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SnapCap business loans review

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Give your business a boost with flexible repayments on loans of up to $600,000.’s rating: 4.2 / 5.0


Getting extra capital for your business can be tricky, especially if you’re thinking about applying for a loan with a bank. As an online lender, SnapCap provides financing solutions for your business with a simple online application process and loan decisions typically in 48 hours.


Min. Amount


Max. Amount


Product NameSnapCap business loans
Min. Amount$5,000
Max. Amount$600,000
Loan Term3 to 36 months
Min. Credit Score500
RequirementsIn business 6+ months, monthly revenue of $8,500+, based in the US, personal credit score of 500+, active bank account
Best of 2020
Finder experts pick SnapCap business loans as a 2020 best pick for business loans.

First, do I qualify?

To qualify for a SnapCap business loan, your business must be at least six months old, based in the US and generate at least $8,500 in gross monthly revenue. You must also have a personal credit score of 500 or higher.

What is SnapCap?

Founded 2012, SnapCap specializes in providing financing solutions for businesses that include capital loans, inventory loans, expansion loans and equipment loans. Depending on your creditworthiness, you can borrow up to $600,000 with flexible repayment terms. Customers rate SnapCap an excellent 9.5 out of 10 on Trustpilot.

What makes SnapCap business loans unique?

SnapCap focuses on the overall health of a business, rather than merely an owner’s personal credit score. As a result, your business could qualify for a SnapCap loan even if you have less-than-perfect credit. Its Vanishing Interest Rate program is designed to reward its customers who manage repayments responsibly, offering lower rates to repeat borrowers.

Rates are simple interest, not APR. Because rates are fixed, they stay the same over the life of your repayment term. Most loans are offered at an interest rate of 12% to 15%, with the highest rate a borrower could expect at around 35%.

Compare SnapCap to other online business lenders

Data indicated here is updated regularly

Name Product Filter Values Loan amount APR Requirements
First Down Funding business loans
$5,000 – $300,000
Fee Based
At least 1 year in business, an annual revenue of $100,000+, and a minimum credit score of 400
Alternative financing up to $300K with highly competitive rates.
Lendio business loans
$500 – $5,000,000
Starting at 6%
Operate business in US or Canada, have a business bank account, 560+ personal credit score
Submit one simple application to potentially get offers from a network of over 300 legit business lenders.
ROK Financial business loans
$10,000 – $5,000,000
Eligibility criteria 3+ months in business, $15,000+ in monthly gross sales or $180,000+ in annual sales
A connection service for all types of businesses — even startups.
OnDeck small business loans
$5,000 – $250,000
As low as 9.99%
600+ personal credit score, 1 year in business, $100,000+ annual revenue
A leading online business lender offering flexible financing at competitive fixed rates.
Rapid Finance small business loans
$5,000 – $1,000,000
Fee based
Steady flow of credit card sales, bad credit OK

Compare up to 4 providers

Benefits and drawbacks of SnapCap business loans


  • Quick turnaround. If you provide all the information required in the application, you could be approved within 48 hours.
  • Varied loan terms. Choose to repay your loan with terms of 3 to 36 months.
  • No collateral. SnapCap loans are unsecured, which means you won’t need to provide collateral.
  • Loans for different purposes. SnapCap offers inventory loans, working capital loans equipment loans and expansion loans.


  • High rates and fees. SnapCap isn’t up front about the the interest rates you could qualify for. Instead, you learn your interest rate only after your loan is approved. Depending on the loan you get, you may also pay loan origination fees.
  • Daily or weekly repayments. SnapCap deducts a fixed repayment from your business bank account, which can eat into your cash flow.
  • Prepayment. SnapCap allows you to pay your loan off ahead of time only after an unspecified “period of on-time repayment.”
  • Limited services. Business loans aren’t available in all states.

Am I eligible for a SnapCap business loan?

SnapCap isn’t licensed to offer business loans in all US states, though its site doesn’t specifically list the states it services. If you live in a state that doesn’t allow business loans, you could instead qualify for a merchant cash advance.

To qualify:

  • Your business must be based in the US and at least six months old.
  • Your business must generate at least $8,500 in monthly gross revenue.
  • You must provide three months of business bank statements.
  • Your personal credit score must be 500 or higher.

After you submit an application, SnapCap reviews your information to determines whether your business qualifies. In most cases, it provides a loan decision within 48 hours. In some cases, SnapCap may ask for additional documentation before it decides on your loan.

How do I apply?

Applying with SnapCap begins with completing an online preapproval application.

After you submit your review and upload required documentation, a SnapCap loan officer will call you for yet more information.

What documents do I need to apply?

SnapCap requires at least three months of business bank statements, along with personal and business details that can include at its discretion:

  • Your driver’s license and Social Security number.
  • Proof of bank account ownership.
  • Your Employer Identification Number.
  • Your company’s building lease.

I got a SnapCap business loan. Now what?

Now that you’ve got your business loan, there’s not much more to do than make on-time repayments.

  • Set up autopay. Avoid unnecessary fees and interest by scheduling automatic withdrawals from your bank account.
  • Get support. If you have questions about your loan, contact SnapCap weekdays from 9 a.m. to 7 p.m. ET at 800-843-0130 or Or connect with SnapCap on Facebook @snapcap or on Twitter @Snap_Cap.

Bottom line

If you own a startup and need business funding quickly, SnapCap could be an option. It offers short-term business loans of $5,000 to $600,000.

But if you have more time, you may be able to find a better business loan provider by comparing your options.

Frequently asked questions

Business loan ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We rate business loan providers on a scale of 1 to 5 stars based on factors like transparency, costs and customer experience. We don’t take into account elements like eligibility criteria, state availability or payment frequency — we save that for our reviews.

Read the full methodology of how we rate business loan providers to get a better picture of what goes into each star rating.

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