- 28 Jun, 2017

Spotcap: Leading Global Business Lender For Small To Medium-sized Businesses

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About Spotcap

Combining the efficiency of the latest in FinTech with a commitment to supporting the entrepreneurial vision, Spotcap has quickly become a leading global business lender for small to medium-sized businesses. With operations in Europe, New Zealand, and Australia, they have already helped thousands of SMEs around the world take advantage of opportunities and achieve business goals with forward-thinking, no-hassle business loans.

Spotcap was founded in Berlin in 2014 by experienced FinTech entrepreneur, Jens Woloszczak. The Sydney office was opened a year later, along with offices in Madrid, Amsterdam, London, and finally Auckland in 2017. To date, this innovative team of credit specialists and FinTech experts have secured over 92 million in funding dollars and have developed a streamlined process for empowering businesses with tailored lending products. Spotcap Australia has lent to businesses in all states and territories, and are already equipped to offer self-employed borrowers and business owners loans up to $250,000.

Why Choose Spotcap?

Spotcap stands out from other business lenders because of the company’s highly innovative lending products and tech-informed decision-making process. With a deep understanding of the unique needs of Australia’s small and medium-sized businesses, Spotcap offers flexible loans that give entrepreneurs and growing SMEs the financial control they need to get their business moving.

With a business line of credit for Spotcap, you can borrow between $10K and $250K but only pay for the amount you actually use. This loan can be drawn down in lump sums. Once you draw down the loan, the amount you use turns into a business loan, payable within 6 months to 12 months.

This non-committal approach makes applying for the business loan you need less of a risk. Business owners don’t have to worry about getting into too much debt – you only borrow what you use, when you access it – yet you’ll still have the financing you need to jump on prime opportunities or to launch an important marketing campaign at the right time.

Unlike applying for a business loan with a bank, with Spotcap you’ll get a decision within 24 hours. Spotcap’s specialist assessment team utilises unique technology to help them process your application quickly. You also won’t have to offer anything as a security. Spotcap will look at your business’s financial condition with their advanced technology to get a fast, clear picture of your business’s borrowing capacity.

Spotcap makes it easier than ever to get the business loan you need in a way that will work for your situation. They offer the following types of business funding:

  • Unsecured business loans
  • Peer to peer lending
  • Merchant cash advance
  • Bridging loans
  • Equipment finance
  • Working capital finance
  • Invoice Finance

How It Works

The Spotcap process is simple and straightforward. And, it will only take a few minutes. You can apply and then get back to running your business.

  • Register online by creating a free online Spotcap account.
  • Complete your application. This won’t take long. The company securely links to your accounting software and bank account so you don’t need to spend hours filling in forms and gathering data.
  • Get approved. Within 24 hours you’ll receive a decision on your loan. Once you are approved, you can access your line of credit immediately.

Once you draw down a sum, it turns into a business loan. Spotcap offers business loan terms up to 12 months. You can use your line of credit when and how you need to. For example, access a lump sum to purchase equipment, buy new inventory, or run a marketing campaign and then plan to pay it back over a six month period. Need to hire new talent or open a new location? You may want to use a larger sum in this case and pay down this segment of your line of credit as a 12-month business loan. It’s up to you.

You have the freedom and flexibility to get the funds you require, perfectly suited to the needs of your business.

How to Qualify for an Unsecured Business Loan

Spotcap also has an out-of-the-box lending policy. Instead of focussing on traditional criteria, they will look at how your business has performed recently in order to assess your borrowing capacity. As minimum requirements, Spotcap expects that you:

  • Are registered as a business in Australia
  • Have been trading for at least 18 months
  • Have an annual turnover of at least $200k
  • Have an online bank account in Australia

You’ll need to submit your personal and business information, as well as finances over the last two years, including profit and loss statements, bank transactions, and a balance sheet for the most recent financial year. This information can easily be accessed digitally when you apply by linking your Spotcap account with your business accounting software and financial accounts.


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