SkyCap Funding

• Available Capital
• Variety of Repayment Options
• Outsourcing Available

Available Capital

Funding ranges from $2,500 to $500,000. All financing options are unsecured, meaning they do not require collateral. SkyCap Funding does not disclose its requirements for loans. A potential client will have to call and discuss this information with a representative.

Variety of Repayment Options

SkyCap has three repayment options, so there really is something for everyone:

• ACH (Automated Clearing House) that automatically debits your account on a daily basis (Monday–Friday).
• ACH that automatically debts your account once a week.
• Daily repayment amounts based on a percentage of your credit card sales. This means that business owners are not locked into a fixed amount if their revenue goes down and gives them more flexibility all around.

Outsourcing Available

SkyCap Funding is a direct lender for its own services and application. However, if it is unable to fund a business itself, it will outsource to one of its partners to try to find a good fit for the applying business. If the applicant is able to secure funding with the partnering company, SkyCap Funding receives a fee of 5 to 10 percent of the loan amount.

• Lack of Transparency
• Unknown Terms, Interest Rates, and More

Lack of Transparency

SkyCap Funding has a simple application that does not require the same extensive documentation that a bank would ask for. However, applying businesses do not know the requirements before applying (much like working with banks). Startup or struggling businesses will not be likely to find financing solutions until those basic requirements are met.

Unknown Terms, Interest Rates, and More

As with any unsecured financing and especially with what is essentially a business cash advance, the interest rates are going to be higher than with a traditional bank or SBA loan. Of course, this is just a guess because SkyCap Funding does not display interest rates on site. We also couldn't find term lengths, minimum application requirements, or fees. Find Other Business Loans