CAN Capital Review

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Phone Number
Date Established
Kennesaw, GA


  • Low factor rates
  • Low origination fees


  • Difficult application process
  • Opaque terms and fees


At 18 years in business, Georgia-based CAN Capital (formerly known as Capital Access Network and AdvanceMe) is one of the oldest alternative lenders on the market. Following a lending hiatus and a management shake-up, the company resumed funding this summer after receiving a cash infusion from New York-based investment group, Varadero Capital.

While initially offering only merchant cash advances (MCA)—a type of financing in which businesses sell a portion of their future receivables in exchange for capital—CAN Capital now also offers short-term loans (STLs). (They had previously issued longer-term loans as well, but the option no longer appears in their advertising.)

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 funding from CAN Capital:

Time in business:4 months
Credit score:550
Revenue:$4.5K per month

Terms and Fees

These are the terms and fees for CAN Capital:

Borrowing amount:$2.5K – $150K
Term length:6 – 18 months
Factor rate:1.15 – 1.35
Origination fee:$395
Effective APR:Learn more
Collateral:Personal guarantee and/or UCC-1 blanket lien

CAN Capital offers a maximum of $150K in funding 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 on how APRs work with MCAs.

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.

Repayment varies depending on whether you’ve taken out an STL or an MCA.

  • STLs are repaid through a daily deduction of a fixed amount of your bank account made through an automated clearing house. There may be an additional fee for this service.
  • MCAs are repaid through a deduction of a percentage of all your debit and credit card sales.

Application Process

Here’s where it gets a little weird. Officially, the company is funding again, but there are some strange things afoot with CAN Capital’s website. Where the apply button would typically be, there’s a button marked “Current MCA Customer” that takes you to a login screen. In point of fact, it doesn’t appear to be possible to apply online at the moment.

You can still reach them by phone, however (they confirmed that they are issuing new MCAs and STLs).

Keep in mind, you’ll need to provide some additional information if your application is accepted. 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

The time from application to funding is normally 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 are on offer. Neither is there a way to quickly compare this funder’s services to other companies that offer business financing. The company appears to no longer be associated with the Innovative Lending Platform Association, a group attempting to bring greater transparency to the industry.

Given the company’s seemingly slow return to funding, however, I would expect changes to the site in the near future.

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 website, CAN Capital is accredited with an A+ rating and has received 12 complaints in the past three years. The company also has an aggregated score of 9 out of 10 on TrustPilot, with over 400 reviews. Aside from complaints about the customer service (see above), these were the most common gripes:

  • Expensive capital: CANs Capital’s short-term loans are expensive. For more information see…literally any other section 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.

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

In former times, CAN Capital carried a reputation similar to that of its competitor OnDeck. Namely, it was known as one of the bigger, more established players in the alternative funding business. However, they seem to have come through their recent financial troubles worse for wear. One of the big selling points for alternative funding is an easy online application process and, at the time of this update, that doesn’t seem to be in place. They’ve also shed any reference to their longer-term loan products, making them a much less versatile option than they were in the past.

With new management in place and their transitional period apparently not complete, it may not be the best time to seek funding from CAN Capital. We’ll check back in a few months and see whether things have improved.

Take a look at out our list of other services similar to merchant cash advances; you might just be eligible for a different kind of loan.

Chris Motola

Chris Motola

Chris Motola is an independent writer, journalist, programmer, and game designer who has mastered the art of using his laptop in no fewer than 541 positions, most of them unergonomic. When he's not pushing keys or swiping screens, he's probably out exploring urban or natural environs, experimenting in the kitchen, or delighting/annoying his friends with his ideas and theories.
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