GrowCap is a digital-first non-bank lender established in 2020, focusing on working-capital solutions for small and medium-sized enterprises. It offers an online platform delivering products such as supply-chain finance, invoice discounting, and unsecured SME loans. GrowCap operates under Indian regulatory permissions and is not authorised by the UK Financial Conduct Authority (FCA). Its services for UK businesses are provided on a cross-border, unregulated basis, which may suit established UK businesses comfortable with these terms. For a broader understanding of invoice finance and supply chain solutions, see our invoice financing options and supply chain finance guides.
Key Features of GrowCap
GrowCap provides a technology-driven experience with features designed to support SME borrowers seeking flexible, short-term working capital. Its online platform enables quick and straightforward interactions.
- Fully digital application and onboarding with automated checks and an electronic signature process.
- Multiple working-capital products available from a single platform, including invoice discounting and purchase order finance.
- Quick credit decisions, often provided within 24 to 48 hours, supporting fast business cash flow needs.
- Flexible invoice discounting that allows selective financing without whole-ledger lock-in; see selective invoice financing.
- Dedicated relationship managers for larger facilities and an online customer portal for self-service and monitoring.
Funding Eligibility
You may qualify for GrowCap facilities if your business has been trading for at least 12 months and meets certain turnover thresholds. Eligibility is also contingent on sector and debtor creditworthiness.
- Minimum trading history varies by product, ranging from 12 months to 3 years; learn more about trading history requirements.
- Annual turnover minimums start at £150,000 for basic loans, rising to £2,000,000 for trade finance; check our annual turnover guide.
- Excluded sectors include real estate development, tobacco, gambling, arms, and cryptocurrency trading.
- Facilities are limited to businesses operating in England, Wales, and Scotland with UK bank accounts.
Loan Options
GrowCap offers various products focusing on short-term working capital needs with differing amounts, terms, and interest rates. Below are some of the main loan types available.
- Selective Invoice Discounting: Finance amounts from £10,000 to £500,000 per invoice for terms of 30 to 120 days. Rates range from 1.0% to 3.0% per 30-day period (12% to 36% p.a.). See selective invoice financing for details.
- Purchase Order Finance / Pay-Later Facility: Offers loans between £20,000 and £250,000 per transaction, repayable within 30 to 180 days, with interest rates from 1.2% to 2.8% per 30-day period. More info can be found under supply chain finance.
- Vendor / Channel Finance: Revolving facilities from £25,000 up to £1,000,000 with terms of 30 to 90 days per drawdown. Rates vary from 0.9% to 2.5% per 30-day period. Refer to our vendor finance options page.
- Unsecured Business Term Loan: Amounts between £10,000 and £150,000 with terms ranging from 6 to 36 months and fixed APR rates from 14% to 28%. See our unsecured business loans guide.
- Trade Finance (Import / Export): Loans from £50,000 to £2,000,000 per shipment with terms of 30 to 180 days, interest ranging from 1.1% to 2.4% per 30-day period. More about this product is available at trade finance.
How to Apply
Applications with GrowCap are completed online, supported by email and phone. Expect a quick preliminary decision and electronic signing of documents. Prepare key financial and business documents for review.
- Submit an online application form including e-signature capabilities.
- Provide required documents such as six months of bank statements, financial accounts, director ID and proof of address, as well as debtor ledger or purchase orders depending on product.
- Allow up to 2 to 5 business days for full credit approval following an indicative approval within 24 hours.
- Once approved, funding is typically released the same day for invoice financing and within 2 to 3 days for term loans.
Funding Agent’s view on GrowCap
GrowCap serves as a technology-focused lender offering flexible working-capital finance primarily through invoice and supply-chain products. Its digital-first approach suits SMEs looking for speed and choice in short-term finance. However, the lack of UK FCA regulation and the requirement for personal guarantees present risks that borrowers should consider carefully. Established UK firms familiar with cross-border finance and the associated regulatory context may find GrowCap appropriate. For further evaluation, consult our tools, eligibility guides, and compare terms using the invoice finance calculator.
