|💰 Loan Amount||$5,000 – $60,000|
|💸 Loan Term||3 months – 12 months|
|⌚ Requirements||Trading for at least 6 months
Turnover greater than $5,000 per month
|⭐ Client Reviews||N/A|
|⭐ Editorial Score||86.3% by Small Business Loans Australia|
|📝 ABN:||55 603 041 756|
|📝 Credit License:||603 041 756|
|🌝 Easy to Apply:||Yes|
|⏱️ Response Time:||24 hours|
|📃 Required:||90 – 180 days of bank statements|
|💳 Minimal Interest Rates:||No establishment fee
The Captrove online loan calculator, based on the weekly repayment, suggests interest of $26,666 on a $60,000 loan over 12 months. Daily payments of $333.33 over a 260 daily repayment programme
|💌 Online Feedback:||None|
|🏆 Awards and Recognition:||None|
Captrove Australia Short Review:
Captrove has been around since 2014 and is the go to lender for newer companies and companies with a lower monthly turnover. It’s also particularly noted for working with companies who have a bad credit history.
The Captrove offering is straightforward and designed to help businesses with their cash flow across various different circumstances. Captrove will work with clients to find a repayment schedule that suits their cash flow requirements.
Below you can read our full review of CapTrove based on the research we have made. We aim to keep our data up to date and as comprehensive as possible, however, if we have made any errors please let us know. CapTrove offers unsecured business loans up to $60,000. It’s a very straightforward offering designed for simplicity. All conducted online with no security required. Rates are based on individual circumstances but Captrove pride themselves on being a responsible lender that can work on a repayment schedule that suits your business’ cash flow.
Thorough Editorial Review of CapTrove
What Products Do Captrove Offer?
Below you can read our full review of CapTrove based on the research we have made. We aim to keep our data up to date and as comprehensive as possible, however, if we have made any errors please let us know.
CapTrove offers unsecured business loans up to $60,000. It’s a very straightforward offering designed for simplicity. All conducted online with no security required. Rates are based on individual circumstances but Captrove pride themselves on being a responsible lender that can work on a repayment schedule that suits your business’ cash flow.
Company Story & Credibility?
Captrove, formerly named Trove Capital until 2017, was established in 2014 by the Credit Corp Group. Based in Sydney, Captrove offers small business loans throughout Australia.
The Credit Corp Group is a specialist Australian debt buyer, with extensive experience in the financial services industry. Founded in 1992, Credit Corp Group has over 1200 employees and is listed on the Australian Securities Exchange. Although operating in a perhaps unpopular field of debt collection, the Credit Corp Group has extensive experience in working with individuals and businesses with both good and bad credit ratings. Through their Credit Group Financial Services division they are able to use their expertise to offer both consumer and small business finance.
As a result Credit Corp is one of the largest providers of sustainable financial services in the credit impaired segment in Australia. Captrove has been established on the core values of responsible lending specifically for small businesses. Unlike other business lenders, Captrove look at more than just assets and collateral which allows them to offer unsecured loans to a wide range of businesses in varying circumstances.
Captrove Client Reviews
- No available Captrove reviews
- One review of Credit Corp Group Limited in relation to their consumer finance offering ‘Wallet Wizard’ – TrustScore 3.4 / 5
Unfortunately there are simply no reviews that can be found online for Captrove. The consumer review for Wallet Wizard whose website has the exact same look and feel as captrove.com.au praises the fact that they were the only company willing to lend money at a time of real financial crisis. But deems them to be ‘the best of a bad bunch’ as they had the incorrect repayment date and attempted to debit their account two weeks earlier than agreed. Whilst the customer praised them for not charging an establishment fee (something Captrove don’t charge either) they were deemed to have charged a high interest rate.
Based on Captrove’s online loan calculator we too expect that they do charge above the industry average, but we must take into account Captrove work with companies with poorer credit history on an unsecured basis.
Captrove’s Online Platform
Captrove has a no frills easy to navigate website. Just like the offering its all designed for simplicity so businesses can apply and receive their loan in the quickest turnaround possible.
It includes a pretty comprehensive FAQ section so users can get more understanding about the eligibility criteria and the loan repayment terms. Users can also get an indicative loan rate based on the amount and repayment time input into their online loan calculator.
Captrove Loan Compatibility
- Startup: Not immediate, but with minimum criteria of 6 months in operation and $5,000 monthly turnover this is amongst the most accessible in the online lending industry
- Bad credit: Yes, this is Captrove’s speciality
- Sole trader: Yes, Captrove works with sole traders.
- Established business: Yes, Captrove works with small and medium sized businesses
- Turnover: Captrove requires at least $5,000 per month.
CapTrove Review Summary
Credibility - 80%
Website - 85%
Compatibility & Variety - 70%
Put simply, Captrove is the best lender for bad credit businesses. The fact it is supported by the Credit Corp Group who specialise in working with customers with a bad credit history certainly supports this. The Credit Corp Group is unpopular for its debt collection activities but at the same time you have to ask yourself who else would you want to operate in this segment of the industry if you are a borrower with a bad credit history. Much better it is provided by a debt specialist than an industry newcomer.
We hope you’ve found our Captrove review informative and ultimately it’s assisted you in making a decision as to whether Captrove is the best online lender for you. For any inaccuracies or more information you’d like to know please contact us.