Spotcap is a fintech business loan provider with European headquarters in Berlin, London, Spain, and Amsterdam. Established in 2014, and officially launching in the UK in 2016, 10,000 loans have been taken out so far, totalling £85 million in capital. Spotcap specialises in online short and long term business loans for SMEs ranging from £50,000 to £350,000.
Spotcap Business Finance
Businesses have access to a credit limit and can draw down what they need. SMEs can borrow £50,000 to £350,000 and repay it monthly over up to 24 months. Rates start at 1% per month depending on your business. The application is all online and Spotcap will give your business a decision in 1 day. There are no early repayment fees.
To be eligible your business needs to be operating for more than 3 years and have a minimum turnover of £500,000.
Spotcap Reviews and Ratings
97% of Spotcap’s Trustpilot reviews are 5/5. Customers are really happy with professional and efficient service and experienced staff. There are currently no negative reviews. There are also no reviews on Google, Reviews.co.uk or Smart Money People.
Spotcap teamed up with business finance company WhiteOak UK in 2019 to establish a referral scheme. Both lenders will refer businesses to each other if they can’t provide the specific type of finance they need and the other can.
Spotcap is a ‘lending-as-a-service’ fintech product and is used by various companies to lend to business customers.
Trustpilot – 4.9/5 (based on 133 reviews)
Google Reviews – no reviews
Reviews.co.uk – no reviews
Smart Money People – no reviews
- Excellent reviews. There are lots of happy customers.
- Your business doesn’t have to use all its available credit facility.
- Just one loan product available. Not much product flexibility or variation.
- Only works for businesses interested in raising £50,000+.
Website: Spotcap Business Finance