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CAN Capital Reviews

Advertiser Disclosure
5th
  • Min. APR12.90%
  • Max. APR24.90%
  • Min. Loan$2,500
  • Max. Loan$250,000
  • Min. Credit Score680
  • Pros
  • No upfront fees
  • No service fees
  • Sophisticated approval process
  • Low credit requirement
  • Cons
  • Business collateral requirement
  • Personal guarantee requirement

CAN Capital Small Business Loans

CAN Capital's simple application process, excellent customer service and revolutionary criteria method has made them one of the trusted lenders small business owners use. They have been in operation since 1998 and to date have processed over 160,000 small business transactions.

CAN Capital provides two different ways you can access capital for your small business. The first is the CAN Capital small business loan, which is an installment agreement where you borrow a specified amount and then make fixed payments until you repay it in full.

They also offer a merchant cash advance. To use this feature, you sell CAN Capital a portion of your future credit card sales. This option allows you to withdraw cash as your business needs determine it.

CAN Capital has an excellent website where you can learn more about its loan products, read customer testimonials and apply quickly.

CAN Capital Loan Basics

As stated above, CAN Capital has multiple methods by which small business owners can receive funding for company expenses. If you run a single-unit business, you could receive a small business loan ranging from $2,500 to $250,000. The maximum amount increases if you have a multi-location business, as you could qualify to receive up to $250,000. The loan repayment terms can be as short as four months and extend to a maximum of two years.

Meanwhile, if you decide to go with a merchant cash advance instead, the range for the amount borrowed varies from $5,000 to $150,000. Unlike installment loans where you would make a fixed monthly payment, with the merchant cash advance, you remit a specified percentage of your company's daily credit and debit card revenue to CAN Capital.

They also offer a TrakLoan, where you can borrow from $2,500 up to $250,000. This is a great option if your business does credit card processing, since CAN Capital can tie the daily payments to the processing.

Applying with CAN Capital

It's simple to apply online using their secure application and should up to 10 minutes to supply the information they require. From there, they offer a quick approval process where you can have access to business capital in as little as two business days. This makes them a little slower in approval than other lenders like Kabbage, but they also don't have the expensive fees Kabbage has either. If you decide on a personal loan, you will have to provide a statement guaranteeing payment. Speaking of repayment, you can set up automatic payments through your company's checking account.

Qualification Requirements

What makes CAN Capital a great option for some is if you have had credit problems in the past it won't necessarily disqualify you from using their products. Here is a look at some of the things they consider when determining eligibility:

  • First, they will look at your company's revenue. As a rule of thumb, they want you to earn at least $4,500 in monthly gross revenue.
  • They also want to see stability in your business's revenue stream. This means if your business has been fluctuating each month it's important the average earned is more than $4,500.
  • Your company's length of operation is also important. CAN Capital wants your company to be operational for at least four months before applying.

Benefits of Using CAN Capital

CAN Capital offers a simple way for small business owners to obtain financing. With a quick application process and fast funding options, they are a much better alternative than traditional lenders because CAN Capital can get you the resources you need quicker.

Another benefit is the versatile lending options available for small business owners. If you prefer, you can also do a traditional business loan, where you make fixed payments. Speaking of which, with the wide range in terms, you can dictate how quickly you pay off the loan; this is great in that for small expenses you can pay off quickly and for bigger items like expansion, you have up to two years to repay, thus helping you find the terms that align most with your financial needs.

With the merchant cash advance option, it gives you access to capital quickly and a unique repayment method, since you sell a daily percentage of credit and debit card revenue. Because this percentage depends on your business, it means on slow days you won't pay as much and on productive days you'll pay more, so this method lessens its impact on your company's cash flow.

Drawbacks to Using CAN Capital

Though their loans don't require personal collateral -which is where you pledge an item or property on the off chance you default on the loan- they do require a personal guarantee that you will fulfill the financial obligations of the loan.

This won't be the best lending option for all businesses. Since stability in revenue is one of the big factors they look at, if your company does peak business in a fixed period, but then has a lengthy period where business is slow, it might disqualify you or result in you not having access to all the funding you need.

CAN Capital's Customer Service

CAN Capital has multiple ways in which you can contact them to have questions or concerns addressed. They offer phone, email and live chat assistance. Moreover, with an A+ rating from the Better Business Bureau, it indicates they take pride in delivering excellent service to their prospective and current customers.

Resources

They offer a wealth of helpful resources on their website, which includes the type of businesses they serve, the loan needs they can fulfill and a business loan calculator. This tool is vital for companies that want to finance, because it can help you predict how much your monthly payments will be.

To begin, you'll enter in your gross monthly sales. Under the box are two sliders that show how much you can borrow and the length of repayment options. After you toggle these, to the right will show your loan details such as principal amount, weekday payments and total loan cost.

Last Updated:

CAN Capital Consumer Reviews

Average Customer Rating

9 out of 10 rating 9 8 User Reviews

User Rating Distribution

Ratings: 10 - 9 6
Ratings: 8 - 7 2
Ratings: 6 - 5 0
Ratings: 4 - 3 0
Ratings: 2 - 1 0
8 out of 10 rating 8 Customer services No cons

The Can Capitol staff are lovely, friendly and know what they are doing. My whole experience was good and I would recommend them to anyone looking for help with a small loan.

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8 out of 10 rating 8 Easy application Funds can take a while

Whenever I've applied for a loan previously I've always used my bank, so I was a bit nervous when applying with Can Capitol, but they soon put my unease to rest. With professional customer service team, and they make it easy to go through the process. It too a few more days then expected to get the money, but I would highly recommend.

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10 out of 10 rating 10 Reward loyal customers None

Having been a customer with Can Capital for over 5 years now, I would never go with anyone else. The support team are fantastic and they really do reward loyal customers.

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9 out of 10 rating 9 Friendly and Efficent None

I was recommended Can capital for a business loan I needed and I was completely surprised. Efficient and friendly, application is easy and the money was transferred within 48 hours after my application was accepted.

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9 out of 10 rating 9 Customer services team No cons

CAN Capital is the best company if you're looking for a small business loan. It was actually a pleasure to deal with the team and I would recommend them to anyone.

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10 out of 10 rating 10 Appreciate their customers None

This is a company that really look after their loyal customers. They have helped my business a number of times over the five years I've been with them. I would never go with anyone else.

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9 out of 10 rating 9 Reward loyal customers None

Can Capitol really helped me when I was desperate and I couldn't be more grateful. Having been with them for a couple of years now, they definitely like tor reward their loyal customers.

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9 out of 10 rating 9 Smooth and easy process None

I've been with can capitol for two years now and they are an amazing company, on hand to help whenever you need them.

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In order for MoneySavingPro to remain a consumer free service, many of the companies covered in our industry reviews compensate MoneySavingPro for new sign ups.

However, the results of our comparison tools, the rankings of the providers and the information presented is not affected by compensation. Indeed, many of these companies approach us for an advertising partnership after we have already written a published their reviews.

While we try to research and review as many providers as possible in the 100+ industries we cover, we have not reviewed every company available.

Our rating system is independent of compensation and reflects our true understanding of the industry and the company based on a variety of factors. The companies that receive the highest rating will always be the providers that we believe offer the best value to the consumer.

Advertiser Disclosure

In order for MoneySavingPro to remain a consumer free service, many of the companies covered in our industry reviews compensate MoneySavingPro for new sign ups.

However, the results of our comparison tools, the rankings of the providers and the information presented is not affected by compensation. Indeed, many of these companies approach us for an advertising partnership after we have already written a published their reviews.

While we try to research and review as many providers as possible in the 100+ industries we cover, we have not reviewed every company available.

Our rating system is independent of compensation and reflects our true understanding of the industry and the company based on a variety of factors. The companies that receive the highest rating will always be the providers that we believe offer the best value to the consumer.