.7 – 61 percent of applicants.