Spotcap Limited is a fintech lender established in 2014 that offers unsecured credit lines to established SMEs in the UK via a fully digital platform. It specialises in short-term working-capital finance suited for businesses with a solid trading history and turnover, providing rapid access to funds without requiring asset security. This lender may suit mature businesses needing flexible credit but is less appropriate for start-ups or those seeking long-term borrowing. Learn more about unsecured business loans and working capital finance.
Key Features of Spotcap
Spotcap features a technology-driven application and credit process, supporting flexibility and speed. Its approach focuses on transparent costs and relationship management post-approval.
- 100% online application with open-banking and accounting software integration.
- Credit decisions typically made within 24 hours supported by automated underwriting, with human checks for complex cases.
- Access to a dedicated relationship manager once approved.
- Funds usually transferred to the bank account within one working day of offer acceptance.
- Flexible drawdown schedule within the approved credit limit, monitored through a transparent dashboard.
Funding Eligibility
You may qualify for Spotcap funding if your business has traded for at least 24 months with an annual turnover of £500,000 or more. The company must be registered and operating in the UK with directors and business in good credit standing. Certain sectors such as real estate development, gambling, and cryptocurrencies are excluded. For detailed qualification guidelines, see our how to qualify for a business loan and explore eligibility tools and loan eligibility criteria.
Loan Options
Spotcap offers a primary loan product suitable for short-term working capital needs with revolving access within a credit limit. The terms and fees reflect its focus on flexibility for established SMEs.
- Business Credit Line: £50,000 to £350,000; credit line valid for 1 to 2 years; each drawdown repaid over 6 to 12 months. Representative interest rates range from approximately 0.5% to 3.0% monthly (equivalent to 14% to 34% APR). No arrangement, drawdown, or early repayment fees; interest charged only on the amount drawn.
How to Apply
The application process is entirely online, designed for speed with document uploads and credit checks streamlined through integrated software. Expect decisions within a day and fast funding post-approval.
- Submit your application online via their digital platform with optional telephone support. Find application forms and assistance on our forms page.
- Provide required documents including latest filed accounts, management accounts or accounting software access, six months of business bank statements, director identification, and proof of address.
- The lender reviews your submission, using automated and manual underwriting to arrive at a credit decision usually within 24 hours.
- Upon acceptance, complete signing and the funds will typically transact to your business bank account within one working day.
Funding Agent’s view
Spotcap Limited's unsecured credit lines provide a digital-first funding option for established UK SMEs requiring short-term working capital. The rapid application process and revolving credit features are practical, though the requirement for a personal guarantee and higher interest rates mean it suits mature businesses well-positioned for short-term borrowing. For a comprehensive view and alternative options, use our business loan comparison tools, check your eligibility, or explore other unsecured lending products.
