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OnTap Capital: Overview

Money is always of top concern among small businesses. Whether it’s getting your hands on the money to start your business or grow operations, or to tie you over when cash flow is a bit tight, money issues are always top of mind for entrepreneurs. But with a service like OnTap Capital, this is one less thing to worry about. 

OnTap Capital is a private lender that provides a range of flexible financial options for businesses, including cash advances, bridge financing, property loans, and lines of credit. Businesses can focus on serving their clients without worrying about cash flow.

With OnTap Capital, businesses can access necessary capital within 24 hours to build and grow their operations. The firm works with all types of entrepreneurs, including those who may struggle to meet the strict financing criteria from traditional banks. 

Our Thoughts On OnTap Capital

Who Is OnTap Capital Best For?– Business owners that need quick cash to bridge the gap between long-term financing solutions
– Business owners who struggle to get approved for financing with traditional lenders
– Business owners looking for a customized financing solution at competitive rates
What We Like About OnTap Capital – Easy online application
– Fast funding
– Less stringent loan criteria
– Available across Canada
– Multiple loan products- Competitive rates
– Flexible terms
What We Don’t Like About OnTap Capital – Cash advances may not be suitable for all businesses 

What Does OnTap Capital Offer?

OnTap Capital offers the following financing options for small to medium-sized businesses:

Merchant Cash Advances

A merchant cash advance provides quick access to funds needed to cover various expenses when cash flow is low. These advances are suitable for businesses that expect future payments from clients. With a cash advance, you’ll receive a lump sum of money in exchange for a percentage of future sales or invoices. 

A merchant cash advance is an alternative financing option that businesses with lower credit scores can use to fund their operations. Instead of using your company’s credit score, OnTap Capital will assess your creditworthiness by looking at several factors, such as the money your business collects via bank statements.

If you choose the merchant cash advance route, you can receive funding within 24 hours. Then, you can repay the advance with a fixed amount for up to a year.

Bridge Financing

Bridge financing is a short-term option that businesses may use to cover costs before future income is expected. In other words, this type of financing is used to “bridge the gap” between financial events. Until your business works out long-term financing, bridge financing may be considered as an interim solution.

Businesses can use bridge financing to fund real estate deals, business acquisitions, investment opportunities, and equipment purchases, or to support periods of low cash flow.  

Property Loans And Mortgages

Businesses looking to acquire property to run their operations typically require financing assistance to complete these transactions. OnTap Capital offers flexible secured term property loans and mortgages, with funding provided in as little as 4 to 7 days. Such quick funding allows businesses to expedite the real estate transaction process so they can get their operations up and running with little delay.

Lines Of Credit

With a line of credit, businesses will have ongoing access to funds as needed. Businesses will be approved for a credit account with a specific credit limit, which they can withdraw from at any time. Interest is only charged on withdrawn funds, and repayments can be made on a flexible basis. 

With a line of credit, there’s no need to apply for multiple loans when the need for extra money crops up. Instead, a line of credit from OnTap Capital will provide immediate access to much-needed funds for businesses to use to build and grow their operations.

OnTap Capital: Snapshot

Products Offered– Merchant cash advances
– Bridge financing
– Secured property loans
– Lines of credit
Loan Amount$10,000 – $2 million
Interest Rate10%+
Loan TermsUp to 36 months
Funding Time24 hours
Funding MethodsWire transfer, ACH, EFT, and e-transfer
Repayment Options– Daily
– Weekly
– Bi-weekly
Eligibility Requirements– Own a business for at least 1 year
– Minimum revenue of $25,000/month
AvailabilityAll provinces

How To Qualify With OnTap Capital

To qualify for financing with OnTap Capital, you’ll need to meet the following requirements:

  • Own a business
  • Business must be operational for at least 1 year
  • Minimum revenue of $25,000 per month

Documents Required 

  • Signed and dated application form
  • Last 3 bank statements

How To Apply With OnTap Capital

The entire loan application process with OnTap Capital is done online and via email. Follow these steps to get started:

Step 1: Apply Online

To start the process, click the “Apply Now” button on the top right corner of the home page.

Complete the simple online application to pre-qualify for a financing option. You’ll need to provide the following information:

  • Your full name
  • Email address
  • Phone number
  • Company name
  • Number of years in operation
  • Monthly company revenue
  • Funding amount requested

Once you’ve completed the form, click “Submit”.

Step 2: Connect With A Representative

One of OnTap Capital’s funding experts will contact you to verify the information you entered on your application form. You’ll also need to email your last 3 business bank statements, which will help OnTap Capital calculate an accurate quote for you. 

You can complete your application online or call OnTap Capital at 929-388-4737, and a representative will be able to help you.

Step 3: Get Funded

After you receive a quote, you’ll need to fill out and sign some forms. Once OnTap Capital receives these forms, verifies your information, and approves your application, your request will be processed within an hour. 

What We Like About OnTap Capital

  • Easy online application. Fill out an application form online to prequalify for one of OnTap Capital’s funding solutions.
  • Fast funding. Funds are available within 24 hours of application via wire transfer, ACH, EFT, or e-transfer. 
  • Less stringent loan criteria. OnTap Capital works with business owners with less-than-perfect credit who can’t qualify for business financing with a traditional lender. 
  • Available across Canada. OnTap Capital helps business owners in all provinces.
  • Multiple loan products. Choose from several financing solutions for small businesses, including merchant cash advances, bridge financing, property loans, and lines of credit.  
  • Competitive rates. OnTap Capital customizes financing solutions for businesses to ensure rates are as low as possible.  
  • Flexible terms. Choose between daily, weekly or bi-weekly repayments.

What We Think You Should Watch Out For

  • Cash advance payments may be difficult to budget. Since repayments of cash advances are based on revenue generated, payments can fluctuate. The lack of fixed payments may not be suitable for business owners who prefer more predictability in payments. 

Is OnTap Capital Safe?

OnTap Capital guarantees the confidentiality of all information provided. All personal and financial data transmitted online is encrypted for utmost security. 

How Does OnTap Capital Compare To Helium Loans?

OnTap CapitalHelium Loans
Loan Amounts$10,000 – $2 million$5,000 – $50,000
Interest Rates10%+6.99% – 46.99%
Loan TermsUp to 36 months6 – 36 months
Funding Time24 hoursN/A
Provinces AvailableAllAll except Quebec

Final Thoughts

OnTap Capital is a great financial resource for small businesses that need quick cash. These financing solutions are particularly helpful for those who fall short of the loan qualifications required by banks and other traditional lenders. If you need funding to help build or grow your business, consider a loan option from OnTap Capital.

Frequently Asked Questions

How long does the application and funding process take with OnTap Capital?

OnTap Capital promises prompt responses following loan applications. Requests are processed within an hour. The entire process from application to funding takes less than 24 hours.

Does OnTap Capital charge higher interest rates than banks?

Every lender offers different interest rates. Private lenders like OnTap Capital may assume more risks, particularly with lower-credit borrowers, but they work with each individual business owner to come up with a personalized financing solution that is as affordable as possible.

Can I apply another way besides online?

Yes, OnTap Capital can help you with the application process over the phone by calling 929-388-4737.

How do I repay what I borrow?

Repayments depend on the type of financing you apply for. OnTap Capital will give you the details of how to repay what you borrow in their offer letter.

Services & Products

OnTap Capital Offered Services

Business Financing

Loan Range
  • $10,000 - $2,000,000
Interest Rate
  • 10%+
Terms (Months)
  • Up to 36
Funding Time
  • 24 hours
Funding Method
  • Wire transfer
  • ACH
  • EFT
  • e-Transfer
Repayment Options
  • Daily
  • Weekly
  • Bi-weekly
Eligibility
  • Owns a business
Requirements & Documents
  • Minimum time in business 1 year
  • Minimum revenue $25,000 per month
  • Signed and dated application
  • Month to date after the 14th of the month
  • Last 3-month bank statements

Reviews

Reviews & Rating

See what others have to say about OnTap Capital

Needed a Loan fast, gave them a call, and was able to get funded very quickly. Thanks, Ontap for the help!

Have you had any experience with this provider? Let others know!


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