Elevation Capital Small Business Loans Review

About Elevation Capital

Elevation Capital

Elevation Capital is a direct funder who provides alternative financing options for small to medium size businesses. When a business applies for financing with Elevation Capital, the business is carefully reviewed and presented with multiple funding options that best fit the needs of the business. As a direct funder with a large network of partners and an internal underwriting team, Elevation Capital is able to quickly generate approvals and fund the businesses in as little as 24 hours. Free to apply, up to $3M in funding, funding in as little as 24 hours, flexible funding options, and no credit minimums.

review breakdown

Interest Rates
Fees & Closing Cost
Customer Service

What they're saying about Elevation Capital

Read All Customer Reviews

What is Elevation Capital?

Bel Air, Md.-based Elevation Capital LLC specializes in merchant cash advances for small- to mid-sized businesses. Since opening in 2008, it has developed a large network of partners, ensuring funding options for businesses in almost any financial situation, including businesses that have been turned down for traditional bank financing.

Elevation Capital highlights

Elevation Capital can provide merchant cash advances — from $10,000 to $3 million (as provided by a company representative)— in as little as one day, thanks to its efficient application and approval process. That can help businesses, even those with imperfect credit, surmount quickly developing financial hardships. But it doesn’t mean a merchant cash advance is without risk. They can be an expensive alternative to loans when considering the total repayment amount and any additional fees.

Repaying your Elevation Capital merchant cash advance can take any of three paths. The first option is daily or weekly Automated Clearing House payments. These are debited from the business’s bank account using the same mechanics as direct deposits or online bill payments. While there’s little to no maintenance once enacted, they do create an electronic record for every payment, which can come in handy for accounting records. You also can choose a credit card split, when the card processor sends the merchant and MCA provider their respective percentages of sales, or a lockbox. The MCA provider controls the account where all card sales are deposited and from which the merchant’s percentage is paid.

Compare Free Business Loan Offers

What Elevation Capital offers

Elevation Capital offers merchant cash advances. These aren’t loans but the purchase of future credit and debit card sales. Term and payments fluctuate because repayments are taken as a percentage of sales. Fees are often waived, especially in transactions with repeat customers. That can make a merchant cash advance a better deal.

Elevation Capital: At a glance
Funding product Funding amount Term Factor rate Fees Time to funding
Merchant cash advance $5,000 to $500,000 3 to 20 months Not included on  lender website Not included on  lender website 2-3 days in most cases, but delivery can be as soon as 1 day

Product information current as of April 12, 2019

Eligibility requirements

Funding product Annual revenue Min. business credit score or personal credit score Time in business
Merchant cash advance At least $200,000 Business credit score considered At least 3 months

Elevation Capital considers your business credit score, but they don’t set a minimum. It’s part of an overall review of your business’s financial strength. Your business also needs a stable bank account. Excessive days with a negative balance or non-sufficient funds may cause an application to be denied.

Businesses that are not eligible for Elevation Capital funding:

While Elevation Capital will discuss financial needs with any business, some traditionally have a harder time getting funding. Those include brokers, financial services businesses and cannabis dispensaries.

How to apply for Elevation Capital financing

Elevation Capital’s application process is straightforward. You’ll find a simple form on its website that requires your name, email, phone number and a brief description of your financial needs. Once you’ve submitted that information, a staff member will contact you to complete the application. It will be reviewed at its in-house deal desk. If the application is denied there, it may seek outside approval. If approved, the offer is reviewed with the business owner. This provides an opportunity to restructure the deal. When that step is complete, the contract is finalized, funding call set and funds wired.

Documents to apply

  • Completed application
  • Bank statement


Pros Cons
 Works with a variety of businesses.   Cash advances can be expensive compared with traditional loans.
 Quick funding.   Minimum advance is $10,000.
 Most credit scores considered.   Bank account needs an almost perfect track record.

Who is the best fit?

Elevation Capital funds businesses nationwide. While it doesn’t restrict its funding to certain industries, it works frequently with specific indusries. Those include ones in the restaurant, retail, construction, transportation and health care industries.

Fine print

You won’t find much more than basic information on Elevation Capital’s website, and even some of those details are cryptic. It refers to its merchant cash advances, for example, as alternative funding options. To uncover the information that you’ll need to decide if this funding is best for your business, you’ll have to wade into the application process.

And as with any merchant cash advance, don’t judge it only on the percentage of card sales that will be taken periodically as payments. Instead, add the total repayment amount to any fees included in the agreement. That will give you the true cost of the advance that you’re requesting. And to estimate how long it will take you to reach that amount, apply the percentage to your average card sales. But remember that’s only a best guess; slower card sales, for example, will extend the repayment period.

The bottom line: How Elevation Capital stacks up

If you own a relatively new business that’s been turned down for a traditional small business loan and need access to capital, a merchant cash advance from Elevation Capital may be an alternative. The application process is relatively simple, and funding is usually provided quickly, helping meet financial needs in a timely manner. Make sure to exhaust all other loan options before settling on a merchant cash advance. Before you sign, be sure you have enough credit and debit card sales to comfortably cover repayment and other business needs and understand the total repayment amount.

Compare small business loan offers