When it comes to securing funding for your business, it can be difficult to find the right option that matches your goals. However, there are services available that aim to simplify the process and make applying for loans far easier.
Capalona is just one of these services. It specialises in connecting businesses with the right funding solutions, offering an array of financial products to suit various business needs.
But is it worth your time, or are there better options available? That’s what we’ll cover in this post as we delve into the pros, cons and features of Capalona.
What does Capalona do well?
It lets you compare a wide range of financial products
Capalona offers extensive financial solutions, including business loans, invoice finance, asset finance, merchant cash advances and commercial mortgages. This breadth means that businesses big and small from multiple sectors can find suitable funding options.
The service is free to access
One of the biggest advantages of using Capalona’s service is that it’s free to access and browse different lenders. Your business can explore different financing options and receive quotes without any cost. If you’re cautious about upfront costs, this feature makes Capalona a great option.
The application process is fast and simple
Capalona’s application form only takes a few minutes to complete. In several reviews, users have praised the speed and efficiency of Capalona’s service. You can fill out a single application form and receive multiple quotes, saving time and effort compared to applying to individual lenders.
You can access reputable, high-quality lenders
Capalona compares financial products from more than 50 reputable lenders including Starling Bank, NatWest Business and Nationwide Corporate Finance. This network allows you to compare offers and choose the best terms available, increasing the chance of you securing favourable financing.
Capalona provides expert guidance when you need it
Capalona provides expert advice and support throughout the funding process. Their team will help you understand the different products and navigate the complexities of finance, meaning you’ll be making an informed decision.
What are the drawbacks of Capalona?
Potential for information overload
With numerous funding options available, you may find the variety overwhelming. If you’re new to business, understanding the different products can be challenging without financial expertise.
Dependence on partner lenders
The quality and terms of the financing options available through Capalona are heavily dependent on their partner lenders. If the lenders’ terms are not competitive, it could limit the attractiveness of the offers you receive.
No direct lending
Capalona acts as an intermediary and does not provide direct lending. While their services allow access to and easy comparison of lenders, you’ll need to look elsewhere if you want a direct lending relationship.
Top features of Capalona
Business loan calculator
Capalona provides an intuitive business loan calculator that you can access on the website. This tool allows your business to quickly estimate potential loan costs by inputting the desired loan amount and term. It helps you to understand the financial commitment and pay your repayments more effectively.
Comparison of business credit cards and grants
It’s not just business loans that you can compare on Capalona. For instance, you can compare different business credit card options too. Users can evaluate cards based on interest rates, rewards and other benefits. Capalona also compares grants and loans available to businesses. This is particularly useful if you’re a startup or SME.
Useful tips and guides
Capalona’s website is rich with informative content, offering various tips and guides to help you navigate the complexities of financing. Resources cover a broad range of topics, including understanding different types of finance, improving credit scores and managing cash flow.
What’s the best alternative to Capalona?
While Capalona is a useful service for businesses wanting to compare different loans, it does have its limitations. The dependence on partner lenders and the potential for information overload can be drawbacks. If you’re looking for an alternative, Funding Triangle is a top option.
Funding Triangle offers a full range of quick and competitive unsecured business loans specifically tailored for small businesses. You can apply today for a loan ranging from £10,000-£500,000 with interest starting at just 4.8% – plus the added benefit of no early repayment fees.
