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XPRS Capital Review

XPRS Capital

Needing funds to run a business is not a recent development, and neither is applying for loans to get them. However, with the current economic climate, it’s more challenging nowadays to get the said loans approved. The problem stems from traditional lenders wanting to make sure that you can repay a potential loan. With their higher expectations comes with the requirement to send bajillions of paperwork… But not with XPRS Capital who claims to be different. Review below.

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With XPRS Capital, applying for a loan is less of a hassle. Says it only takes around eight minutes to accomplish the application form. Just a little info about the business, its owner, the intended use of funds, the loan amount, some bank statements, and you’re done.

For small business financing requests, the decision is determined in just a span of few hours after the application is received. That is thanks to XPRS Capital using the “most current technology” [which is simply saying “yes” to every initial requests].

Consequently, funding can be delivered as fast as the next business day. Loan amount range from $5,000 to $1,000,000 and have terms of three to twenty-four months, including line of credit.

The said funding can be requested for either one of the following: Equipment financing, small business acquisition financing, working capital financing, seasonal cash flow financing, and business expansion financing.

As the name implies, equipment financing refers to a loan to buy expensive equipment. Forget about leasing when you can just go all-in with the funds provided by this loan.

Meanwhile, small business acquisition funding is for loans to help with, well, small business acquisition. Typically, lenders are not eager to finance goodwill. It doesn’t matter if the biz is making money, they would require you to show its real, actual worth [net assets minus the debts] which could be difficult.

Then, working capital financing is for getting funds to cover for the cost of day-to-day operations that increase as your business grows. The said increase just happens whether the business is profitable or not.

But if the increase in operations cost is due to seasonal demands, it’ll be under the seasonal cash flow financing. If it’s due to major expansion, then it’ll be under business expansion financing instead.

XPRS Capital believes that no business should be denied access to financing… Not because their owners don’t have a great credit, or at best, they’re not a priority of traditional lenders.

They made it clear that they don’t pay attention to credit score that much, and more on the cash flow of the business. Which, again, is not typical for traditional lenders. If you don’t qualify for the loan, they’d still give you a grand, so what’s to lose?

Well, do you really believe that XPRS Capital will send money after sending in your application? If you do— oh, you sweet summer child— I have bad news for ya. They’ll send zero. They eventually denied saying the guarantee in a flyer, but some swear by it. You know what they say, if it’s too good to be true, then it probably is.

XPRS Capital Review

There’s nothing to receive here, and only your privacy to lose. Thought you’ll make money with your biz using the loan grant? Think again! XPRS Capital will pull a reverse UNO card and make money from you instead. Buncha peeps have pointed out that XPRS Capital are only after your personal info. Once they’re sold, brace yourself for more spam and scam.

Personally, I hate that they’ll lead you on. They’re like, here’s the pre-approval letter, go send your application. It’ll be easy! And yes, the initial process was indeed easy. You’ll swiftly get a confirmation that your application is “approved”, all that’s left to do is fill out the contract with your info and include some confidential documents.

Submit those and voilà, your application is somehow disapproved now! And to rub it in that they indeed sold your data, they’ll get other lending companies in your inbox right away. As Chris Walker mentioned on his one-star Trustpilot review of this company, “I did not agree to have my file sent to any other lenders!” Steer away!

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