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SnapCap review

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Reviews 608

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Katy Ward
Katy Ward
Nov. 16, 20214 min read

SnapCap summary

Founded in 2012, SnapCap, powered by LendingTree, aims to be at the forefront of the alternative lending revolution by focusing on the overall health of a business rather than its owner’s individual credit score. Once you have entered your details into its website, its proprietary technology will present you with a range of offers from its partners. Business owners can borrow up to $1,000,000 and receive funds in as little as 24 hours.

Pros

  • Borrow up to $1,000,000
  • Paperless application
  • Funds deposited in as little as 24 hours

Cons

  • 24/7 customer support not available
  • Potentially high volume of calls/emails from lenders
SnapCapat a glance
4.4

Editorial score

Online experience

Good online resources, but no mobile app

4.0

Customer services and support

Multiple ways of reaching lender, wide range of hours

4.0

Variety of loan types

Offers most loan types

4.0

Loan amount range

Loan amount $500K+

5.0

Eligibility

Loans available to most credit types, revenue levels, and businesses

5.0

SnapCap SnapCap Visit SnapCap

Overview

Since its launch in 2012 and acquisition by LendingTree in 2017, SnapCap has helped businesses secure almost a billion dollars in funding. The company aims to simplify the borrowing process for businesses and claims “its technology cuts through the minutiae of big bank lending.” It also strives to deliver faster turnaround times than traditional banks and doesn’t include any minimum capital requirements.

To qualify for a loan, you’ll need to meet the following requirements:

  • Have a monthly gross revenue of $8,000 or more 
  • Be based in the US

Why SnapCap Is Good For Your Business

Powered by LendingTree, SnapCap can provide you with access to a wide range of potential lenders through a single paperless application process. As with any aggregator, this can drastically reduce the amount of time you spend searching for a lender. 

While many traditional lenders require borrowers to have been in business for at least 3 years, SnapCap sets this length of time at 1 year, which means the company could be a good match for business owners new to the market. 

Loan Features

You can apply for the following loan types:

  • Business loans
  • Working capital
  • Small business loans
  • Expansion loans
  • Inventory loans
  • Equipment loans

As SnapCap works with a panel of lenders, the features of the loan you receive will depend on the provider you choose.

Depending on your chosen product, you may pay an origination fee, which will be itemized in your loan documents.

Application Process

If you would like to apply for a loan, you can do so online by providing information such as:

  • Your business type
  • The amount you need to borrow
  • The purpose of your loan
  • Your business start date
  • Your annual revenue
  • Your credit score
  • Your zip code and contact details

You’ll then see a range of quotes from various lenders that meet your borrowing requirements. If you would like to proceed with any of these, you can do so by applying online through the partner’s website or calling the company you’ve selected. 

At this stage, you may also receive calls and emails from these potential lenders. If you’d like to opt out of receiving these, you’ll need to call SnapCap directly to receive your quotes.

If you find a suitable lender, you’ll normally need to provide 3 months of business bank statements during the application process.

Under normal circumstances, you should receive the money within 48 hours, although this could be as little as 24 hours, depending on the lender you choose.

How Much Can You Borrow?

Although the amount you can borrow will depend on your business’s circumstances, SnapCap and its partners typically offer loans of between $5,000 and $1,000,000.

Repayment Terms

While exact repayment terms will depend on the partner you choose, these are typically between 3 and 18 months. The interest rate you pay is also set by your lender and will likely be determined by factors such as:

  • Your recent business performance
  • Your industry
  • Your loan amount and term

How Safe Is It?

Although security features will vary with every partner, SnapCap has an extensive privacy policy on its website, which details how it shares your data with its partners and affiliates.

Help & Support

You can contact SnapCap by phone or email between 9am and 7pm (EST), Mondays to Friday. You’ll receive contact details for any potential borrowers and partners during the application process.

SnapCap also has a fairly detailed selection of FAQs, which answered most of our questions.

If you’d like to check how much you can borrow, you can enter details of your annual revenue and last month’s deposits into an online calculator to see an estimate of your borrowing potential.

(T) 888-313-4352

(E) info@snapcap.com

Summary

If you’re seeking a source of funding that takes a holistic view of your business and doesn’t rely on old-fashioned borrowing criteria, SnapCap and its partners have a great deal to offer. When we entered our details into its website, we did receive a high volume of calls and emails from potential lenders, which could prove off-putting for certain customers. That said, we were impressed by SnapCap’s flexibility in reducing minimum time-in-business requirements and the possibility of receiving funds in as little as 24 hours.

Physical Address

701 E Bay St, Suite 414, Charleston, SC 29403, US

SnapCap SnapCap Visit SnapCap

Katy Ward
Written byKaty Ward

Oxford graduate Katy Ward is a seasoned journalist and editor covering personal finance and software topics for Eleven Writing and Top10. Over a 15-year career, Katy has worked with several finance titans, including Barclays, Tandem Bank, and Yahoo! Finance. She writes for BestMoney and enjoys helping readers make sense of the options on the market.‎

SnapCap
SnapCap
ExcellentReviews 608
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Trustpilot reviews

See what some costumers are saying about SnapCap
SnapCap
ExcellentReviews 608
on
Excellent
93%
Great
4%
Average
1%
Poor
1%
Bad
1%
  • author
    Kent
    Jan 01, 1970
    Fast,easy and very helpful.

    Fast,easy and very helpful.

    ...

  • author
    Tanya
    3 days ago
    They did a business loan for our local…

    They did a business loan for our local business here in Washington state and they were very efficient and quick and funding came within a couple hours I would definitely recommend them if you need funding for your business

    ...

  • author
    Michael Barkley
    Sep 25, 2022
    Good job Lilliana Cole

    Good job Lilliana Cole, Thank you. --mike

    ...

  • author
    Jonathan
    Sep 23, 2022
    Great communication throughout the…

    Great communication throughout the process and made the transaction easy.

    ...

  • author
    Earl
    Sep 22, 2022
    Wonderful experience and hassle free

    Wonderful experience and hassle free. The team understood how busy small business owners can be and scheduled meetings at the convenience of the business owner! Excellent customer service and very easy lending platform. Would do it again!

    ...

  • author
    Samantha
    Sep 19, 2022
    Very helpful and personable!

    Mitchell was so helpful and personable! He wasn’t pushy or anything either! He helped us find great options for our business and helped us to understand what the best option would be for what we needed! Definitely recommend!

    ...

  • author
    Brian
    Sep 01, 2022
    Smooth

    I can't say enough how easy the process was. I was funded in less than 24hrs. The terms are reasonable and in line with the current market. The interest rates are a little high but not to many places will fund you within 24hrs and being able to pay it back early with no fees makes up for it.

    ...

  • author
    Mark
    Sep 01, 2022
    Got us the money we needed fast and…

    Got us the money we needed fast and very helpful staff not a lot hassle Thank you

    ...

  • author
    Nancy Pridgen
    Sep 01, 2022
    Brian was great with this process

    Brian was great with this process. Thanks!!

    ...

  • author
    camly
    Aug 24, 2022
    i love that very kind and faster

    i love that very kind and faster. i will send for your more customer

    ...

  • author
    Larry
    Aug 17, 2022
    Excellent

    Met my need immediately

    ...

  • author
    Albert
    Aug 16, 2022
    Zak and his partners got us the funding…

    Zak and his partners got us the funding we needed to iron out some cash flow issues. They were direct and fought for the full amount we needed. Funding was overnight once we finalized our call with the underwriter.

    ...

  • author
    Michael
    Aug 16, 2022
    Positive and Professional - Fast Funding

    This is an authentic review of my positive experience with SnapCap. I’ve had my business for 6 years and had never considered this type of financing previously. However, some of my major clients have been slow paying, my receivables have gotten delayed and I found myself in need of a cash infusion. Like many business owners, I have been inundated by calls and emails and texts about providers of alternative financing, which is non-secured and a fast turnaround, but also more expensive than more traditional lending. I talked to a couple of these loan brokers and saw a couple of offers. However, the payment terms and costs were quite significant. There was some pressure to sign fast, and I was feeling a lot of anxiety about things. I decided to look at some other options. I recognized the “Lending Tree” name from their mortgage brokerage business and I sent an inquiry. I received a quick reply from Kyle with SnapCap. I saw that SnapCap is a business that Lending Tree acquired a few years ago. Kyle was unlike the “typical loan broker” that I had spoken with, I just felt that I was dealing with someone with more of a professional attitude, no pressure. I submitted all of my info and in a day, he called me back with an offer that was significantly better than the other offers I had seen, in terms of the amount of cash, the length of repayment and the amounts of repayment. Yes, this type of financing is expensive, but the offer that SnapCap generated was a lot better than others. The process from their getting me the offer, to getting cash in my account was professional and fast, I had the cash within hours. The anxiety that had been hounding me was lifted quickly. Their repayment terms are manageable. I know that the repayment is more expensive than more traditional financing, but I didn’t feel as if I was being “fleeced” which other loan brokers made me feel. I felt like this was a good option for a tough situation, and that the company will be a good partner moving forward.

    ...

  • author
    MICHELLE
    Aug 08, 2022
    Clare was wonderful to work with

    Clare was wonderful to work with. She was professional and easy to communicate with. The process was easy and fast. Will absolutely work with her again in the future for any financial needs.

    ...

  • author
    Edd
    Aug 05, 2022
    Great Help!

    The whole team was clear and transparent the entire time, and I am extremely satisfied with the help I received! Great job!

    ...

  • author
    Misha C.
    Aug 03, 2022
    Excellent services

    The team I had was very proficient and professional! Helped me through every step of my application and underwriting process. They were very patient!

    ...

  • author
    daren
    Jul 25, 2022
    Great experience.

    Great experience.

    ...

  • author
    James
    Jul 24, 2022
    Easiest process ever

    Easiest process ever. Approval process was quick and easy, the people were friendly and helpful, and the money was in my account in record time.

    ...

  • author
    Roosevelt
    Jul 24, 2022
    The process was very easy and smooth

    The process was very easy and smooth. Provided all documentation that was asked for and was connected to a lender that matched our needs.

    ...

  • author
    John Bunting
    Jul 23, 2022
    Great service and options.

    Great service and options.

    ...

  • author
    Nicholas
    Jul 21, 2022
    Really fast and professional

    My small business needed a little funding to help ease the slow season for us until August and they were prompt and professional. Will for sure use them again.

    ...

  • author
    Qianyan Zhu
    Jul 17, 2022
    Loan process.

    The lender was very quick in process our loan, which was very helpful to us.

    ...

  • author
    Lak
    Jul 14, 2022
    Love get quick result

    Love get quick result

    ...

  • author
    Cheri
    Jul 10, 2022
    Service was fast and polite

    Service was fast and polite. That’s really all I needed.

    ...

  • author
    Marcus
    Jul 03, 2022
    Lending Tree is our new business partner

    Lending Tree made our loan process to easy and stress free!! They were very responsive with our options and rates making it so easy to understand. Their team went above and beyond for us and made me very comfortable without any pressure to commit on any offers. I highly recommend Lending Tree for all your business loan options.. Thank you Lending Tree Marcus

    ...

  • author
    Edgar Thomas Smith
    Jun 30, 2022
    Another Seemless Transaction

    Another Seemless Transaction

    ...

  • author
    Antonio
    Jun 28, 2022
    Mitchell was great

    Mitchell was great! He made the process very simple and it was quick.

    ...

  • author
    kenneth
    Jun 27, 2022
    Well I'm glad you were on time with…

    Well I'm glad you were on time with helping us with the 0ur payroll I am very grateful

    ...

  • author
    noelle
    Jun 25, 2022
    Process was quick and easy

    Process was quick and easy

    ...

  • author
    Ruksana
    Jun 21, 2022
    The entire process was very simple and…

    The entire process was very simple and quick. Everything worked out just as the sales rep. stated.

    ...

  • author
    Melanda
    Jun 17, 2022
    They was great from the start to the…

    They was great from the start to the finish. Timing was great as well

    ...

  • author
    KALPANA
    Jun 16, 2022
    You guys are little costly but very…

    You guys are little costly but very fast and professional

    ...

  • author
    Graham
    Jun 15, 2022
    Well done!

    Well done! I was very pleased with their work! I would highly recommend them!

    ...

  • author
    Customer
    Jun 13, 2022
    Great company to work with

    Great company to work with. The process was quick and easy.

    ...

  • author
    BC
    Jun 11, 2022
    Excellent company

    Excellent company. Upfront and completely transparent about their fees and the whole business loan process. I used them before and will do so again Very Happy!!

    ...

  • author
    David F
    Jun 10, 2022
    Awesome company and representatives.

    Awesome company and representatives.

    ...

  • author
    Frank
    Jun 10, 2022
    Fast

    Fast, friendly all upfront and funded

    ...

  • author
    Randy
    Jun 08, 2022
    you guys are awesome

    you guys are awesome ! pleasure doing business with you

    ...

  • author
    Zeke Creasy
    Jun 05, 2022
    Amazing and ProfeZZional!

    Amazing and ProfeZZional!

    ...

  • author
    Stacie
    Jun 04, 2022
    A great easy experience

    A great easy experience

    ...

  • author
    Joseph
    Jun 04, 2022
    Service was excellent

    Service was excellent, funding was quick. Rates a bit high tho.

    ...

  • author
    Scott
    Jun 02, 2022
    Awesome services

    Awesome services, will be doing a lot of business with them in the future for sure!

    ...

  • author
    Jason
    May 29, 2022
    Tony P was great

    Tony P was great, fast and efficient. He clearly explained everything.

    ...

  • author
    Manuel
    May 25, 2022
    Snapcap did a great job

    Snapcap did a great job, I’m thankful that they Worked on my loan they made everything easy and they are the best… thank you so much.

    ...

  • author
    Kristen
    May 24, 2022
    Patrick was amazing and stayed on top…

    Patrick was amazing and stayed on top of the process while answering every question I had no matter what time I asked. I had a wonderful experience with this process and I highly recommend this company for small businesses in need.

    ...

  • author
    Michael
    May 21, 2022
    Many options.

    Christian Massamillo was a big help. Filled out application on Saturday, given choices by Tuesday. Had money in account Wednesday.

    ...

  • author
    Michael
    May 21, 2022
    Quick and easy had funds the Same day!

    Quick and easy had funds the Same day!

    ...

  • author
    Ronald
    May 20, 2022
    Very good great customer service

    Very good great customer service, very helpful at explaining in detail the contract and all questions pertaining. highly recommended

    ...

  • author
    Ortho Doctor
    May 14, 2022
    Seamless and smooth process

    Seamless and smooth process. Funds were delivered quick.

    ...

  • author
    rosalina
    May 12, 2022
    Happy with the service

    Happy with the service

    ...

  • author
    Sebastian
    May 11, 2022
    Customer Service and timing is…

    Customer Service and timing is excellent!

    ...

  • author
    Jason M
    May 07, 2022
    Quick and Tailored Process

    Quick and easy to get funded. They worked with us when certain required docs or info were unavailable at the time of underwriting.

    ...

  • author
    Laurie verardi
    May 06, 2022
    great service

    great service , pleasant and quick!

    ...

  • author
    Dien
    May 05, 2022
    Zak is awesome super fast easy business…

    Zak is awesome super fast easy business loan.

    ...

  • author
    customer
    Apr 30, 2022
    Marcus was great from the start to the…

    Marcus was great from the start to the end.

    ...

  • author
    Linda
    Apr 29, 2022
    Quick cash. We needed some extra operating cash for…

    we needed some extra operating cash for a short period of time. The process was quick and professional. We were happy with the results

    ...

  • author
    Richard
    Apr 24, 2022
    Easy process

    Easy process. Friendly and efficient staff.

    ...

  • author
    kelton henderson
    Apr 24, 2022
    Quick and fast process

    Quick and fast process. Lines of communication was very open from text to email. Clare really made the process very easy.

    ...

  • author
    Alfredo
    Apr 22, 2022
    Matthew was very helpful and clearly…

    Matthew was very helpful and clearly explained all out loan options and set us up with the most appropriate loan amount.

    ...

  • author
    Tito
    Apr 20, 2022
    We are very happy with the process

    We are very happy with the process. Our representative was always helpful, answered all our questions and ultimately was able to get the deal we wanted.

    ...

  • author
    Domingo
    Apr 18, 2022
    Great and easy service

    Great and easy service

    ...

  • author
    Donald
    Apr 18, 2022
    Made the whole process easy!

    Made the whole process easy!

    ...

  • author
    Michael
    Apr 14, 2022
    What an awesome experience

    What an awesome experience! They made the entire process simple and got our funds fast! Very friendly and easy to work with. Thank you for listening to our needs and helping us get the funding we needed! Would recommend them.

    ...

  • author
    Daniel
    Apr 13, 2022
    Super helpful

    Super helpful. Many thanks to Danielle.

    ...

  • author
    Yixuan
    Apr 07, 2022
    The SnapCap representative was…

    The SnapCap representative was extremely understanding and helpful in ensuring she met our funding needs.

    ...

  • author
    Mary
    Mar 31, 2022
    Excellent communication and fast…

    Excellent communication and fast efficient funding!

    ...

  • author
    Joe E.
    Mar 29, 2022
    Very easy process and terrific customer…

    Very easy process and terrific customer care!

    ...

  • author
    Douglas
    Mar 26, 2022
    Great

    Great, professional and comfortable experience.

    ...

  • author
    Steven
    Mar 26, 2022
    Easy process and manageable payments…

    Easy process and manageable payments for small business loan. Highly recommend.

    ...

  • author
    Kevin
    Mar 23, 2022
    The agent was great to work with and…

    The agent was great to work with and made it easy to get a line of capital to work with! Will be working with them in the future for sure

    ...

  • author
    Regina
    Mar 22, 2022
    Great service

    Great service

    ...

  • author
    Done Rite Lines
    Mar 22, 2022
    Quick an easy financing.

    Quick an easy financing.

    ...

  • author
    Pamela
    Mar 21, 2022
    Excellent communication!

    Excellent communication!

    ...

  • author
    Daniel
    Mar 21, 2022
    Fantastic help

    Fantastic help

    ...

  • author
    Anne
    Mar 12, 2022
    Efficient

    Efficient , quick , and up front about disclosing everything before you even get a quote or offer. Andrew is amazing.

    ...

  • author
    Ronald
    Mar 10, 2022
    Good service

    Good service

    ...

  • author
    Shawn
    Mar 09, 2022
    Process was east and extremely fast

    Process was east and extremely fast! All terms were simple and completely clear! Thank you!

    ...

  • author
    Aaron Regans
    Mar 07, 2022
    My loan officer was great to deal with.

    My loan officer was great to deal with.

    ...

  • author
    Matthew
    Mar 07, 2022
    Brian was professional and responsive

    Brian was professional and responsive. Great person to do business with.

    ...

  • author
    Theresa
    Mar 07, 2022
    Very quick and efficient

    Very quick and efficient. Everything is electronic.

    ...

  • author
    Roberto
    Mar 03, 2022
    Great fast service!

    Great fast service!

    ...

  • author
    JP
    Mar 01, 2022
    Very quick and easy to work with

    Very quick and easy to work with. Found several options for me and took the time to explain each option.

    ...

  • author
    Jeff
    Feb 26, 2022
    Great experience!

    Great experience. Highly recommend

    ...

  • author
    Tyler
    Feb 23, 2022
    Great customer service and great…

    Great customer service and great options, quick turnaround time.

    ...

  • author
    Todd
    Feb 22, 2022
    Contractor Financing

    We had an excellent experience and would work with Lending Tree again.

    ...

  • author
    Herb
    Feb 20, 2022
    Timely

    Timely, straightforward, professional,

    ...

  • author
    Carol
    Feb 17, 2022
    Marcus was great to work with

    Marcus was great to work with - responsive, super fast, and engaged. The entire experience took about two days - and funded shortly thereafter. Highly recommend.

    ...

  • author
    Jeremiah
    Feb 15, 2022
    The best!

    Zak was so helpful and made getting our business loan a breeze! 10/10 recommend!

    ...

  • author
    Dony Adair
    Feb 12, 2022
    Working with SnapCap is easy and quick!

    Working with SnapCap is easy and quick. A great resource to have when in need for business financing.

    ...

  • author
    John
    Feb 01, 2022
    I worked with Brady

    I worked with Brady, he was professional and stayed on top of our application through the entire process.

    ...

  • author
    Nick
    Jan 29, 2022
    Very fast and easy!

    Very fast and easy!

    ...

  • author
    Loh
    Jan 29, 2022
    Best and fastest ever!!!

    Best and fastest ever!!!

    ...

  • author
    Christopher
    Jan 27, 2022
    I honestly could not believe how easy…

    I honestly could not believe how easy they made this for us. I actually said out loud to my rep that I wasn't sure if i should be suspect of these people whom Id never met or spoken to less than a day ago. he laughed and i laughed. But it was a really easy process, especially if you have all your current financial information at the ready. We were given few different options and within a day i had my approval and our funds deposited 2 days after that. I don't want to have to take out a loan to run my business but this past six months has been really bad for receivables - people just delaying payment. This team is helping us continue to work through these payment delays.

    ...

  • author
    KEVIN at CUSTODIAL-PLUS
    Jan 26, 2022
    VERY PLEASED

    VERY PLEASED! Our need was very urgent and SnapCap came through within 36 hrs. Many options for funding (capital available/rates/durations/pymt amts) were presented openly, without bias, and with NO PRESSURE - pros & cons fully explained.

    ...

  • author
    John
    Jan 26, 2022
    Andrew was amazing through the whole…

    Andrew was amazing through the whole process! you delivered exactly what you promised thank you so much

    ...

  • author
    JLP
    Jan 21, 2022
    OnDeck representatives were very…

    OnDeck representatives were very professional, kind with great people skills. The application process was simple. The funding options were thoroughly explained. The funding time was extremely fast. As a small business owner I am completely satisfied.

    ...

  • author
    David F
    Jan 18, 2022
    Awesome and easy to deal with.

    Awesome and easy to deal with.

    ...

  • author
    Zachary
    Jan 16, 2022
    Great job

    Great job. Was an overall and easy and friendly sky process

    ...

  • author
    Tanya
    Jan 16, 2022
    Jon was super responsive

    Jon was super responsive, helpful and knowledgeable.

    ...

  • author
    Michael
    Jan 14, 2022
    Very easy

    Very easy, painless and fast!

    ...

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