Capify

Capify eligibility and required documents

Capify’s published entry criteria require an active ABN, six months’ trading, monthly turnover of at least $10,000 and an adult applicant who is an Australian citizen or permanent resident. Meeting these thresholds allows assessment; it does not establish affordability or approval.

For borrowing below $150,000, its general FAQ requests 12 months of trading-account statements, both sides of the owner’s ID and a statement cover page identifying the account. Confirm requirements for $150,000 or more. Ownership evidence, landlord details and references may also be requested.

Assess repayment capacity after wages, tax, rent, suppliers and existing debts. Turnover is revenue, not money available to service a loan.

When a Capify business loan may fit

Our assessment is that this structure is better suited to stock purchases or short cash-flow gaps with a credible repayment source than expenditure whose returns may take years. Frequent deductions can become difficult when customers pay invoices irregularly.

For recurring funding needs, compare an overdraft or business line of credit. For machinery, compare asset finance with a term aligned to its useful life. Review other business finance options using the same net funding amount, repayment period and total cost.

How Capify business loans work

Enquiry, assessment and agreement

The online eligibility form asks about the requested amount, trading history, turnover, contact details and homeownership. Capify states that this initial check does not affect your credit score. A subsequent application involves supporting documents and credit assessment.

Before accepting, obtain the contracting lender’s name, net funds released, full repayment schedule and guarantee terms. Capify’s privacy policy explains that a director credit search may appear as a hard enquiry and affect personal credit scores.

Approval and funding times

Capify advertises funding in as little as 24 hours. Its broker guidance makes timing dependent on complexity and receiving the required paperwork. Treat this as a possible turnaround, rather than a deadline for paying a supplier.

Public product descriptions remain inconsistent: some FAQs describe only unsecured lending, although the current website advertises secured loans too. The broker channel also lists longer terms than the general FAQ. Obtain written confirmation of the product, borrowing limit and term available through your application route.

Questions to ask before accepting Capify finance

• How much reaches my bank account after deductions, and what is the total amount payable?
• What factor rate, equivalent annualised cost and separate fees apply?
• Are deductions taken on business days or calendar days, and what happens after a failed debit?
• What does the personal guarantee cover, and does the agreement create any security interest?
• What would settlement cost after three or six months, including any rebate of remaining charges?
• Does a broker arrangement change my pricing, and is any insurance compulsory?

Capify business loan advantages and limitations

• Initial screening: The eligibility check offers a way to explore availability before a formal credit enquiry.
• Unsecured option: Advertised without asset collateral, although the personal guarantee creates separate exposure for the owner.
• Early repayment: Capify advertises no early repayment fee; the actual saving still depends on its settlement calculation.
• Cash-flow pressure: Daily payments leave less flexibility when receipts arrive late.
• Comparison difficulty: Conflicting product limits and incomplete public pricing make a written quotation necessary.

Capify rates, fees and total borrowing cost

Capify describes risk-based factor pricing in its general FAQ. A factor is a multiplier used to determine payback; it is not an annual percentage rate. Its value cannot be compared directly with a bank’s annual interest rate.

The initial enquiry is free, but the FAQ identifies origination and processing fees for a full application. Their amounts and when they become payable are not specified there. Request an itemised schedule covering establishment, ongoing, dishonour, default and recovery charges where applicable.

Capify’s website advertises no early repayment fees. That does not establish whether early settlement reduces the remaining financing charge. Ask for a payout calculation rather than assuming a saving.

No compulsory insurance premium or policy conditions were identified in the inspected product material. Confirm whether your offer requires cover; if it does, include premiums in the comparison and check exclusions.

Illustration: a factor rate is not an APR

Illustration only, not a Capify quote: Assume a $20,000 advance, a factor of 1.20 and 120 equal repayments over six months. Base payback would be $24,000, comprising the advance plus a $4,000 financing charge. Each repayment would be $200. Assuming 20 repayment days per month, that represents $4,000 monthly.

This illustration excludes separate fees, insurance and default costs. The 20% financing charge is not a 20% annual interest rate. Actual cost depends on the cash received, repayment dates and additional charges.

Is a Capify business loan worth considering?

Capify’s strongest feature is the combination of an unsecured option and potentially quick funding. Its main limitation is that the public information does not establish a consistent, fully priced offer. Compare total dollars paid against net cash received, then test the scheduled deductions against a weak trading month. Speed has value only if the resulting commitment remains affordable.

Capify business loan FAQs

How do I compare Capify’s factor rate with another lender’s interest rate?

Capify describes personalised factor pricing: a multiplier used to calculate payback, rather than an annual interest rate. Compare offers using the same net funding amount and repayment period, including origination and processing fees. Request an annualised cost calculation that accounts for repayment dates. A lower factor can still represent more expensive borrowing if repayment happens much faster. Compare business loan alternatives using the written repayment schedules.

Can a business with only six months’ trading qualify for Capify?

Potentially. Capify’s entry criteria include six months’ trading, an active ABN and at least $10,000 monthly turnover, subject to credit assessment. However, its general FAQ requests 12 months of statements for loans below $150,000. If you have traded for six to eleven months, confirm which records it will accept before proceeding. The published information does not explain that mismatch.

Can I compare a Capify offer without affecting my personal credit score?

Capify advertises an initial eligibility check without affecting your credit score. Its privacy policy says a subsequent director credit search may be recorded as a hard enquiry and affect your personal score. Ask whether the figures provided are indicative or credit-approved, and when the search occurs. This distinction matters when comparing several lenders: an initial estimate may change after assessment.

Does Capify’s unsecured loan protect my personal assets?

Unsecured does not mean the owner has no personal liability. Capify’s general FAQ requires a personal guarantee from the majority owner. Compare the guarantee’s scope, any liability cap and the circumstances allowing recovery from you, rather than comparing lenders solely by whether they require collateral. ASIC’s Moneysmart guidance explains why independent advice matters before guaranteeing business debt.

Can I apply without giving Capify online access to my bank account?

Yes. Capify says it accepts manually supplied statements, although assessment may take longer. This changes how records are supplied; it does not remove the financial checks. Its privacy policy describes using Proviso to retrieve banking data. If comparing application routes, ask which documents are needed and whether manual submission changes the expected funding date.

Will extra repayments or early settlement reduce my Capify borrowing cost?

Capify’s customer FAQ permits additional lump-sum repayments, and its website advertises no early repayment fee. Neither statement establishes how much of the remaining financing charge would be removed. Request a written settlement example for your expected repayment date. If early repayment is likely, compare that payout amount with competing offers, alongside their full-term cost.

Do Capify repayments fall when business sales slow down?

The small business loan is described as an agreed payback amount divided into daily repayments. Do not assume those deductions fall automatically with sales. Capify separately describes a merchant cash advance linked to a percentage of card receipts; confirm its availability and terms separately. For a seasonal business, compare the required deductions during a quiet month, not just the average monthly cost.

Can I borrow from Capify if I already have another business loan?

Possibly. Capify’s general FAQ says competing alternative-lender loans must be more than 50% repaid and paid out before additional funding is provided. It treats bank loans differently. Confirm how this applies to your lender. For refinancing, compare the cash remaining after the existing loan is settled and fees are deducted; the approved loan amount may substantially exceed the new working capital you receive.

What repayment support and complaints process does Capify provide?

Contact Capify on 1300 760 930 to request repayment assistance. Ask whether an arrangement changes deductions, extends the term or adds charges, and obtain the answer in writing. The inspected pages do not establish a standard payment-holiday entitlement.

For unresolved concerns, use its internal complaints process. Capify targets resolution within 7–14 business days, although some cases take longer. Request the written outcome and details of any external escalation route applicable to your contracting lender.