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Elevation Capital: 2023 Review

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Elevation Capital lender logo
  • Estimated factor rate range: 1.12 to 1.36
  • Best for: Established businesses looking for cash advances.

Pros and cons of Elevation Capital

ProsCons

  Low minimum credit scores

  Merchant cash advances may be eligible for funding within 24 hours

  Factor rates may start lower than other lenders

  Doesn’t offer term loans or lines of credit

  Must be in business for at least six months with annual revenue of $150,000

  May include origination fees

Elevation Capital review

Elevation Capital is an online lender that offers several types of small business financing, such as merchant cash advances, invoice factoring and accounts receivable financing and purchase order financing. The company describes itself as a working capital funder for businesses, with a specialty in offering various cash advance products.

Who is Elevation Capital for?

Elevation Capital may seem like a good option for some business owners, but might not be the best for everyone. This online lender may be better suited for:

  • Businesses that don’t have excellent credit.
  • Small business owners who have been in business for at least six months.
  • Borrowers looking for cash advances. Although Elevation offers several types of financing products, they are all various flavors of cash advances.

Elevation Capital small business financing at a glance

ProductAmountRepayment termEstimated factor rateFees
Merchant cash advance$10,000 to $3,000,00012-month avg. repayment1.12 to 1.240.00% to 1.00% origination fee
Invoice factoring and accounts receivable financing$5,000 to $10,000,000120-day avg. repayment1.12 to 1.24N/A
Purchase order financing$100,000 to $10,000,0006-month avg. repayment1.12 to 1.362.00% origination fee

Merchant cash advance

A merchant cash advance offers a lump sum of cash to businesses that’s usually paid back as a percentage of daily credit card sales. Borrowing costs with MCAs are commonly expressed as a factor rate instead of a standard interest rate. To calculate your total borrowing cost, multiply the amount advanced by the factor rate. Elevation Capital allows you to borrow anywhere from $10,000 to $3,000,000 and if approved for an MCA, you may be able to receive funds within 24 hours.

Invoice factoring and accounts receivable financing

Invoice factoring a financing option when a business leverages their unpaid invoices to unlock cash, anywhere from 70% to 90% of the invoice amount. The business sells invoices to a factoring company for a cash advance and then the customer pays the factoring company directly. To qualify for Elevation Capital’s invoice factoring, your business must be able to meet a factoring minimum of $5,000 monthly. Like merchant cash advances, Elevation charges factor rates with its invoice factoring products, but there are no additional origination fees.

Purchase order financing

Purchase order financing is a cash advance that helps when a business has an influx in orders, but needs additional cash flow to help fulfill them. With Elevation Capital, you can receive purchase order financing from $100,000 and $10,000,000, though it does come with a 2.00% origination fee. Like its other financing products, purchase order financing charges a factor rate.

Elevation Capital borrower requirements

Minimum annual revenue$150,000
Minimum time in business6 months
Minimum credit score
  • MCA: 500
  • Invoice factoring: 550
  • Inventory and purchase order financing: 600

Elevation Capital only requires a business to be running for six months to qualify and accepts those with low credit scores. However, if you’re a newer business that has yet to generate a lot of revenue yet, you may want to look elsewhere to get a business loan.

Required documents

Each lender has specific business loan requirements for a borrower to qualify. To apply for a business financing product with Elevation Capital, you’ll need to complete an online application to get started. Three months of consecutive business bank statements are also required when you apply to show you make the required monthly amount of $12,500.

Alternatives to Elevation Capital

Elevation Capital offers several products to help with funding without requiring excellent credit scores, but it’s not the only one with these options. Here are two other lenders that provide financial solutions that could be better suited for your needs.

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

Elevation CapitalCrediblyUplyft Capital
Minimum credit score
  • Merchant cash advance: 500
  • Invoice factoring and accounts receivable financing: 550
  • Purchase order financing: 600
  • Merchant cash advance: 500
  • Invoice factoring: varies by customer
Merchant cash advance: 450
Funding products offered
  • Merchant cash advance (MCA)
  • Invoice factoring and accounts receivable financing
  • Purchase order financing
  • Working capital loan
  • Merchant cash advance
  • Line of credit
  • Equipment financing
  • SBA loans
  • Invoice factoring
Merchant cash advance
Time to funding
  • MCA: In as little as 24 hours
  • Invoice factoring and purchase order financing: 10 days to three weeks
As soon as the same business day (depending on the product)1 to 2 business days
Starting factor rates
  • MCA: 1.12 to 1.24
  • Invoice factoring: 1.12 to 1.24
  • Purchase order financing: 1.12 to 1.36
  • Working capital loan: Starting from factor rate of 1.15
  • Merchant Cash: Starting from factor rate of 1.09
  • Invoice factoring: Starting from factor rate of 1.09
  • Line of credit: Starting from 4.80%
  • Equipment financing: not specified
  • SBA loans: Starting from 6.99%
Starting at 1.24
Maximum funding amounts$10,000,000Up to $400,000 for working capital, merchant advances and invoice factoring$1,000,000
Minimum annual revenue$150,000
  • SBA loans: $100,000
  • Line of credit: $50,000
  • Other lending products: $180,000
$144,000

Elevation Capital vs. Credibly

Credibly also offers merchant cash advances and invoicing factoring like Elevation Capital, but doesn’t offer purchase order financing. Instead, it offers working capital loans, lines of credit and equipment financing. The starting factor rates for Credibly are slightly lower, but its maximum funding amounts are also much lower than those of other comparable products. Both lenders require a six-month time in business for all borrowers, though if you want to pursue an SBA loan through one of Credibly’s partners, you’ll need to be in operation for at least 24 months.

Elevation Capital vs. Uplyft Capital

Uplyft Capital only offers merchant cash advances, but with factor rate rates starting at 1.24, Elevation Capital may be the cheaper option. And though the time to funding is relatively similar between the two, where Uplyft stands apart is its more lenient eligibility criteria. Borrowers with low credit can qualify for both lenders, but Uplyft Capital accepts borrowers with credit scores as low as 450. Plus, with Uplyft, the minimum time in business is only three months, half the time Elevation Capital requires.

 

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