Capital on Tap is bringing small business lending into the 21st century with its credit card built specifically for the small business market.
Co-founded in the interest of making working capital easier for small businesses to access, Capital on Tap’s understanding of the challenges faced by small businesses comes from experience. The time-consuming struggles of getting funding from traditional lenders has been modernised by a process that provides a decision after a simple two-minute application.
Small businesses can now apply online and receive instant credit decisions for up to £50,000. This innovative proposition has enabled the UK-based FinTech to lend over £1bn to more than 65,000 businesses across the UK.
Businesses that need access to funding can withdraw money immediately into their bank account - while also receiving up to 10 credit cards by first-class delivery - making the old-fashioned, lengthy process of business loans a thing of the past.
The application for Capital on Tap credit cards has no hidden fees or unexpected extra charges. With a bonus of zero set-up or account fees, no FX charges and free supplementary cards, if the account is paid in full each month, no interest is charged on card spend.
Many of Capital on Tap’s customers never pay a single penny and borrow up to £50,000 interest-free for up to 56 days.
In addition, Capital on Tap include unparalleled benefits through a range of partners, with customer loyalty schemes, additional revenue, share of wallet data and rewards. Users of the platform have accessibility to the On-Tap reward system, where businesses can earn uncapped points on all spending, which can be redeemed for Avios and cashback.
Capital on Tap has grown from a three-person start-up to a UK FinTech with over 100 employees in just seven years. By experiencing the challenges faced by small businesses, the lender’s platform offers instant, easy lending solutions to help customers, extending to those in remote regions of the UK that aren’t served by other lenders.
David Luck, CEO at Capital on Tap, commented: “We understand the modern challenges that small businesses face in acquiring, funding and running a business. I co-founded Capital on Tap to make it easier to run a business and access working capital.
“Until now, business banking has been old-fashioned and can be a slow process – especially when you compare it to the evolution that the world of consumer banking has seen in recent years. Capital on Tap is set to change this by allowing companies instant access to funding, real-time spending data as well perks and rewards that appeal to modern businesses.”
For more information, visit the Capital on Tap website: https://capitalontap.com/