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Uplyft Capital Review: Pros, Cons, and How to Apply

Online business loans are increasing in popularity among small business owners, especially with bad credit borrowers or those needing fast funding. Uplyft Capital is an online lender that specializes in both.

You only need a minimum credit score of 450 to qualify, and business owners can receive same-day approval with funding in 1-2 business days. However, the convenience and brevity of approval and funding carry higher costs than some competitors.

We can help guide you if you’re considering applying for Uplyft Capital. This review covers the available business loans, costs, pros and cons, and how to apply.

Specifically, we’ll answer these questions and more:

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    What is Uplyft Capital?

    Uplyft Capital is an online lender specializing in merchant cash advances to serve the small business community. The company can also help connect customers to other small business loans through its third-party lenders.

    Uplyft offers same-day approvals with funding available in 1-2 business days. The company’s merchant cash advance product is a viable option for small businesses with less than stellar credit that need fast funding.

    Founded in 2012, Uplyft has provided over $300 million in funding to more than 4,500 small- and mid-sized businesses (SMBs). Uplyft is available in all 50 states.

    The company also does business under its alternate names:

    Merchant Cash Cloud
    EaglePhillips, LLC.

    What financing products does Uplyft Capital offer?

    Uplyft Capital only directly funds merchant cash advances (MCAs). With an MCA, you receive a large sum of money upfront in your business bank account. You then repay that amount, plus interest, in daily or weekly payments from your credit card sales or ACH transfers from your debit card sales.

    The Uplyft merchant cash advance programs offer:

    • Borrowing amounts: $5k-$500k.
    • Terms: 2-12 months.
    • Factor rates: 1.24 – 1.4.
    • Fees: no origination or monthly service fees.

    Uplyft Merchant Cash Advance Program Tiers

    Uplyft Capital offers a tiered MCA program. Providing this information upfront allows you to estimate your costs and available borrowing amounts.

    Uplift merchant cash advance Program table

    Other Uplyft Capital Small Business Loan Products

    Uplyft only directly funds the MCA programs but works with third-party lenders. It might be possible to get one of the following funding solutions from an Uplyft lending partner:

    How do I qualify for Uplyft Capital?

    One of the main advantages of Uplyft Capital is that you can qualify even if you have bad credit and have only been in business for six months. However, you will need $12k in monthly revenue.

    Here are the minimum qualifications for Uplyft Capital:

    • Credit score: 450.
    • Time in business: 6 months.
    • Annual revenue: $144,000.

    For Uplyft Capital, You Need to Know That:

    It can be an expensive way to borrow money. Merchant cash advances are generally considered one of the costliest small business lending options.

    Uplyft’s factor rates are also slightly higher than similar MCA providers. However, the company doesn’t charge the fees most of its competitors do, so it’s a bit of a tradeoff.

    With a factor rate, you multiply the principal by the rate to determine how much interest you will pay. Let’s say you borrowed $100,000 at a factor rate of 1.34:

    ($100,000 X 1.34 = $134,000).

    In this case, you’d pay $34,000 in interest to borrow $100,000. You can use the funds for a wide range of business purposes, including:

    • Covering cash flow gaps.
    • Buying inventory ahead of an anticipated rush.
    • Working capital for unexpected expenses.
    • Expansion or other business growth opportunities.
    • Replacing or repairing business equipment.
    • Hiring and onboarding new employees.
    • Marketing and advertising campaigns.

    Uplyft Capital doesn’t restrict any industries except nonprofits. It is a good option if you’re in a riskier industry that has difficulty qualifying for business financing.

    How to apply to Uplyft Capital:

    The application is online only and takes just a few minutes to complete. Uplyft uses AI to help expedite the process.

    Required Documentation

    You will need the following documents to apply:

    • Driver’s license.
    • Bank validation.
    • Voided check.
    • Proof of ownership (you must own at least 50% of the business).

    Information Required to Apply

    You should also know some information ahead of time to help you complete the application. Be prepared to provide:

    • Your business name and contact info, including any DBA names.
    • The loan amount you’re requesting.
    • Your industry.
    • Credit score.
    • List of business debts, if any.
    • Bank type.
    • Business start date.

    Uplyft Capital: Post Funding

    Repayment begins after you receive your cash advance. Depending on the program, you’ll make daily or weekly repayments via ACH transfers.

    The loan is short-term, meaning you must repay it within a few months. Ensure your cash flow can handle the frequent repayments.

    Once you’ve made consistent, on-time payments, you could become eligible for renewal. It might be possible to renew it at a lower rate.

    What are the advantages of Uplyft Capital?

    One of Uplyft’s primary benefits is a fast funding time. The company offers a quick and easy application, and you can get a same-day approval decision. Funds are transferred within 1-2 business days after approval.

    With a minimum credit score of 450, Uplyft is among the best options for bad credit borrowers. You also only need six months in business to qualify, as long as you have proven revenue in that time. The company has a 90% approval rate.

    Uplyft is transparent about its costs. The company does not charge origination or monthly fees, which are standard fees that other MCA lenders will charge.

    What are the disadvantages of Uplyft Capital?

    The most significant drawback of Uplyft Capital is the cost. Merchant cash advances are already an expensive way to borrow money, and Uplyft has higher factor rates than the competition.

    The company only lends MCAs, at least as a direct lender. It lists other small business loan options as part of its business funding marketplace, but you must apply to those lenders, each with its own underwriting requirements. This can make the information on Uplyft Capital’s platform confusing.

    While the company accepts low credit scores and a shorter time in business, you do need high revenue to qualify. The requirement of $144k in minimum annual revenue will preclude many small businesses.

    Borrowers must repay the advance with a daily or weekly percentage of credit and debit card transactions. The frequent repayments, short terms, and high factor rates can strain your cash flow.

    Uplyft Capital Pros & Cons

    Here is a quick summary of the benefits and drawbacks of Uplyft Capital.


    • Fast funding time.
    • Quick and easy applications with same-day approval.
    • Offers a tiered merchant cash advance program.
    • Accepts low credit scores and shorter time in business.
    • 90% approval rate.
    • Renewal is available.


    • Higher factor rates compared to competitors.
    • Only a direct lender for merchant cash advances.
    • Requires $144k in annual revenue or $12k per month.
    • Frequent repayments are required.

    Apply for business funding through United Capital Source today.

    Uplyft Capital Frequently Asked Questions

    Is Uplyft Capital legit?

    Yes, Uplyft Capital is a legitimate online lender. The company has a 4.7 out of 5 rating on Trustpilot with over 150 reviews.

    The Better Business Bureau (BBB) has accredited Uplyft since 2022, where it has an A+ rating. Uplyft has a 4.43 out of 5 customer rating on the watchdog site, which is outstanding for BBB.

    Who is Uplyft Capital best for?

    The company’s merchant cash advance isn’t necessarily right for every small business. Uplyft might be the right fit for your business if:

    • You have a lower credit score but need fast funding to help support or grow your business.
    • You do a high volume of credit and debit card sales and average $12k monthly revenue.
    • You’re willing to pay higher factor rates to avoid the fees commonly associated with merchant cash advances.

    What do Uplyft Capital reviews typically focus on?

    Most reviews of Uplyft are very positive, but there are some negative ones you should know about. Positive reviews praise the speed of funding.

    Other positive reviews discussed the ease of the application and fast approvals for merchant cash advances. Many reviews praise the company’s great customer service, with several business owners mentioning their service rep by name.

    The most common complaint in negatives by far is the cost. Multiple commenters mentioned not accepting the merchant cash advance offer because of the cost. Others stated they accepted the offer, but repayments strained their cash flow to the point of risking the business.

    What if Uplyft Capital declines my loan request?

    Uplyft Capital has a 90% approval rate, but there are still some reasons an application might be denied. The biggest reason for denials is the revenue cutoff, but other factors like your industry or credit history could be an issue.

    The denial letter should explain why the company didn’t approve the request. If not, you can contact them for more information.

    Thankfully, there are plenty of online lenders if you were denied (or were approved but felt the costs were too high). There are many options for merchant cash advances or other small business loans that might not be as expensive as MCAs.

    Making Your Decision

    path, feet, shoes, merchant cash advance,

    Uplyft Capital’s merchant cash advance programs are a solid option for bad credit borrowers who need fast funding. The factor rates might be higher than some, but the lack of fees almost makes that increased cost a wash.

    You’ll also have the benefit of upfront, transparent pricing from Uplyft. You won’t have to worry about hidden fees or unexpected charges.

    The easy application process, minimal documentation, and high approval rate also make Uplyft an attractive option. However, more established businesses with good to excellent credit can likely find less costly small business loans.

    Based on the ease of use and customer reviews, we rate Uplyft Capital as a 4 out of 5. The company only loses points for its limited product offerings and high factor rates.

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

    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!

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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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