Seek Business Capital specializes in providing funding to start-ups and early stage business owners. Funding ranges from$5,000 - $150,000. Credit Score of Business Owner must be 680+.
Ruta was awesome to work with, very polite and attentive to our cash flow needs. Excellent experience. They did exactly what they said they were going to do and we can honestly say they exceeded our expectations. Thank you!
Everything went as promised with Seek Capital. They were able to get me more money than I was initially looking for and they made sure the process was easy. It was simple and structured very well. Chase is amazingly knowledgeable, articulate, consistent in advising.
Great team to have on your side! Seek Business Capital got us funding in 48 hours! We were approved within a couple hours of the first call and it was smooth sailing from there. Extremely easy.
Seek Capital is truly wonderful to work with. They have made the experience so much more pleasant compared to those bigger banks. I respect and value the service of this company even more because of their attentiveness and professionalism. Thank you!
We thoroughly enjoyed our experience with Aaron. He made building business credit not seem so scary or complicated. He was patient and made sure we understood exactly what we need to do during the loan set up. He was incredibly thorough explaining the process step by step. I highly recommend using him!
Headquartered in Los Angeles, Calif., Seek Business Capital helps startups and early-stage businesses access funding from $5,000 to $500,000 in the form of lines of credit via credit cards, merchant cash advances and small business loans.
It is not a direct lender but instead works with banks and other lenders to provide funding for small businesses whose owners have credit scores of 680 and higher. The company has financial backing from Thayer Street Partners, Coffin Capital & Ventures, and other investors
While the company advertises that no financials and no tax returns are required, a customer service representative said that most lenders require at least two years of financial statements for business loans. That means the only funding options Seek Business Capital may be able to offer startup businesses are likely credit cards and cash advances.
Seek Business Capital helps start-up and early-stage businesses obtain funding from lenders, including business loans, unsecured lines of credit via credit cards and business cash advances. Details on interest rates, fees, terms, and available loan products aren’t on the company’s website and are provided later in the application process. As with any type of financing, check the details and fine print.
It’s important to note that Merchant Cash Advances, or MCAs, are not loans. Instead, MCAs are the future purchase of credit card receivables. Repayment is automatically debited from your business bank account daily until the amount borrowed plus an added fee. This type of funding is significantly more expensive than business loans, so small business owners may want to consider all other options before a cash advance.
|Seek Business Capital: At a glance|
|Funding product||Funding amount||Term||APR range/ factor rate||Fees||Time to funding|
|Small business loan||$5,000 to $500,000||Not provided by Seek Capital||Not provided by Seek Capital||Not provided by Seek Capital||24 hours|
|Business cash advance||$5,000 to $2,000,000||2 months to 5 years||Not provided by Seek Capital||Not provided by Seek Capital||24 – 48 hours|
|Credit card||$10,000 to $150,000||N/A||Permanent rate undisclosed by lender||Not provided by Seek Capital||24 hours|
Rates current as of 6/30/2018
|Funding product||Revenue||Min. business credit score or personal credit score||Time in business|
|Small business loan||Not provided by Seek Capital||Not provided by Seek Capital||Not provided by Seek Capital|
|Merchant cash advance||$15,000 in monthly revenue||Not provided by Seek Capital||3 months|
|Credit card||Not provided by Seek Capital||Not provided by Seek Capital||Not provided by Seek Capital|
No collateral is required for the small business loans. Businesses must be located in the United States to qualify for a business cash advance.
Business services. Seek Business Capital can help startups handle items critical to launching, such as obtaining a federal tax identification number, developing a business plan and creating a website.
Viability assessment. The company evaluates the current and future likelihood of a startup business obtaining funding and offers recommendations for achieving funding goals.
Business insurance. Seek Business Capital offers insurance products through its partner Sure, an insurance technology platform. It provides coverage for covering general liability, damage to business property, lost revenue due to closure and more.
The company’s application can be filed online or by phone. The preliminary online form takes under two minutes, followed by the full underwriting process, which can be completed within hours. For the preliminary online form, you need to provide:
If you’re a match based on the online form you submitted, you’ll receive a message stating you’re pre-approved and you’ll be called by a funding expert. The funding expert will review your funding options. You will also be asked to complete a funding qualification application.
You will need to provide:
The application also asks for your average credit card monthly sales and if you have ever had a cash advance before.
Seek Business Capital does not give details on the website about any potential loan products that might be available to you. Interest rates, fees, and terms matter, so sign on the dotted line only after you have a clear understanding of all aspects of the loan.
If you request a funding quote, you agree to be contacted by the company by email and to receive autodialed and pre-recorded calls or texts, even if you are on a Do Not Call list.
Seek Business Capital is not a direct lender but works with other banks and lenders to pair small businesses with loan products. The company’s focus is startups with credit scores starting at 680. The process could move fast, but the borrower should move slow enough to understand all the details, especially if they are receiving a merchant cash advance. Borrowers should always compare Seek Business Capital’s option with that other lender offers to make sure to get the best deal.