CAN Capital has over 20 years' experience and has provided access to over $7 Billion in working capital to over 76,000 small businesses nationwide. We are industry pioneers leveraging decades of data and intelligence to deliver innovative funding products that meet our customers need for speed and convenience. We are one of the only alternative finance companies that has helped customers through numerous economic cycles, from the bursting of the Internet bubble in 2000 to the Great Recession, and from the long bull market to the current volatility. The business loans we offer range from $2,500 to $250,000 and are delivered by a best-in-class team. Over the course of two decades we have helped businesses manage cash flow, purchase inventory, upgrade technology, renovate, expand and most importantly, grow. We were founded and exist to help small businesses succeed. CAN Capital, Inc. makes capital available to businesses through business loans made by WebBank, member FDIC.
I received lots of offers and calls but CAN was the best for me. Their agent was polite and easy to work with.
Chris at CAN Capital was a huge help securing my loan. He was patient and informative throughout the process.
New York City-based CAN Capital Inc. offers small business loans and merchant cash advances to small businesses in a variety of industries. With its simple approval process, flexible funding options and access to more than $6.5 billion in working capital, it has made more than 185,000 funding transactions since it opened in 1998. Businesses use that money in many ways, including inventory, payroll, marketing, taxes, equipment, renovation or expansion and technology.
CAN Capital can arrange term loans and merchant cash advances from $2,500 to $250,000. And it does it quickly — in as few as two days. Its proprietary risk models evaluate applicants on business performance and cash flow. Although the company looks at credit scores, it’s not the determining factor for approval. And although that might open the funding door for businesses turned down by traditional banks, using these funds can be a more expensive route. That’s especially true for a merchant cash advance, which isn’t a loan but the sale of future credit and debit card sales. Be sure to look at the total repayment amount and any additional fees before signing for one so you know the true cost of the money.
CAN Capital offers two funding options:
CAN Capital will provide a term estimate at the time of underwriting for merchant cash advances. Because the amount of daily card sales varies, it cannot provide an exact term.
|Loan Product||Annual Revenue||Min. Business Credit Score or Personal Credit Score||Time in Business|
|Term Loans||More than $150,000 gross revenue||N/A||At least 6 months|
|Merchant Cash Advance||More than $150,000 gross revenue||N/A||At least 6 months|
CAN Capital needs to confirm two more eligibility requirements before offering any funding. A business must have less than $175,000 in outstanding tax liens and judgments, and its owner cannot have a personal or business bankruptcy that has not been discharged for at least one year.
On its website, CAN Capital does not specify businesses or industries that are not eligible for its term loans or merchant cash advances.
CAN Capital doesn’t offer an online application. Businesses interested in funding need to call 877-523-1888 or email [email protected] to start the process. You’ll need to include some information — business phone number, legal business name, type of business, annual revenue, time in business and when funds are needed. Once the company processes your application, a broker will explain how much money your business qualifies to borrow.
|Approval not solely based on credit score||Company charges fees|
|Fast funding||Guarantee required from owner for term loans|
|Variety of uses for the money||No online application|
CAN Capital secures funding for an array of U.S.-based businesses, including dental offices, climbing gyms, restaurants, nail salons and automotive repair shops.
Prepayment discounts are available for term loans. Take time to completely understand the terms associated with merchant cash advances, which are handled differently from and usually cost more than traditional bank loans. Advances are the sale of future receivables, which you repay with a set percentage of sales — usually from debit and credit cards — that you collect daily or weekly. Payment amounts fluctuate with sales, so it’s impossible to calculate an exact term.
To calculate the total cost of a merchant cash advance, add any fees to the total repayment amount. Borrowers won’t be asked to sign a personal guarantee, but they might have to sign a performance guarantee, which is a promise to operate the business in a way that ensures repayment. But even then, there’s no legal requirement to repay the advance.
CAN Capital might be a funding solution for small businesses that have been turned down by traditional banks. Although approval might come more easily here — thanks to factoring in business performance, cash flow and credit score — the money could be more expensive. CAN Capital’s terms are shorter than many other lenders, but its deals include fees.