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Spotcap Reviews [Read Our Expert Opinion]

Jane Wardle

Written by Jane Wardle on

Updated

Spotcap review

Overall Rated: 4.4 / 5

Summary

Spotcap is one of the most innovative business finance providers for small and medium-sized firms within the UK that have a turnover of £250,000 and above. The lender began operating in 2014 and works across Europe and Australia with headquarters in Berlin.

Through the full range of funding options that Spotcap offer, the lender can assist diverse industries from retail, manufacturing, franchising, international trade, hospitality and hotels and dental practices, among others.

To access funds for your business, you simply need to provide personal information about your business and yourself, required documents and bank account details online and the application process is complete. The decision on whether the application is accepted takes one working day and the funds available almost immediately.  Through Spotcap line of credit, a business accesses funding flexibly to finance various needs. After approval, a line of credit is opened, and you can draw down and take the amount you require any time you need the funds for three months.

At this time you have the flexibility of drawing down the funds and repaying up to the approved limit. For every amount drawn down, it has to be repaid in easy monthly instalments between one and 15 months. After the line of credit has expired (three months), you will only continue repaying the amount borrowed in easy monthly instalments and interest is only on the borrowed funds only.

 

 

Trust & Reputation

Rated 4.4/5

Spotcap operates in mainland Europe and Australia and has been able to maintain its professionalism and expertise in the business lending field in the UK. It was launched in 2014 and has grown significantly spreading to other countries around the world. The lender is regulated and authorised by the Financial Conduct Authority and offers funds for business needs only.

Spotcap is also affiliated with the NACFB (National Association of Commercial Finance Brokers), AltFi and a finalist in the Fintech Business Awards 2017 in Australia.

Expertise & knowledge

Rated 4.4/5

One of the determinants of knowledge and expertise in any business is the ability to grow and continue offering solutions with a global impact. Spotcap has been able to spread its business lending solutions across mainland Europe to the UK, Spain, Netherlands, New Zealand and Australia. With each country offering different experiences and vast differences, Spotcap uses diverse credit expert teams to help them provide quick business solutions and decisions to clientele. Through leveraging technology and human capital, Spotcap allows small and medium-sized business to meet the needs of unforeseen expenses and avoid costly payment gaps through a unique open line of credit to draw down for three months.

Customer Service

Rated 4.4/5

Customer experience is critical, and Spotcap has been able to meet the needs SMEs that depend on the lender’s products. Seemingly, a quality customer experience and company begins with the treatment of its staff and clarity of internal processes of which Spotcap has a 4.9-star rating out of five on Glassdoors. Spotcap is also rated with ‘Excellent’ in Trustpilot from the reviews and a 9.6 TrustScore out of 10.

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Rating: 4.4 / 4.4 with 1 votes

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