Swift Capital offers financing options to small businesses that make at least $100,000 per year and have a credit score of at least 550. It provides loan amounts from $5,000 to $500,000. In this article, we cover Swift Capital reviews and fees. Ready to get started? Visit its website.
Swift Capital Pricing
Swift Capital offers loan amounts ranging from $5,000 to $500,000 and with durations of 13 to 52 weeks. The terms and conditions of the loan are customized to fit the client’s monthly revenue and future receivables. The average interest rate is 17%, depending on the loan amount and the business’ creditworthiness.
|Borrowing amount||$5,000 to $500,000|
|Price||Average of 17%, depending on loan amount and creditworthiness|
|Payment Length||13 to 52 weeks|
To qualify, the applicant must have been in business for over a year and generating an income of at least $100,000 annually. Payments are made weekly and are deducted automatically from the business’ checking account.
Ready to get started with Swift Capital? Visit its website.
Top Swift Capital Alternatives
Same-day funding on a short-term loan up to $250,000
Low credit borrowers needing short-term funding up to $500,000
Flexible short-term loan up to $500,000 with terms from 13 to 52 weeks
Revolving credit up to $100,000 with easy to meet qualifications
Comparing short-term funding options on a free marketplace
Quiz: Is Kabbage or OnDeck Right for Your Business?
Summary of Positive Swift Capital Reviews
Users who gave Swift Capital positive review said that its approval process is very fast and that the experience is seamless. They also mentioned that its customer support is reliable and professional.
One user who gave Swift Capital a positive review on TrustPilot commented that the entire approval process was quick and smooth, adding that it took only 24 hours for the loan to be deposited into his business account. He also mentioned that the interest rates are reasonable, and that customer service is helpful throughout the process.
Summary of Negative Swift Capital Reviews
Users who gave Swift Capital negative feedback complained that it has a tendency to unexpectedly change up the offer and that sometimes, customers are being overcharged. They added that the repayment period of 12 months is too short and that it incorrectly records the payment of loans.
One user who gave Swift Capital a negative review on TrustPilot commented that while he completely paid off his loan via wire transfer, the company refused to release the lien over his property. He added that he tried to escalate the matter to a supervisor, but found it impossible to connect to one.
Top Lender Pick from Fit Small Business
6 Best Easy Small Business Loans 2019: Easy business loans help business owners save time so that they can focus on their business. In this guide, we evaluated the best easy small business loans based on their application requirements, minimum qualifications, and speed of funding to ensure that you can focus on your business rather than spending time applying for financing. Read on to see which company best fits your business needs.
Swift Capital Features
- No origination fee
- Single fixed-fee pricing
- Predictable payments
- And more
Swift Capital FAQs
What are the requirements for obtaining a loan?
Applying for a loan with Swift Capital is simple. All you have to do is fill out the online application which asks for basic information about your business. You also have to provide the following documentation: monthly sales figures, Social Security number of business owners, and business tax ID. When you finish the application, a representative will get in touch with you to confirm some information or request any additional documentation needed such as bank statements.
How can I get in touch with customer support?
Customer service is available by phone 8:00 a.m. to 8:00 p.m. ET, Monday through Friday. They are also available via email. In addition, the company may also be reached through its social media accounts on Facebook, Twitter, and LinkedIn accounts.