Spotcap

Spotcaps unique approach to business lending is making a difference.

Who is Spotcap?

Spotcap offers fast and flexible loans that help established businesses grow and achieve their vision.

The way Spotcap approves loans differs from most other finance providers. Spotcap uses unique algorithms and machine learning to accurately assess an applicant’s business data when coming to a decision.

What type of business funding does Spotcap offer?

Spotcap offers simple, unsecured business loans of up to £350,000. These loans can be repaid up to a 24-month term. Their business loans are flexible, with no extra fees chargeable if you decide to repay the loan early.

There are also no fees associated with applying, nor is there a cost for getting approved for credit which you later decide not to continue with.

You can use a Spotcap loan for short-term needs such as cash flow management, purchasing inventory or to bridge receivables. Alternatively, you can borrow for long-term purposes such as hiring staff, refurbishing business premises or purchasing necessary equipment.

How do you apply and qualify for funding with Spotcap?

To qualify for funding with Spotcap, you will need to have a business based in the UK, have been trading for at least three years, have a business bank account and an annual turnover of at least £500,000.

Applying for a loan with Spotcap is simple and done entirely online. Spotcap requires a few pieces of financial information including accounts, bank statements and VAT documents.

Their credit assessment is thorough. The above business details will be used by their unique credit technology to evaluate the financial health of your business. The credit assessment also looks at your credit record and any previous repayment history in your name or the business’ name.

Once the assessment is complete, one of their credit team will advise you on how much you’re eligible to borrow. They aim to give you a decision within one working day once your application is complete.