Selecting the right financing partner is critical for business growth. In this Uplyft Capital review, we’ll analyze the platform’s offerings, credibility, and overall impact on your financial strategy. Read on to make an informed decision about whether Uplyft Capital aligns with your business objectives.
Understanding Uplyft Capital
Uplyft Capital is a financial services platform that provides short-term working capital solutions for businesses. Leveraging advanced technology and streamlined approval processes, the platform makes quick, flexible financing options available to meet the evolving needs of modern enterprises.
To apply for a loan with Uplyft Capital, you must submit key business details such as revenue, start date, and credit score. The platform then automatically evaluates your eligibility for various business loan options, such as the following:
- Equipment Financing: Through this option, businesses can purchase or lease essential machinery, vehicles, or technology. This financial arrangement allows companies to preserve working capital and maintain cash flow while acquiring the assets necessary for operational efficiency and growth. The interest rate on this loan type ranges from 9% to 40%.
- SBA Loan: Only businesses at least two years old can apply for this loan. If an application is successful, the business could be funded with up to $5 million at an interest rate of 2.25% to 2.75%, repayable over a relatively long period.
- Hard Money Business Loan: This financing option is secured by real estate or other tangible assets. When considering applications for this loan type, Uplyft Capital prioritizes the value of the asset used as collateral over the creditworthiness of the business. However, it usually comes with higher interest rates.
- Disaster Relief Loan: A disaster relief loan is designed to assist businesses in recovering from unforeseen catastrophic events such as natural disasters or pandemics. These loans come with favorable terms, including maximum interest rate of 4% and repayment periods spanning up to 30 years.
- 401K Business Financing: Uplyft Capital suggests using this funding option for side businesses or additional projects. In this scenario, the amount you can borrow is determined by your existing 401K savings. Typically, the loan amount will be half your 401K savings or $50,000, whichever is lower.
Features of Uplyft Capital
- Direct Funding: The company offers four distinct lending programs: Starter, Standard, Premier, and Premier Plus. These programs vary in terms of loan amounts, repayment conditions, and interest rates. For those new to Uplyft Capital, it is advisable, to begin with the Starter program, which can provide up to $30,000 in funding. This allows you to evaluate the program’s effectiveness for your business before considering larger loan amounts.
- Marketplace: If you prefer not to commit to any of Uplyft Capital’s in-house funding programs, you can explore their marketplace. Here, Uplyft Capital partners with third-party lenders like Giggle Finance to process and offer various loan options.
- Sector-Specific Loans: Uplyft Capital organizes its loan offerings based on different business sectors. This means you can find loans tailored for specific industries like construction, cleaning services, medical practices, and legal practices, among others.
Is Uplyft Capital Worth It?
After conducting a thorough Uplyft Capital review, we’re convinced the firm is worth it. Here’s why:
- Prompt Loan Approval: If Uplyft Capital chooses to approve your loan, you can expect the funds to be available in as little as 24 hours, or at most, within two weeks. The time frame depends on your loan amount.
- Flexible Credit Requirements: A low credit score won’t automatically disqualify you at Uplyft Capital. If your business shows positive cash flow, your application will still be considered favorably.
- Efficient Application Procedure: Uplyft Capital simplifies the usually tedious application process. Instead of filling out extensive paperwork, you’ll only need to answer a few essential questions, allowing you to save time and effort.
- Wide-Ranging Business Support: Uplyft Capital offers loans to businesses across various sectors. This means that your loan application stands a good chance of being approved, regardless of your industry.
- Financial Oversight: Uplyft Capital’s platform allows you to track your loan’s expenditure, remaining balance easily, and repayment schedule, providing a transparent overview of your financial commitments.
Uplyft Capital vs. Percent
Percent is a financial technology platform mainly for democratizing access to alternative investments, often focusing on asset-backed securities. However, it also disburses loans to borrowers who are chosen for borrowing because they meet specific standards. Percent employs a more rigorous borrower selection process than Uplyft Capital, involving a comprehensive evaluation of factors such as management quality, industry expertise, and financial and operational stability. Upon comparative analysis, Uplyft Capital is the more efficient for a streamlined borrowing experience.
Uplyft Capital Reviews from Users
In addition to having a 4.7 Google rating and 4.8 on Trustpilot, this firm has rave reviews from most of its previous clients.
A recent Uplyft Capital review on Google says, “Alan and the team at Uplyft made my first experience with getting quick funding for my business very easy. From the first initial inquiry to the final funding directly to my bank, Alan has made what was a difficult process in securing funds to be easy and quick. Why can’t other businesses deliver like Alan and Uplyft?”
One Uplyft Capital customer who got a loan despite their bad credit score disclosed, “Business was taking a hit financially due to stretching thin. After several denials from banks, loan officers & underwriters, Uplyft somehow got in touch with me & I didn’t think much of it till I was told I was granted a capital of 10 grand. I thought it was too good to be true because I had bad credit … Just like a joke, my broker — Uplyft Capital, made it swift & easy.”
Uplyft Capital Review: Final Verdict
Uplyft Capital is a distinguished private loan firm committed to offering tailored financial solutions. It provides a range of loan types and works diligently to identify the most appropriate financing option for your specific needs. Click here to apply to Uplyft Capital.