Everything You Need To Know:
Who Are Capital On Tap? Capital On Tap Business Mastercard
Just like us here at SME Loans, Capital On Tap is on a mission to help small businesses not only survive, but thrive. Since being founded in 2012, Capital On Tap has provided over £845million in funding to over 50,000 businesses across the UK.
‘We believe small business owners are the foundation for growth in our economy, and yet today’s banking system has left them behind’
Offering both Business Mastercards and loan products, Capital On Tap boasts over 4,000 reviews on Trustpilot. What’s more, 92% of the reviews are rated ‘5* excellent’.
CEO David Luck and the team at Capital On Tap work hard to make accessing capital as quick, easy and manageable for busy business owners as possible. They believe that business funding shouldn’t be complicated or time-consuming, so there’s no surprise that they’ve managed to help so many businesses in just 7 years.
How Does Capital On Tap Work? Is My Business Eligible?
Using the Capital On Tap Business Mastercard, you as a business owner can choose to spend on the go OR transfer the available balance directly into your business bank account using the online portal provided.
The online portal enables you to access and manage both your credit and Business Mastercard. Fully registered by the Financial Conduct Authority, Capital On Tap clients receive quarterly account reviews to ensure that their funding line grows in sync with their business.
Am I Eligible?
Step 1: In order to check whether your business is eligible for a Capital On Tap Business Mastercard, head over to their apply page and fill out their 2 minute application. The application will ask for:
- Basic personal and business information and details
- Registered number as a limited company
(Please note that making an application will not affect or negatively impact your personal or business credit rating).
Step 2: In just minutes you will receive a decision about your funding options, and once a decision has been made you can go on to sign up for a Capital On Tap account.
Step 3: Receive your Business Mastercard within just 4 business days and be able to access up to £50,000 in funding online instantly.
What Are The Criteria For A Capital On Tap Account?
The requirements for successful application with Capital On Tap are:
- You are based and trading in the UK
- You have at least 12 months trading history
- Your business’ monthly turnover is at least £2,000
- You have no unsatisfied CCJ’s against yourself or the business 12 months prior to applying
How Much Does It Cost To Sign Up?
Similar to SME Loans, with Capital On Tap there are no activation, monthly or yearly fees attached to the account you set up. Unlike other alternative finance providers, Capital On Tap ensures no FX fees, ATM charges or monthly fees to use online.
On Tap Club: There is also an option to upgrade your account to earn 1% uncapped cashback on all card spends. This membership is a £249 upfront annual fee.
Flexible Interest: Capital On Tap clients can benefit from receiving up to 56 days of interest free on card purchases, providing each monthly balance is paid off in full.