We have a company policy that when we provide you funding, we must pay off the existing balance, think of it as a top-up.
The same goes for competitor loans, we are a responsible lender and follow responsible lending practices to ensure our customers can service their loan. This means we also do not stack loans. For example, if you have a loan with our direct competitors prospa, ondeck, moula, get capital, business fuel, spot cap and waddle loans we can not provide you additional funds if you have not paid out more than half of your loan with that competitor first.
Please keep in mind if you have a loan from the big banks like ANZ, Westpac, Commonwealth or nab, we do not consider them direct competitors or part of the unsecured alternative online lending space. This means if you have a bank loan Capify can still help you access unsecured business funds.
If you would like more information about this topic call 1300439157 to speak to your account manager or email email@example.com