A global conglomerate of four companies, with a head office in New York, Capify (formerly AUSvance) has been operating in Australia since 2008. Capify are the pioneers in unsecured alternative business finance and has supported small business since 2002 with over $700 million globally.
The only alternative finance lender to have undergone the full credit cycle, Capify continues to be the industry leader having seven years of historical data, extensive knowledge of the Australian SME market and key industries to draw upon. Capify prides itself on being one of the responsible lenders in the alternative finance market, and over the course of its history, has collected invaluable data which forms an integral part of its decision process. Having experienced the GFC of 2009, Capify can confidentially say that its team is continuously learning and modifying its assessment and approval criteria in line with history and current market conditions. Its results in the number of businesses it has helped continues to be a testament to the credit model it utilises.
Capify was the first company to introduce Merchant Cash Advance Loans in 2008, followed by the introduction of unsecured business loans in 2012. Continuing its reputation as the pioneers, earlier this year Capify introduced its Apply Online product, which allows a business owner to apply for finance 24/7 and receive a funding decision within 60 seconds.
“43 per cent of SME owners apply for loans outside of normal trading hours, so having an apply online system with a response in under a minute works really well for our customers,” says John de Bree, Managing Director, Capify Australia.
Through its two main lending products, Capify has helped thousands of Australian business owners achieving a 90 per cent customer satisfaction rate via Feefo.
“Our customers seek out alternative finance for a variety of reasons, but the main ones are cash flow (paying bills, BAS statements and paying suppliers), purchasing bulk stock and growth opportunities which may include buying a new premise, hiring extra or specialist staff, or for expansion plans.”
In just the past two years Capify has grown 400 per cent, and this growth is largely a result of its apply online engine, and being able to provide funding within one to three days. As a global company, Capify also has access to greater working capital and can lend up to $400,000 unsecured.
“Through our seven years of experience in the Australian market, we have also found that SME owners are becoming more aware and educated about the alternative finance options available to them and realise that they’re not limited to traditional finance options.
“We have customers who also take out an alternative finance loan for renovations or refurbishment, or if they want to upgrade their e-commerce platform or undertake a marketing campaign. The reasons may be varied, but we enjoy a significant level of repeat business as we’re able to lend up to $400,000 unsecured and we can provide funds within a couple of days,” explains de Bree.
Merchant Cash Advance
An innovative alternative to traditional finance, Capify was the first to market with this innovative product in 2008.
A Merchant Cash Advance is designed to match the cash flow of a business. Rather than fixed daily repayments, a small percentage of credit card and EFTPOS sales is repaid daily for the term of the advance. A Merchant Cash Advance provides a business with the flexibility to make lower repayments during slower periods.
The benefits of a Merchant Cash Advance include:
Unsecured funds up to $400k
Flexible repayment options
Terms from 3 to 12 months
60 second online application decision
Typically no financials required
Business Loans
A Capify business loan is a simple financing solution that provides a business owner with the working capital he/she needs for their business. With high approvals and funding in days, it is the perfect loan for business owners looking for flexibility.
Instead of monthly payments, the Capify business loan has a fixed, daily repayment schedule allowing a business owner to better manage their cash flow and budget more effectively.
Capify’s ‘Flex’ program is tailored to suit seasonal businesses; it can be adjusted to the highs and lows of a business’ cash flow. BFM
For further information visit
www.capify.com.au.
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