Can Capital Small Business Loan to Help You Prosper in Life
Can Capital have been practicing lending since the year 1998. Can Capital mainly support small businesses. To this date, Can Capital has reportedly provided an approximate amount of about $5 billion to small and other medium size businesses that come from within about 540 industries during this time. In this article then, you will be discovering more about what Can Capital Small Business loan is.
Can Capital has focused more on technology. So much so that the company has actually invested in setting up a risk algorithm. This helps them determine whether any business holder who applies for a Can Capital small business loan is qualified for their services. They do not focus on the credit of businesses. Instead they focus on the sales and the time period of a business. And so, if you compare Can Capital small business loan to other lenders, the eligibility criteria is lower and the solutions are greater.
Can Capital Small Business Loan
Now, Can Capital small business loan allow you to borrow from within the range of $2,500 to $150,000. This range is applicable only to those businesses that are open in just one location. A range that exceeds up to $250,000 is applicable to businesses that are open in multiple locations. With Can Capital small business loan, your loan term will be in between six months to eighteen months. When it comes to APR then, it will mainly depend on the type of industry that your business belongs to, the time of your business, the revenue made by your business and the flow of cash.
One rule that Can Capital small business loan follows is that you are to make payments daily with this loan. That means that if you become eligible for a loan between $2,500 to $12,000 with a loan term of 6 to 18 months and you choose to opt for an amount of $12,000, you will be paying a daily amount of $62. With the average APR, you will be paying back about $16,201.
The customer service that comes with your loan is very helpful. The company realizes that at times it can be hard for businesses to pay back their loans on time. And so as a lender, you are welcome to reach out to them to come up with an alternative plan before your term begins. You will not be asked for any prepayment penalty with your loan and if you are a borrower who has paid back the loan before the due time, you can become eligible for a discount of 6 percent