CAN Capital Review

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Kennesaw, GA

CAN Capital is not currently originating new loans or advances. Check out our comparison of top merchant cash advance and short-term lenders or our full list of reviews for alternatives. 


  • Merchant cash advances
  • Short term loans
  • Mid-length term loans
  • Working capital loans
  • Quick application
  • Fast access to cash
  • Minimal borrower qualifications
  • Quality business loan calculator


At 18 years in business, CAN Capital, formerly known as Capital Access Network and AdvanceMe, is one of the oldest non-bank business financing services available. Since its inception, the company has helped pave the way for other alternative lenders that base their underwriting on business characteristics like cash flow, not credit scores.

While they started offering merchant cash advances (MCA), a type of financing in which businesses sell a portion of their future receivables in exchange for capital, CAN Capital has branched out. Currently, CAN Capital offers four products, which they call Business Loans, TrakLoans, Merchant Cash Advances, and Installment loans.

For those who don’t spend their days writing about business loans, the Business Loan, TrakLoan, and Merchant Cash Advance options are all essentially short term financing options, which are more-or-less the same from a borrowing perspective. The loan structures are very similar, differing only by how you repay the loan. These financing options are repaid daily via the deduction of a fixed or variable portion of your sales.

According to the calculator on the website, fees range from 1.15 to 1.35, which means you’ll have to repay between $1.15 and $1.35 for every dollar borrowed.

On the other hand, the Installment Loan is a traditional term loan. You will be given an interest rate, and you will repay the loan in fixed monthly installments. Term lengths vary between two and four years.

While the fees are undeniably on the expensive side, this lender has a lot to offer in terms of short term financing: multiple repayment options, low borrower qualifications, and potentially the best deal. If you don’t have access to less expensive capital, I’d recommend including CAN Capital in your comparisons.

Read on for the details, or check out our list of the best alternatives to merchant cash advances.

Services Offered

Borrower Qualifications

These are the minimum requirements to get short term financing or a term loan from CAN Capital:

Short Term FinancingTerm Loan
Time in business:4 months7 years
Credit score:550680
Revenue:$4.5K per month$350K
Other:Monthly revenue must be relatively stableNot available in certain states (see below)

CAN Capital does not state a minimum personal credit score for short term financing, though they do run a check on your profile.

Term loans not available in Connecticut, Delaware, Michigan, Minnesota, Montana, North Dakota, Nevada, New Jersey, New York, Rhode Island, South Dakota, Tennessee, and Vermont.

Terms and Fees

These are the terms and fees for short term financing:

Borrowing amount:$2.5K – $250K
Term length:4 – 24 months (STL)
No maturity date (MCL/TL)
Factor rate:1.15 – 1.35
Origination fee:2%
Effective APR:Learn more
Collateral:Personal guarantee and/or UCC-1 blanket lien

CAN Capital offers a maximum of $150K available for single locations, or up to $250K if your business spans multiple locations.

Fees are calculated once by multiplying the factor rate by the principal. According to the loan calculator on CAN Capital’s website, these rates range between 1.15 and 1.35, which means you’ll be repaying somewhere between $1.15 and $1.35 for every dollar borrowed. If, for example, you had a factor rate of 1.3 and you were advanced $30K, you would have to repay a total of $39K ($30,000 x 1.3 = $39,000).

The factor rate is not equivalent to APR. For short term financing, the shorter your repayment period, the higher the APR. For more information, check out this article.

Although you wouldn’t normally be able to save money by repaying a short term loan early (because the fee doesn’t change regardless of term length), CAN Capital grants a 6% rebate on the remaining fee if you repay early, as long as you’ve had the capital for at least 90 days.

All short term loans carry the same fee structure, the only difference is how they’re repaid:

  • Business Loans, more commonly known as short term loans, are repaid through a daily deduction of a fixed amount of your bank account.
  • Merchant Cash Advances are repaid through a deduction of a percentage of all your debit and credit card sales.
  • TrakLoans are repaid through a deduction of a percentage of your daily sales via your bank account.

The terms and fees for term loans:

Borrowing amount:$50K – $100K
Term length:2 – 4 years
Interest rate:12.9% – 24.9%
Origination fee:2.99%
APR:Approx. 14% – 29%
Collateral:Personal guarantee

CAN Capital’s term loans are designed to be repaid in 2 – 4 years. You do have the option of repaying early, but this lender does charge a prepayment penalty for their term loans.

Application Process

To get a quote from this lender, all you have to do is fill out an application via the website. You’ll have to provide information about yourself, your business, and why you need the funds. The system will provide you with an estimated rate, along with a number for customer service.

If you wish to continue the process, you’ll have to supply documentation about your business that proves the information you’ve already provided. Usually this includes:

  • Your tax ID or social security number
  • The last three months of bank statements or credit card statements
  • Last year’s business tax return

You’ll also have to talk to customer service, who will help you determine which finance option is right for you, make sure you understand the process, and answer any questions you might have.

When you’ve provided everything necessary, your information will be sent to the underwriting department. Your underwriter will verify all the information. If everything checks out, you’ll be given an official offer and, when you accept and everything is set up, the money will be wired into your account.

The time from application to funding normally takes 48 hours or less, but might be slowed down if the underwriter needs to request additional documentation or has trouble verifying your information.

Sales and Advertising Transparency

At this point in time, CAN Capital’s website provides very little information that would help business owners understand what financing options CAN offers or offer a way to quickly compare this funder’s services to other companies that offer business financing.

It should be noted, however, that this funder has recently formed an alliance with peers OnDeck and Kabbage called the “Innovative Lending Platform Association.” Among other things, the three have pledged to make short term pricing easier to understand.

Customer Service and Technical Support

Customer service is available Monday through Friday 8:30 – 6:00 EST by phone or through a live chat option on their website.

When talking to customer service, your mileage may vary. I’ve read about people who had great experiences with friendly customer service representatives who were willing to answer questions and solve problems. I’ve also read about people who were extremely frustrated with the experience because the reps ignored questions, made assumptions, or didn’t communicate important information with other in-house employees.

The general consensus is that CAN Capital suffers from poor communication and organization, which makes their customer service extremely inconsistent.

Negative Reviews and Complaints

On the BBB, CAN Capital is accredited with an A rating, and 12 complaints in the past three years. The company also has an aggregated score of 9 out of 10 on TrustPilot, with over 300 reviews. Aside from complaints about the customer service (see above), these were the most common:

  • Expensive capital: CAN Capital’s short term loans are expensive. For more information see… the rest of this review.
  • Daily repayments: Having daily automatic repayments makes funding less risky, which translates to lower fees on the part of the merchant. Unfortunately, making repayments on a daily basis can be troublesome to merchants who find themselves operating on a thin profit margin.
  • Hard credit inquiries: CAN Capital does run a hard check on your credit score, which some customers claim they weren’t informed about.
  • Non-transparent website: This funder’s website provides very little information regarding potential terms and fees.

Positive Reviews and Testimonials

CAN Capital has a number of positive reviews on TrustPilot, and a few testimonials on their website. Customers are happiest with the:

  • Low borrower qualifications: Can’t get capital from a bank or other online lender? You can still get funds from CAN Capital.
  • Helpful customer service: Although some customers expressed frustration with the quality of customer service, many customers were happy with the representatives they talked to.
  • Fast time to funding: CAN Capital can usually provide the funds within 48 hours after application, if you can gather the documents quickly enough.

Final Verdict

CAN Capital carries a reputation similar to its competitor OnDeck. Namely, while both companies have expensive fees and suffer from transparency issues, their low borrower qualifications mean that if you can’t get funding elsewhere, you might still be able to get capital from either of these services.

Many other merchant cash advance providers offer business capital with similar fees and borrower qualifications, but CAN Capital is large and experienced enough that you have a good chance of getting the best deal from this company. Furthermore, the amount of options available to merchants mean that you’ll have an easier time finding a repayment method that fits your business’s needs.

If you can’t get funding elsewhere, CAN Capital is worth considering. After all, they’ve been in this industry for 18 years; they know what they’re doing.

That said, you might find that you’re eligible for other, less expensive, providers, or that short term funding is not the right kind of funding for you. Check out our list of other services similar to merchant cash advances; you might just be eligible for a different kind of loan.

Bianca Crouse

Bianca Crouse

Bianca is a writer from the Pacific Northwest. As a product of the digital age, she likes absorbing large amounts of information and figures she might as well pass it on. When not staring at a screen, she is probably foraging for food outside, playing board games, or harassing somebody with theories about that movie she just watched.
Bianca Crouse
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