What is Capital Float?
Capital Float is a financial technology company that provides working capital loans to small and medium-sized businesses (SMBs). The company was founded in 2013 and is headquartered in Bangalore, India. Capital Float has raised over $200 million in funding from investors such as Sequoia Capital, Tiger Global Management, and Ribbit Capital.
How does Capital Float work?
Capital Float uses a data-driven approach to lending. The company collects data from SMBs, such as their financial statements, tax returns, and bank statements. Capital Float then uses this data to assess the creditworthiness of the SMB and determine whether it is eligible for a loan.
Also Download: What is a Loan?
What are the benefits of using Capital Float?
There are several benefits to using Capital Float, including:
- Quick and easy approval process: Capital Float can approve loans in as little as 24 hours.
- Flexible repayment terms: Capital Float offers repayment terms of up to 36 months.
- Competitive interest rates: Capital Float offers competitive interest rates on its loans.
- Easy online application process: You can apply for a Capital Float loan online in just a few minutes.
How to apply for a Capital Float loan?
To apply for a Capital Float loan, you can visit the company’s website and fill out an online application form. The application form will ask for information about your business, such as your financial statements, tax returns, and bank statements. Once you have submitted the application form, Capital Float will review your application and contact you if you are approved for a loan.
Conclusion
Capital Float is a reliable and trustworthy source of working capital loans for SMBs. The company offers quick and easy approval, flexible repayment terms, and competitive interest rates. If you are an SMB that is looking for a working capital loan, Capital Float is a great option.
FAQs about Capital Float
What is Capital Float?
Capital Float is a financial technology company that provides working capital loans to small and medium-sized businesses (SMBs). The company was founded in 2013 and is headquartered in Bangalore, India. Capital Float has raised over $200 million in funding from investors such as Sequoia Capital, Tiger Global Management, and Ribbit Capital.
How does Capital Float work?
Capital Float uses a data-driven approach to lending. The company collects data from SMBs, such as their financial statements, tax returns, and bank statements. Capital Float then uses this data to assess the creditworthiness of the SMB and determine whether it is eligible for a loan.
What are the benefits of using Capital Float?
There are several benefits to using Capital Float, including:
Quick and easy approval process: Capital Float can approve loans in as little as 24 hours.
Flexible repayment terms: Capital Float offers repayment terms of up to 36 months.
Competitive interest rates: Capital Float offers competitive interest rates on its loans.
Easy online application process: You can apply for a Capital Float loan online in just a few minutes.
What are the eligibility criteria for a Capital Float loan?
To be eligible for a Capital Float loan, you must meet the following criteria:
You must be a small or medium-sized business.
You must have been in business for at least 12 months.
You must have a good credit score.
You must be able to provide financial statements and tax returns.
What are the interest rates on Capital Float loans?
The interest rates on Capital Float loans vary depending on the amount of the loan, the repayment term, and the creditworthiness of the borrower. However, interest rates typically range from 18% to 24% per annum.
What are the fees associated with Capital Float loans?
Capital Float charges a processing fee of up to 2% of the loan amount. The company may also charge late payment fees and other fees.
How do I apply for a Capital Float loan?
You can apply for a Capital Float loan online at the company’s website. The application process is simple and takes just a few minutes.
What is the repayment process for a Capital Float loan?
You can repay your Capital Float loan in monthly instalments. The repayment term for a Capital Float loan is typically 12 to 36 months.
What are the pros and cons of using Capital Float?
Here are some of the pros and cons of using Capital Float:
Pros:
The quick and easy approval process
Flexible repayment terms
Competitive interest rates
Easy online application process
Cons:
High-interest rates
Late payment fees
Other fees
Is Capital Float a good option for me?
Capital Float can be a good option for small and medium-sized businesses that need working capital. However, it is important to compare the interest rates and fees offered by Capital Float with other lenders before you decide whether to apply for a loan.