Uplyft Capital Review
If you are looking for a business loan, Uplyft Capital is a viable option. As a merchant cash advance provider, Uplyft Capital offers four distinctive advances to business owners. The company considers personal credit and business financials to provide a specific merchant cash advance tier. It offers complete transparency and no hidden costs.
Uplyft Capital Funding – is best for small and medium business owners who are in need of business capital and are looking for low rate fast financing options.
Table of Content
- What is a Merchant Cash Advance Program?
- Why is Uplyft Capital Good for Your Business?
- Different Uplyft Capital Funding Programs
- Applying for Uplyft Capital’s MCA Programs
- Uplyft Capital Business Cash Advance Requirements
- Other Useful Offers for Your Business
Uplyft Capital Business Funding Details
|Company||Uplyft Capital LLC|
|Alternate Business Names||Merchant Cash Cloud|
|Type of Entity||Limited Liability Company (LLC)|
|Incorporated||August 1, 2012|
|Years in Business||10 years|
|Merchant Cash Advance Amount||$5,000 – $500,000|
|Terms||2 to 12 months|
|Starting Rate||1.24 (factor rate)|
|Available Funding Purposes||Expansion, Consolidation, Payroll, Adding Inventory,|
Improving Cash Flow, Starting New Venture,
Funding Existing Project, Payout Outstanding Debt
|Uplyft Loans||– Business Line of Credit|
– Merchant Cash Advance
– Equipment Financing
– Term Loan
|Easy to Qualify||Yes|
|Bad Credit Accepted||Yes|
|Min. Credit Score||450|
|Address||17070 Collins Ave Ste 250|
Sunny Isles Beach, FL 33160-3635
|BBB Accreditation||Not BBB accredited|
|4.7 from 5.0 (260 reviews)|
|Trustpilot||4.6 from 5.0 (79 reviews)|
|Social Networks||Uplyft Capital Linkedin, Twitter,|
Facebook, Instagram, Reddit
|Phone Number||+1 (800) 515-7531|
|Fax||+1 (888) 345-6925|
|Site Security||Bank Level|
|Application||Claim this offer|
What is a Merchant Cash Advance Program?
The two most common business financing forms companies use are loans and cash advances. Traditional loans come with interest rates that accrue over time. However, merchant cash advances1 do not. Instead, they have a fixed factor rate that remains the same until you complete your obligations.
In other words, a merchant cash advance is a business cash advance. This financing type provides you with access to a big payment, and you have to pay a percentage of your business’s future revenue.
A merchant cash advance program refers to a specific version of this type of financing. Every program, such as those in Uplyft Capital’s offer, comes with a unique value of cash advance, fixed factor rate, and requirements.
Why is Uplyft Capital Micro Loan Good for Your Business?
10 years experience. Uplyft Capital is not a brand new company in the small business funder industry. It already has ten years of experience, and so far, it has helped hundreds of companies achieve their goals.
No hidden fees. Uplyft Capital also has a complete transparency policy. Business owners can rest assured that there are no hidden costs and that company remains true to the promised fixed factor rates and short terms.
Accepts all credit. The company is also famous for having quite lenient application approval criteria. Unlike banks that offer traditional business loans, Uplyft Capital will approve your application even if you have a low credit score and your business is struggling in the financial performance department.
Flexible repayment options. The company enables businesses to pay back their advances in several ways. The most convenient one is to pay a percentage on credit card receivables. Business owners can also pay back via daily or weekly ACH debits2.
Discounts and extra advance. The cash advance provider also mentioned that clients could access early prepayment discounts. However, the official site doesn’t disclose any details on discounts and prerequisites. If you find yourself in a tough spot and need additional advance, you are eligible to renew your program once you pay 50% of the initial funding.
4 cash advance programs. Finally, every business is unique. Some business owners might need a small financial injection and a short-term dependency. Others can keep their doors open if they get instant access to considerate funds but can’t afford a small business loan. That’s why Uplyft Capital offers four distinctive merchant cash advance programs. Let’s see what these programs have to offer.
Uplyft Capital Merchant Cash Advance Programs
Uplyft Capital offers different business funding solutions ranging from $5,000 to $300,000 and more. You can find four merchant cash advance programs in its offer.
|Amount||$8,000 – $30,000||$5,000 – $125,000||$10,000 – $250,000||$30,000 – $500,000|
|Terms||2 – 5 months||2 – 7 months||3 – 8 months||3 – 12 months|
|Void Check Needed||Yes||Yes||Yes||Yes|
|Proof of Ownership||Yes||Yes||Yes||Yes|
|Deposit Within 1-2 Days||Yes||Yes||Yes||Yes|
|Online Application||Get Funds||Get Funds||Get Funds||Get Funds|
Applying for Uplyft Capital Start Up Loan
Uplyft Capital did an excellent job of making the application process fast and convenient. It even has dedicated agents waiting to help business owners who experience difficulties or have additional questions regarding the application process. The entire application is online, and it’s pretty fast. Additionally, the company leverages artificial intelligence to automate the approval process and score businesses. The AI takes into account:
- Company background;
- Company location;
- Payment history;
- Seasonality of business;
- Online presence;
- Owner’s credit score;
- Entity type and industry;
- Time in business;
- Ending bank balances.
Uplyft Capital Requirements for Business Cash Advance
While Uplyft Capital doesn’t have any limitations regarding the industry and business types, there are specific requirements you have to meet. Here is what you need to qualify for a merchant cash advance:
- Own at least 50% of the business;
- Be in business for at least six months;
- Have a credit score of 450 or above;
- Generate $12,000 on average on a monthly basis ($144,000 annual revenue).
What Information Do You Need to Provide When Applying?
Uplyft Capital’s online application will guide you through the entire process. However, you will have to provide the following information to complete the application process:
- Business and industry name;
- Business address and phone number;
- Your cell phone number;
- Business email address;
- Business ownership percentage;
- The ID number for federal tax;
- The date you established your business;
- The cash advance amount;
- Annual revenue;
- Information on other loans and cash advances you took, if any.
Uplyft Capital Customer Service and Support
While Uplyft Capital headquarters are in Sunny Isle Beach, Florida, the company keeps several communications open for its clients. You can reach the company directly via a contact form on the official website, email, fax, or phone. The company also offers access to funding specialists to help you find the best cash advance program for your business.
Uplyft Capital is one of the leading merchant cash providers. It offers quick application, fast approval rates, and lenient approval requirements. It’s a perfect financing option for businesses with limited financial performance and owners with below fair credit scores that need cash to achieve their business goals. Short terms, four unique cash advance programs, low fixed factor rates, and several repayment options make Uplyft Capital a flexible and attractive business cash advance provider for small and medium-sized companies.
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