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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.
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.  


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.


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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38 Reviews

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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.

3 years ago

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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!!!!

5 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

4 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.

4 years ago