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GoKapital Review: Pros, Cons, & How to Apply

Small business owners needing working capital that can’t qualify at commercial banks often turn to alternative business loan options. The alternative lending platform GoKapital offers one of the industry’s highest business loan approval rates – 95%.

The company offers six business funding options and commercial real estate investment loans. Business owners can apply online and receive a quick decision on pre-approval.

However, GoKapital does have high rates on some small business loans and can carry high annual revenue requirements. This review provides what you must know about GoKapital to help you decide if the lending platform is the right fit for your business.

Specifically, we’ll answer these questions and more:

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    What is GoKapital?

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    GoKapital is an online lending platform that offers a diverse range of small business loans to help entrepreneurs start and grow their businesses. The company provides a convenient, online, and streamlined application and review process with a fast turnaround on approval and funding for both new and existing businesses.

    The lending platform boasts a high approval rate. This is mainly because it works with a network of lenders to offer many funding options, including merchant cash advances which are the most accessible business funding product.

    The Miami-based company was founded in 2013 to help businesses that couldn’t qualify at traditional lenders, like a local bank. The company combines a technology-driven platform with financing experts to service its clients. It offers commercial real estate financing in addition to business loan offerings.

    What small business loans does GoKapital offer?

    dollar, flying, concept

    GoKapital offers six small business financing options.

    Merchant Cash Advance

    Merchant cash advances (MCAs) have the highest approval rate of any financing product. With an MCA, you get an immediate cash advance that purchases future receivables. You repay the advance, interest, and fees with a percentage of your future sales.

    GoKapital’s merchant cash advance offers loan amounts from $20,000 – $5 million with terms between 3-18 months. Factor rates start at 1.20. GoKapital states it can fund MCAs in 1-2 business days. MCAs are often offered to borrowers with bad credit scores.

    Unsecured Term Loan

    Term loans are what most people are familiar with when they think of “business loans.” This loan structure provides a large lump sum of cash upfront, which you repay plus interest in fixed monthly payments.

    GoKapital’s term loans are unsecured, meaning you are not required to put up collateral. Term loan amounts are between $30,000 – $350,000. Terms are 1-5 years with fixed interest rates between 6% – 25%. The company states it takes 1-2 weeks to finalize and fund its term loan product.

    Business Line of Credit

    A business line of credit provides an available credit limit from which you can draw funds as needed. In some ways, a line of credit acts like a credit card but with more flexibility. It differs from a term loan because you only access funding when needed instead of a lump sum.

    GoKapital’s business line of credit is an unsecured, revolving line, which means it replenishes as you pay it off (like a credit card). Line of credit amounts are between $5,000 – $55,000 with 6, 9, or 12-month terms. Rates start at 15%. The company can approve and fund lines of credit within 24 hours.

    Startup Business Loans

    GoKapital’s startup loans include term loans and lines of credit to help entrepreneurs launch their companies. Loan amounts are between $25,000 – $500,000 with terms of 3-10 years. Rates range from 6% – 18% with monthly payments.

    Equipment Financing

    The lending platform offers equipment loans and leases to acquire the equipment or machinery you need for your company. There is a wide range of equipment and machinery used across multiple industries.

    Small business owners can get equipment financing or leasing amounts between $30,000 – $5 million. Terms are 1-5 years, with interest rates ranging from 6% – 35%. GoKapital’s funding time for equipment loans is 3-5 business days.

    SBA Loans

    The company is an approved lending platform for SBA 7(a) and SBA 504 loans. The US Small Business Administration (SBA) partially guarantees up to 85% of SBA loans. With backing from the federal government, lenders can offer high borrowing amounts with low rates and longer terms.

    SBA loans through GoKapital offer borrowing amounts of up to $5 million with terms of up to 10 years. Interest rates are between 3% – 14%, regardless of the lender or lending platform. The SBA loan program carries high approval requirements and lengthy approval and funding times. Closing and funding an SBA loan can take several weeks to two months.

    What are the qualifications for GoKapital?

    business, plan, report, business bank statements, credit score, cash out refinance

    Since GoKapital offers various loan products, the qualifications vary depending on which loan you apply for. Here are the qualifications by loan type.

    Merchant Cash Advance Qualifications:

    • Credit score: N/A.
    • Time in business: 1 year.
    • Monthly revenue: $30,000.
    • Collateral requirements: None.

    Small Business Term Loans:

    • Credit score: 660+
    • Time in business: 2 years.
    • Annual revenue: $250,000.
    • Collateral requirements: None.

    Business Lines of Credit:

    • Credit score: 550+.
    • Time in business: 2 years.
    • Annual revenue: $240,000.
    • Collateral requirements: None.

    Startup Business Loans:

    • Credit score: 700+ (at 2 out of 3 bureaus).
    • Time in business: N/A.
    • Annual revenue: $N/A.
    • Collateral requirements: None.

    Since startups don’t have a company history, GoKapital has some alternate qualifications for this loan. Applicants must have a credit utilization of 40% or less, verifiable income, 5+ active revolving accounts, a history of installment loans, and no more than 3 credit inquiries in the previous 6 months.

    Equipment Financing:

    • Credit score: 580.
    • Time in business: 1 year.
    • Annual revenue: $360,000.
    • Collateral requirements: The equipment being financed or additional assets.

    SBA Loans:

    • Credit score: 680+.
    • Time in business: 2 years.
    • Annual revenue: $500,000.
    • Collateral requirements: Assets equaling loan amounts over $25,000.

    For GoKapital, you need to know that:

    accountant, accounting, adviser, early payment discounts

    Most loans use a simple interest rate, except for the merchant cash advance product. MCAs use a factor rate to determine interest. GoKapital’s MCA factor rates start at 1.20. Multiply the factor rate by the cash advance amount to determine how much you’ll pay.

    For example, if you received a merchant cash advance for $150,000 at a 1.20 factor rate, the formula would be:

    $150,000 x 1.20 = $180,000. You’d pay $30,000 in interest to borrow $150,000.

    The lending platform does not reveal its methodology for determining funding amounts. MCAs are typically based on previous sales history, but other loans can be more complicated.

    The platform is a lending marketplace, meaning your loan request gets sent to multiple private lenders. Sometimes, you might get multiple loan offers with different amounts, rates, and terms from different lenders. It doesn’t have a mobile app but does provide an online portal for small businesses.

    The lending platform services a more diverse range of industries than many similar lenders. Examples of industries GoKapital services include:

    • Cannabis businesses.
    • Retail.
    • Medical & dental practices.
    • Restaurants.
    • Accountants.
    • Trucking.
    • Auto repair.
    • Construction.
    • Transportation.
    • Gun shops.
    • IT services.
    • Insurance brokers.
    • Veterinarians.
    • eCommerce.
    • Funeral homes.

    How to apply to GoKapital:

    You can apply on the platform by following these steps. The company performs a soft credit pull, which won’t affect your credit score. Some products, such as SBA loans, may require a hard credit pull when finalizing the loan.

    loan, agreement, signature, application process

    Step 1: Complete the Online Application

    Fill out the required details on the simple online application. You’ll supply information about your company, including the name, location, structure, contact information, and revenue.

    You’ll also supply your name, contact information, and personal credit score. You’ll state how much you’re requesting and how you intend to use the funds. Finally, you’ll e-sign the application, which allows GoKapital to send it to lenders who might require a signed application.

    Step 2: Provide Documentation

    For all GoKapital loans, you’ll need to provide the following:

    • Driver’s license.
    • Business bank statements.
    • A voided check from your business checking account.

    Some loans, such as SBA loans, require more detailed documentation. Be prepared to provide:

    Step 3: Select Your Funding Program

    GoKapital reviews your application and provides a determination on pre-approval. If approved, you’ll work with a funding advisor to select the right loan program for your needs.

    Step 4: Get Funded

    After selecting a program, you’ll finalize the loan offer. Depending on the loan, you could receive your working capital within 1-2 business days. SBA loans take several weeks to fund.

    GoKapital, Post Funding:

    investment, finance, time

    MCAs require daily or weekly payments, which are automatically deducted from your daily sales. Term loans require monthly payments, and GoKapital offers early payment discounts.

    Business lines of credit require weekly repayment once you draw funds. You can get an early payment discount and save on interest if you pay it off beforehand.

    Equipment financing requires monthly repayment, but it does not indicate if there are any discounts or penalties for early repayment.

    Startup loans have a monthly payment and no early repayment penalty. The platform’s website does not indicate if you can save money by paying off the loan early, but it does recommend paying it off early to free up cash flow.

    SBA loan payments are monthly, and the SBA sets specific rules on early payment penalties. The only time an SBA lender can charge a prepayment penalty is if a company pays off a loan with a 15-year or greater term in the first five years of the loan.

    What are the advantages of GoKapital?

    Small business owners that work with GoKapital benefit from a diverse line of funding products to meet their needs. Since the platform offers multiple products and partners with a network of lenders, it boasts a very high approval rate.

    The platform provides a simple online application with instant pre-approval for qualified applicants. Depending on the loan product, you can finalize a loan offer and get funding within 1-3 days.

    GoKapital also offers startup financing, differentiating it from many alternative lenders. It also provides funding for high-risk industries such as cannabis businesses and gun shops – many lenders restrict these companies.

    The diversity of loan products also provides flexible payment options. The company is also known for its exceptional customer service.

    What are the disadvantages of GoKapital?

    The rates on some products, such as MCAs, can get high. In addition, GoKapital’s revenue requirements are on the higher end for alternative lenders and MCA providers.

    The company’s rates are especially high for borrowers with bad credit or less than stellar credit. While some rates start at 6%, you’d need outstanding credit to qualify. Most business owners will be at the higher end of their interest rate ranges.

    GoKapital Pros & Cons

    pros, and, cons

    Here’s a quick summary of the benefits and drawbacks of GoKapital.


    • Various loan products & high approval rates.
    • Simple online application process.
    • Reasonably quick turnaround on approval and funding (for most products).
    • Financing is available for startups & high-risk industries.
    • Good customer service.
    • No extra fees or hidden charges.
    • Commercial real estate financing options


    • Rates can be high on some products.
    • Rates can be high for lower credit borrowers.
    • High monthly revenue requirements.

    Apply for business funding through United Capital Source today.

    GoKapital Frequently Asked Questions

    Is GoKapital legit?

    Yes, GoKapital is a legitimate online lending platform. The Better Business Bureau has accredited the company since 2016, where it has an A+ rating.

    What real estate loans does GoKapital offer?

    architecture, buildings, city, real estate financing

    While many lenders exclude real estate investment loans, the lending platform provides several financing options to service this sector. Real estate investor loan options include:

    • Commercial real estate loans.
    • Loans for investment properties.
    • Loans for rental properties.
    • Hard money flip loans.
    • Bridge loans.
    • Foreign national loans.

    Does GoKapital have an ISO affiliate program?

    Yes, GoKapital offers a business loan referral partner program for ISO affiliates and business loan brokers. Independent business loan brokers partner with the company to provide GoKapital loans to their clients.

    Brokers act as an intermediary between small business owners and lenders. Some owners prefer working with brokers because they can do the legwork of shopping for the best deals.

    What do GoKapital reviews typically focus on?

    peer review icon, peer review, review

    Despite being in the industry for a decade, GoKapital has few online reviews. The company has an average rating of 4.2 out of 5 on TrustPilot on only six reviews. It has a 4.3 out of 5 rating on Google with 43 reviews.

    Of the available examples, positive reviews talk about excellent customer service and ease of applying and getting funding. Several reviews were from repeat customers. There are also mentions of the funding advisor finding funding for traditionally high-risk businesses such as gun shops.

    The few negative reviews talked about unsolicited offers and aggressive sales tactics. Since it works with a network of lenders, users will sometimes receive marketing offers from those companies after applying. Some users felt they received contradictory information.

    What if GoKapital denies my business funding request?

    The company has high approval rates because it offers multiple products and works with numerous lenders. For example, businesses that didn’t qualify for a term loan will likely still qualify for a merchant cash advance.

    However, GoKapital does have a high revenue requirement. Most products require revenue between $20,000-$30,000 per month.

    If you applied and were declined, the denial letter should explain why. Contact them directly if you need more information on the denial.

    Fortunately, there are many business lenders to consider if you were denied or decided GoKapital wasn’t a good fit for your company. Merchant cash advances are increasingly popular as they’re the most accessible form of business financing.

    You also shouldn’t have trouble finding lenders for business term loans, lines of credit, or equipment financing. SBA-approved lenders are more difficult to come by, but there are still multiple online lenders for SBA loans.

    Startups will usually have more difficulty finding loans. One of GoKapital’s main competitive advantages is servicing this market. However, you should still be able to find startup business loans from several online lenders.

    Making Your Decision

    decision, path, signpost

    GoKapital is worth considering for small businesses needing fast working capital access. Niche industries, such as gun shops and cannabis, in particular, can benefit from the lending platform. It’s also a good option for startups or businesses seeking real estate financing.

    The diverse product offerings and network of private lenders combine to increase approval odds. But beware that lower qualified businesses will likely be recommended for higher-cost products, such as merchant cash advances.

    Perhaps the biggest drawback to the lender is the high revenue requirements for most products. Businesses earning less than $20k-$30k monthly will likely have to find a different lender.

    In addition, businesses with a strong credit history, multiple years in business, and high yearly revenue can likely find lower-cost financing options at a traditional bank. However, the company still offers quick funding and excellent customer service.

    Based on user reviews, products, and costs, we rate GoKapital at 4 out of 5.

    Apply for business funding through United Capital Source today.

    Why Choose United Capital Source?

    Why businesses choose UCS:

    Quick funding options that won’t affect credit
    Access to 75+ lenders with multiple products to choose from
    Financing up to $5 million in as few as 3 days
    1500+ 5 star reviews from happy clients!

    Ready to grow your business? See how much you qualify for:

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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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