Including small business loans, commercial real estate loans, and other financing solutions. While based in Florida, GoKapital offers services across the United States, including Iowa
GoKapital Serving Iowa
GoKapital is a financial company that provides various business funding options
GoKapital offers business loans across the U.S., including in Iowa.
Their products target small to medium-sized businesses that may have difficulty obtaining financing from traditional banks. Here’s an overview of what GoKapital typically offers:
1. Loan Types
- Short-Term Loans: These are often easier to qualify for and designed for quick repayment, typically 3 to 18 months.
- SBA Loans: Long-term, low-interest loans backed by the Small Business Administration, but usually requiring good credit and more documentation.
- Business Lines of Credit: Allows businesses to draw funds as needed, up to a certain limit.
- Merchant Cash Advances: Funding based on future sales. It’s repaid daily or weekly based on a percentage of daily credit card sales.
- Equipment Financing: Financing to purchase or lease business-related equipment.
2. Loan Amounts
- GoKapital offers loans from $10,000 up to $5,000,000, depending on the loan type and the business’s financial situation.
3. Qualification Requirements
- Requirements vary by loan type but typically include a minimum credit score (often around 500 for short-term loans and higher for SBA loans), proof of business revenue, and business duration (often at least 6-12 months).
4. Application Process
- GoKapital’s application is generally fast and can be completed online, often with a response within 24 hours. They may require business financial statements, credit history, and personal identification.
5. Interest Rates and Fees
- Rates vary based on the loan type, credit score, and financial health of the business. Short-term loans and cash advances often have higher rates, while SBA loans usually offer the lowest rates.
Would you like more detailed information on any specific loan type, or how to apply?
GoKapital also provides real estate financing options in Iowa, which cater to both investors and business owners looking to purchase, refinance, or cash out on real estate assets. Here’s a breakdown of their typical offerings:
1. Types of Real Estate Loans
- Fix and Flip Loans: Designed for investors who purchase, renovate, and resell properties. These are short-term loans typically lasting 12-24 months.
- Rental Property Loans: Long-term loans for purchasing or refinancing rental properties, ideal for investors looking to expand their property portfolio.
- Commercial Real Estate Loans: Financing for purchasing or refinancing commercial properties like office buildings, retail spaces, or warehouses.
- Construction Loans: Funds for new construction projects, often with a draw schedule based on completed work milestones.
- Hard Money Loans: Asset-based loans that are often easier to qualify for, ideal for short-term financing needs or unconventional property deals.
2. Loan Amounts and Terms
- GoKapital offers real estate loans from $100,000 to $50 million, depending on the loan type and property value.
- Terms can range from 12 months to 30 years, with many options offering interest-only payments for a specified period.
3. Requirements and Qualifications
- GoKapital’s real estate loans are typically based on property value rather than borrower credit, although a minimum credit score might still be required.
- A down payment or equity stake of 10-20% is usually needed.
- For fix-and-flip and hard money loans, loan-to-value (LTV) ratios are a key factor, with 70-80% LTV being common.
4. Interest Rates and Fees
- Rates are higher for short-term loans and asset-based hard money loans. Rental property and commercial loans may offer more competitive rates.
- Fees often include an origination fee, closing costs, and sometimes prepayment penalties, depending on the loan type.
5. Application Process
- GoKapital’s real estate loan application process is streamlined and can often be done online, with faster approval for hard money and fix-and-flip loans. Required documents generally include property appraisals, purchase contracts, and possibly renovation plans.
Would you like details on any specific loan option or guidance on eligibility?
| Des Moines Cedar Rapids Davenport Sioux City Iowa City |
Ankeny West Des Moines Waterloo Ames Council Bluffs |
Dubuque Urbandale Marion Cedar Falls Bettendorf |
Waukee Marshalltown Mason City Ottumwa Johnston |
Fort Dodge Clinton Coralville Burlington Muscatine |