Seek Capital Review

Seek Capital is a Los Angeles-based online loan aggregator service founded in 2014. The company links both personal and business borrowers to partners in its lender network. Eligible business borrowers can use the site to source and finalize loans, lines of credit, credit cards, insurance, and many other financial products and solutions.

According to third-party reviewers, Seek Capital has a 92% approval rate on its applications, making it one of the most inclusive sources of loans and business capital in the financial services industry. Its business services are specifically designed to meet the needs of entrepreneurs launching start-ups and small business owners in need of extra capital.

Financial Solutions Available through Seek Capital

Seek Capital maintains partnerships with many top financial institutions and alternative lenders, including:

As of October 2020, the company has linked more than 16,000 borrowers to $400 million in loan capital. Seek Capital enables users to source, compare, apply for, and obtain funding and financial products in the following categories:

Seek Capital also links customers to business insurance providers and opportunities for viability assessments. These assessments evaluate your borrowing and financing needs to deliver specific, accurate recommendations on how to reach your funding requirements.

Typical Terms

Seek Capital’s website does not offer any specifics about the maximum limits, interest rates, factor rates, repayment terms, and other details attached to supported loans and financial products. This is because Seek Capital does not actually issue loans and financial products itself. Instead, it acts as an intermediary, linking borrowers to the funding solutions that best match their needs.

As such, the end lenders and financial institutions in the Seek Capital network set their own details and standards. However, high-level overviews of the company’s services updated in August 2020 indicate the following general ranges:

Some of Seek Capital’s partner lenders offer generous financing terms that include introductory APRs for 12 months at rates as low as 0%. These offers represent a fantastic way to access cheap capital if you qualify.

However, you should also keep in mind that Seek Capital usually applies an origination fee of up to 9.99% anytime you use the network to finalize a funding option. The company is willing to take a “second position” to other debts, but Seek Financial also typically charges application fees and termination fees of $495 each.

The application fee will apply if you decide to submit a formal application, while the termination fee will come due if you are approved for a particular loan or financial product but decide not to accept the offer.

What Are Seek Capital’s Eligibility Standards?

As with loan amounts and terms, eligibility guidelines vary depending on factors including the type of loan you want, the amount of money you’re seeking, and particulars of your borrower profile. The following list offers a general idea of the requirements you will need to meet in order access various types of loans and financial products supported by Seek Capital:

Startup loans:

Term loans:

Eligibility standards for commercial mortgages, business lines of credit, and business credit cards show a great deal of variation among partner lenders in the Seek Capital network. However, Seek Capital has a track record of matching 92% of borrowers with financial solutions meeting their needs, so you are very likely to find yourself qualified for one or more options as long as you:

Business owners who currently have liens on their assets are welcome to apply, but the total value of outstanding liens must be less than $200,000.

Pros and Cons of Seek Capital

Here’s what independent experts and customers like about Seek Capital:

On the down side, here’s what they don’t like as much:

What Others Are Saying about Seek Capital

Seek Capital’s Better Business Bureau profile shows the following facts and figures as of October 2020:

Meanwhile, Seek Capital’s Trustpilot profile showed the following stats:

The Bottom Line

Seek Capital’s fee structure will have less appeal to well-established business owners with stellar credit ratings who qualify for funding from traditional financial institutions. The company is also relatively slow to release funding, making it a suboptimal option for those who need cash now.

However, millions of entrepreneurs fall outside these categories, and Seek Financial is a fantastic option for them. It approves almost everyone who applies, making it an especially valuable resource for approval-challenged business owners who aren’t facing immediate, pressing needs for funding.