Representative 22.8% APR
Will lend between: £50,000 - £350,000
Over: 1 - 24 Months
Spotcap customer reviews.
5.0 out of 5 stars
- 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
- 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
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.