Who is Capify?
Capify (formerly known as AmeriMerchant) was founded in 2002 and provides working capital solutions to small businesses. Capify offers two main alternative financing programs: Merchant Cash Advance and Business Loan.
Who are Capify's Clients?
Capify works with a wide-range of businesses including retailers, restaurants, wholesalers, professional services and other small businesses.
Where is Capify Located?
Capify is based in New York City.
How much funding can I obtain through Capify?
You can receive anywhere from $5,000 to $1,000,000 in funds to be used however you deem fit for your business.
How fast can I receive funding?
Our simple online application offers 60 second decisions, free and at no obligation. After you complete the application, you can typically receive funding in just a few days.
Do I need a business plan to obtain working capital through Capify?
No! One of the many advantages of our programs over a traditional lender is that Capify does not require a business plan in order to receive funding.
Can I qualify for funding if I have bad credit?
Yes! Because our Merchant Cash Advance and Business Loan are based on the strength of your business rather than your credit history, a low credit score will not prevent you from acquiring the working capital you want.
What can Capify’s funds be used for?
Whatever your business wants! Common uses for our funding programs include purchasing inventory, renovations, marketing, advertising, seasonal expenses, purchasing equipment, and meeting payroll.
How do I know which of Capify’s products is right for me?
If your business accepts credit cards, has fluctuating sales, and you don’t want to pay monthly minimums, then you should inquire about our Merchant Cash Advance.
If your business does not process credit cards, then you should inquire about our Business Loan.
What is a Merchant Cash Advance?
A Merchant Cash Advance is an innovative alternative to a traditional small business loan. Capify utilizes your current credit and debit card sales to be able to provide you with financing so you can put your business plans into action.
To learn more about out Merchant Cash Advance, click here.
How does a business pay back their merchant cash advance?
Unlike most traditional bank loans, there are no fixed monthly payments with a Merchant Cash Advance. The repayment is completely flexible and works alongside your natural cash flow. During the length of your payback period, a small percentage of your daily credit/debit card sales is withheld until the advance is paid in full. This allows businesses the flexibility to make lower payments during periods when cash flow slows down.
How do I know if I'm eligible for a Merchant Cash Advance?
You’re eligible for a Merchant Cash Advance if:
- Your business processes at least $8,000 a month in credit card sales
- Your business has been processing credit cards for at least 60 days
How is the Capify Business Loan different from a Merchant Cash Advance?
Our Business Loan does not require that your business accept credit/debit cards. The loan is repaid over time with a fixed daily debit amount, as oppose to our Merchant Cash Advance, which is paid back by deducting a small set percentage from your credit/debit card sales until the cash advance is paid in full.
What types of businesses are eligible for a small business loan?
You’re eligible for our Business Loan if:
- You’ve been in business for at least 1 year
- You have $10,000 a month in gross sales
- You have proof of ownership
How is a Capify Business Loan different from a traditional business loan?
Our small business loans are non-traditional, unsecured loans that do not require personal collateral for approval. They are typically shorter term loans and have much higher approval rates.
How does the Capify partners program work?
Partnering with Capify allows you to offer our financing solutions to your small business clients. Becoming a partner allows you to broaden your customer base and serve clients that you may have had to turn down in the past.
To learn more about our partnering with Capify, click here.
What is the difference between a Sales Partner and a Referral Partner?
As a Sales Partner, you walk your clients through the entire sales process, maintaining your close working relationship. When your client receives funding from Capify, you get a more lucrative commission than a Referral partner.
As a Referral Partner, you simply provide us with a lead and our sales team will secure funding for your client. Upon funding, you’ll also earn a competitive commission.
What are the benefits of Capify’s partnership programs?
Partnering with Capify not only brings in new business and extra cash flow, it can help with customer retention by allowing you to offer something new to your existing and prospective clients. Below are some of the benefits of partnering with us:
- Earn competitive commissions
- Broaden your customer base and offer a new product to your clients
- Serve those who you would have had to turn down in the past while deferring all financial risk to Capify
- Access to a support team that provides you with personal customer service
- Access our agent portal for real-time updates on your deals
- Comprehensive orientation sessions
- Ongoing webinars keep you up to date on product changes and innovative sales techniques
Who does Capify partner with?
We form mutually beneficial partnerships with nearly any business that serves the needs of small business clients. We’ve formed partnerships with many of the leading financial institutions and credit card payment processors and their ISOs.
Some of our frequent partners include:
- Software companies
- E-commerce companies
- Web hosting companies
- Equipment leasing brokers
- Mortgage brokers
- Loan brokers
- Community banks
- Credit unions