Spotcap Business Loan Review

According to Spotcap's website:

Spotcap is a financial organisation dedicated to ensuring that both small and medium-sized businesses are able to get access to much-needed funds. Having been launched in 2014, Spotcap has been able to secure fundings in excess of $180million and has made them easily accessible to the small and medium-sized businesses.

In furtherance to this, it has allowed thousands of businesses survive and keep growing.

How Does Applying For A Spotcap Business Loan Work?

Applying for a Spotcap business loan has been made simple and easy. The process is hassle free because within hours, you receive a response kinforming you whether your online application has been approved. Once approved, the funds are immediately made available to you.

The process of applying online for a loan is broken down into bits as follows:
  1. Sign up for an account with Spotcap. You will need to share some basic information about yourself and your business.
  2. Complete the application by filling in accurate details and information. This process takes just a few minutes and the information given will help decide on a loan that is best suitable for you and your business.
  3. Immediately your application is approved, funds (up to $250k) will be made available to you that you start using in growing your business.
Eligibility For a Spotcap Business Loan

Although Spotcap provides unsecured loan for both small and medium-sized businesses, there are requirements that need to be met to qualify for a Spotcap Business Loan. These requirements are that:

  • The business organisation must be registered in Australia
  • During the past 12 months, the business recorded a turnover of at least $200,000.
  • The business must have been operational for at least 18 months
  • The business must have an active online Australian bank account.

Having explained what Spotcap stands for and how you can benefit from applying and taking a business loan, there's an aspect to Spotcap that makes it standout from other financial lenders. This unique feature is also responsible for the greater flexibility that comes with taking a Spotcap business loan and that is allowing the loan applicant pay interest only on what was withdrawn.

What this means is that if, for instance, you're approved a loan of $150k and you end up withdrawing less than the approved $150k, the interest you're liable to pay is on the exact amount withdrawn and not the approved $150k.

Get pre approval

We do not offer loans from SpotCap. However, you can apply for business loans with other lenders from our panel.

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Apply for business loans from our lender panel. We do not offer loans from SpotCap.