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Spotcap offers business lines of credit from $10,000 up to $500,000, allowing you to borrow up to two months’ revenue. As this product is a line of credit, you will only be charged for the amount of credit you use. Their rates are personalised, and will be passed on your business financials and business credit. To be eligible, your business needs a minimum of $200,000 turnover per year, and needs to have been in operation for at least a year. While they don’t charge an upfront fee or ongoing fees, there is an original fee of 2 to 3%.
$0
Upfront Fee
$500,000
Max. Loan Amount
3 months to 2 years
Loan Term
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Product Name | Spotcap Loans |
---|---|
Min. Loan Amount | $10,000 |
Max. Loan Amount | $500,000 |
Loan Security | Unsecured |
Upfront Fee | $0 |
Loan Term | 3 months to 2 years |
This business loan from Spotcap works like a revolving line of credit, giving you access to funds equal to roughly the amount of monthly revenue your business is making. When you apply, your financials and credit will be looked at and individually assessed, and you may be approved for a credit line. If you're approved, you'll have three months to decide how much you want to use and when you want to withdraw the funds, and if you decide not to use it you won't be charged anything. You are only charged for the amount of credit you use.
If you're ready to apply for a loan for your business, just click "Go to Site". Make sure you review the eligibility criteria and have the required documents handy before you start.
Eligibility criteria
Your eligibility depends on how long your business has been in operation and your business' financials. Here are a few points to keep in mind:
You'll need to provide the following to complete your application:
You won't be charged any money to access your credit line, and you'll have three months to decide how much you want to withdraw and when you want to withdraw your money. If you decide not to use your credit line, you won't be charged anything.
Spotcap Loans are a convenient and flexible lending solution that you might want to consider for your business. As always, it's best to compare your business loan options to ensure you're applying for the best finance to meet you and your business' needs.2 Comments
February 16, 2018
I want a loan for a frachcise Cleaning Business plus I m working if u can help me
March 7, 2018
Hi Rosa, thanks for your inquiry.
Please note that you have reached finder.com.au and not the lender. It would be best to contact them directly for your loan needs.
Best,
Jonathan