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Seek Business Capital Review: Pros, Cons, & How to Apply

Finding funding for your business can be time consuming and confusing with so many options available. Some small business owners prefer to work with a service that can apply to many lenders on their behalf.

Seek Business Capital, or Seek Capital, is a lending referral service designed to help you obtain funding that meets your needs and qualifications. The service enables you to secure working capital to grow and support your business.

The referral service differs from many online lending options because it is not a lender or lending marketing place. It does help you connect to multiple lenders, though.

Before working with the service, you should know its fees and reviews. Some customers praise the service, but many find it too expensive or don’t feel it doesn’t meet their needs.

This review will cover what you must know about Seek Capital, including the benefits and drawbacks and how to apply. Specifically, we’ll answer these questions and more:

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    What is Seek Business Capital?

    people, woman, call

    Seek Capital, LLC is a business funding referral service that matches business owners with lenders. The company aims to match you with funding programs that fit your qualifications and funding needs.

    Since it works with various lenders offering a wide range of products, the company has a high approval rate. The service is not a lender or brokerage and cannot specify loan amounts, terms, or APRs.

    The company launched in 2014. Since then, it has recorded over 16,000 approvals for over $400 million in funding.

    How does Seek Capital work?

    money, finance, mortgage, business loan, business lines of credit

    Seek isn’t a lender. Instead, it sends your application to its network of lenders. The company does not disclose the names of its lender partners, nor does it state how many lenders it works with.

    After applying, Seek Capital will work with you to determine the best program. Since it works with various lenders, you could qualify for several business lending products.

    Regardless of the funding option, Seek Capital offers funding between $5,000 – $500,000. You’ll usually get a fixed APR between 9% – 40%.

    Business Credit Cards

    One of the main ways Seek Capital offers business funding is by connecting business owners with personal and business credit cards. The company handles the application process and getting the cards funded. Getting a credit card with an introductory 0% APR for the first 12 months might be possible.

    Small Business Loans

    The company’s lending partners also provide access to various small business loans and financing arrangements. Seek Capital’s website provides some general information on small business loans but does not offer specifics.

    When you apply, you cannot select a specific loan. Instead, you must wait for the company’s lender partner to return a loan option. If you do not get a credit card, the lending institution Seek Capital sends your information to will provide one of the following:

    What are the qualifications for Seek Capital?

    checklist, check, marketing

    The qualifications depend on the specific financing product. The referral services do not publish minimum qualifications, but it does provide some suggestions for eligibility, such as a personal credit score minimum.

    Term Loans:

    • Credit score: 680+.
    • Time in business: 3 years.
    • Revenue: $300k annually.

    Business line of credit:

    • Credit score: 630+.
    • Time in business: 1 year.
    • Revenue: $180k annually.

    Equipment financing:

    • Credit score: 630+.
    • Time in business: 2 years.
    • Revenue: $130k annually.

    SBA Loans:

    • Credit score: 680+.
    • Time in business: 4 years.
    • Revenue: $180k annually.

    Seek Capital does not have suggested ranges for the other products it offers. Some reviews suggest you need a credit score of 700 to qualify for its most advantageous programs.

    For Seek Capital, You Need to Know That:

    office, business, accountant

    There is a $495 application fee, whether you receive funding or not. There is also an origination fee for their funding options. Some reviews state the origination fee runs as high as 9.5%-10% of the funding amount. The fee structure could be costly.

    The referral service is best for borrowers who need funding and are not particular about what form of financing they receive. You have little control over selecting what small business loan or credit card you receive.

    Seek Capital performs an initial soft credit pull for pre-approval, but its lending partners might run a hard credit check. When you apply, you agree to submit to a hard credit pull. A hard credit inquiry can negatively impact your credit score.

    The application process is fairly quick and easy, and you can get submitted to a lender the same day you apply to Seek Capital. You might get a determination within 1-3 business days. For some products, next-day funding is possible, but most Seek Capital funding options take 1-3 weeks to fund, which is a long time in the alternative lending space.

    The service includes information for becoming a partner but doesn’t specify if it has a referral partner program. Loan brokers may not be able to work with the service since it is not a lender or brokerage.

    How to apply to Seek Capital:

    loan, agreement, signature

    Seek Capital provides a quick online application. Follow these steps to apply for the funding process.

    Step 1: Complete the Online Application

    The first step is to fill out the online application. You’ll indicate how much you need and how you intend to use the funds. Next, you’ll supply the business name and contact information and your name and contact information. After that, you’ll indicate your time in business, monthly revenue, and credit score range.

    Step 2: Funding Consultation

    A financial advisor from the referral service will contact you for an over-the-phone consultation. You provide more details about your business, assets, and needs.

    Step 3: Get Your Funding Estimate

    Seek Capital’s underwriting team will analyze your business and credentials. If approved, you’ll receive an estimate for funding amounts, rates, and terms. The company will likely perform a soft credit pull at this time.

    Step 4: Finalize Your Application & Documentation

    If you accept the funding estimate, Seek Capital submits your application to their third-party lenders, who will perform a hard credit inquiry. Depending on the loan type, you might need to submit additional documentation. Examples of documents you may need to provide include the following:

    • Driver’s license or government-issued ID.
    • Personal bank statements.
    • Business bank statements.
    • Personal tax returns.
    • Business tax returns.
    • Personal credit report.
    • Business credit reports.
    • Profit and loss statements.
    • Business debt schedule.
    • Balance sheet.
    • Personal Financial Statement (only for SBA loans).

    Step 5: Receive Funding

    Once you finalize the application and submit any necessary documents, the lender closes the loan. You’ll usually receive your funding in 1-3 weeks, but next-day funding is possible with certain products.

    Seek Capital, Post-Funding:

    The business loan referral service charges an origination fee once you’re approved for funding. For example, if you received a business credit card, the first charge will be Seek Capital’s fee.

    If you were approved for funding but decided to decline it, Seek Capital charges a $495 termination fee. You don’t have to pay the fee if you were denied.

    Your payment terms largely depend on the loan or financing arrangement you received. SBA loans, term loans, and equipment financing will carry monthly payments. Business lines of credit are usually repaid weekly. Merchant cash advances have daily or weekly payments.

    Seek Capital reports to all three credit bureaus. Missed and late payments can negatively affect your credit score. The company does not provide an online portal to track your payment progress. You must contact them to keep track of payments.

    Some reviews suggest there are prepayment penalties if you pay your loan off early. However, we could not confirm this on Seek Capital website. There do not appear to be any early prepayment discounts.

    You can renew with Seek Capital, but it doesn’t provide information on renewals. Contact your Seek Capital representative for renewal information.

    What are the advantages of Seek Capital?

    The primary advantage of Seek Capital is that you can complete one application and have it sent to multiple lenders. The application process benefits business owners who don’t have time to research their funding options.

    You can usually get a determination on your request within a few business days. Since the advertising referral service works with many lenders and products, applicants have a high approval rate – over 92%.

    It’s also suitable for startups, which often struggle to find business financing. The service also has an excellent customer service rating.

    What are the disadvantages of Seek Capital?

    Seek Capital is not a lender, marketplace, or brokerage. It is an advertising referral service. Users who sign up for the service often complain of relentless spam and aggressive sales calls.

    The company charges very high fees, including its $495 application fee, nearly 10% origination fee, and $495 termination fee if you don’t accept the funding offer. Additional lender fees may apply.

    The service’s website does not provide much detail on available products, terms, or approval requirements. You have no way of knowing what you’re applying for until you receive an offer.

    Seek Capital also has many negative reviews, with customers complaining about the fees, persistent salespeople, and negative impact on their credit. The lender’s average funding time is between 1-3 weeks. Many alternative lenders and brokers can fund loans within 1-3 business days.

    Seek Business Capital Pros & Cons

    pros, and, cons


    • Many lending options are available.
    • Simple online application process.
    • Credit decisions within 1-3 business days.
    • High approval rate.


    • Application fee of $495 whether you’re approved or not.
    • High origination and termination fees.
    • Not transparent about qualifications, terms, or rates.
    • Might get spam from its lending partners.
    • Many negative online reviews.
    • Long funding time for most products.

    Apply for business funding through United Capital Source today.

    Seek Business Capital Frequently Asked Questions

    Is Seek Business Capital legit?

    Seek Capital is not a lender or broker but rather a marketing service. It is accredited by the Better Business Bureau with a B rating, so it is not a scam site. However, many users feel the service uses predatory lending tactics and high-pressure sales. In particular, paying a hefty application fee upfront is a red flag for many business owners.

    Does Seek Capital report to the credit bureaus?

    Yes, Seek Capital reports payments on funding products to the major credit bureaus. On the other hand, on-time payments can help build business credit. Its lending partners will also perform a hard credit inquiry when finalizing an application.

    Yes, Seek Capital reports payments on funding products to the major credit bureaus. On the other hand, on-time payments can help build business credit. Its lending partners will also perform a hard credit inquiry when finalizing an application.

    What do Seek Capital reviews typically focus on?

    peer review icon, peer review, review

    Seek Capital reviews are mixed but tend to lean towards the negative side. The referral service has a 1.06 out of 5 rating on the BBB and a 2.4 out of 5 rating on Trustpilot.

    The positive reviews for Seek Capital talk discuss excellent customer service. Many customers mention their funding agent by name. Another common theme in positive reviews is the ease of application and quick decisions.

    Negative reviews largely discuss the fees, funding time, and being referred to other services. Several customers complained about being constantly messaged even after turning down funding. Another common complaint was about hurting their credit score. Several people commented on only being referred for various credit cards despite having high credit scores.

    What if Seek Capital denies my funding request?

    The referral service has an estimated 92% approval rate. Sometimes the service will refer you to another lending service if it can’t get you approved through one of its lenders.

    You can apply again in 60 days if you applied and were declined. You can also contact the service if you need more information on why you were denied.

    Fortunately, plenty of business funding options, including direct lenders and lending marketplaces, can provide much more detailed information and customer service. There are many lending options for:

    Making Your Decision

    king, chess, checkmate


    Seek Capital is best suited for small businesses that need any funding and aren’t particular about what type of loan or financing they receive. It can also be helpful when you don’t know your funding options and want to see what’s available.

    Working with the service will incur a $495 application fee and a high origination fee if approved. However, the fees could be worth it if it gets you funding when other sources couldn’t.

    Established businesses with good credit and high revenue can likely find lower-cost financing options. In addition, if you prefer more control over your funding, you’ll probably need a different service.

    Based on the service’s fees, lack of definitive information, and customer reviews, we rate Seek Capital at 2.3 out of 5. The service can be helpful in some cases, but most small business owners have better options for financing.

    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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