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Seek Capital Business Loans Review
In a nutshell: Seek Capital offers loans to small businesses with no collateral requirements, a vast lender network, and favorable SBA loan terms. Known as the Best Startup Business Loans of 2023, their innovative technology makes them an attractive choice for a range of business requirements.
Seek Capital Business Loans Review
In a nutshell: Seek Capital offers loans to small businesses with no collateral requirements, a vast lender network, and favorable SBA loan terms. Known as the Best Startup Business Loans of 2023, their innovative technology makes them an attractive choice for a range of business requirements.
Seek Capital Business Loans Review

Overview

Seek Capital Business Loans are dedicated to helping small businesses take off and thrive. Not your typical lender or loan broker, Seek Capital acts as a friendly financial matchmaker. They connect businesses with top-tier lenders through an advertising referral service. They're equipped to offer a diverse range of services, including referrals to lenders, credit repair companies, banks, and trusted partners.

Since launching in 2014, Seek Capital has now been awarded the Best Startup Business Loans of 2023. They currently boast over $400 Million in approved funding. Whether you're an up-and-coming entrepreneur or a pre-revenue startup, Seek Capital has the perfect solution to accelerate your business growth.

Their cutting-edge proprietary technology gives you access to the best rates and loan terms. These can go as long as 25 years, giving you two and a half decades of financial security and flexibility. And a great bonus is that you can get pre-approved in just minutes - now that's fast funding!

Application Process

Applying for a business loan with Seek Capital is quick and easy. To start off the application process, you'll need to provide your full name, email address, and zip code. You'll also need to answer some questions about the type of business it is and its monthly revenue. In order to apply for funding, gather your social security number, personal credit history, and business plan.

A speedy process in three easy steps:

1.Get pre-qualified. Discover your eligibility without the hassle of extensive paperwork.

2. Get approved.

3. Get funded. After approval, you're on the fast track to getting your funds.

Begin by choosing the funding you need. Then, head over to the website, and within minutes, you'll have a result in your hands. Once your funding application gets the green light, you'll be paired up with a dedicated agent. This expert will be your guide, helping you secure your funds as swiftly as possible. Seek Capital offers free real-time quotes and aims for same-day approvals. To qualify for funding, you must be an early-stage or startup business needing funding and services.

Once your application has been accepted, approval typically occurs within 24 hours. With all required information provided and our analysis completed, funding should arrive between one to three weeks (sometimes even sooner!). In some instances, we work our magic and make funding available within 24 hours!

Loan Terms

Since Seek Capital is a referral service and not a direct lender, loan terms can vary depending on the lender you're connected with. Here's a general idea of what you can expect:

Loan amount flexibility

Seek Capital offers funding options ranging from $5,000 to a generous $500,000.

Fixed APR range

While specific APRs may vary depending on the lender, as a general guideline, you'll typically receive a fixed Annual Percentage Rate (APR) that falls within the range of 9% to 40%.

Influencing factors

Several factors can influence the loan terms you receive. These include the total loan amount you require, the location of your business (determined by your zip code), and your personal credit score.

Loan products offered

Seek Capital provides a diverse range of loan products to cater to your specific needs. These include term loans, lines of credit, equipment financing, merchant cash advances, invoice factoring, and SBA loans.

Minimum credit score

A minimum credit score of 700 is recommended, ensuring you meet the criteria for the best loan terms and rates.

No minimum annual revenue

Here's the good news – there's no set minimum annual revenue required. Seek Capital are there to assist businesses at various stages of development, whether you're just starting or well-established.

Repayment Terms

When it comes to repayment terms, Seek Capital Business Loans is your ideal partner for flexible and hassle-free options. Offering extended repayment terms, Seek Capital specializes in offering SBA loan products that can stretch as long as 25 years.

Customer Support

When it comes to support, Seek Capital Business Loans has got your back. Whether you have questions or need guidance, the official website is your go-to destination for help at your fingertips. Sometimes, you need a real person to assist you. Seek Capital's customer service team is just a click or call away.

You can easily get in touch through an online contact form or by picking up the phone. Their team of experts is available from Monday to Saturday, ready to assist you from 6 a.m. to 6 p.m. PST. You can also connect with Seek Capital across all social platforms, including Facebook, Twitter, Instagram, LinkedIn, and YouTube.

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PROS
  • No collateral needed
  • Extensive lender network
  • Favorable SBA loan terms
CONS
  • Significant capital contribution
  • Not a direct lender
  • High fees
Seek Capital at a Glance
7.2 Editorial Score
Loan terms
7.0
Known more for facilitating business funding rather than direct lending
Application process
8.0
Application process is straightforward and can be completed online
Eligibility requirements
7.0
Criteria meet basic industry standards
Additional benefits
7.0
Limited access to financial advisors, not very comprehensive resources, few benefits for repeat borrowers
Customer service and support
7.0
Support available during business hours with some limited access on weekends, few contact methods, and slow responses
FAQs About Business Loans
Financing your business has become easier than ever with many lenders and business loan providers available. From SBA loans to lines of credit, companies can apply for many types of loans in the market. Get started with the most commonly asked questions about business loan services.
Should I get a business loan?
Business loans have a few advantages. By obtaining a loan, the lender does not have equity in the business. Instead, you simply need to repay the principal plus interest. After repayment, you do not need to share profits with the lender. This also reduces administrative duties by eliminating the need for shareholder meetings and votes. In addition, loans do not require the same regulations on investments.
What kind of information do I need to provide to apply for a loan?
Lending requirements depend on the business loan service. Often, lenders expect good credit, collateral, and steady monthly revenue for approval. A commercial lender may also request a business plan to prove that a business can repay the loan.
What is APR?
The APR (annual percentage rate) refers to the annualized interest rate charged for your personal loan. Typical APRs range from about 5% up to 30%. The APR of the loan depends on the applicant's financial history, assets, income, credit history, and other factors.
How much time do I have to repay the loan?
Repayment agreements depend on the terms negotiated between your business and the lender. Repayment periods can be as low as 6 months or less or for up to 5 years or more. When negotiating your loan, make sure to agree upon repayment terms that suit your current budget.
What kind of business loans are available?
There are many options for financing your business. Below are a few of the most common types of business loans:

Business Lines of Credit: A line of credit that businesses can access when needed
Equipment Financing: Loans to finance equipment in which equipment serves as collateral
SBA Loan: Low-cost, flexible loans secured by the Small Business Administration
Short-Term Loan: Small loans with short repayment terms between 3 to 18 months.

*American Express Business Line of Credit Disclosure: All businesses are unique and are subject to approval and review. The required FICO score may be higher based on your relationship with American Express, credit history, and other factors.
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