Spotcap
24.2% Representative
Will lend between: £50,000 - £350,000
Over: 1 - 24 Months
Are you eligible for Spotcap?
Check your eligibility before you apply.
- Quick 40 second form.
- No impact on your credit file.
- Free personalised eligibility score.
Spotcap customer reviews.
5.0 out of 5 stars
Highlights
- Decision in one working day
- Start to pay when you choose to draw down funds from your credit line
- Dedicated client service
- Simple application process and no Business Plan required
- No Personal or Director Guarantee required
- Borrower does not need to be a Homeowner
Minimum criteria
- Company based in the UK
- Minimum annual turnover of £500,000
- Operating profitably of 24 months
- Consistent revenue for past 6 months
- Minimum trading history of 3 years
Fees
- Maximum APR 24.2%
- Arrangement fee: £2
- Early repayment fee: £0
- Late payment fee: £0
About Spotcap
Spotcap is an innovative online lender for small and medium-sized businesses. The company was founded in 2014 and provide fully unsecured business loans up to £350,000. They use technology to make the lending process straightforward and swift. Spotcap base their decision on recent business performance rather than business plans and forecasts.
Customers only pay interest on what they borrow, plus a one-time arrangement fee, with no early repayment charges. If you qualify for a Spotcap line of credit, you pay nothing until you draw down funds and get a business loan. Should a change in circumstances mean that you no longer require the finance for which you have been approved, you can simply choose not to draw down any funds, and pay nothing.
FCA registration
Reference No: 661094
Trading names: Spotcap UK Ltd, Spotcap Netherlands B.V,
Place of business: Regal House, 14 St James Street, London WC2E 8BU
Data protection registration
Registration No: ZA121915
Data controller: Spotcap UK Ltd
Address: Regal House, 14 St James Street, London WC2E 8BU
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