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Capify's Business Loan

For over 13 years, Capify has worked closely with business owners, providing them with much-needed funding. Now is no different, we’re here to help your business recover as the economy begins to open up again.

A Capify business loan is easy to apply for and can be approved and paid out in as little as 24 hours. Our business loan is unique because rather than being paid back in one large chunk each month; ours is repaid regularly, in small amounts. This helps business owners to manage their cash flow.

The lending criteria will consider the challenges of the past year for each business. Our flexibility means we will try and look beyond your credit history when assessing your application and instead, we will consider whether your business has the potential to deliver solid and sustained growth.

Unlike other forms of business funding, Capify’s business loan can be used for any business purpose including, improving your cash flow, purchasing equipment, renovations or marketing.

According to a recent study by the British Business Bank, working capital was the dominant driver of funding needs in 2020, and of those who identified a need for funding, 78% said cash flow support was the reason for requiring funding, up from 49% in 2019.

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Find out if your business qualifies for a business loan from Capify

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Apply for an Alternative Unsecured Business Loan

We specialize in providing loans and alternative finance for small businesses and we always aim to make the application process as easy and stress-free as possible.
  1. Check if you qualify in 60 seconds

    See if you’re eligible without affecting your credit score.

  2. Complete your application

    Tell us about you and your business, along with providing all the necessary documents we need to make a decision.

  3. Decisions within 24 hours

    We'll review your application and aim to give you a decision within 24 hours.

  4. Your funds arrive

    Once your agreement is agreed and signed you could have the funds in your account that same day.

What is an unsecured business loan?

Unsecured business loans are a type of funding that doesn’t require the business to put up any personally owned and business-owned assets up as collateral. This differs from secured business loans, which require the finance to be backed by an asset of some type.

Because no assets are secured against an unsecured loan, it’s a requirement in the majority of cases that the person taking out the loan – the borrower – has an excellent credit rating. This positive credit rating should be in addition to a full, excellent financial history and a well-researched and planned forecast for cash flow. This helps the lender to identify the risk of lending to the business, as well as checking if the required payment would be possible and sustainable for the business.

Who are unsecured business loans for?

Unsecured loans, especially business loans, are suitable for any type of business. They are especially useful for companies that have few tangible assets or have little of value to provide as security for a loan. These types of businesses are more and more common, with many digital companies, in particular, having few assets to place against a loan.

How do unsecured small business loans work?

While a secured small business loan works on the basis of the borrower lending against assets they already own – whether it’s equipment, property or anything else – an unsecured loan takes a different approach. These types of loans work based on the lender having greater insight into the business’ incoming and outgoings, and as such may require a more in-depth process to offset that risk.

In an unsecured loan, the borrower doesn’t need to have specific collateral in place as security for the loan being accepted. Therefore, the process involves providing the lender with an overview of the cash flow of the business, as well as often requiring an understanding of what the loan will be used for. This could be equipment, staffing or any other business purpose.

What unsecured business loan do Capify offer?

Capify offer two unsecured business finance products:

1. An unsecured alternative business loan which enables limited companies to raise finance without the need to secure finance against assets.

2. A merchant cash advance which allows companies to raise finance against their card processing income. This innovative product enables businesses to repay their finance back via their card terminal, with flexible repayments designed to mirror your card income.

FAQ's:

How does a loan from Capify differ from a traditional bank loan?

Finance from Capify is different in that there are small daily payments automatically debited from your bank account as opposed to having to come up with large monthly payments.

How much will my business qualify for?

A business can typically receive and advance of upto 150% of their monthly credit and debit card turnover via our Merchant Cash Advance product or up to 75% of their turnover via our business loan product.

What does my business need to qualify?

For regulatory purposes and also to manage risk, lenders need to have supporting evidence that you are who you say you are and that the information you’ve provided on your application form is
correct. The process of verification is known as underwriting. Underwriting takes place after you’ve successfully gone through the initial eligibility/approval process.

Applicants will need to provide:

– Evidence of ID
– Financial information on the business (including income, outgoings, profit, assets etc.)
– Declare outstanding credit agreements (other borrowing)
– Landlord references (if applicable)
– Any other financial information requested

Applicants will also need to successfully pass a credit check – with different business lenders each having different criteria’s for approval. Being declined by one lender doesn’t mean you will be declined by all lenders.

If you need further information on this stage of the process, take a look at our article covering the steps required [internal link] before approval for finance can be given.

How quickly can my business be approved and funded?

Capify’s quick business loans are speedy for a reason – business owners don’t have much time to go through paperwork and wait for a decision. Our quick quote tool will provide you with a funding decision in 60 seconds.

After applying through our friendly Manchester-based sales team, you’ll receive your funds within days.