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Find A LenderNewCo Capital Group: Overview
NewCo Capital Group is an alternative finance firm specializing in revenue-based financing for small and midsize businesses. Founded in 2020, the company has provided $2.2 billion to over 55,000 businesses, and counting.
NewCo Capital Group is committed to offering quick and straightforward access to working capital, helping businesses scale, grow and create jobs. The company makes use of cutting-edge technology and boasts industry experience to stand out and deliver ongoing value to customers. They are also a member of the Canadian Lenders Association which means they are committed to upholding best practices in the alternative lending industry.
Our Verdict
| Who is NewCo Capital Group best for? | Best for borrowers who: – Are small or medium-size business owners – Need working capital – Are looking to scale – Need fast funding |
| What we like about NewCo Capital Group | – No hard credit checks – Bad credit accepted – Fast funding in as little as 6-12 hours after approval – Minimal documentation required |
| What we don’t like about NewCo Capital Group | – Not suitable for brand-new businesses – Must generate at least $20,000/month to qualify |
What Does NewCo Capital Group Offer?
NewCo specifically offers revenue-based financing and a revolving line of capital for small to medium-sized businesses.
| Revenue-Based Financing | Line Of Credit | |
| Advance Amounts | – Up to $1 million in Canada – Up to $7 million in the U.S. | Up to $1 million |
| Advance Terms | 12 months | 12 month draw period (revolving capital) |
| Repayment Options | – Daily – Weekly | Flexible; businesses can make payments on a customized payment schedule |
| Funding Time | Within 6 – 12 hours after approval | Within 6 – 12 hours after approval |
| Funding Method | Wire transfer | Wire transfer |
| Availability | All provinces | All provinces |
Revenue-Based Financing
Revenue-based financing gives businesses access to working capital in exchange for a fixed percentage of their monthly gross revenue. Payments adjust with your business’s revenue, ensuring they remain manageable during slower periods and flexible as your business changes.
This makes revenue-based financing ideal for managing cash flow, covering expenses, or investing, based on your business’s revenues at any given time.
Revenue Based Financing Benefits
- Fast Access To Capital: Revenue-based financing typically offers quicker funding compared to traditional loans, with less paperwork and fewer hoops to jump through.
- Flexible Repayment Terms: Payments scale with your business’s revenue, so you’re never tied to set monthly payments.
- Bad Credit Accepted: Approval is based more on revenue performance than your credit score, making it accessible to those with poor credit history.
- Supports Business Growth: Revenue-based financing is great for scaling businesses with predictable revenue streams.
- Don’t Wait For Customers To Pay: Leverage your unpaid invoices instead of waiting for customers to pay.
Line of Capital
NewCo’s Line of Capital is a type of receivables-based financing solution that provides businesses with quick access to working capital whenever it’s needed. Unlike traditional revenue-based financing that provides a one-time lump sum, a line of capital lets you draw as much or as little money as needed, up to a pre-approved limit. That means you can access capital as your business needs it, without having to apply and wait for another loan approval.
Once your account is set up, your Drawdown Period begins, during which time you can access funds through NewCo’s secure portal. Each withdrawal reduces your available balance and initiates a repayment cycle, based on your business’s financial performance.
NewCo’s Line of Capital Benefits
- Early Payoff: Repay what you borrow any time without incurring early repayment penalty fees.
- Instant Draw Via Secured Portal: Withdraw the needed funds securely through NewCo’s digital portal.
- Revolving Access To Funds: Draw any amount from your account up to the set limit, and once it’s repaid, you can re-borrow again and again as needed.
Qualifying With NewCo Capital Group
Qualifying for financing with NewCo is relatively straightforward. All you need is the following:
| Eligibility Requirements | – 6 months in business – $20,000 monthly minimum revenue – 550+ credit score – Active business account |
| Documentation Required | – 3 recent bank statements, or – Completion of a Flinks link for instant bank verification (IBV) |
Can I Still Qualify With Bad Credit?
Yes, you can still get financing from NewCo even if you have poor credit. Rather than focusing on your credit score, NewCo places more weight on other factors, such as your business’s cash flow and revenue.
Their financing solutions are flexible and can be customized to fit in with your revenue cycles. Rather than having to meet hard due dates, you can repay on terms that are more comfortable and suitable for your business.
How To Apply With NewCo Capital Group
To apply for financing with NewCo, follow these steps:
Step 1: Choose Your Country. You can apply from Canada or the U.S.
Step 2: Determine How Much You Need. Choose your advance amount from $10,000 to $1 million+.
Step 3: Enter Your Monthly Revenue & Time In Business. Enter the monthly revenue your company generates, as well as how long your business has been in operation.
Step 4: Provide Business Information. Provide information about your business, including what industry you’re in and what you need the funds for.
Step 5: Enter Your Contact Information. Provide your contact information, including your name, email address, and phone number.
Step 6: Provide Documentation. Depending on your situation, you may be asked for certain types of documentation to demonstrate your business’s revenue and age.
Step 7: Wait For Application Review & Approval. Based on the information you provide, you can get approval in as little as 24 – 48 hours and funding within 6-12 hours after approval.
What We Like About NewCo Capital Group
NewCo offers plenty of perks, including the following:
- Minimal Documentation Required: You don’t need to provide extensive documentation to apply for working capital financing.
- No Hard Credit Checks: You won’t have to undergo a hard credit inquiry when applying, so your credit score won’t be affected.
- Fast Funding: Get access to money quickly after completing an application and approval, in as little as 6-12 hours.
- Bad Credit Accepted: You can get approved for financing with bad credit as low as 550.
What We Think You Should Watch Out For
As helpful as NewCo may be, there are a couple of potential hurdles to consider before applying for financing:
- Not Suitable For New Businesses: You must be in business for at least 6 months to be eligible for financing.
- Minimum Revenue Required: Your business must generate at least $20,000/month to qualify.
Is NewCo Capital Group Safe?
Yes, NewCo seems to be a safe and legitimate firm. Customers rate the company highly on Trustpilot, with a 4.8/5 rating from over 600 reviews and customers praising their speed, professionalism, and transparency.
NewCo continues to expand and has been featured in prominent and respected news platforms, including the likes of Business Insider, PR Newswire, and Seeking Alpha.
What Do Consumers Think Of NewCo Capital Group?
It’s always a good idea to see what others have to say about companies before working with them. Online reviews appear to be limited to Trustpilot, though the company does have a growing presence on social media:
| Trustpilot | 4.8/5 stars out of 628 reviews |
| Social Media Presence | – IG: 2,487 followers – Facebook: 346 followers – LinkedIn: 5K followers |
How Does NewCo Compare To Merchant Growth?
Other business lenders are available to Canadian business owners, including Merchant Growth. So how does NewCo compare to Merchant Growth?
| NewCo | Merchant Growth | |
| Financing Options | – Revenue-based financing – Line of capital | – Term financing – Lines of credit – E-Commerce financing |
| Amounts | $10,000 – $1 million (in Canada) | $5,000 – $800,000 |
| Terms | – Revenue-based financing: 12 months- Line of capital: Revolving (12-month draw period) | 6 – 24 months |
| Repayment Options | – Revenue-based financing: Daily & weekly – Line of capital: Flexible, customized repayment schedule | – Daily – Weekly |
| Funding Time | Within 6 – 12 hours after approval | 24 hours |
| Availability | All provinces | All across Canada |
| Eligibility | – Own a business for a minimum of 6 months – Minimum revenue of $20,000/month | – Own a business for a minimum of 6 months – Minimum revenue of $10,000/month |
Final Thoughts
NewCo Capital Group is committed to fast, flexible funding for businesses in Canada. With continued growth and dedication to innovation and funding speed, the company continues to be an attractive option for small and medium-sized businesses in terms of alternative finance. If you’re looking for a unique revenue-based financing option, NewCo is worth considering.
