If you’re a small business owner searching for a loan to improve cash flow, increase working capital, cover payroll, or fund expansion, and you prefer not to pay any upfront fee just to check your approval status, then Laser Capital could be a strong option. The company offers clear and transparent rates and terms. They state any fees in the contract so you do not face any surprises.
In this article, I will explain who Laser Capital is, show that the company is legitimate, outline the loan options they offer, detail the rates and terms you can expect, and help you decide whether Laser Capital Funding is the right choice for your business. Let’s get started.
Laser Capital Company Overview
Laser Capital Funding is a small business loan provider in the US market. They work with private banks and connect small businesses with the right lending partners. The company has a dedicated underwriting team that reviews small business loan applications and helps determine eligibility. If a business qualifies, Laser Capital connects the application to one of their partnered banks for funding. The company is located in New York.
With Laser Capital Funding, small business owners can access funding amounts ranging from around 5,000 dollars up to 5 million dollars. This wide range makes them a suitable option for both small companies needing short term cash flow support and growing businesses looking for larger expansion capital.
Loan Options
Currently, Laser Capital offers three main types of business financing. These include revenue based small business loans, business lines of credit, and short term loans. They also provide collateral based business loans on a smaller scale for companies that are willing to secure the funding with assets.
Rate, Terms and Payback Options
Interest Rate
When planning to take a business loan, the interest rate and repayment term are two of the most important factors. Laser Capital charges a fixed cost on your loan, known as the factor rate, which works similarly to a credit card rate. Generally, the factor rate starts at 1.18 and can go up to 1.48. Compared to other lending institutions, these rates are generally competitive and, in some cases, better, especially if your business has a strong profile.
Payback Term
Most of Laser Capital’s loan options are unsecured, so you usually repay them within a short period ranging from 3 months to 36 months. If you choose to refinance or renew, you can extend the loan after repaying 30 to 40 percent of the original amount, effectively lengthening your repayment term.
Payback Options
Payback options depend on your business performance. Lenders review your cash flow and how much you deposit into your business bank account to determine a repayment schedule you can manage. Laser Capital currently offers daily and weekly repayment options, and in some cases, approved applications may qualify for bi-weekly payments.
Fees
Most lending institutions charge an upfront fee just to underwrite your loan application and determine approval. The advantage of Laser Capital Funding is that they do not charge any upfront fees. This allows you to check your eligibility and approval status without paying anything in advance.
Application Process
If you are planning to apply to Laser Capital Funding for a small business loan, you can visit their website to submit a loan application and see what they offer. You can also email or call them, and their funding managers will guide you through the application process. You only need to complete their one-page loan application with your basic personal and business information, along with your most recent four to six months of business bank statements. At this initial stage, these are the basic requirements to check approval. If you proceed with the funding, they may request additional documents such as your EIN letter and other supporting paperwork.
Requirements
As mentioned earlier, most of Laser Capital Funding’s loan programs are unsecured, which means you do not need to put up any mortgage. To qualify, you only need to meet their basic requirements. Your business should have been operating for at least six months and have an active business bank account. You must be a US or Canadian citizen and have a minimum of 12 thousand dollars in monthly deposits into your business bank account. Additionally, you should not have any default or bankruptcy history in the past.
Pros and Cons
| Pros | Cons |
|---|---|
| Fast access to funding without requiring collateral for most loans | Factor rates can be higher than traditional bank loans for some businesses |
| No upfront fees | Minimum requirements must be met, including six months in business and $12,000 monthly deposits |
| Transparent rates, terms, and clear disclosure of any charges | Businesses with past defaults or bankruptcies may not qualify |
| Wide funding range from $5,000 to $5 million | Loan options may be limited in certain regions or niche industries |
| Suitable for small and growing businesses | |
| Flexible repayment terms with daily, weekly, bi-weekly options |
Final Verdict
Laser Capital Funding can be a good option for small business owners who need fast funding without putting up collateral. The company offers transparent rates and terms, clear disclosure of any fees, and a straightforward application process. Most of their loan programs are unsecured, which makes them accessible for businesses that meet the basic requirements. However, it is important to carefully review the terms and factor rates to ensure they fit your business needs. If you are looking for a reliable lender with no upfront fees and clear funding options in the US or Canada, Laser Capital Funding is worth considering.
