Swift Capital is an independent provider of short-term funding, specializing in merchant cash advances. In order to provide small businesses with funding, Swift Capital was funded in 2007 by CEO Ed Harycki. After decades of working in the banking industry, Harycki found that business owners were constantly struggling to access fast and simple working capital, and he wanted to create a quick and simple system for businesses to obtain funding. Since its founding, Swift Capital has provided over $400 million in funding to over 10,000 small businesses in over 425 industries across all fifty states, U.S. territories, and the District of Columbia.

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Typical Swift Capital Borrower

The typical Swift Capital borrower is looking for a way to receive quick funds up to $500,000. Even though Swift Capital’s requirements are lower than other top companies, the typical borrower exceeds all of the requirements.

Best Uses

These funds are typically used for inventory, machinery and equipment, or business upgrades.

Minimum Qualifications

  • 500 credit score
  • One year in business
  • $100,000/year current revenue

The Good

  • Best price guarantee
  • Easy application process
  • Fast funding

Cash Advances with no APR

One of the first benefits prospective borrowers will find when visiting Swift Capital’s website is that they offer cash advances. For these merchant cash advances, there is no APR, but instead there is a required premium fee on the advances. These premium fees are one-time costs, instead of yearly or monthly rates, and with Swift Capital they range from 9.9+ percent. The rate depends on the amount of money borrowed and the risk incurred with each loan. Again, this is not an interest rate, but a one-time fee that is only charged at the beginning of the loan process.

Swift Capital is able to provide these one-time fees because the cash advance repayment time is typically between 6 and 12 months. Instead of loan repayment which is normally drawn out over years, businesses are encouraged to repay their cash advances quickly. Swift Capital’s website notes that typically advance repayment is conducted by a daily deduction system that comes straight from the business checking account. For many businesses, this cash flow method is preferred to weekly and monthly repayment. However, Swift Capital’s website also mentions the option of weekly payments for qualified businesses.

Offers Large Sums of Capital

Another notable benefit is that Swift Capital offers up to $500,000 in funds. Compared to some other independent lenders or investors, this amount is substantially higher. While each borrowing candidate must be evaluated for their specific needs, the potential to borrow up to $500,000 from Swift Capital will be an enticement for many businesses looking to avoid banks.

Swift Capital’s “Best Price Guarantee” is extra assurance that they can deliver the best offer to each individual business owner. The Best Price Guarantee states that in the event that a business is approved by purchaser, the business will receive an approved offer from a competing purchaser at a lower discount rate than that which is offered by the original purchaser. The purchaser will beat the discount rate or pay the business $500.

Easy Application Process

The application process is simple and quick with Swift Capital, as was the main goal by its founders. The application is free and businesses can typically know whether or not they are approved within five minutes. In order to apply for funding from Swift Capital, businesses must be able to provide the following information:

  • Average monthly sales figures
  • Social Security Number of business owner
  • Business tax ID
  • Some applications will require additional information (e.g. four months of bank statements)

Fast Funding

The Swift Capital website also advertises that they can deliver funds within 1 hour for smaller advances. Bigger cash advances typically require 24-72 hours to deliver the funds. Even this additional time could still be much faster than some banks can disburse loans.

The biggest benefits of Swift Capital are listed below:

  • One-time premium fee on cash advances (between 9.9+ percent)
  • No interest fees on cash advances
  • Up to $500,000 in funds
  • No origination or closing fees (besides the one-time premium fee)
  • Free application process
  • Approval within five minutes
  • Funding within one hour (for smaller amounts)
  • Best Price Guarantee

The Bad

  • Short repayment terms
  • Lack of transparency


While these are arguably not bad aspects of Swift Capital, the challenges of receiving funds from Swift Capital are mainly due to the requirements that each business must fulfill. These requirements include:

  • Being in business for one year
  • Bringing in $100,000 of annual revenue
  • A personal minimum credit score of 500
  • (Occasionally) four month’s bank statements for evaluation

These requirements are certainly not the most rigid you will find among other small business lenders. Many big banks require larger monthly revenues and more time in business.

Short Repayment Terms

Depending on your business and your financial situation, the repayment schedules that Swift Capital offers could be seen as negative. Cash advances from Swift Capital are expected to be repaid in 6 to 12 months. Likewise, most businesses that borrow money are expected to make small daily payments that are deducted directly from the business checking account each business day. While Swift Capital does mention that certain businesses may qualify for weekly payments, this method of frequent repayment may not work for many businesses. These expected repayment methods should be a central consideration for businesses looking to borrow.

Lack of Transparency

While there are many benefits to using Swift Capital, we find it troubling that the company is lacking a great deal of transparency. We would like to see more information regarding funding, APR range, closing fees, and prepayment penalties. Without this information it is difficult for business owners to determine if Swift’s services are the right fit for their needs. It also makes it difficult for our team to rank their offerings to other companies in the industry.
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The Bottom Line

When it comes to Swift Capital, the bottom line is that this an excellent option for quick, short-term cash. Businesses looking for fast funding that they will repay within a short amount of time will find exactly what they are looking for with Swift Capital. Not to mention, that Swift Capital offers larger amounts of money than some other lenders.

Based on Swift Capital’s website, it appears that the founders are very familiar with the banking industry and have thus attempted to create solutions that will bypass some of the challenges small businesses face when applying for business loans.

While there are definitely very clear benefits to borrowing from Swift Capital, it serves a very specific niche of businesses—and for that niche, it may very well be the perfect solution.
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    April 30th, 2016 Center, TX

    Beware of Swift Capital. They call you and tell your approved and then move you through loads of paperwork and then tell you don’t qualify only months after successfully paying loan back. Reminds me of dishonest Home closing. I wanted to thank Matt Spann for wasting my companies time and efforts. DO NOT DO BUSINESS WITH SWIFT CAPITAL!!

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