FROM OUR PARTNERS
Uplyft Capital specializes in merchant cash advances with four different program tiers. In addition, they have partnered with other lenders to provide a range of funding solutions that include lines of credit, SBA loans, and invoice financing.
Summary: With Uplyft Capital, small to mid-sized businesses can benefit from fast funding turnarounds and a simple, user-friendly online application process.
Loan Terms, Fees, & Rates
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|HQ||Miami, Florida, United States|
|Loan Amount||$5,000 – $500,000|
|Loan Terms||2 – 12 months|
|Interest Rate Type||Factor rate|
|Collateral Requirements||None for merchant cash advances|
|Min. Credit Score||500|
|Min. Monthly Revenue||$8,000|
|Time In Business||6+ months|
|Turnaround Time||1 – 2 days|
|State Restrictions||Available in all States|
Uplyft Capital is on a mission to provide businesses with a suite of funding solutions, a hassle-free process, and personalized offers that meet your unique business needs. There are four programs to choose from when taking out a merchant cash advance. These include:
|Uplyft Capital Program||Starter||Standard||Premier||Premier Plus|
|Term||2 – 5 months||2 – 7 months||3 – 8 months||3 – 12 months|
|Amount||$8000 – $30,000||$5,000 – $125,000||$10,000 – $250,000||$30,000 – $500,000|
In addition, the marketplace offers funding solutions in partnership with third-party lenders. These include the following:
You can view more information about the marketplace on their website.
Uplyft Capital adopts a seamless business loan application process where you can apply for funding and receive same-day approval. You’ll need to have the following information on hand:
A funding specialist can give you an idea of how much you can qualify for, with no obligation. Personal guarantees and collateral are not required. Minimal documentation may be required to support your application including:
To be eligible, your business must be in operation for a minimum of 6 months and have monthly revenue of at least $8,000.
Once your application has been approved, you can expect funding to occur within 1 – 2 business days.
Merchant cash advances with Uplift Capital can be used for a variety of purposes including:
Provided the funds are used for business purposes, there are very few restrictions on the use of funds.
Terms for a merchant cash advance range between 2 – 12 months. Factor rates start from 1.24 and go up to 1.4. This means that for every $10,000 you borrow, you’ll pay between $2,400 and $4,000 as a financing cost. There are no other fees.
Depending on the program you are approved for when you take out a merchant cash advance, you can make repayments via daily or weekly ACH debits.
Once you’ve established positive payment history, your business loan could be eligible for renewal at a better rate.
Uplyft Capital works with a range of businesses nationwide and the only restriction are non-profits. Industries that are considered high risk by traditional lenders could secure funding from Uplyft Capital.
Industries that could benefit from a business loan from Uplyft Capital include the following:
To get in touch with Uplyft Capital you can call 800-515-7531 or email:
You can also submit a message using the contact form on the website.
According to Trustpilot, Uplyft Capital has a 4.5 rating with over 70 reviews. Many of the positive reviews report great customer service and fast funding timelines. Unfortunately, some of the negative reviews warn of high factor rates and daily ACH withdrawals that can be a strain on cash flow for a business.
You might be wondering if Uplyft Capital is a legit company. As the merchant cash advance industry becomes saturated, it can be difficult to decipher the good companies from the bad ones.
Founded in 2012, Uplyft Capital has helped over 2000 businesses nationwide, funded over a hundred million dollars in small business loans, and has an A+ rating with the Better Business Bureau.
In addition, you can find Uplyft Capital over at Spotify where the company aims to help small businesses grow, secure funding, and increase sales.
Uplyft Capital is a good fit for business owners with bad credit who are seeking to secure funding with a short turnaround. The application process requires minimal documentation and there are no fees.
However, daily or weekly repayments could be a strain on small businesses that are funding a cash flow shortfall. The high factor rate could also make your business loan costly to finance.
When looking for a business loan, it’s a good idea to consider alternatives that can lower your cost of borrowing. Uplyft Capital offers a marketplace where you could be eligible for alternative financing solutions from one of their vetted partners.