Features

CAN Capital has provided loans to small and medium-sized companies since 1998. In the last 17 years it has financied over 139,000 loans. CAN Capital is based in New York City. It specializes in business loans and merchant cash advances. It uses innovative risk assessment and repayment schedules, which allow it to provide loans to companies that don't qualify for traditional business loans. CAN Capital has been registered with the BBB since it was launched in 1998 and has an A+ rating.

How Does CAN Capital Work?

CAN Capital offers quick access to funds and gives borrowers the option of choosing whether they prefer fixed or flexible payments. Small business loans have the advantage of having a clear maturity date and fixed small daily payments. For instance, a business could borrow $2,500 within 3 business days and repay it in 12 months making $13 payments every weekday.

Funds can be used for practically any business need. Merchant cash advances, on the other hand, determine the daily payment as a percentage of the business' daily income. Approval is based on business performance not just credit and current net worth.

What Are The Interest Rates?

CAN Capital does not provide average fees or interest rates. Rates vary widely depending on the credit product you choose. Installment loans can have an APR as low as 16%. Merchant cash advances can have much higher APRs depending on the repayment schedule. We obtained the 50% to 158.24% APR range quoted above from converting the repayment cost of a selection of CAN Capital business loans. For instance, CAN Capital charges $22,500 in interest and fees for a 4-month loan of $150,000: a total of $172,500. The equivalent APR is 70%. However, a $2,500 12-month loan costs $875 in fees and interest, which is the equivalent of a 70.0% APR.

How Much Money Can I Borrow?

CAN Capital's loan amounts range from $2,500 to $150,000, based on annual revenue and creditworthiness. The total cost is converted into daily weekday payments. For instance, a 12-month loan of $11,000 would have weekday payments of $57.

Which States Does CAN Capital Operate In?

CAN Capital operates in all 50 states.

What Is the Application Process Like?

Applying online for a business loan with CAN Capital only takes 15 minutes. Once approved, cash is available within three business days. To qualify a business must have a minimum monthly gross revenue of $4,500 and must have been in business for at least 3 months. Although credit and assets are important for the approval process, CAN Capital uses other factors when assessing loan applications, which gives newer companies a better chance to qualify.

How Is CAN Capital Better than Other Lenders?

CAN Capital offers fast and easy access to business capital to businesses that otherwise wouldn't qualify for a business loan. It can do this because it uses different risk assessment methods and charges higher interest than traditional business lenders. Cost is calculated into daily fixed payments, which makes it easier to finance for many businesses. Borrowers can also choose to obtain a merchant cash advance loan which calculates the payment amount on the balance based on the company's income.

  • Interest APR
    16% - 70%
  • Loan Amount
    $2500 - $250000
  • Max Loan Term (Months)
    24
  • Minutes
  • Same Day
  • 1-7 days
  • 1-2 weeks
  • 2-4 weeks
  • Min Revenue
    $54000
  • Min Years in Business
    4
  • Credit Type Offered
    Unsecured Term Loan Secured Term Loan Line Of Credit Merchant Cash Advance
  • Intended Use of Funds
    Business Debt Refinance Equipment Purchase Lease Improvements New Location Product or Service Expansion Working Capital
  • Institution Type
    Bank Direct Lender
  • Approval Speed (Hours)
    24
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0 votes

I found Cancapital super easy to use. I was in contact with their customer service during the entire process, from the application to getting the loan. They were very polite and helpful. I don't have any issues with their customer service, and even though they're interest is a little higher than most other lenders, it really doesn't bother me too much. I would much rather have a good relationship with my lender and pay higher rates than hate them and have a good rate.


0 votes

Cancapital doesn't require any collateral in order to get out a loan, which is awesome. There have been times in the past when I've put my personal credit and personal items on the lines when I've needed a loan for my business. This really worries my wife, so I've decided not to do it anymore. They are a bit pricey when it comes to payback, but at this moment in time, my business can handle the payments. I'm just happy that my wife is at ease, and doesn't worry about ... us losing our personal items if I'm a little late on a loan payment. More Less


0 votes

I'd read so many reviews about Cancapital putting a hard review on your credit. I decided to call and speak with them anyway, and they assured me they didn't do hard inquiries. I'd been turned down by a bunch of other lenders for my small business, so I really didn't know where else to go. In the end, yes, they put a hard inquiry on my credit. They were able to get me the loan I needed, but it was for a price. Now I'm working to pay off the ... loan, and obviously, it takes time for the hard inquiry to go away. More Less


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