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Lender
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

SOS Capital

Finanso.Multilogin™

About lender

SOS Capital is a company that offers term loans for businesses. It was launched in 2014 and currently provides its services all over the US.

As a multi-faceted entity, SOS Capital can provide its clientele with all three types of term loans (short, intermediate, and long) and personalized interest rates to suit their business needs. The company's key mission is to provide better funding services than the more conventional financial institutions - the funding is faster, more reliable, and more convenient. The company's team comprises experienced financiers more inclined toward business than personal financial solutions.

Besides simple term loans, the company also offers Invoice Factoring and Merchant Cash Advance services. The received money can be used for any business-related necessities, including growing your stock, building a better transportation network, or investing in marketing.

Pros and cons

The advantages of using this service are:

  1. Funding takes no longer than 24 hours. From the moment you submit your application, if everything goes right, it shouldn't take over 24 hours for the funds to reach your business account.

  2. Loan amounts are $25,000 - $2,000,000. Unlike traditional business loan providers, this alternative finance provider offers a broad spectrum of loans to its clients.

  3. Terms up to two years. There are no early payment fees, either.

  4. High approval rate. It's likely you will be approved for a term loan by this company, even if other lenders previously rejected you. It has a 95% approval rate.

  5. Client-oriented approach to business. SOS Capital is committed to helping your business grow and develop. Its customer support team is top-notch as well.

However, there are also cons for you to consider:

  1. There's not a lot of information available about the company, meaning it can offer you a deal that is marginally worse than they usually offer, but you wouldn't know because there's not enough data.

  2. Risk of default. There's a risk that you cannot pay back your term loan. In that case, your and your company's financial situation will be affected in a major way.

Terms and conditions

The conditions and terms of term loans and cash advance services offered by this company are not publicly available. They offer loan amounts ranging from $25,000 to $2,000,000. The maximum length of the loan term is capped at two years.

Other than that, it's hard to forecast the actual proposal that you will receive. The company prides itself on being able to offer tailor-made loan terms that make the most out of your assets. Judging by testimonies from the official website and verified reviews from third-party sources, this company stands by its promises of offering personalized deals to its clients.

Funding a loan

The funding process is smooth and is tailored to the needs of any business, including small businesses. With an approval rate of 95% and 24-hour funding, you will likely be able to make good use of your loans the very next business day. In general, the approval process doesn't take longer than six hours. After gaining approval, you will be asked to finalize wire transfer details.

FAQ

What is SOS Capital?

SOS Capital is a company that offers term loans for businesses. It's well-known due to its exceptional reputation and ability to tailor loans to each client.

How does SOS Capital work?

SOS Capital evaluates every application in 6 hours or fewer. In case of a successful application, they reach out to you and ask for wire transfer details. Within 24, you can receive the money you need.

How much can I borrow from SOS Capital?

Clients are not allowed to borrow more than $2,000,000, which should be enough for this company's target audience, small businesses.

Company documents

Legal
Privacy Policy

You dream, we build it for you! SOS Capital’s mission is to get small businesses their desired capital at the expected, and pre-defined terms.

© SOS Capital

What to focus on before applying for a loan with SOS Capital

To ensure the lender is legitimate, check if it meets the following criteria:

How do you know if a loan company is registered?

The lending company is registered with the US Securities and Exchange Commission (SEC) and has a tax identification number (EIN). Note that tribal lending companies operate under the jurisdiction of tribal laws, and they don't have to register with the SEC. But still, tribes must act under federal consumer protection laws enforced by the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC).

According to the FTC requirement, the lending company is registered in your state, excluding tribal lenders abiding by tribal and federal laws only. That is why tribal lending companies can charge interest rates exceeding your state's maximum.

Finally, the State Attorney General can verify the registration of the lending company if you need additional proof of whether it is legitimate.

If a US lending company scams you, please report to local law enforcement, your state attorney general, CFPB, or FTC.

Finanso® also recommends

Learn the total cost of a loan, including:

It will be best to read a loan agreement carefully before signing it. If any part of the agreement seems incomprehensible, do not hesitate to ask the lender about particulars.

Remember that you don’t have to make an immediate decision when considering getting a loan. However, you must be sure that you are ready to repay following your loan documents. If the lender’s terms and conditions are uncomfortable for you, you are free to search for another proposal, as there are about 780 lending companies in the US.

What’s the difference between SOS Capital and a bank?

  1. You need to have a good credit history to qualify for a credit card with a bank. In contrast, even bad credit history debtors can borrow money from US lenders with personal or payday loans. 
  2. Interest rates and annual percentage rate for a loan with an online lending company are significantly higher than with a credit card released by a bank.
  3. Applying for an online loan with a lending company doesn’t require paperwork or even visiting their office. Instead, a borrower can apply entirely online and receive money via direct deposit on the next business day.
  4. The online lending business is high-risk for investors, and their capital is not protected from unfair borrowers.
  5. A loan with legitimate loan companies for bad credit is a simple but expensive form of borrowing to resolve financial hardship.
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All SOS Capital’s reviews by October 2022
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