Capify Unsecured Business Loans
- Upfront Fee
- 3% origination fee
- Max. Loan Amount
- $1,000,000
- Loan Term
- 3 months to 1 year
Summary
Apply for up to $1,000,000. Loan terms are short, ranging from 3 months to 12 months and a 3% origination fee applies.
Capify offers unsecured business loans in a range of amounts, with a quick online application. If you're approved, funds can be in your account fast, sometimes within 24 hours. Instead of charging interest, Capify charges a fixed upfront fee that depends on how much you borrow, your industry and your business's creditworthiness. You'll find out the total cost once you apply, and Capify says there are no hidden fees or early repayment fees. To be eligible, your business needs to have been trading for at least 6 months, meet a minimum monthly turnover, and have an active ABN. You also need to be an Australian citizen or permanent resident aged 18 or over.
Details
Product details
| Product Name | Capify Unsecured Business Loan |
| Min. Loan Amount | $5,000 |
| Max. Loan Amount | $1,000,000 |
| Loan Security | Unsecured |
| Upfront Fee | 3% origination fee |
| Loan Term | 3 months to 1 year |
How does an Unsecured Business Loan from Capify work?
Check your business is eligible to apply – it needs to have been in operation for a minimum of six months and meet minimum monthly turnover requirements. The approval process is online and should only take 60 seconds to complete. If the application is approved you can receive your funds within three business days.
The funds received from a Capify loan can be used for any business purpose. The repayment terms differ depending on your business, but can be between 3 to 12 months. When it comes to repaying your loan there is a fixed daily repayment schedule, but if your business is seasonal Capify has a Flex program to adjust to your business needs.
Features of a Capify Unsecured Business Loan
There are several benefits with Capify's business financing, including:
- No security is required. Some business financing options require security which can be restricting for business owners that cannot provide it. No security is required for a Capify Unsecured Business Loan.
- Quick application and turnaround time. The application only takes 60 seconds to complete and you can receive your approved funds within 24 hours.
- Flexible loan repayments. This loan comes with a fixed daily payment schedule. However, payments can be more flexible for businesses that are seasonal using Capify's Flex program. Terms can extend up to 12 months.
- Varying loan amounts. Capify offers unsecured business loans in a range of sizes, so you can borrow what suits your business needs. Check Capify's website for current minimum and maximum loan amounts.
- Costs. Capify does not set an interest rate for your loan, but rather establishes a total payback amount in your loan contract. This will be repaid through your ongoing repayments.
How you can apply for business financing with Capify
Finder does not currently offer this product, so there is no application link on this page. You can apply directly with Capify at capify.com.au, or compare other business loans. To be eligible, the business needs to meet the following criteria:
- Have been in operation for at least six months
- Have a minimum turnover of at least $10,000 per month
You'll need the following details to apply:
- Bank statements for the last six months, or up to twelve months depending on deal size
- Merchant statements for the last four to six months
- A driver's licence for the owner of the business
Capify offers a competitive financing option to consider for your business, but remember to compare your options before starting your application.
Frequently asked questions
Sources
Your reviews
Elizabeth Finder
Journalist
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May Finder
September 08, 2017
Hi Ashan,
Thank you for your inquiry.
If you can meet all the eligibility requirements set out above, you may contact Capify to inquire about your loan options and eligibility. Just please note though as mentioned in the above list of requirements, you’d need to provide Bank statements for the last four to six months and Merchant statements for the last four to six months.
Just in case you may want to check your other business loan options, use the Business Loan Finder to help you find the right business loan for your needs. On the page, is a comparison table you can use to compare lenders based on their loan amount, term, and fees. When you are ready, you may then click on the “Go to site” button and you will be redirected to the lender’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.
Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.
Hope this helps.
Cheers,
May
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Ashan
September 06, 2017
I have started this business in May. would I be able to get a loan from Capify if I can provide bank statements and also earn around 20k a month.