Capital Boost Review and Analysis
This review of Capital Boost (full name Capital Boost House) will explain how this business loan brokerage fits into the overall business loan market in Australia and the online lenders it can connect you with. We also look at the types of capital it can help you raise, whether it be on a secured or unsecured basis. Read our Capital Boost review to determine whether it’s best to take an extra step in your business loan journey and use Capital Boost as a loan brokerage or apply directly with an online lender of your choice.
|📝 ABN:||89 552 119 876|
|📝 Credit License:|
|💰 Loan Amount||$5,000 – $500,000|
|⏲️ Loan Term||3 months – 5 years|
|💸 Unsecured Loans?||Unsecured Loans Available (up to $500,000)|
|⌚ Lender Requirements||Varies per lender but as standard, a minimum of 6 months trading and at least $5,000 revenue per month.|
|📃 Required:||Driving License Number|
Your ABN Business Number
|⏱️ Response Time:||24 hours|
|🌝 Easy to Apply:||Online application or option to call Capital Boost to discuss your requirements.|
|💌 Online Reviews:||Very few but all excellent|
|🏆 Awards and Recognition:||None to date|
|💳 Minimal Interest Rates:||Unknown|
|⚖️ Compare Capital Boost||Compare Capital Boost with 20+ Australian Lenders on Lend.com|
|Review Table of Contents|
Company Story & Credibility
Is Capital Boost a Lender?
Capital Boost is not a direct lender to businesses. Capital Boost is a personalised business loans brokerage firm based out of Sydney that specialises in securing loans for small and medium sized businesses across Australia. Their expertise and understanding of the business loan market in Australia, clubbed with their partnership with some of Australia’s leading non-bank lenders, enables Capital Boost to deliver loans for small businesses with no collateral or security and at better rates. Besides unsecured loans, Capital Boost will also cater to other loan options for businesses in Australia, including a business line of credit, invoice finance and equipment finance.
Registered in 2017, the firm has been assisting SMEs reach their potential with quick and fair financing solutions since.
We were unable to find a registered Australian company number for ‘Capital Boost House’ but it would appear it is a trading name of the organisation ‘PS Finance House PTY Ltd’. The ACN for ‘PS Finance House PTY Ltd’ is 621 938 083, although we have not been able to find their credit license number. Acting as a brokerage (which shall advise borrowers on their best options) we would expect to see the firm hold a credit license so it may be worth just establishing this is the case on your initial call with Capital Boost.
Based on the lending partners it works with, we must assume Capital Boost holds all of the relevant licensing to perform the role it does otherwise it’s highly unlikely Australia’s best business lenders (including the ASX listed Prospa) would have partnered with them in the first place.
How Does Capital Boost Work?
Each non-bank lender has a different criteria on who they can lend money to, how much they can lend, and the payment terms and interest rates it offers. The understanding that Capital Boost has of various lenders and the criteria they look for, helps Capital Boost match your requirement to the right lender to secure the loan faster and at better rates.
Whereas some business loan marketplaces will use advanced algorithms to match you with an appropriate lender, Capital Boost talks with you to understand your requirements better, before matching your requirements to the right lenders only. This saves you time and helps keep your credit score intact. The process looks a little like this:
Speak to a Specialist
Simply call the team at Capital Boost and their lending specialists will discuss the requirement. This is a no-obligation call which will help Capital Boost evaluate your requirement better and suggest only the best options.
Upload Bank Statements
Upload your bank statement through a secure 3rd party (Illion Statements) link to share your 6 months bank statement with Capital Boost. They view a read-only statement that will be shared with the lender of your choice.
Capital Boost will place your application with the right lender from their panel of 20+ online lenders to secure the best loan options for you. Loan disbursements are at the discretion of the lender but can be expected in under 24 hours.
Is Capital Boost Safe and Reliable?
Judging by the lending partners of Capital Boost and the previous client reviews, Capital Boost appears to be both safe and reliable. We are sure Australia’s biggest and best business lenders would only partner with firms they trust. This is particularly true when it comes to loan brokerage firms. Loan brokers undoubtedly have a mixed reputation but more often than not, the sharks won’t have a particularly long existence, particularly with the rise of online reviews and the ability to share experiences.
Registered in 2017, Capital Boost is relatively new to the lending scene in Australia but it doesn’t seem to have wasted any time in building its lending partners and assisting SMEs with getting finance. The online lending scene in Australia is still relatively young and new entrants are still joining the industry literally by the day but we would prefer a slightly longer track record in the industry (Capify were one of the first to offer online business loans in Australia in 2008).
The information on Capital Boost’s website is clear and we like the fact they are transparent too – when they discuss interest rates for example they make it clear that rates are likely to be higher than with a bank and can be anywhere from 9.9% upwards. Some lenders and brokers can keep their cards close to their chest when it comes to rates so we should value the transparency in those that offer it.
Founder and current MD of Capital Boost is Santhosh Battula. The company has been launched by the Battula family trust and appears to be a small but growing business loan brokerage. We’ve been unable to find the credit license number for Capital Boost House or PS Finance House Pty Ltd (the organisational representative of Capital Boost) so it’s certainly worth establishing this on your first call with Capital Boost.
Credibility Score: ⭐⭐⭐
Capital Boost Loan Eligibility
Capital Boost asks of its applicants that they meet just three pieces of eligibility criteria:
- Australian Registered Business (ABN Holder)
- In operation a minimum of 6 months
- Turnover of $5,000/month
As Capital Boost works with a number of different business lenders in Australia, each lender will have its own set of requirements. Some lenders ask for a minimum of 12 months in operation and a minimum turnover of $10,000 but Capital Boost will be aware which lenders you’re a suitable fit for.
Capital Boost Client Reviews
There are ten verified reviews of Capital Boost to be found on TrustPilot. Virtually every review mentions the same member of staff – there’s a small team at Capital Boost so at least you know you’ll be working with the same people as the borrowers who have rated their experience as ‘Excellent’. One of the reviews highlights:
“Exceptional customer service capital boost. I would recommend to anyone looking for a business loan, they work very close with the customer guiding you through the process to get your outcome. I would recommend using capital boost to anyone looking for a business loan.”
All of the customer reviews on TrustPilot rate Capital Boost as 5 / 5 but the 4.4 / 5 TrustScore is not just based on the average of previous client reviews – as there’s only 6 reviews it gives Capital Boost a score of 4.4 / 5. Despite Capital Boost claiming their TrustPilot profile over four years ago, we would have preferred to see a higher number of customer reviews, even though they are a small business. This would have allowed us to assess their service across a larger sample of customers.
A total of 18 reviews can be found for Capital Boost on google, as anyone can leave a review on google it’s difficult to know if these are all legitimate but we urge you to have a look for yourself – many of these appear to be real businesses who were able to raise finance through Capital Boost.
Client Reviews Score: ⭐⭐
Capital Boost Review Summary
Here at SmallBusinessLoansAustralia we definitely see the value in applying for a business loan with an intermediary, as opposed to directly with an online lender – you can get individual advice from an expert whilst receiving multiple loan offers. We normally prefer business loan marketplaces, such as Lend.com.au and Become Business Loans. They work on a slightly different basis with lenders than loan brokers do which incentivises them less to favour any particular lender over another.
That’s not to say a loan brokerage can’t be helpful though – particularly if you deem them to be trustworthy and fair. Capital Boost appears to have been serving its customers well by understanding their needs and matchmaking them with some of Australia’s top rated lenders.