Overview

Founded in 2012, Advancepoint Capital is a marketplace that connects you with various business lenders to help you find the right one for your needs. The company helps businesses nationwide and offers several types of business lending, including Small Business Administration (SBA) loans, equipment financing, and business lines of credit.

Applying online takes only a few minutes, and you can get funds quickly, often within 24 hours. The company has a solid reputation, boasts an A+ rating with the Better Business Bureau, and has helped businesses fund nearly $400 million.

Its website also has educational resources to help you learn more about business lending.

Pros & Cons

Advancepoint Capital Business Loans At-A-Glance

• A+ rating from the Better Business Bureau
• Support via phone calls and email
• Borrow up to $5 million
• Same-day funding available
• Helpful resources like calculators and a blog

Features

Straightforward application process

Advancepoint Capital offers a clear application process. It takes just a few minutes to complete the online form, as there are minimal steps. Funding itself is also quick once you’ve been approved.

Several types of business lending are available

No matter your needs, Advancepoint Capital connects you to the right lender. Some funding options it offers include:

• Business loans and lines of credit
• SBA business loans
• Equipment financing
• Revenue-based financing
• Invoice financing

Helpful online tools and resources

Advancepoint Capital has several educational resources on its website. The blog helps you learn about different business topics, and the loan calculators help you figure out your monthly payments based on the loan term, rate, and amount you borrow.

Great reputation

The company has been around for over a decade and maintains an A+ rating with the Better Business Bureau. It’s had thousands of customers and helped businesses get millions of dollars in funding.

Application Process

To begin, visit the Advancepoint Capital website and click “Get Quote Now” to start the online application. After choosing how much you need to borrow, specify how long you’ve been in business and state your monthly revenue. Next, you’ll provide your credit score, the state in which your business operates, and your contact information.

Once you’ve applied, you’ll see loan offers and work with an expert from Advancepoint Capital to determine your best option. After choosing a financing option and being approved, you’ll receive your funds quickly, often within a day. In some cases, you may need to provide additional documentation or paperwork if the lender you chose requires more details.

Loan Terms

The loan terms vary widely depending on the type of loan you get and the lender you ultimately end up working with. Unfortunately, the Advancepoint Capital website doesn’t provide the full eligibility criteria for loan approval. It states that factors like credit score, time in business, and financial statements/documents are involved in your approval, but it doesn’t give exact numbers or details about what’s required.

The only way to find out if you’re eligible is to begin the application. If you’re ineligible, the application form cuts you off mid-way and mentions the types of companies that Advancepoint Capital doesn’t fund. This includes businesses fewer than five months old and companies with less than $15,000 per month in sales.

The exact terms also vary depending on the type of funding you’re looking for. For example, you can get a business loan for anywhere from $10,000 to $5 million, but equipment financing only lets you borrow from $25,000 to $350,000.

Repayment Terms

Repayment terms like interest rate and loan length also vary depending on the loan offer you choose. You can see these terms when evaluating offers. Advancepoint Capital doesn’t publicly display rates, but generally, you’ll get a more favorable rate and terms if your business and/or personal credit history is strong.

Additionally, the loan length depends on which type of financing you need. While SBA business loans can have terms from five to 10 years, for example, equipment financing loans have terms of only three to five years.

If you want a better idea of what you can afford or want to compare loan offers directly, use the loan calculators on Advancepoint Capital’s website.

Customer Support

Advancepoint Capital offers customer support over the phone at 800-381-8920 and through email at customercare@advancepointcapital.com.

Unfortunately, there isn’t a live chat. Advancepoint Capital also doesn’t list its customer service hours on its website.

In some cases, you may find answers to your questions by checking out Advancepoint Capital’s blog. It covers topics like expanding and managing your business, using business lending, establishing good business credit, and more.