About company
Big Think Capital is a financial services marketplace specializing in helping businesses find the capital for expansion, day-to-day operations, or debt restructuring. The company was established in 2017 and is located in Melville, New York.
It assists business services professionals like financial planners or lawyers to find appropriate funding for their clients and cover business expenses. Big Think Capital is considered legitimate due to it being Better Business Bureau (BBB) accredited and having A+ rating.
Pros and cons
Big Think Capital has many reviews from customers that show that the company's services are quite controversial. So, it needs to have a closer look.
Pros
- Has A+ Better Business Bureau (BBB) accredited and excellent Trustpilot reviews.
- Has low-interest rates starting at 1.15%.
- Through Big Think Capital, customers can get multiple offers from various lenders
- No credit report check-ups. The lenders make the investment decision about the clientele's creditworthiness independently.
- The straightforward and fast application process.
- Provides funding within a day.
- Uses government-compliant controls to protect clientele's data.
- Big Think Capital does not dictate how loans should be spent or disbursed, like banks, venture capitalists, or investors do.
Cons
- Requires at least 1year of operation in business.
- Has a high monthly revenue requirement of $15K.
- Most of the services have minimal credit score requirements starting from 600.
- The company has no mobile application.
Hence, if you're a busy small business owner lacking time to research and apply to a great number of individual lenders, Big Think Capital can be a great option for you, as it guides customers throughout the whole application process and has up-to-date security data program.
Terms and conditions
Big Think Capital has an array of various business loans to choose from. To qualify for them, the clientele will need to have at least 600 minimum credit score, one or two years of operation in business, and minimum annual revenue from $50,000 to $100,000.
One of Big Think Capital's services is an SBA Loan for the purchase of fixed assets such as real estate, equipment, disaster recovery, or refinancing of other debts. SBA Loans are long-term and partially guaranteed by the government. Interest rates vary from 6% to 13%. The loan term is 5-25 years. Loan amounts constitute $5,000 – 5.5 M.
Customers who are looking for a flexible credit line can apply for a Business Line of Credit with a 7-25% interest rate, loan term from 6 months to 5 years, and $10k-1M loan amount. That service can be used at any time of purchase.
As a term loan, it can be suitable for purchasing business inventory. The interest rate is 7-30% at terms of the loan varying from 1 to 5 years. The loan amount makes up $25k – $1MM.
For small business owners, there is a short-term loan option. It allows them to cover small business costs, buy stock, and purchase equipment that will pay off in less than two years. The minimal interest rate is 14%. Loan amount $2,500–250k. The term of the loan is from 3 to 18 months.
To cover unpaid invoices or pay current bills, customers can apply for invoice financing. The loan amount constitutes 50-90% of the value. The term of the loan ends when all the invoices are paid.
Also, there is a Small Business Startup loan, which enables startups to launch or fund a small business, get a business credit card, equipment financing, and credit line builders. For this service, collateral is required. The interest rate is from 7,9 to 19,9%. The loan amount makes up to $150k. The term of the loan is from 6 months to 4 years.
If customers need to get a quicker alternative to more traditional funding methods, they can apply for Merchant Cash Advance. It represents an advance on future credit or debit card sales. The interest rate is 1,15%. Loan amount $2,500–250k. The term of the loan comes to an end when the advance is paid.
To get business equipment, car loans, or leases, customers can apply for equipment loans with interest rates from 8 to 20% and loan amounts up to 100% of value.
Funding a loan
Borrowers can get their money from Big Think Capital’s partner to their bank accounts. Time to funding varies from one, two to 20 business days. The operational time of the loan depends on the loan type, but generally is from half a year to a year.