Kapitus Funding Review – Pros & Cons, Payback Terms & Rates (2021)

Kapitus is a direct online lender that finances small businesses. The main product of Kapitus Funding is a business loan, healthcare financing, business lone of credit, equipment financing, invoice factoring, purchase order financing, revenue-based financing, SBA loans. Kapitus handles all funding processes in-house and online. You can borrow from $10,000 to $5,000. However, the online lender is not without some cons. There are some disadvantages to the funding institute as well.

Hi, today I will review Kapitus Funding. I will give you a clear understanding of all the pros and cons of Kapitus, interest rates, payback terms, qualifications, and how to apply.

Pros of Kapitus

Take a look at the Pros of Kapitus Funding. With this information, you can make a better decision and compare online lenders for small business financing.

1. Rapid Approval

The approval time is extremely important for funding, especially if you need money right away. It takes the online lender a couple of hours to make you an offer. If you are pre-qualified, you will be requested to submit additional paperwork, and if you are not qualified you will be notified or you will see an update on your dashboard.

2. Few Documents

Online lenders require less paperwork than traditional banks, as we already know. Kapitus Funding involves less paperwork. A traditional bank will ask you for a lot of documents and papers if you apply for a business loan.

3. 100% Internet-based

All funding processes are done online, from applications to payments. You don’t have to waste your time visiting the lender’s office. It is a big plus for business owners who don’t have extra time to get a loan.

4. No Individual Guarantee

A personal guarantee is required if you work with a bank or mortgage lender. In contrast, when you work with an online lender like Kapitus, Credibly, or Bitty Advance, you don’t have to put up any collateral. It is a type of unsecured loan.

5. Rapid Funding

In my experience, small business owners usually take out loans when they need extra working capital or when they want to expand their business. In addition, most of them don’t have a good credit score and little deposit, which is why they were declined from a traditional loan. When you

work with a traditional bank, it will take two to three months.

6. Excellent Customer Care

If you ask me about Kapitus Funding customer service support, I have worked with more than 10 lenders online. Then I will give it a 9 out of 10. Customer service at Kapitus Funding is excellent.

7. In-house Financing

There are hundreds of brokers in the market. However, at the end of the day, this brokers works with direct lenders and earns a commission. Kapitus, however, is a full-service direct lender. All funding processes are handled in-house. Therefore, you are getting cheap money.

8. Multiple Financing Choices

A merchant cash advance or MCA is offered by most online lenders for small business owners. The cost of capital is too high. Kapitus Funding, however, offers multiple financing options. Different loan programs are available for different types of businesses.

Cons of Kapitus Funding

Having worked with Kapitus Funding, I have found some cons of this online lender. Now I will share with you. Let’s take a look at Kapitus Funding’s downsides. 

1. Low Credit Score Required

Kapitus Funding requires a 625 credit score for small business loans. If you plan to apply, you should know this. In other words, if you apply for a loan, you must have a credit score of at least 600. If not, you will be declined.

2. Minimum Deposit

Low deposit files are not accepted by the online lender. The minimum deposit is 25 thousand. This means you must deposit at least 25 thousand dollars into your business checking account each month.

3. Very High Interest Rate

The interest rate is higher than a traditional bank or mortgage lender. Besides, there are extra fees such as origination fees and processing fees. As a result, your cost of capital is high.

4. Unavailable Mortgage Loan

Kapitus does not offer long-term or mortgage loans. The majority of small business owners today seek mortgage loans. August Funding Group provides business mortgage loans and term loans.

Kapitus Interest Rate & Payback Terms

The Kapitus interest rate ranges from 3% to 18%. However, they have an additional number of origination fees. Payback terms range between 6 and 18 months. Up to 5 million business loans are available.

Is Kapitus Legit Or A Scam?

There is no scam with Kapitus. It is a 100% legitimate, online lender. A New York-based online lender provides small businesses with business loans. The lender offers multiple loan programs for small businesses.

Kapitus Funding Eligibility

To qualify for a Kapitus loan, you must meet the following criteria:

1. A personal credit score of 625 or more.
2. Business has been in operation for two years.
3. Checking account for business.
4. Average monthly revenue of 20000 or more (into your business checking account).

How To Apply

Applying for a loan is very easy. On Kapitus’ official website, you will find an Apply Now button at the top. You will now find an application if you click. Please fill out the form with some basic information about you and your business. You will see an update once the application is complete. You may also be contacted by a funding advisor who will assist you with the funding process.

Kapitus Alternatives

Credibly Finance, OneDeck, Kabbage, Rapid Finance, Fundbox, and Bitty Advance are the best Kapitus alternatives. Credibly offers a better rate than Kapitus. Bitty Advance offers less daily payback.

Address

Kapitus is located at 120 W 45th Street, New York, United States.

Customer Support

Customer support is available by phone at +1 880 780 7133 or by email at [email protected]

Our Opinion On Kapitus Funding

Kapitus is a top-tier online lender for small businesses, still today. You can work with the lender if you need emergency working capital or another purpose. Our rating of Capitas is 9 out of 10.

Final thoughts

Kapitus is an excellent online lender. However, if you already have time and an excellent credit score. You can simply get a loan from your bank with a better rate and terms than from an online lender.

If you have any questions or comments about this review, please let us know.