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Spotcap

As an entrepreneur, you can go to Spotcap, an international lender, for a flexible credit between $ 10,000 and $ 350,000. You can easily apply for a credit online, which is made available to you for 1 to 3 months after approval, depending on your creditworthiness. During this period you can make one or more withdrawals from your credit as many and as often as you want, and you are not required to withdraw the entire amount. 3 months after the first withdrawal, you can ask for a reassessment of your credit: Spotcap can then offer you a longer term, a higher limit and / or more favorable conditions.

Spotcap

Costs of a loan from Spotcap

Credit limit Interest Duration
$ 10,000 0.50% - 1.60% per month 9 months
$ 350,000 0.50% - 1.60% per month 9 months

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Benefits

  • The application process is fast and clear: the assessment is completed within 1 working day.

  • After approval of your application, you have immediate access to your credit.

  • Upon withdrawal, the amount will be transferred to your account within one working day.

  • You can take out the credit flexibly and without obligation for a fixed period.

  • You have the opportunity to get better conditions three months after the first admission.

  • No collateral or security deposit is required.

Cons

  • You can only repay without penalty from one month after admission.

  • The option of multiple withdrawals means multiple separate loans. This reduces the clarity of your finances.

Do you want to know more?

Go to the Spotcap website

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More about Spotcap

Method and conditions

Method

The first step in applying for business credit online at Spotcap is to enter some personal and company details. You will then be asked to upload the VAT returns and an annual account of your company. To complete the application, you must upload a bank statement and a screenshot of your business internet banking.

Assessment of your credit application usually takes place within 1 working day. In case of a positive assessment, the amount will not be deposited immediately, but you will still have access to your credit. That means you will have 1 to 3 months - depending on the credit rating - to make withdrawals. You are not obliged to withdraw the entire amount. During the recording period you can make as many withdrawals as you want.

If you don't withdraw anything at all, you don't pay any credit costs. If you do withdraw, you pay a one-off commission on the entire agreed credit amount. You only pay interest on withdrawn credit. 3 months after the first admission, you can request a reassessment for possibly better conditions, a longer term and / or a higher limit.

Conditions

  • Your company has a Dutch current account with internet banking.
  • The minimum revenue for your business is $ 300,000 per year.
  • You have been active with your company for at least 2 years.
  • Your company is registered with the Chamber of Commerce.
  • The DGAs live in the Netherlands.

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