SnapCap

Name: SnapCap
Rating: 4.4

4.4

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38 User Reviews

6.6

Overall Score

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4.4

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38 User Reviews

6.6

Overall Score

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The Good

The Bad

Bottom Line

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Company Details

Maximum Loan Amount

$600k

Quickest Time to Funding

1 Day

Time in Business

12 Years

Number of Reviews 38

info Source of Information

Author: Kaitlyn Short

LAST UPDATED: April 13th, 2020

Since its founding in 2012, SnapCap has worked to help small businesses by reducing the complexities associated with the traditional small business lending process. SnapCap offers a better way for small businesses to borrow by focusing on performance-based financing, oriented towards the present health of a business. Personal service combined with real-time evaluation technology makes it simpler to provide financing solutions with greater speed and accuracy.

In 2017, SnapCap's non-lending assets were acquired by LendingTree.

Consumers that choose SnapCap should remember that they must have a credit score of 550 or higher.

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The Good

Online Loan Calculator
No Required Time in Business
Fast Funding
Multiple Loan Types

Online Loan Calculator

The loan calculator that SnapCap offers also gives prospective borrowers the option to adjust your credit score, repayment term, and loan amount. This calculator is incredibly useful for prospective borrowers who are deciding who they would like to borrow from and planning out their estimated monthly budgets.

No Required Time in Business

With SnapCap, business owners can obtain the financing they need to launch new products or services. The SnapCap platform enables businesses to get the capital they need, even when banks turn them down. In contrast to other loans, SnapCap loans do not have an allotted amount of time that companies need to be in business before applying. Even startups can apply.

Fast Funding

While many other lenders can take weeks to disburse funding, SnapCap offers a turnaround of 48 hours. This short time frame gives businesses the opportunity to receive and implement funds quickly.

A majority of applicants for online business loans cite quick funding turnaround as their reason for choosing an online lender, so SnapCap's fast funding might make it an attractive choice.

Multiple Loan Types

SnapCap offers four different types of small business loans including working capital loans, inventory loans, expansion loans, and equipment loans. The company's website also provides a significant amount of information regarding these short-term loan options as well as information about unsecured loans and secured loans.

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The Bad

Lack of Information

Lack of Information

Prospective borrowers should be aware of the information that the SnapCap site is missing so that they can know to ask these questions if they apply for small business loans from SnapCap or if they pursue a conversation with the SnapCap team. We do not know if they have prepayment penalties, what the minimum revenue requirement is, or what fees they have.

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The Bottom Line

The bottom line for SnapCap is that their interest rates are good enough that their services are worth looking into. SnapCap offers four different competitive short-term loan options including working capital loans, inventory loans, expansion loans, and equipment loans. While the company's website definitely lacks substantial answers to important questions (such as specific requirements for eligible borrowers), business owners who are willing to do their research and compare other lenders may find that SnapCap is a preferred lender.

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User Reviews

Star Rating

4.4

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38 Reviews

Review Breakdown

5 grade

79%

4 grade

3 grade

2 grade

1 grade

11%

Sentiment Criteria

Value

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Quality

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Service

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Trustworthiness

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star star star star star

Mel Dumas Indianapolis, IN

My contact Kyle O.... listen to my concerns / needs at the beginning of the loan process.. then worked with me thru numerous options.. even when we needed to confirm info with people from my corporate office.. he was extremely certain that we would work thru these issues... popeyes has recently been sold to RBI .. and most of the common contacts are not in play... and this made closing a little difficult with respect to the verification process...

6 years ago

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Joyful Oak Park, MI

Very easy loan process. All terms were explaining perfectly. Calls and emails were immediately answered. Loan approval was speedy fast, less than 24 hour turn around time and after agreeing to the terms, the funds were deposited the next morning. So glad we went with a trusted name! Was afraid of applying for a loan for our business, first time ever doing this, but we are truly satisfied. Larry C. was our go to person for questions and explanations. He was wonderful. His voice is so kind you would think he was smiling the entire time. Very positive attitude.

6 years ago

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Laura Anderson Charleston, SC

I felt compelled to write this review because of the service delivery provided to me by Colin at SnapCap and the quick access to the money my business needed for expansion. The loan was deposited into my bank account 3 days after applying. This was my first time working with SnapCap, and I'll be sure to do business with them again if the need arises.

8 years ago

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PBL Kansas City, MO

We received a large order and we needed capital quickly to purchase parts and material. A traditional loan would have taken weeks, and with SnapCap we provided bank statements and had the money in our bank account the next day.

6 years ago

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Arthur Chatman Jr-CEO Houston, TX

Snap cap to a true approach to my lending needs. They just didn't throw me a loan just to be loaning me business capital. They took a long hard look at my numbers a offered a reasonable loan amount at terms of repayment that fits my needs.

6 years ago

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Gerald McDonough, GA

It was a pleasure working with Matt. He was very professional and kept us informed of the process and progress of our loan application the entire time. He made sure we understood the loan options available to us so we could make a choice that best fit our business needs.

6 years ago

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JM Logging and Lumber Llc

Chris,and everybody at snapcap is totally awesome. With my busy schedule they probably didn't think that of me but they were very accommodating and got done what I requested in record time.would recommend this company to anyone that doesn't have the time for traditional bank loans and needs quick funds.

6 years ago

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Neil Orlando, FL

Chris help me a lot during the process which was very smooth and fast. Everything was disclosed to me during the process and funds were were available within hours. Thanks Again!

6 years ago

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Bruce Warren Burns Flat, OK

Honestly - this is a great service. Unsecured quick business loans (1 day) are not going to be at anything like discounted interest rates of course - but if you qualify for this there is no better service available.

6 years ago

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R disappointed Newport, WA

I was very happy with the staff, and the process was easy. However, during my conversations with the staff, I asked what the interest rate was. I was told it was a little over 20%, which is high, but a lot of credit cards are even higher these days so I took the offer. After completion of the process, having been walked through it with an underwriter over the phone, I find out that my interest rate is actually 66.86% interest. WOW, didn't even know that was legal, and was not made aware of it prior to finalization of the process. I could have gotten a better rate from a loan shark. Very disappointed!!!

6 years ago

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Ryan Brock Indianapolis, IN

I had a smooth, focused experience the entire time. I gave Larry, my rep, the information he needed, and he was high-contact as he got me my offers and helped me make a decision and move things forward.

6 years ago

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Shahinaz Soliman Torrance, CA

Awesome, Awesome, Awesome. Great professional people to work with, very realistic, and understanding. I got my life-saving cash in a heartbeat. Thank you! SSoliman Torrance, California

6 years ago

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Don Bixby, OK

Very disappointed in my experience with SnapCap. I talked with Andrew very nice person, told me should have an answer in 2 days. 4 days later I had to follow up with him. OH he was missing a piece of information. Why didn't he call me and tell me? Anyway 4 or 5 days after that I get a canned email saying they would not be able to help me. I called Andrew 4 different times over 2 days to find out why with no answer. He always answered immediately when we were in the sales mode. They wasted a week and a half of my time waiting for them now I have to start all over with someone else. Very disappointing. I would strongly Not recommend them.

5 years ago

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Bob E. Marion, IL

It was simple and fast! the service was friendly and I had to settle for way less than expected even though an alternate source offered me 40% more money at better terms.

6 years ago

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Lisa Akscyn Ford City, PA

The process of application to funding was very fast, professional and straightforward. I highly recommend SnapCap for those businesses in needs of funds quickly. Lisa A.

6 years ago

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Chris Chicago, IL

Clare and Ben were really fantastic to work with, and they made the process simple and straightforward. Really happy I found them!

6 years ago

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JOE MORROW Cape Coral, FL

Quick and easy. The entire transaction took twp phone calls and five emails. Kyle was awesome and got the job done with no worries on my end.

6 years ago

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Sergio Casas-Silva San Diego, CA

Good communication and friendly but professional approach, Keith was attentive and responsive, very positive experience.

6 years ago

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Matthew Montes Loomis, CA

Larry was able to get our new business funded within a few days with no business credit and so so personal credit. We look forward to future business with SnapCap.

6 years ago

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Dianne Maxey Hallsville, TX

The whole process took less than 24 hours. We received funding the next business day. Quick and Painless...We will be a customer for a long time.

6 years ago

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Audrey Lindsey Bethel Park, PA

I had a very good experience and Matt was very helpful. I wish the terms of the loan could have been weekly instead of daily. My accountant was not too happy about this.

6 years ago

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steve

Lets face it going to these kinds of companies for all of us small business's is a royal pain to begin with. Do yourself a favor and use someone else, these people were very rude and did not return our phone calls as promised. we did not use them just for this reason, If your going to be charged super high rates and short term pay back at least use someone that acts like they care. WE found that company and it sure wasn't these knuckle heads. Anyone can get reviews that say they are great, But these people are not in that category!!!!

6 years ago

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John Davis Charleston, SC

The process was easy. My account manager was great when it came to requesting and reviewing the additional info needed for approval

7 years ago

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Rodney Soto Charleston, SC

SnapCap helped me get the funding that I needed for my business. Eric and Greg were professional and knowledgeable throughout the entire process!

8 years ago

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Rikelly Surprise, AZ

Claire made the process smooth. Despite my busy schedule she kept on top of the process and always kept me informed.

6 years ago

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Mr Cook Conover, NC

Misleading , they will tell you anything to get you to sign.. and will they tell you ,that they made a big mistake on your paper work , they promised to fix there mistake, stay far far away

5 years ago

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Renato Acton, CA

Very straight forward process with a demonstrated empathy toward the client / customer.

6 years ago

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Chris C. Honolulu, HI

Service was fast and great! They're really on top of things and communicate with you on your schedule.

6 years ago

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Roy Ridenour Hugo, OK

Easy to work with!!! Awesome customer service, with great explanation of the process.

6 years ago

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Shay Sellars Newburgh, NY

I really enjoyed working with Mike T. He was extremely responsive, instructive and down-to-earth.

6 years ago

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Andy Braun Tucson, AZ

They made the whole process easy and painless, they were honest straightforward and friendly

6 years ago

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David Winter Garden, FL

Quick, easy and the did what they said they’d do right from the start.

6 years ago

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Jeanette Alexandria, VA

Keith was easy to work with, made everything really clear and efficient.

6 years ago

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Luke Houston, TX

Very easy and quick...The representative was very friendly and helpful

6 years ago

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C Dalton Keeling, VA

Fast service and so much easier than I had expected.

6 years ago

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Lorayne Carver Englewood, CO

Not sure what to say. Filled out all the forms, sent signed documents, they requested additional information, sent what I had, and never heard back.

6 years ago

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Arif Amaani Seattle, WA

Snap cap was great service. It was fast and smooth.

6 years ago

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Randy Famacion Niles, IL

Great details and prompt response. Very professional.

6 years ago