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RATED:
Our Bizcap review found this SME lender offers larger loans than most competitors with same day funding. With loans of $5,000 to $600,000, Bizcap should be one of the first choices for loans of significant size. This is especially true if you need funds fast, as Bizcap is the only lender that can approve and provide funding on the same day as application.
Key features of Bizcap include:
| 🗺️ Products | Business Loans |
| 💰Funding Amount | $5,000 to $600,000 |
| 📊 Loan Terms | 3 to 12 Months |
| 💰 Min. Trading Period | 6 Months |
| 💰 Min. Trading Turnover | $10,000 per month |
| 🛍️ Unsecured/Secured | Unsecured |
| 💳 Funding Speed | Same day approval and funding |
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| Loan Products | Short-term business loan |
|---|---|
| Loan Terms & Funding Size | |
| 💰 Loan Amount | $5,000 to $600,000 |
| ⏳ Loan Length | 3 to 12 months |
| 📆Payment schedule | Fixed Daily (No interest) |
| 💳 Line of Credit Option?? | ❌ |
| Loan Costs | |
| 💸Fees (exc. interest) | Origination Fee + Agreed payment amount |
| ﹪Interest Rate Type | No interest rates (agreed amount) |
| 🔓 Unsecured Loans? | ✔️ |
| 👍 Early Repayment | ✔️ |
| Loan Qualification | |
| 🎓 Qualification Basics | ABN or ACN Australian Bank Account Australian citizen |
| 🛍️ Min. Trading Qualification | 6 Months |
| 📅 Min. Turnover Qualification | $10,000 gross monthly turnover |
| 🗎 Low Doc Loans | |
| 😕 Bad Credit OK? | ✔️ (No minimum credit score) |
| Approval & Funding Speed | |
| 🏍 Fast Online Application | ✔️Same day approval |
| 💨 Funding Speed | Funding in as little as 3 hours |
Bizcap Pros and Cons
Pros
Cons
Types of Financing Available
Bizcap qualification for loan
Minimum Time Business
6 Months
Minimum Turnover
$10,000 Per Month
Credit History
Previous loan default ok
No Min. Credit Score
(Bad credit ok)
Other
Can have existing loan with other lenders
Bizcap review of funding size and loan terms
Loan Amount
$5,000 – $600,000
Term Length
3 – 12 Months
Payment Schedule
Daily, Weekly
Low Doc Loans
N/A
Unsecured/
Secured
Unsecured
Bizcap loan costs and fees
Origination Fee
Varies
Interest Rate
Factor rate (no interest rate)
Other Costs
Admin fee
No Hidden fees
✓
Early Payment Permitted
✓
Cost features to note:
- No interest rate charges, pay an agreed fixed payback rate each payment period
- Variable origination fee and admin fee, which is included in the net total amount
- No early repayment penalty, no transaction fees
Payments are straightforward, Bizcap will use your bank account, debit or credit card details for automatic payments.
Bizcap review for ease of application
Bizcap allows you to apply for a loan either through an online application or with a phone call with a loan consultant. The SME lender’s online application takes only 5 minutes.
The application process comprises 4 steps.
- Start Business Loan Application – Name, email, number, state
- Business Details
- You Details
- Business Date
- Last steps
Bizcap encourages you to provide bank link details not having these details can delay the approval process. They will, however, accept a PDF or CSV file of your bank record should you prefer.
Bizcap funding speed
Online Application
Minutes
Approval
2 Hours
Funding
Same day as application possible
What can you use the loan for?
Repayment Terms
- Fixed Daily, Weekly repayment
- The repayment is the same for each payment period. This is a fixed amount, so will not depend on interest fees.
- If you wish to apply to renew your loan, you can do this once you have paid 50% of your existing loan balance.
Bizcap customer support
BizCap customer review – Trustpilot
Our Bizcap review conclusion
Bizcap has 3 key selling points that give them a strong appeal when compared with other lenders. These are access to larger loans than most lenders, fast same-day application to funding turnaround and a willingness to help businesses that may struggle to get loans with other lenders. If your business falls into any of these 3 selling points, then chances are Bizcap is the best lender to help your business.