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Bizcap Review 2019
Score 4.7Loan Period
3-24 monthsLoan Range
$5,000 - $600,000Pros
- Unsecured loans
- Easy loan renewal
- Minimal documentation
Cons
- Not for startups
- Limited products
- No personal loans
Bottom Line
Bizcap offers short-term loans up to $600,000 to small businesses in Australia, even funding businesses with existing loan balances and can approve loans within 3 hours.
Check if you Qualify for a Bizcap loan
See if I qualify
Who are Bizcap?
Bizcap offers short-term loans up to $600,000 to small businesses in Australia. The company claims to approve 95% of all businesses that apply for funding and has the ability to fund second position deals. Bizcap funds businesses with existing loan balances and no payoff required.
Customers can apply for loan renewal once 50% of the initial balance has been repaid, which brings the benefit of a higher loan amount or lower rate if the customer has a good repayment history.
What We Like Best
- Unsecured loans
- Easy renewal process
- High approval rate
Which services does Bizcap offer?
- Type of loan - Unsecured business loan
- Repayment Terms - 3-24 months
What do you need to apply?
- Monthly income of at least $10,000
- Trading for 6+ months
- Current and valid ABN
- Valid Australian driver's license
- 3 months' bank statements for loans up to $100,000
How does the application process work?
Bizcaps loan application process is straightforward, it takes just a few minutes online. Should you prefer, they can also complete the application over the phone. Because Bizcap is a direct lender, the application to fund process can be as little as 3 hours.
Is Bizcap trustworthy?
Bizcap provides full protection of all customer information and data. The company is a member of FinTech Australia.
Customer support
Bizcap offers multiple ways to reach their customer support team, via phone, email or a form available through their website. They also have a live chatbot option, which is managed by a lending specialist; this service is available during regular Australian working hours. Customer support is extremely responsive, and their Loan Specialists work extended hours.
Final verdict
Bizcap offers short-term loans up to $600,000 to small businesses in Australia, even funding businesses with existing loan balances.
Please note that all information provided in this review is accurate at the time of publication and is subject to change. The information contained in this review is provided for informational purposes only, should not be construed as legal advice on any subject matter and should not be relied upon as such. The reviewer accepts no responsibility for any consequences whatsoever arising from the use of such information.
