Whether you’re financing an expansion into a new market or need to invest in equipment upgrades, there are many ways a $50,000+ business loan could help your small business grow. While there are many competitive offers available from trusted funding companies, our top pick for a $50k+ business loan is Funding Cap. Offering faster approvals in as little as 4 hours, pre-approval discounts, and much more, this lender delivers many advantages. Read on to find out why Funding Cap is a trusted source for small business financing.
Why Choose Funding Cap For Business Loans For $50,000+
Overall, Funding Cap financing is a smart choice for small business owners, as they offer flexibility in terms of what you can use the funds for. Their funding services also come with an array of benefits that can help you avoid unnecessary costs—and skip the hassle of hurdles that commonly get in the way of quick funding. Below, we break down the pros and cons of a Funding Cap $50,000+ small business loan.
Pros of Funding Cap
As you compare options for a $50k+ small business loan, here are a few reasons why Funding Cap is a top lender to consider:
Simple Application Process: Funding Cap’s application is designed to be swift and effortless for the busy entrepreneur. To complete the process, you only need to answer a few short questions online. Plus, Funding Cap doesn’t perform hard credit pulls for approval, so you can submit the application without worrying about its impact on your financial health.
Fast Approvals & Financing: Once you’ve submitted all the necessary info, Funding Cap will approve your funding in as little as 4 hours. A representative will contact you to design the best financing for your specific needs, and after it’s all confirmed, they’ll distribute the funds within 72 hours.
Unrestricted Use of Funds: While some funding companies may limit the way you spend a business loan, Funding Cap has no such restrictions. After you've received the funds, you can use them flexibly for a variety of business needs—such as covering the costs of taxes, new hires, equipment upgrades, inventory, renovations, or marketing.
Pay Early & Save: In addition to having transparent terms about fees, Funding Cap offers an incentive to repay early with their prepayment discounts.
Cons of Funding Cap
Although Funding Cap loans are designed to be easy and accessible, it can be helpful for applicants to know about the potential drawbacks of their services, including:
Interest Rates May Be Higher: The interest rate quoted will likely be determined based on your company’s overall financial health. If you have a less established business, you may be offered funding with a higher interest rate than with other options on the market.
Shorter Terms: A $50,000+ business loan from Funding Cap may come with a shorter repayment period than with more traditional funding companies. This shorter period can lead to higher monthly payments, potentially adding financial pressure to your business operations.
Potential Limits on Loan Amounts: If your company is newer or has credit concerns, Funding Cap may not approve the full funding amount that you’re looking for. Fortunately, Funding Cap approves loans up to $1.5 million so a $50,000 business loan may still be a very attainable target.
Who is Funding Cap Best For
Funding Cap is best for small business owners who need quick access to capital with minimal hassle. The unrestricted use of funds is perfect for entrepreneurs who have various spending needs or feel limited by other lender terms. With potentially higher interest rates and shorter repayment periods, it’s also ideal for those who are comfortable with a short-term financing situation.
Who Funding Cap Isn’t Right For
If you’re looking for a $50,000+ small business loan with a longer repayment period or the lowest possible interest rate, Funding Cap may not be the best option for you. Fortunately, getting a quote comes with no hard credit pulls or intensive time required. With no strings attached, you can easily get a preview of the terms to determine if a Funding Cap loan will work for your situation.
Funding Cap Loan Features
Funding Cap small business loans are noted for their competitive features, which can appeal to a variety of applicants:
-
Simple Application Process: Fill out a quick application online and avoid the hassle of a hard credit pull.
-
4-Hour Approvals: Get your free quote and approval in as little as 4 hours.
-
Fast Disbursement: Approved loans distribute funds within 72 hours.
-
Custom Loan Terms: Lending specialists work with borrowers to create funding that fits their financial profile.
-
Flexible Use: Funding can be spent on a variety of business expenses.
-
Prepayment Discounts: Applicants can receive discounts by paying funding off ahead of schedule.
Funding Cap Loan Requirements
Funding Cap doesn’t provide a set list of explicit requirements for borrowers, as the lender strives to make funding more accessible to small business owners.
Maintaining solid financial health over at least 6 months or more can help show a business's ability to repay financing. Specifically, a good applicant will show consistent revenue and good profit margins. Additionally, having a well-established credit history, particularly with a score over 680, can significantly improve the likelihood of approval, as well as a higher loan amount and a lower interest rate.
How to Apply For a Funding Cap Business Loan
Applying for a Funding Cap small business funding can be done within minutes. Simply head to the Funding Cap website and fill out the simple form to start the process. Within 24 hours of submission, you should receive a quote and have the opportunity to speak with a specialist. These specialists can help you review the terms and discuss options that may work better for your unique situation. If you accept the terms, you can receive funds within 72 hours.