Capify Review 2022

  • Updated: 15/01/2022
  • 10 Minute(s) Read
  • 90
  • 90
  • 90
  • 90
  • 90
  • 90



We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

Our Capify review found they offer unsecured business loans between $5,000 and $500,000, with flexible repayment arrangements including daily or weekly payments. The lender places emphasis on a quick and simple online application process, fast approval and funding, and flexible loan terms.

ProductsSmall Business Loans
Merchant Cash Advance (MCA)
Funding Amount$5,000 - $300,000
Loan Terms3 - 12 months
Min. Trading Period6 months (loans) / 3 months (MCA)
Min. Trading Turnover$10,000 p.m. (loans) / $15,000 p.m. (MCA)
Unsecured/Secured Unsecured
Funding SpeedFast
Capfiy logo with words Capify review under it

Loan ProductsShort-term business loanMerchant cash advance
Loan Terms & Funding Size
💰 Loan Amount$5,000 to $300,000$5,000 to $300,000
⏳ Loan Length3 to 12 months3 to 12 months
📆Payment scheduleFixed Daily (no interest)Fixed Daily (no interest)
💳 Line of Credit Available?
Loan Costs
💸Fees3% Origination Fee + Processing Fees3% Origination Fee + Processing Fees
﹪Interest Rate TypeFactor RateFactor Rate
🔓 Unsecured Loans?✔️✔️
👍 Early Repayment✔️✔️
Loan Qualification
🎓 Qualification BasicsABN or ACN, Australian Bank Account, Australia citizenABN or ACN, Australian Bank Account, Australia citizen
15 debit/credit card settlements a month
🛍️ Min. Trading 6 Months3 Months
📅 Min. Turnover $10,000 a month (12 months)
$20,000 a month (6 months)
$10,000 a month
Approval & Funding Speed
🏍 Fast Online Application✔️✔️
💨 Funding SpeedPre-approval in 24 hours if link bank account
Funding within 24 hour of approval
Pre-approval in 24 hours if link bank account
Funding within 24 hour of approval

Capify Advantages and Disadvantages


  • Will consider a business with a weak credit score
  • Works with customer to find loan terms that respect business cash flow
  • No interest rates Capify uses an agreed payback amount for cost transparency
  • SMART Box™ loan statements
  • Loans best for: All industries
  • Cash Advance best for: Restaurants, Retail (online and shopfront
  • Salons/Spas, Auto Repairs, Hotels


  • Not for start-ups
  • No personal loans
  • Limited repayment period
  • Processing and early repayment fees
  • Live chat is often offline during business hours

Capify review of Products – Types of financing available

Capify offers two types of business financing for Australian businesses. Both business loan products can be up to $500,000 and have a maximum repayment term of 12 months. The products available are:

  1. Small business loans
  2. Merchant cash advances (MCA)

Capify merchant cash advance is best for a business that generates its revenue through POS sales. This means businesses that use EFTPOS, debit and credit cards rather than cash for sales. Such business typically includes retail (store and online) and hospitality.

Capify Small business loans

A small business term loan is a suitable solution when you require a fixed amount of funding in return for a consistent repayment plan. Term loans are best when you know how much capital you will need, and you can pay back the loan before it matures.

One thing to note is that Capify does not have a minimum business credit score. Capify base its loan decision on monthly gross sales, daily balance and credit score. This makes Capify an excellent choice if you have a poor credit score. Capify will consider applicants with an unpaid default against their name as long as they have proof of a payment plan.

Quick overview of capify small business term loans

Capify small business term loans eligibility/qualification:

Capify small business term loans eligibility

As Capify loans are unsecured loans, you do not need collateral upfront, for this reason, the lender needs to see your business can repay the loan.

Qualification requirements will depend on the age of your business, with 6 months of trading being the minimum amount. Bank statements will be required to show your business meets this trading requirement meaning Capify is not suitable for startups.

If your business has been trading for 6 months, then monthly turnover should be at least $20,000, Businesses that have been operation for 1 year or longer by on contrast only require $10,000 of month revenue.

Capify doesn’t advertise a minimum business credit score however most businesses look for a credit score of around 500 or above unless they state otherwise.  Capify will consider your application if your credit score is poor, you have existing unpaid default or you are on Centrelink payments. For Capify to approve loans with poor credit history, your business will need to show have adequate cash flow.

Loans below $75,000 are low doc loans and will only need to provide the following paperwork:

  1. previous 6 months Bank Statements for the relevant business account
  2. Front and Back of the owners’ ID
  3. Bank statement with the account name, BSB, and account number

Your Capify loan specialist will advise what documents you require if the loan is above $75,000.

Capify funding size and terms for small business loans

Capify funding terms small business term loan

Capify is a good option for loans of all sizes as long as you can pay the loan within 12 months. A loan of less than one month’s revenue is typically paid in around 3 months.

Your payback amount is a small daily amount to minimise the effect on the day-to-day cash flow of their business.

Capify small business loan costs and fees

Capify business loan costs

Capify does not have interest rates (annual percentage rate (APR) or similar, instead Capify has a total payback amount.  A total payback amount means your business will know upfront what the total cost will be, so you can be assured of complete transparency. You will receive a document that outlines the lenders’ fees and total payback with your quote. This policy differs from most other lenders who use fixes or variable interest rates for your costs.

Like all the best online lenders, Capify is compliant with the Australian Finance Industry Association’s Code of best practice lending principles. This means Capify will provide you with a SMART Box™ statement when providing your quote.

SMART Box™ stands for Straightforward Metrics Around Rate and Total Cost. You consider SMART Box™ as a single-page disclosure document that that summarises all the cost elements of your loan with the lender. This ensures the following:

  • The lender is fully transparent with their costs and there are no hidden fees
  • The quote the lender provides is clear and easy to understand
  • You can accurately compare quotes with other AFIA signatories of the Code of best lending practice principles
SmartBox Comparisons tool

Other lenders that offer SMART Box™ include GetCapital, Lumi, Moula, OnDeck, Prospa and Zip Business. If you wish to compare costs with other lenders, make sure you ask for a SMART Box™ statement from these lenders. With this information, you can compare the Capify quote with other lenders.

Merchant Cash Advance With Capify

Merchant cash advances are like term loans in that you receive a lump sum of funding upfront but differ in the way you pay back the loan.

With an MCA arrangement, you pay back the loan using a percentage of the business daily credit, debit card and EFTPOS terminal sales. This means your MCA payments will vary according to the volume of sales card sales the business makes.

As repayments vary according to the daily sales of the business, merchant finance for businesses with unpredictable or seasonal cash flow.

Quick overview of capify merchant cash advance

When would I choose a Merchant Cash Advance?

a Merchant cash advance is an ideal solution if your business has sales via debit and credit cards or EFTPOS machine and your business has volatile cash flow. If cash flows fluctuate, you may prefer a pay as you go arrangement as this helps you to avoid larger lump-sum payments each period.

If you arrange a Merchant cash advance with Capify then you should ensure you have a card terminal such as Tyro, NAB, ANZ, Commonwealth Bank, St George, Westpac, Suncorp, etc.

A Merchant Cash Advance is right for you if;

  1. Your business accepts credit card or EFTPOS machine sales.
  2. You’re looking to avoid a steep payment at the end of the month.
  3. Your business sales can fluctuate, so you want to pay as you go.
  4. You’re looking for a fast and straightforward business finance solution.

Merchant cash advance eligibility/qualification

Capify merchant cash advance eligibility

The eligibility requirements for merchant finance differ from a term loan with Capify. Your business will need to be earning at least $10,000 a month in gross sales and have been operating for at least 3 months. You will also need to make a minimum of 15 credit or debit card settlements a month.

Capify funding size and terms for merchant cash advances:

Capify funding terms merchant cash advance

The funding size and terms for a merchant cash advance are the same as a term loan with Capify. You can borrow $5,000 to $500,000 and you have 3 to 12 months to repay the loan. The only difference is the repayment structure, which will vary according to your daily EFTPOS takings.

Capify merchant cash advance cost and fees

Capify merchant cash advance costs and fees

Merchant cash advance repayments require the lender to take a fixed percentage of your sales via the EFTPOS terminal, credit card and debit cards until the advance paid in full. Repayments occur automatically each day the business is open. Capify doesn’t advertise the percentage that you will pay back each day (known as the ‘holdback’ rate).

Capify review for ease of application and application process

Capify application process

The Capify online application only takes minutes. There is no cost to apply or obligation to complete the application or accept a loan offer. The application process comprises 5 steps.

  • Business Details
  • Loan Details
  • Business information
  • Personal Information
  • Bank Statement – Fast Track Application.

By linking your bank statement with, you can receive your funding in as little as 24 hours. Capify takes manual statements however this will delay the pre-approval process.

As part of the application process, you will need to give Capify approval to perform a credit check of your business. Should you not wish to have a credit check, Capify can give you a ‘look-alike’ offer however this offer will still be subject to Capify investigations such as your credit score.

If Capify has all the information to assess your application, pre-approval for term loans can take 2 to 24 hours and up to 48 hours for cash advances.

Capify will supply funds to your nominated bank account within 24 hours after this time. If funding is not urgent, Capify can use this time to a wider range of loan terms that may be more favourable to your needs.

The Information you will provide as part of your application will vary depending on if you are after a business term loan or merchant cash advance and the size of the loan. Capify uses a factor rate to calculate your loan amount. This means the lender will assess the level of risk your business presents along with your daily balance, gross monthly sales, and your credit score.

Capify allows low doc applications, which means if you are applying for a loan or advance of less than $75,000 then you will not need to financials, tax returns, or BAS.

Application information – For loans or Advances under $75,000

  • Last 6 months Bank Statements of the business account
  • Driver’s license for the owner of the business
  • Front of the official cover page of the bank statement (confirming account name, BSB, and account number).

Application information – For loans or advances greater than $75,000

  • Bank statements for the last 6 months (Capify may require longer for larger loans) and/or Merchant statements for the last 4 to 6 months (if applicable)
  • Driver’s license for the owner of the business
  • Proof of ownership

With Capify you can apply for short-term loans or merchant cash advance of $5,000 to $500,000 for 3 to 12 months. Capify does not offer other loans, such as long-term business loans or lines of credit.

Capify review of funding speed

Capify funding speed

If you provide Capify with all information correctly with your application and link your bank account, then you can receive pre-approval within 24 hours. If you don’t link your bank account or permit Capify to run a credit check during the application, then pre-approval can take 48 hours (or longer).

When you agree to loan terms with Capify, you will receive funds in your nominated bank account within 24 hours. If you need funds urgently, Capify can work with you for a solution.

What can you use a Capify loan for?

As part of your application, you will need to list how you intend to use the funds. Capify does not list any restrictions regarding how you use the funds.

Capify provides the following examples that their customers have used for funds:

  • Day to day expenses
  • Equipment
  • Expansion
  • Hiring staff
  • Inventory
  • Marketing
  • Renovation
  • Tax
  • Unexpected expenses
  • Working capital
  • Other
  • Pay bills
  • Marketing
  • Hiring extra staff
  • Purchasing stock
  • Improve cash flow
  • Purchasing a business car or truck
  • Renovating or expanding the business
  • Upgrading or purchasing equipment
Types of ways you can use a Capify Business loan

Repayment Terms

If you have a term loan and wish to find out the balance of your loan, you will need to call Capify and speak with your relationship manager or send Capify an email. Some clients may find this inconvenient and prefer a lender that allows you to see your balance through the lenders’ platform. If you have an MCA, then you can access a list of your transactions via the Capify platform.

Payments for the loan are daily, other options such as weekly or monthly payments are not available.

Capify allows early repayments however since they do not base your total payback amount on interest, your main cost saving will be on other costs such as daily debit amounts. If you fall behind on your payment in the first 30 days of the loan, then Capify may ask for a clawback.

Should you wish to top up your loan, you can apply when 50% of your existing loan is paid. If in the future you wish to re-apply for a term loan, Capify will pre-approve your last loan as long as you can show your cash flow has not changed. The amount Capify will fund will, however, depend on bank statements for the last 6 months.

Capify review of Customer Service

Capify customer support is available during business hours. You can contact them by phone, email and live chat. We found the live chat interesting as most Australian lenders don’t have this feature, the main issue is that every time we tried it, the live chat box seemed to be down. We left an email with Capify but did not receive replies, which is disappointing.

Capify review of customer reviews – Trustpilot

Trustpilot customers rate Capify as excellent with 5 stars giving a TrustScore of 4.8 from 296 reviews. Feedback sentiment praises their customer feedback with some noting their ability to help customers needing extra help because of covid-19.

TrustPilot gives Capify 4 start rating

Our Capify review conclusion

With 2 distinct financing options, Capify should have a solution that will offer you the business finance you require.

If you choose an unsecured business loan, then you can choose up to $500,000 but know that you will only have 12 months to pay the loan. On the plus side, repayments are daily and you pay an agreed amount through the life of the loan. This avoids any large repayments and interest fees.

A Merchant cash advance is an option your business relies on EFTPOS, debit and credit card sales.  As you only pay a portion of your sales, your repayment should be hassle-free as you don’t need to actively manage your repayment. It is worthwhile comparing your merchant finance fees with business loans as this type of finance can be more expensive.

About Capify

Capify has the simple goal of providing tailored and flexible solutions to help business manage their finances. Since its foundation has made over 15,437 loans right across Australia. In 2019, Capify secured a 135 million credit facility extension with Goldman Sachs, which highlights both its success and commitment to Australian small business owners.

Capify has a large international presence. The business was founded by David Goldin in New York and is known as AmeriMerchant. Later Capify went international with United Kapital in the United Kingdom, True North Capital in Canada, and AUSvance in Sydney, Australia all being merged under the Capify umbrella.