Currency Capital Review

Founded in 2001, Currency specializes in providing equipment loans and leases to small and medium-sized businesses by connecting qualified applicants to lenders.

The brand is known for its straightforward financing experience. Though lenders within their network have unique requirements, Currency equipment loans and financing are accessible to a broad range of small business owners—even those with less than perfect credit.

Consider Currency Capital if you:

• Need working capital to purchase large equipment
• Are pressed for time
• Have fair credit (585 or better)

What makes Currency a reliable online lender? Below are some key reasons Currency stands out from its competitors.

Currency Capital LLC (now Currency) offers equipment financing as its main product. They can provide funding of up to $2,000,000 to help you make equipment purchases for your business. You can get funds under $150,000 within 24 hours.

Since Currency deals in both loans and leases, you’ll be able to decide which equipment financing option is right for your business. To help you out with this, consider the amount of money you currently have and how fast the equipment you need will become obsolete.

An equipment loan is best if you have the money for a down payment and the equipment you are eyeing has long-term utility. On the other hand, an equipment lease is an attractive option if you can’t afford a down payment and the piece of equipment you intend to finance needs to be upgraded frequently.

When applying for an equipment financing loan of less than $150,000, the underwriting process is quite simple. You’ll just have to fill out an application and hand over a formal quote for your funded equipment to finalize the process.

On the other hand, if you’re applying for equipment financing of more than $150,000, the underwriting process will be more involved. Therefore, these deals often take longer than a day to fund through the Currency Capital company.

Lenders have different payment and amortization schedules. Always look at your loan agreement to determine whether the equipment financing you secure has a prepayment penalty.

As part of its underwriting process, Currency carries out a soft pull on your personal credit. To determine creditworthiness, it runs your business through some third-party checks.

After this, it compares your profile against Currency’s loan requirements and those of its lenders. This way, they can match your business to the lender that best suits your needs.

• Relaxed borrower qualifications
• Fast approval and funding
• Streamlined process

• Opaque terms. Lenders who’ve partnered with Currency have different policies on equipment loans and leases. You may incur additional fees from lenders depending on their policies.
• Loans over $150,000 can take longer to fund.

• Annual Revenue $75,000+
• Personal Credit Score 585+
• Time in Business 6+ months

Currency Capital Funding Application: What You Need to Apply

• 2 years of business tax returns
• 6 months of bank statements
• Equipment quote
• Profit and loss statements
• Debt schedule
• Balance sheet
• Business licenses

Currency’s BBB is at a rating of A+ and its reviews tend to be split evenly between positive and negative.

The Currency company boasts a rating of 4.5 out of 5.0 stars on Consumer Affairs. Customers cited impressive customer service and the access to deep pools of capital the company affords.

A number of customers complained that they were billed at a higher rate than expected due to the opaque terms mentioned above.

Currency is a solid online lender that helps small business owners get the financing needed to make equipment purchases. It also proves to be a reliable service by offering fast approval and funding.

Furthermore, the relaxed borrower qualifications for deals under $150,000 make it an attractive option when compared to other online lending platforms. That, combined with the fact that funding is accessible within 24 hours.

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