Help Center
Answers to our frequently asked questions
SnapCap is focused on delivering the fastest decisions at the lowest rates with the least amount of hassle. We do this by streamlining the application process and arming our team with the best financial technology in alternative lending. The fastest way for you to receive funding is to fully complete the online application and to include your last 3 months of business bank statements. Providing your business tax ID, also known as an Employer Identification Number (EIN), will facilitate a faster qualification.
Frequently Asked Questions
Funding can be used for a variety of business needs in a wide range of industries.
Loan and advance sizes range from a minimum of $10,000 to a maximum of $1,000,000.
The term of repayment may be anywhere between 3 and 36 months.
Submit an application using our simple online application form.
We may call to clarify any details on your application.
Under normal circumstances you can have money in your bank account within 48 hours.
Monthly gross revenue of $8,500 or more
3 months of business bank statements required
Minimum 6 months time in business
A minimum FICO score of 500 for the applying business owner
Businesses must be based in the United States
The rate and pricing of a credit product is determined by a number of factors including recent business performance, industry, dollar amount financed, and term.
Depending on the product that you select, you may be charged an origination fee. These fees are always itemized in the funding documents for review.
Short term rates are often stated as a fixed simple interest rate, or “cents on”, as we believe this is an easier way for you to understand the true “cost” you are paying to borrow. This shouldn’t be confused with an annualised interest rate.
A fixed payment amount is deducted from your business bank account on a daily or weekly basis.
You may be allowed to prepay after a period of on-time repayment.