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CAN Capital Review: Pros, Cons, & How to Apply

CAN Capital is a small business financing company in operation since 1998. It was one of the pioneers in the alternative business lending space and one of the first to offer merchant cash advances.

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The company has evolved since 1998, as it now offers short-term loans and some equipment financing for small businesses. It remains one of the top options in small business alternative financing.

If you’re a small business owner considering a financing product from CAN Capital, we can help guide you with this lender review. Specifically, we will answer these questions:

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    What is CAN Capital?

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    CAN Capital is one of the longest-running companies in the alternative lending industry. It was one of the first companies to offer merchant cash advances when it launched in 1998.

    The company has grown and evolved in the twenty years since it launched under the AdvanceMe brand. In 2013, the company rebranded as CAN Capital Inc., bringing the Capital Access Networks, AdvanceMe, and New Logic brands under one banner.

    In 2017, CAN Capital allied with Varadero Capital, expanding its capital access and strategic planning. Originally based in Georgia, CAN Capital is now registered in Georgia and New York. Today, the company is one of the leading small business lenders in the country.

    What CAN Capital Business Loans are Available?

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    CAN Capital offers several small business loans, including short-term loans, merchant cash advances, and equipment financing. All small business loan requests start by completing a pre-qualification questionnaire.

    Once the company receives your application, it sends loan offers that meet your specific needs. After deciding on an offer, CAN Capital completes the underwriting process. You will receive the funds in 1-2 business days if approved.

    Short-Term Loans

    CAN Capital’s term loans range from $2,500-$250,000 with terms between 6 and 24 months. The amount you qualify for depends on your annual revenue.

    Term loans carry an origination fee of up to 3% of the loan amount. You can set up daily or automatic weekly payments. Business owners can use the funds as working capital to solve cash flow issues, grow their business, invest in marketing, purchase inventory, and more.

    Merchant Cash Advance

    The company’s merchant cash advance is very similar to the term loan, with the same borrowing amounts. Instead of an origination fee, you’ll pay a $595 administrative fee.

    With this type of financing, repayment comes from a percentage of future sales. As such, there are no set limits like there are with term loans. Your daily payments fluctuate with your sales, and the term goes as long as it takes to repay the borrowed amount from your daily revenue.

    CAN Capital provides merchant cash advances through its subsidiary, CAN Capital Merchant Services. Merchant cash advance customers can access the AdvanceMe merchant portal. The portal is not available to customers for their other loan products.

    Equipment Financing

    CAN Capital’s equipment financing allows small businesses to purchase needed equipment when they don’t have the working capital to purchase it outright. The company offers to finance new or used equipment between $5,000 and $250,000, with terms ranging from 24 to 72 months. Unlike the company’s other products, equipment loans have monthly payments.

    What are the Qualifications for CAN Capital?

    Like many alternative lenders, CAN Capital bases lending decisions on your business performance more than traditional metrics. Even so, there are some minimum qualifications you should know.

    Credit Score

    CAN Capital requires a minimum credit score of 600 for term loans and equipment financing. There is no credit score requirement for the merchant cash advance.

    The threshold is lower than most traditional lenders, but some online lenders offer bad credit financing if your personal credit score is below 600.

    Time in Business

    CAN Capital’s website indicates borrowers need at least three years in business to qualify for the term loan. Merchant Cash Advances might only require 6 months in business, but it depends on the company and revenue.


    Qualifying small businesses need at least $175,000 in annual revenue. Loan amounts usually go up to 70% of your annual revenue, but the exact amount depends on your application.

    Debt and Bankruptcy

    CAN Capital will only work with businesses with less than $175,000 in tax liens or judgments. CAN Capital will work with business owners who have a personal or business bankruptcy on their credit history as long as it was discharged at least 12 months prior to applying.

    Some lenders require seven years from the last bankruptcy report, while others won’t consider an applicant with any history of going bankrupt.

    Business Bank Account

    CAN Capital requires all applicants to have a business bank account. The company reviews bank statements to identify your business’s revenue and cash flow when determining loan eligibility.

    Your business checking account is also where CAN Capital sends the funds when approved. Repayments deduct from your business bank account via ACH transfers.

    For CAN Capital, You Need to Know That:

    Rates tend to run high as they do with most short-term lenders. Instead of a traditional APR, the company charges a fixed lending rate.

    CAN Capital used to provide a lending calculator on its website but has since removed it. When the calculator was running, the rates ranged from 1.15 to 1.35, meaning you’d pay anywhere from $0.15 to $0.35 for each $1 you borrow.

    While the rates are higher than what you’d pay at a traditional bank, CAN Capital provides much faster funding with a lower barrier to entry. In some cases, you can receive funds within 48 hours of applying. If CAN Capital requires additional information, the process can take longer.

    The company does not list any restricted industries. You can use the loan proceeds for most business purposes, except for purchasing commercial real estate.

    All CAN Capital loans require a personal guarantee. In some cases, the company might file a blanket UCC lien on your business assets.

    Repayments are processed via automated clearing house (ACH) transfers. Make sure you enroll in automatic payments to avoid missing payments and incurring late charges.

    How to Apply to CAN Capital:

    The application process is quick. The first step is to provide basic information about your company. You can apply online or call CAN Capital directly.

    Step 1: Complete Online Application

    You can apply for CAN Capital through our one-page online application. You need to provide basic information about the business and provide business bank statements from the previous three months.

    Step 2: Finalize Application

    CAN Capital will review your application to determine if you prequalify. You can choose to work with a CAN Capital representative at this point. The company then sends you a loan offer, or offers, if you’re eligible.

    At this point, you should carefully review the terms, fees, and interest rates. Once you accept an offer, the company completes the underwriting process. In most cases, CAN Capital only performs a soft credit inquiry and might do a hard pull if they need more information.

    Depending on the loan and amount you requested, you might need to provide additional information, such as a recent business tax return. A CAN Capital representative will reach out if more documentation is required.

    Step 3: Get Funded

    Once approved, CAN Capital sends the funds to your business bank account the next day.

    CAN Capital, Post-Funding:

    Merchant cash advances are repaid from a percentage of daily credit card sales. You will repay term loans via ACH transfer on a daily or weekly basis. Equipment loans are also repaid with an ACH transfer from your business bank account but on a monthly schedule.

    After the first 90 days of a short-term loan, borrowers are eligible for a 6% discount for early repayment in full. The discount is subject to the terms and conditions established in your loan agreement.

    Keep in mind the short-term loan is not amortizing, and the discount does not alleviate future interest. Instead, it is a percentage discount on the fixed financing cost.

    CAN Capital will reach out to you when your business is eligible for renewal. While the company does offer a prepayment discount, it does not offer an interest discount on renewals.

    What are the Advantages of CAN Capital?

    CAN Capital offers numerous benefits to small business owners needing financing for their companies. The application process is quick and easy with lower borrower qualifications than many other lenders.

    The company is willing to work with borrowers with bad credit as well as businesses with debt. One of CAN Capital’s most significant advantages is the ability and willingness to work with borrowers who have a bankruptcy on their credit file, provided it’s at least 12 months old.

    The company also offers a quick turnaround time on funding. Businesses typically receive their funds in 2-3 business days after applying, although it might take longer if there’s additional information required.

    Another advantage of CAN Capital is the company’s outstanding customer service. CAN Capital employees are knowledgeable, courteous, and able to work with small businesses to achieve their financing goals.

    While the rates for short-term loans run high, CAN Capital’s rates are moderate compared to other short-term financing agreements. The company also offers a prepayment discount allowing small businesses to save even more.

    What are the Disadvantages of CAN Capital?

    Many of CAN Capital’s shortcomings are due to the nature of short-term lending. The rates are higher, repayment terms are shorter, and borrowing amounts cap out at $250,000.

    CAN Capital’s underwriting process is also different than other alternative lenders. There’s more of a focus on underwriting at the later stages of the application process, leading to a higher denial rate on applications.

    The daily or weekly payment schedule also presents a challenge for some small businesses. The loans are also not amortizing.

    Borrowers can’t build business or personal credit with a business loan from CAN Capital business. The company does not report to the major bureaus.

    The company has also become less transparent in recent years. It no longer includes a payment calculator on the website, making it more difficult to estimate the cost of financing with the company.

    We compiled a pro and con list for a quick summary.

    CAN Capital Pros & Cons:

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    • Quick and easy application process.
    • Low credit score requirement.
    • Fast funding – potentially available in 48 hours.
    • Friendly and knowledgeable customer service.
    • Over 20 years of experience and an established name in alternative lending.
    • Works with businesses that have bad credit, debt, or even bankruptcy.
    • Discount for prepayment of short-term loans.


    • Requires daily or weekly payments except for equipment financing.
    • Equipment financing only goes up to $250k.
    • Charges an origination or administration fee.
    • The company’s loan products won’t help build business credit.
    • More expensive than long-term and traditional loans.

    Apply for business funding through United Capital Source today.

    CAN Capital Frequently Asked Questions

    Is CAN Capital Legit?

    Yes, CAN Capital is a legitimate and trustworthy lending institution. It’s one of the oldest businesses in the alternative financing space. Since launching in 1998, the company has helped provide over $7 billion in working capital to more than 81,000 small businesses.

    What Do CAN Capital Reviews Typically Focus On?

    CAN Capital has an A+ rating with the Better Business Bureau and a 4.9 rating on TrustPilot. It also rates highly on Best Company with a 4.3 user rating.

    Customers who rate CAN Capital highly talk about the ease and speed of the funding process and the excellent customer service. Many users commented about their representative’s courtesy and professionalism. We should note that some of the negative complaints discussed being unable to contact customer service or never hearing back from the company.

    Other positive reviews discuss the lower qualifications for approval. Several customers talked about getting approval from CAN Capital when other lenders denied them.

    User complaints often talked about the high rates and fees. While they are competitive with similar lenders, the cost of short-term financing tends to run higher than more traditional business financing.

    However, some customers commented the tradeoff was worth it for the fast funding and approval. One customer said the rates he received from CAN Capital were lower than offers from similar lenders.

    Some customers discussed issues with making daily payments. Daily payments could be an issue for certain businesses.

    A few users commented they were unaware that CAN Capital performs a hard credit check. Not all business loans require a hard credit pull, but the company should notify you when it does require it. Ensure you carefully read the terms when applying.

    There are also some comments expressing confusion over the prepayment discount. Some customers expressed not knowing what situations qualify for the discount, while others stated they never received the discount when it was supposed to apply.

    While CAN Capital provides fast funding, some customers complained the process took longer than expected. One comment indicated the user was told he’d receive funding in 48 hours, but the reality was closer to 5 business days.

    Does CAN Capital Report to Credit Bureaus?

    Unfortunately, no CAN Capital does not report to the major credit bureaus. You must find a different financing program if you want to improve or establish your business credit (or personal credit).

    What if CAN Capital Denies Me?

    While CAN Capital tends to have lower qualifications than other lenders, there is still a chance your application will get denied. There are several reasons why the company might deny a loan request.

    One thing to keep in mind is that CAN Capital emphasizes the underwriting process towards the end of the application process. After completing your online application, the company sends you an offer or offers for a business loan.

    CAN Capital then performs the underwriting process when you accept an offer, leading to a higher decline rate further along in the process. Issues that could trigger a denial include cash flow problems, not meeting the minimum requirements, or other liabilities discovered during underwriting.

    If you applied and received a denial letter, it should explain the reasons why the company declined the loan application. If not, or if you need more clarification, you can call CAN Capital to discuss the issue in further detail.

    If you were denied but still need small business financing, there are a lot of other lenders to consider. You can even find some lenders that specifically deal with bad credit business financing.

    You should be able to find lenders offering merchant cash advances and equipment financing. You might also find a lender offering business term loans at a better rate and longer repayment terms that CAN Capital.

    Making Your Decision

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    CAN Capital is best suited for small business owners who don’t have the established credit to secure financing with a traditional lender. The alternative financing company is also suitable for businesses needing urgent funding.

    More established businesses that don’t need immediate funding can find less expensive interest rates. However, short-term financing might be attractive to companies that can afford the payments but don’t want to carry debt for an extended period.

    As with any financing agreement, ensure you read all the terms and conditions of your application and loan. You should ensure you know all the ins and outs of fees, rates, and prepayment discounts so you can plan accordingly.

    CAN Capital might also benefit small businesses looking for a financing partner. The company has good renewal rates, and some customers commented they’ve been with the company for a decade.

    At UCS, we know customers are generally happy with CAN Capital and return for multiple rounds of financing. Based on user reviews, available products, and customer service, we rate CAN Capital at 4.25 out of 5.

    Disclaimer: The CAN Capital trademark is owned by CAN Capital, Inc. and its use herein is for reference purposes only and it does not indicate sponsorship or endorsement from CAN Capital, Inc.

    Apply for business funding through United Capital Source today.

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        At UCS, we understand the value of your time and want to ensure that your application has a great chance of approval. Please take note of the following details before applying:
        • To be eligible, it’s necessary to have a business bank account with a well-established U.S. bank such as Chase, Wells Fargo, Bank of America, Citibank, or other major banks. Unfortunately, online-based bank accounts like PayPal, Chime, CashApp, etc., are not permitted.
        • When describing your current average monthly sales deposits to your business bank account, please provide accurate information. Our approval process is based on your current business performance, and it’s essential to provide accurate details about your current sales in the first question on the application form. We cannot approve applications based on projected revenues after receiving funding.
        We appreciate your understanding and cooperation in ensuring a smooth and successful application process.
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