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SnapCap review

Reviews 715
SnapCap
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SnapCap
SnapCap
Excellent
Reviews 715
Katy Ward
Nov. 16, 2021
2 min read
Katy Ward
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

SnapCap at a glance

8.8
Editorial score

Online experience

Good online resources, but no mobile app
8.0

Customer services and support

Multiple ways of reaching lender, wide range of hours
8.0

Variety of loan types

Offers most loan types
8.0

Loan amount range

Loan amount $500K+
10.0

Eligibility

Loans available to most credit types, revenue levels, and businesses
10.0

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 by
Katy Ward
Oxford graduate Katy Ward is a seasoned journalist and editor covering personal finance 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 enjoys identifying complex financial trends that make for interesting article topics.
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Trustpilot reviews
See what some customers are saying about SnapCap
SnapCap
Excellent
Reviews 715
on
Excellent
93%
Great
3%
Average
1%
Poor
1%
Bad
2%
R
risen video production
a month ago
The Staff was able to understand my…
The Staff was able to understand my financial goals and help me get the best rate.
c
customer
a month ago
Everything was very simple...but maybe too simple.
Everything was very simple, but maybe too simple. I wasn't sure I would take the draw or work with Headway because all of the numbers were kept secret until I selected my first draw. I kept the initial draw as low as I could because I had NO IDEA what the terms of the line of credit were. That left me feeling in the dark and a bit take advantage of. All of that aside, the numbers were not the best. The application and signatures processes were very simple and the online portal is very easy to use. All this said, I am thankful we got lending and we have Headway to thank.
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david a
2 months ago
🌟 Five stars for my amazing lending…
🌟 Five stars for my amazing lending company! They made the process so convenient and provided same-day funding, which was a game-changer for the expansion of my business. Their support and dedication are truly commendable. Highly recommended! 💼💪🏼✨
M
marc spaeth
2 months ago
Fast and easy
Fast and easy. Will did everything he said.
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wes frazier
2 months ago
Run from this place. Huge red flags
Run from this place. They sell your info and share your bank statements with non licensed scam companies. I declined their offer and after that my phone is a 24 hour spam hotline of call centers that somehow have all my business info. Tony Park is the guy I worked with. Do not recommend. Highly unprofessional company.
C
christal gerhart
2 months ago
Very responsive to my questions and…
Very responsive to my questions and correspondences.
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helen nguyen
2 months ago
Quick and easy
Quick and easy , Thank you so much
r
rosalina
2 months ago
Good service and fast.
Good service and fast.
c
customer
2 months ago
So helpful and informative
Martha was so helpful and informative. Great experiance accross the board.
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hollie chaffin
2 months ago
Great customer service
Great customer service, follow through, follow up and connecting after the transaction. Thank you for the professional service!
c
customer
2 months ago
The agent that I worked with
The agent that I worked with, Byron, was outstanding. He followed up with me while I was deciding whether to go forward. Was not pushy, just helpful. Very informative and decent.
F
frances lincoln
2 months ago
We had a great experience!!
We had a great experience. Everyone explained everything along the way. We never felt in the dark and Zak and Martha both stayed in near constant contact with us. We knew that things could take a while for approvals and such but they kept at it constantly to get things closed super quick!!
K
kimt
2 months ago
Experience
Once my information was submitted I was contacted in a very timely manner. Everyone was very professonal and nice. My loan was deposited into my account very quickly. I appreciate all of the staff that I associated with.
D
denise phillips
2 months ago
They were very helpful and quick!
They were very helpful and quick!
K
kathy snizaski
2 months ago
Trent was great to go over all of my…
Trent was great to go over all of my options.
D
dv wilson
3 months ago
Excellent Service
The important thing in my business is getting things done , Christian exemplifies that in his service; Par excellence
R
rhonda stephensr
3 months ago
Fast and Easy
It was very fast and and easy.
E
e senn
3 months ago
Thank you
Thank you, Trent, for making the process seamless!
c
customer
3 months ago
exceptionally attentive
exceptionally attentive. clearly communicated. were with me every step of the way and incredibly responsive. turned things around in a day!
D
danzinger vineyards llc
3 months ago
Surprising outcome
I was guarded going into this process not really knowing what to expect from an online provider like this. I didn’t get what I was looking for in the beginning, but ultimately got a very useful revolving line of credit with very reasonable terms. Andrew worked hard to provide us with something since our business has very little established credit and this will serve us well as we continue to build our business.
A
a lied to customer
3 months ago
1/10 Would not recommend Lending Tree/ Snap Cap
While we did eventually receive our funding, I found both of our principles at Snap Cap to be misleading, dishonest, and deceptive. We applied for exactly what we needed to fund the purchasing of raw materials for a large purchase order. There wasn't time to onboard a purchase order financing company as the PO is due in 30 days, although we'll have time to find one moving forward. After submitting all of the information they requested, I received an email from Shane that stated: "Thank you for Applying with us here at LendingTree. I am happy to have (my company) approved for business funding Today! (loan amount and terms were here) Please let me know if you want to move forward with this Loan Approval, and we can complete your Loan Closing today!" This verbiage means that our loan had been approved. So, I reviewed and signed the contract for the amount, and waited for my funding phone call as instructed since we were approved. I found out three days later that it was actually a "pre-approval", although that's not what was stated. This was after we proceeded forward with purchasing and everything we needed for our purchase order, but in the end, we received half of what we were originally "approved" for, had to pay more for the funding, and are now almost actually where we were prior to the loan approval. Had I known that was only a pre-approval, we would have waited to purchase materials. All they could say was "sorry". If you're a business owner funding a purchase order, I would highly recommend to work with a purchase order financing company over Lending Tree, Snap Cap, or any of the Lending Tree products. Take the time, it'll be worth it.
C
cr
3 months ago
Efficient
Efficient and clear
c
customer
3 months ago
Straight forward deal
Straight forward deal
O
objective customer
4 months ago
Ok but not customer friendly
In the end we got what we needed so I’ll start with that. But I thought they were a little pushy and we had to haggle over some benefits that they initially promised.
c
customer
4 months ago
Quick and easy Sara was heaven sent.
Quick and easy Sara was heaven sent.
r
ricardo rivero
4 months ago
Great service fast reliable and…
Great service fast reliable and courteous. Game changer for small businesses. I definitely will recommend this company.
J
johnathan w.
5 months ago
Misleading information
They don’t tell you they get compensated for their involvement, which is hidden in your rates. Further they approach you by claiming to have worked on your account which is technically true, but is misleading and they know it. They do it to build trust which they haven’t earned. Stay away from this company. If you do have to work with them, demand in writing before you sign any deal what their take is and who pays it? Then you’ll know you did.
R
rob doherty
5 months ago
Brian Janiak was very through in the…
Brian Janiak was very through in the whole process and made it easy to do business.
F
fbcwh
5 months ago
During the Loan Process
During the loan process, my associate was always available and pleasant to work with.
G
graham
5 months ago
Very professional
Very professional, timely, and well organized!
M
marc l
5 months ago
Very efficient
It is as very quick and easy process. Byron called me back the next day, as promised with possible l ads and everything else as finalized the following day. Unlike other companies that don’t call back leaving you wondering. He had reviewed my website, knew about my business and had done his research
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martin brooks
5 months ago
The ease of getting funded was great
The ease of getting funded was great. I will be dealing with you on all my future funding needs.
M
moses valdez
6 months ago
Thank you for the great Customer…
Thank you for the great Customer Service and the expedite process.
J
jeff gatchell
6 months ago
Christian was very attentive as well as…
Christian was very attentive as well as responsive to my needs, and kept me well informed throughout the process.
c
customer
6 months ago
Quick & efficient
Quick & efficient
S
steve
6 months ago
they make it so easy to get approved
they make it so easy to get approved, they are truthful and legit
S
steven trans
6 months ago
Bryon Taylor is very professional
Bryon Taylor is very professional Everything is easy 👍👍👍👍👍
K
karen aland
6 months ago
Easy to work with.
Persistent to resolve your needs.
D
dexter holmes
6 months ago
Amazing extremely professional
Amazing extremely professional
C
carolyn mitchell
6 months ago
COMPASSION
Andrew Clark care about what I was trying to do with my company and worked consistently not stopping until he was able to meet the need!
c
customer
6 months ago
So easy to work with!
So easy to work with. Very responsive. Make the process simple and quick.
D
don a
7 months ago
Friendly people
Friendly people. Easy to apply. Received funding for business almost immediately.
c
customer
7 months ago
straight-forward and simple
The entire process was really straight-forward and simple. Martha and Zak are both wonderful employees.
c
customer
7 months ago
Excellent customer service
Excellent customer service
W
w. carter
7 months ago
A+++
Clare was fantastic! She worked hard for us and placed us with a qualified lender in just a couple of days.
c
customer malachi poppell
7 months ago
Marcus and Mitchell where both very…
Marcus and Mitchell where both very helpful quick and professional to get done what I needed in 24hrs and made it happen!!
c
customer
7 months ago
Great Customer Advocacy
Christian was great- he was entirely committed to helping me get what I needed/wanted and advocated for me accordingly. I really appreciated the clear communication and protection of my personal and business information.
c
customer
7 months ago
Was very responsive and helpful
Was very responsive and helpful. Got me a better deal even though it was less money. I came out better on payments and interest which saved me more money on the back end
M
michael
7 months ago
Streamlined process
Streamlined process. Fast and easy.
F
felipe vazquez
8 months ago
The experience was great because the…
The experience was great because the service rep made it effortless he did all the work. The company is fast and results were fast.
B
brenda
8 months ago
excellent customer service
excellent customer service
S
sean
8 months ago
Great Experience
Went out of their way to get me not just a loan but a loan that suits my needs. Shane, my representative was very helpful and kept me informed throughout the entire process.
c
customer
8 months ago
The experience was very smooth and easy…
The experience was very smooth and easy to complete the necessary information without a lot of hassle.
S
scott duffle
8 months ago
The people were extremely nice and informative, they made the Process simple and quick!
My experience was great because the they made the experience great, they had good communications and made the whole process smooth and quick!
M
manes
8 months ago
Very helpful and very kindness
Thank you all staff. follow up and very wonderful work experience with us. I’m appreciate you guys
M
mr. johnson
8 months ago
Bobby got me approved when no one else…
Bobby got me approved when no one else could. I am very happy with him. Thanks
N
navjit bhasin
9 months ago
Exceeded Expectations.
Smooth and transparent process; exceeded my expectations. As a founder/ceo, I was looking for a lending partner who could take the hassle of finding the right lender and right options for my needs. And, LendingTree team exceeded my expectations. Funds in my bank in 3 business days! Onto growing my business now.
M
michael
9 months ago
Thank you
They helped me get a loan in difficult financial times. I am responsible and they looked beyond my credit score. I will not let them because they believed in me
D
david
9 months ago
Quick response
Quick response
J
justin
9 months ago
Kristen was a great assistance.
Kristen was a great assistance.
D
darron
9 months ago
This was the easiest way to get capital!
This was the easiest way to get capital. I've tried so many other vendors and the experience was awful. They don't want to understand my business and they market in a way that I find predatory. However, SnapCap took time to understand my business needs and selected the perfect options for my business. I could not be happier with the result! I was funded within 24 hours. I will forever use SnapCap for my funding needs.
J
john
10 months ago
I have enjoyed every minute working…
I have enjoyed every minute working with SnapCap. They made everything really easy and it were very fast. Thank you so much for your help and I highly recommend using this company. I will be recommending them to my friends.
J
jeffrey
10 months ago
Painless
Painless - fast - professional
M
mary
10 months ago
The process was very easy and only took…
The process was very easy and only took 15 min of time. after using this type of product in the past, I would not go anywhere else in th efuture.
J
johnathan
10 months ago
The Process was really easy and fast
The Process was really easy and fast. They answer every question we had.
J
jpj
10 months ago
This was an easy transaction
This was an easy transaction . Zak my Rep connected with me immediately after I sent my application. 48 hours later I was approved and Loan amount funded in 24 hours !
J
joe
10 months ago
Excellent professional experience
Excellent professional experience. A thorough understanding of the need for a quick decision and frictionless end to end experience. We spoke with two agents, each of whom demonstrated the skillful ability to coordinate funding within a matter of mere hours.
C
charlynne
10 months ago
Easy to work with
Easy to work with
D
david
10 months ago
Great Service.
Great Service.
M
majid syed
10 months ago
Clear and transparent communications…
Clear and transparent communications from the get go
S
saskia
a year ago
Prompt funding and great service!
The representative (Shane) was very professional and helped along the whole process. I had the funds in my bank the next day.
W
wendy
a year ago
Very easy and great to work with
Very easy and great to work with. Great Customer service.
D
damon
a year ago
The overall process
The overall process
A
asha
a year ago
Quick responses polite people helped…
Quick responses polite people helped tremendously
M
michelle
a year ago
Easy and Fast
It was just a very easy, stress free and quick process.
J
jenni
a year ago
Quick and Helpful
They were quick and helpful and the process was easy
J
jeff
a year ago
Great follow thru - delivered as promised
Excellent customer service and delivered as promised.
B
bryant wellington
a year ago
I worked with Jon Falkenburg on my loan…
I worked with Jon Falkenburg on my loan and he was very professional and truthful with me. It took about 3 days after sending them my info to be approved, go through underwriting, and have the money in my account. They were very fast and there where no hidden fees which I like. Everything was straightforward and easy to understand. I would definitely recommend them if you're in a bond and need cash fast. Their payment's are reasonable when you compare them to other companies like them.
J
josh
a year ago
The guys were very helpful and polite …
The guys were very helpful and polite they were very prompt on getting the funds, so far plan on doing business with them again in the future
D
deena
a year ago
Mitchel was right there to go with me…
Mitchel was right there to go through it with me the whole way. It was a great experience; very positive and fun and informative.
K
karen aland
a year ago
Service, value, timeline.
Fast, efficient, kind, service. All questions answered. Easier than I thought possible. Thank you.
M
michael
a year ago
You send me 10 Million emails it’s…
You send me 10 Million emails it’s ridiculous. I don’t give a two F**ks about all your offers. If I need something I contact my broker. You make it impossible to unsubscribe
L
london
a year ago
The whole process was very easy and…
The whole process was very easy and prompt! Patrick O. was very helpful even after the contract was signed with one of their partners. Theres really nothing negative to say about my experience. highly recommended.
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david
a year ago
Awesome service
Awesome service
S
steven
a year ago
Great communication and easy process
Great communication and easy process
K
kyle
a year ago
Easy to facilitate.
Easy to facilitate.
M
myra dawn
a year ago
Loan Terms were misrepresented
The person who sold me the loan significantly misrepresented the terms. I intend to pay the loan off early and asked about the amortization. He told me I would pay 1/12th of 16% on the loan balance each month. That it was "almost" a straight line amortization. When I got the loan and finally saw the amortization, the loan is heavily loaded up front with interest. I feel completely conned.
S
sphc
a year ago
Was less confusing and more easy to…
Was less confusing and more easy to follow through.
D
david
a year ago
Great customer service and ready to…
Great customer service and ready to answer questions anytime
S
steve
a year ago
They were extremly helpfull and easy to…
They were extremly helpfull and easy to work with and trusting.
M
maria
a year ago
Easy approval process and seamless…
Easy approval process and seamless transaction. Their service was exceptional.
S
shannon
a year ago
Good friendly service
Good friendly service
D
david
a year ago
Easy to deal with and prompt…
Easy to deal with and prompt communication. Quick funding and no pressure presentation.
L
lori
a year ago
The guys I worked with were amazing and…
The guys I worked with were amazing and very clear in explaining every detail and that’s super important when your getting any type of loan. Thank you for the amazing experience and for the help with my business expansion.
C
cassey
a year ago
These guys are great!
These guys are great!! I wasn't sure what the process was going to be like, however, it was smooth, painless and quick as far as us obtaining funds in our account! We thank them and look forward to using them in the years to come!
R
ronald
a year ago
Great customer service
Great customer service, very simple process and trustworthy
L
lawrence yarmaloff
a year ago
Professional and efficient service
Professional and efficient service
D
dustin
a year ago
Fast!
The quickest service on the market from what we personally experienced.. Easy fast funding.
D
derrick
a year ago
Fast and efficient
The whole process was fast and efficient.
P
priscilla
a year ago
As a first timer to do business loan
As a first timer to do business loan, we were so impressed of the outcome of our loan. We were approved less than 24 hours. We will recommend Lending Tree and Forward financing to our friends