Ventury Capital
Is This Your Business?Author: Kaitlyn Short
Ventury Capital was founded by Kevin Harrington and Nick Bentley. Harrington was one of the first Sharks on the television show Shark Tank and worked as a real estate and business broker before founding Ventury Capital. Bentley is an author and radio show host, whose articles have appeared in Forbes. To qualify for a small business loan with Ventury Capital, businesses must have been in operation for over six months and have earned over $120,000 in revenue in the past 12 months. More established small businesses that have been in operation for over three years may qualify for larger loans and longer terms. Consumers that choose Ventury Capital should remember that they must have a credit score of 550 or higher.
Top Ranked Companies
The Good
- Approval Process
- Transparent Rates and Terms
- Variety of Financing Options
- No Prepayment Penalty
- High Availability
Approval Process
Ventury Capital's mission is to "help double the size of 100,000 small businesses in the next five years and create over one million new jobs for American citizens." The company has a simple, online application that only takes minutes to complete. Once they are approved, companies can receive their funding in as little as three business days.
Transparent Rates and Terms
Impressively, Ventury Capital posted the APRs for its term loans on its website where you could view them before you applied for funding. So many lenders hide this information from business owners until they have completed an application. With Ventury Capital, you can see what you may pay for a loan upfront.
Variety of Financing Options
Ventury Capital says it can provide businesses with "simple interest, monthly installment loans, and ACH (Automated Clearing House) loans." The ACH loans are based on future sales and have fixed, daily payments. The company states it will work with business owners who have poor credit ratings to try to find them financing. Ventury Capital helps startup businesses as well by offering specialized financing tailored specifically for those starting a business.
No Prepayment Penalty
None of Ventury Capital's loans have a penalty for paying them back early. Some of their funding programs even offer a discount for early payment.
High Availability
Ventury Capital can arrange financing for small businesses in all 50 states. The company claims it has helped finance businesses in almost 700 industries. The only industries that are excluded are adult entertainment and illegal/semi-illegal drug related industries.
The Bad
- Limitations
- Potentially High APR
- Limited Experience Information
Limitations
Ventury Capital does state it can help with financing for startups and businesses that have been in operation for at least six months and have at least $120,000 in annual revenue, but the financing for those types of businesses might not be a small business loan. Ventury Capital loans money to businesses throughout the United States.
Potentially High APR
While we like seeing a company that posts its range of APRs and term lengths on its website, the interest rates Ventury Capital lists are very high. The rates you have to pay for a loan as a small business, especially one that has not been in business very long, may be high. Small businesses may not qualify for traditional bank loans that usually have lower APRs than alternative lenders like Ventury Capital. Ventury Capital does explain that the cost of the loan may not be as important as how quickly an alternative lender can get you approved and get you the money; however, if you are interested in a loan with Ventury Capital, you need to be aware that you may pay a lot for it.
Limited Experience Information
We were unable to find information on Ventury Capital's website about when the company was founded, how many businesses it has provided loans to, or how much revenue it has to make loans. As you consider whether to enter into a loan agreement, it helps to know how much experience your lender has with providing small business loans. Potential customers would also benefit from learning whether Ventury Capital funds all the loans itself or if it works with financial partners who may provide some or all of the funding.
The Bottom Line
Ventury Capital has a quick online application that small businesses can use to find out if they qualify for a loan or other type of financing. The company even offers a calculator that allows you to see how changes in your company's time in operation, monthly revenue, and your credit score can impact how much you can borrow. If you are a fairly new small business or you have a poor credit rating, you may want to contact Ventury Capital to find out what kind of loan you can receive. There are a wide variety of other loan options. Be aware that the APR you pay for a loan with this company could be quite high, but Ventury Capital claims it can approve more businesses for funding who would not qualify for the lower APRs offered by traditional lenders. Ventury Capital can also provide funding much faster than a bank, which could make the additional cost of its loans worthwhile if you need financing right away.
