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

Small business owners who can’t qualify for traditional business loans often choose funding alternatives. Elevation Capital is an online lender specializing in alternative options like merchant cash advances, accounts receivable financing, and purchase order financing.

However, the business cash advance provider might not be the right fit for every company. The borrowing options can carry higher costs, and you need high annual revenue to qualify.

We can help you decide if the funder is the right option for your small business by covering the benefits, drawbacks, and application process. Specifically, we’ll answer these questions and more:

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    What is Elevation Capital?

    Elevation Capital Group, LLC. is an online financial services company and direct funder for alternative business financing solutions. The private finance company’s team is comprised of financial industry professionals.

    It offers several types of funding for business owners with low credit scores. However, applicants need at least six months in business and high annual revenue.

    It launched in 2010 and has provided over $150 million to over 2,500 businesses nationwide. The funder is based out of Bel Air, Maryland.

    How does Elevation Capital work?

    bank, wire transfer, online, merchant cash advances, unpaid invoices, financing products

    Small business owners who can’t qualify for traditional business loans might be interested in one of the available funding solutions, provided they generate a lot of revenue. When you apply, the company will place you in the program that best meets your needs.

    Here are the available programs.

    Merchant Cash Advance

    • Advance amounts: $10k – $3 million.
    • Terms: 12-month average.
    • Factor rates: 1.12 – 1.24.
    • Origination fee: 0%-1%.

    A merchant cash advance provides a large lump sum of money based on your sales history and projected future sales. You repay the advance, plus interest and fees, with a percentage of your sales. Merchant cash advances are technically not loans but are business-to-business transactions.

    Invoice Factoring & Accounts Receivable Financing

    • Advance amounts: $5k – $10 million.
    • Terms: Average repayment is 120 days.
    • Factor rates: 1.12 – 1.24.
    • Origination fee: N/A

    Invoice factoring, or accounts receivable financing, is a process where you sell, or “factor,” the unpaid invoices in your accounts receivable for an immediate cash advance. The third-party factoring company that issues the advance collects the amount due from your customers. Once your customers pay, the factoring company sends the remaining balance minus its fees.

    A factoring arrangement typically provides 70%-90% of the invoice amount, called an advance rate. The process allows you to convert the assets in accounts receivable into liquid working capital.

    The factoring company takes a percentage of the invoice as its payment. That percentage is called the factor rate or sometimes discount rate since it’s essentially purchasing the invoices at a discount.

    Inventory and Purchase Order Financing

    • Advance amounts: $100k – $10 million.
    • Terms: 6-month repayment average.
    • Factor rates: 1.12 – 1.36.
    • Origination fee: 2%.

    Inventory and purchase order financing provides funding to purchase inventory and meet customer needs. With inventory financing, you can use your existing inventory as collateral to gain working capital.

    With purchase order financing, the company pays your suppliers when you receive a customer order and don’t have the cash flow to fulfill it. The customer then pays the company back directly.

    What are the qualifications for Elevation Capital?

    All applicants must meet the following minimums:

    • Time in business: 6+ months.
    • Annual revenue: $150,000+.

    If you don’t have a full year in business yet, you must have a minimum monthly revenue of $12,500.

    Credit score requirements depend on the funding product. Here are the minimum credit score requirements for each:

    • Merchant Cash Advance: 500.
    • Invoice Factoring: 550.
    • Inventory and purchase order financing: 600.

    For Elevation Capital, You Need to Know That:

    The online lender’s products are all variations of cash advances. The specific product you receive largely depends on your credit score and type of business.

    Merchants who process daily real-time sales are more likely to get an MCA. If your enterprise sells on credit, invoice factoring makes more sense. Newer businesses needing help obtaining inventory from suppliers will most likely get purchase order financing.

    The products are more accessible than traditional business loans since you don’t need an excellent credit score to qualify. These funding solutions also deliver the cash advance quickly in most cases. Elevation Capital’s website states you can typically receive funds in 1-3 business days.

    However, the ease of access and fast funding come at a premium. The company uses a simple interest method called factor rates to determine how much you’ll pay. Its factor rates range from 1.12 to 1.36.

    To calculate your total repayment, multiply the cash advance amount by the factor rate. For instance, if you received an advance for $250,000 at a factor rate of 1.2, the formula would be:

    $250,000 X 1.2 = $300,000. You’d pay $50,000 in interest for the advanced $250k. Factor rates can also be expressed as a percentage. 1.12 = 12%, 1.2 = 20% and so on.

    The factor rate is applied when you receive the advance. That means you’re paying the same amount of interest no matter when you pay off the total. There’s no way to save on interest by paying the debt early.

    In addition to factor rates, some products carry an origination fee of 1%-2%. The fee is usually applied when you receive the advance and becomes part of your repayment total.

    The online lender provides a business loan affiliate program. ISOs and business loan brokers can offer the lender’s products to their small business clients. The program includes some special incentives and perks for Elevation ambassadors with its Platform Funding.

    How to apply to Elevation Capital:

    The application process is quick and easy. Follow these steps to apply.

    Step 1: Complete the Online Application

    First, fill out the online application with information about yourself, your business, and how much you need to borrow. You will upload the four most recent business bank statements with your application.

    Step 2: Review Funding Options

    After applying, a funding specialist will call you to discuss your application and needs. The specialist will help you understand and guide you through your available options.

    Step 3: Receive Your Funds

    Once you decide on your funding program, the company sends the funds. You could receive the money as soon as 24 hours after approval.

    Elevation Capital, Post Funding:

    The repayment process depends on the product you receive. Merchant cash advances are repaid with a percentage of your sales, called a holdback rate. That means the amount you pay fluctuates with your sales revenue. You will either have daily or monthly payments.

    Invoice factoring repayment depends on when your customers pay their invoices. Usually, the factor rate gets applied each term the invoice goes unpaid. For example, let’s say you issue invoices on net-30 terms, meaning your customers must pay within 30 days. The factor rate gets applied when you first receive the advance. If your customer pays late, the factor rate gets applied every 30 until the invoice is paid. Late-paying customers can drive up the factoring cost significantly.

    With purchase order financing, the funds go directly to your suppliers. The company receives payment when your customers pay. As with invoice factoring, late-paying customers can drive up your costs.

    The company does not publish specifics on renewal, such as what percentage of the advance you must repay before you’re eligible. However, the company does state it has a 70% retention rate.

    What are the advantages of Elevation Capital?

    The funding Elevation Capital provides offers several benefits to small business owners. The application process is quick and easy, with a fast turnaround on approval. Once approved, you can receive the funds in 1-3 days.

    The company also offers high advance amounts, with MCAs providing up to $3 million and other programs increasing to $10 million. You don’t need a high credit score for approval. The application requires minimal paperwork and documentation.

    What are the disadvantages of Elevation Capital?

    The most significant drawback is the cost involved. Business cash advances are generally some of the most expensive business funding options, which can negatively impact your cash flow.

    The time in business requirement is longer than some MCA providers, which often only require three months in business. It also has a high annual revenue requirement.

    Some products also carry origination fees, which add to the already high cost. The website doesn’t disclose information on prepayment penalties or discounts and lacks some transparency on terms and costs.

    Pros & Cons:


    • Quick & easy application with a fast turnaround on approval.
    • Fast funding time at 1-3 business days after approval.
    • Multiple cash advance products & high borrowing amounts.
    • Low credit score requirements.
    • Minimal documentation.


    • Cash advances are expensive business funding options.
    • Long time in business & high annual revenue requirements.
    • Some products charge an origination fee.
    • Lack of transparency on renewals, terms, and other costs.

    Apply for business funding through United Capital Source today.

    Elevation Capital Frequently Asked Questions

    Is Elevation Capital legit?

    Yes, Elevation Capital is a legitimate business cash advance company. It’s been Better Business Bureau (BBB) accredited since 2018 and has an A+ rating on the watchdog site.

    What do Elevation Capital Reviews typically focus on?

    Despite over a decade in business, we could not locate customer reviews for the online lender. It has zero BBB reviews or complaints, no Trustpilot reviews, and zero Google reviews.

    What if Elevation Capital denies my business funding request?

    One of the company’s main advantages is its low credit score requirements. However, the time in business and annual revenue could make it challenging for some small businesses to qualify.

    If you were declined, the denial letter should explain why. You can contact the online lender directly if you need more information.

    Fortunately, many online lenders (or a marketplace like UCS) provide small business funding. You shouldn’t have difficulty finding other merchant cash advance providers or invoice factoring companies. There are also multiple options for purchase order financing.

    You might also be interested in other small business loans, such as:

    Making Your Decision

    path, feet, shoes

    Elevation Capital is best suited for small business owners with high annual revenue but low credit scores who need fast funding and are willing to pay a premium. While the costs can be expensive, it might be worth it if it helps you sustain and grow your business.

    More established businesses with good credit scores can likely qualify for lower-cost business financing with other lenders. However, the fast-funding time might make the funding options worthwhile if you have an urgent need.

    Based on the available information, we rate the company as 3.5 out of 5. Its MCA, factoring, and purchase order financing products are worth considering. But the lack of transparency and online reviews makes it more difficult to make an informed decision about the company.

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

    Apply for business funding through United Capital Source today.

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    Quick funding options that won’t affect credit
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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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