SnapCap began in 2012 during the United States’ financial crisis. Their main objective as a loan provider is to evaluate the overall success of a business rather than to fixate on an individual’s credit score, which is how a lot of banking institutions evaluate eligible loan borrowers. This intention has led SnapCap to be able to lend large amounts of money to businesses all over the country. In this last year, SnapCap lent $115 million in business loans.

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Typical Borrowers

The typical borrower takes out a loan anywhere from $10k to $100k for 3 to 12 months. Many borrowers use the funds to expand their business.

Best Uses

Companies can choose to use the loan for things such as payroll, marketing, equipment, expansion, and many other things.

Minimum Requirements

There are no requirements for how old a business must be to qualify – even new businesses may be approved. A credit score is also not a factor when applying. There might be minimum revenue requirements for you to be approved, but these are not displayed online.

In general, this loan is good for…

  • Startups
  • Businesses with no collateral
  • Businesses seeking short-term loans

If your business is looking for a better loan option, check out Kabbage.

The Good

Excellent Interest Rates

SnapCap offers some of the best interest rates in the industry. According to the company’s loan calculator, if you borrow $100,000, for instance, you will pay $0.19-$0.25 on the dollar—depending on their credit score.

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

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 banks 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.

The Bad

Unknown Loan Specifics

The website provides very little specific information about the loans that are available, even after you’ve dug around for a little while. This lack of online information is a major drawback, and will deter many borrowers from applying.

Missing 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 a loan 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.

New Business

SnapCap has only been around since 2012 – less than 5 years.

Compare to the top rated business loan companies

The Bottom Line

The bottom line for SnapCap is that their interest rates are good enough that it is worth doing some digging. While the website definitely lacks substantial answers to important questions (such as specific requirements for eligible borrowers), companies who are willing to do their research may find that SnapCap is a preferable lender.

We like that they have no credit score or business maturity requirements, but we wonder if this is too good to be true. Those who need to borrow over $50k would be better off looking at another business loan company.

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*Star Rating is determined by evaluating APR range, minimum credit score requirement, revenue requirement, length in business requirement, and other related approval data.

More Information

Types of Loans Offered

Rates Offered

19% – 25%
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Term Lengths

1-18 Months
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The Borrowing Process

SnapCap uses a quick online application to ask general questions about the business. The company generally reviews the applications and makes a decision within a few hours.

How to Apply

To apply online, you’ll need to answer the how long your business has been in operation, your annual revenue, and your approximate credit score. Then you will fill out some basic personal information like name of business, first name, last name, and email address. Finally, Snapcap will proceed to ask for further information about the business and the owner.


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2 SnapCap Reviews

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  1. User Score


    August 25th, 2016 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.

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    January 26th, 2016 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!

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