Capify is a direct lender launched in 2008 when it merged its previous names of United Kapital and Capiota.
From its headquarters in Manchester, Capify provides finance to UK businesses from independents to SMEs, and retailers to restaurants. Whether you choose a business loan or a cash advance, the credit is paid back daily or weekly.
In January 2019, Capify secured a £75 million credit facility from Goldman Sachs Private Capital to help it provide working capital to SMEs.
Whether you’d like to pay for new equipment or an office refurbishment, or you need a cash boost to take your business to the next level, Capify could help with fast and flexible business finance to suit your needs. It’s quick and straightforward to apply online at the Capify site.
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Borrow £5,000 to £150,000. Borrow up to 75% of your annual turnover.
Repay daily or weekly. Pay back your loan little and often, rather than in larger monthly instalments.
Repay over 6 to 12 months. Choose a repayment term that suits your business.
Dedicated account manager. Talk through your individual circumstances at every stage of your application, and after you get the money, with just one person.
Automated repayments. Capify takes repayments automatically from your business bank account on your chosen dates.
Fees. Capify charges a processing fee as well as a monthly administration fee. Be sure to check the total amount you will repay before agreeing to a loan.
Am I eligible for an Capify business loan?
You should only apply for a Capify business loan if you’re certain you can meet the repayment terms. You must also:
Be a limited company based in the UK.
Have trading accounts for at least twelve months.
Process more than £10,000 per month through your business bank account.
Key features of a Capify merchant cash advance at a glance
Borrow £3,500 to £150,000. Borrow up to 130% of your average monthly turnover through debit and credit card sales.
Repay little and often. Pay back a percentage of your card transactions. The money is taken at the end of each business day, so on a slow day you pay less and on a busy day you pay more. This option eliminates the need to save for larger equal monthly repayments, which could suit seasonal businesses.
Dedicated account manager. Talk through your individual circumstances with just one person.
No fixed end date. You have the option to take out further cash advances. Just be careful not to take on credit you no longer need.
Fees. Capify will charge an origination fee, processing fee and a monthly service fee. Make sure you check the total amount you will repay before agreeing to a cash advance.
Am I eligible for a merchant cash advance with Capify?
You should only apply for a Capify merchant cash advance if you’re certain you can meet the repayment terms. You must also:
Run a UK-based business either as a sole trader, in partnership or as a limited company.
Take at least £3,500 per month in card payments.
Have at least six months’ trading records.
Interest rates are fixed for the duration of your repayment period. However, the rate you’re offered will depend on factors like the amount you apply for, the term of the loan, the performance of your business and its credit rating. This may differ from the advertised “Representative APR”.
How can I apply?
Simply visit the Capify website, click on “Get a Quote” and fill out some basic details about yourself and your business.
A Capify account manager will call you to talk through your application in more detail and help you decide which finance option best suits you.
Once you have been approved for a loan, you should have the funds in your account within a few days.
Frequently asked questions
This will depend on the individual needs of your business and how you manage cash flow. The cash advance usually suits small to medium sized businesses with seasonal turnover, as you pay back less in quiet periods and more in busy periods. For example, it may work well for businesses in the hospitality trade. Business loans may suit companies with a more steady income stream.
Once your loan has been approved, you can expect the money in your bank account within a few days.
With a Capify Business Loan, you can choose daily or weekly repayments. With a merchant cash advance, you pay an agreed percentage of your daily card transactions. The percentage taken is usually tailored to your business.
Capify does charge several additional fees on top of interest. Always make sure you check the total amount of money you will have to pay back before you agree to a loan.
Chris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.
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