Kalamata Capital Review 2020


Kalamata Capital is a financial platform that provides a range of small business loan options. Although they focus on merchant cash advances and short-term loans for business owners with bad credit, they also offer equipment leasing, factoring, and inventory financing. Kalamata Capital can provide up to $750,000 in financing in as few as 24 hours.

In 2018, Kalamata Capital merged with merchant cash advance provider Kings Cash Group, and the new entity was named Kalamata Capital Group (KCG).[1] KCG provides approximately $300 million in capital each year to over 5,000 small businesses. The company has offices in Maryland, New York, and Florida.

Kalamata Capital Short-Term Loan Details

  • Variety of loan options
  • Low credit score requirements
  • Lower rates compared to other MCA lenders
  • High revenue requirement
  • Doesn’t report loan payments to personal or business credit bureaus so you can’t build credit
  • Lack of transparency
  • Loan Amount

    $25,000 – $750,000

  • Loan Terms

    6 – 18 months

  • Factor Rate

    1.12 – 1.28


  • Annual Revenue


  • Credit Score


  • Time in Business

    1 year

Kalamata Capital Borrower Eligibility

Kalamata Capital works with businesses in the following industries:

  • Retail, wholesale, ecommerce
  • Medical, dental, pharmaceutical
  • Trucking, construction, logistics
  • Restaurant, hotel, franchises

Eligibility requirements will vary based on the term, size, and type of financing that you’re looking for. In general, the larger the loan size and the longer the term, the more strict the requirements are.

Kalamata Capital requires borrowers to have a business bank account with a balance of at least $1,500 to qualify, with at least five monthly deposits and no more than seven non-sufficient funds (NSF) transactions or overdraws per month. If you’re applying for funding of over $300,000, you’ll also need to have used accounting software for at least a year. 

As far as tax liens, Kalamata Capital evaluates them on a case-by-case basis, but borrowers must be on a payment plan. Additionally, they require three years to have passed since discharge if you’ve ever filed for personal bankruptcy.

What You Need to Apply

  • 12 months of business bank statements
  • Two years of business tax returns
  • Most recent profit and loss statement
  • Most recent balance sheet
  • Certificate of good standing
  • Voided business check
  • Copy of driver’s license
  • Credit card processing statements (for merchant cash advances)

How to Get a Loan With Kalamata Capital

Here’s what you can expect during the application, underwriting, and post-funding processes when funding with Kalamata Capital.

Application and Underwriting Process

You can apply for a loan with Kalamata Capital either by calling them or filling out the questionnaire on their website. The questionnaire contains 12 basic questions about you and your business, such as your business’s address and the amount of financing you need. Once Kalamata gets this basic information from you, they’ll ask for supporting documents, which you can email to them or send in hard copy.

After receiving a complete underwriting package, Kalamata will review your bank statements and financial statements. They’ll also verify your business’s listings on online directories and social media. If you pass all the eligibility requirements, Kalamata will make you a loan offer, usually within just a few hours of receiving your underwriting package. If you accept the offer, it takes 30 to 60 minutes to receive a contract. Once you sign the contract, you should see the funds in your bank account within two to three business days.

Most lenders conduct a hard credit pull during underwriting, and so will Kalamata for borderline deals. However, if your financials easily surpass Kalamata’s eligibility requirements, then there’s no hard credit pull during underwriting, only after the contract is signed.

If you are denied for a loan or cash advance with Kalamata Capital, don’t worry. If you were denied due to your credit score, you can reapply as soon as your credit score increases beyond Kalamata’s required minimum. If you were denied for too many non-sufficient funds in your bank account, then you will need six months of “clean” bank statements.

Post-Funding Process

Kalamata Capital’s post-funding process depends on the size of the loan you’re applying for and the repayment term. The default repayment process mimics a merchant cash advance. This means Kalamata Capital will deduct a small percentage of every credit or debit card sale that you make. However, for small short-term loans, Kalamata also offers a fixed daily payment option. They’ll automatically debit the first payment from your account at closing. For larger longer-term loans, they offer a weekly debit option.

Kalamata lets you refinance existing debt, meaning that you can use the loan to pay off existing debt that might be more costly. However, they don’t allow you to stack multiple short-term loans from different lenders. That said, you are eligible to renew your funding with Kalamata once you’ve paid at least 40% of your outstanding loan balance on time.

At the moment, Kalamata Capital doesn’t offer an online account dashboard. To see the progress of your loan or obtain loan statements, you need to call your Kalamata Capital account manager.

Fees and Collateral

Compared to other short-term lenders, Kalamata Capital’s interest rates are actually on the low side. Business owners with below-average credit can get a pretty good deal through Kalamata Capital. Their average factor rate is 1.18 for a 12-month term loan. Most other short-term lenders charge factor rates above 1.3 for similar products.

Kalamata Capital also charges an origination fee that’s equal to 1% to 2% of the amount borrowed—which, compared to other short-term lenders, is on the low side.

All majority owners will also need to sign a personal guarantee (you’ll need at least 51% of your company’s ownership represented), and they’ll also file a blanket UCC lien on your business at closing. Kalamata Capital will take second position to a bank or factoring company.

Kalamata Capital Customer Service

Kalamata Capital has offices in Maryland, New York, and Florida. They can be reached by phone or by filling out a brief form on their website.

Kalamata Capital Customer Reviews

Kalamata Capital is accredited by the Better Business Bureau (BBB) and has an A-plus rating. While they have a few complaints, each one has been addressed by the company. 

In reviews across various online platforms, positive Kalamata Group reviews highlight the speed of the loan process and rates that are pretty reasonable compared to competitors. While customers acknowledge that their products are still expensive (as most merchant cash advances and short-term loans are), the speed and ease in which they received their funding made up for it.

On the flip side, negative customer reviews found that Kalamata’s website wasn’t transparent about cost or about the true range of their financing options. Taking a look at their website, it’s readily apparent that there is very little information there. If you do pursue funding with Kalamata Group—or any other lender, for that matter—be sure to carefully review any loan agreement before you accept it and compare rates and terms to what other lenders are offering to be sure you’re choosing the best loan for your business.

Top Alternatives to Kalamata Capital

Kalamata Capital

Fundera Score


Rapid Finance

CAN Capital

Reliant Funding

Fundera Score


Fundera Score


Fundera Score


Products Offered

Merchant cash advances; short term loans

Products Offered

Term loans; merchant cash advances

Products Offered

Term loans; merchant cash advances; equipment financing

Interest rates

Factor rates starting at 1.11

Interest rates

1.15 to 1.48 factor rate

Interest rates


Minimum credit score required


Minimum credit score required

No minimum

Minimum credit score required

Apply NowRead Full ReviewRead Full ReviewApply NowRead Full Review
Scroll to See Options

Frequently Asked Questions

Is Kalamata Capital in Fundera's Network?

Kalamata Capital is not in Fundera’s Lender Network. The Fundera team carefully vets all of the lenders in our network, and have determined that Kalamata Capital either doesn’t have the technology to work with Fundera or does not offer a financing product that competes with the other lenders in its product class. We suggest considering another lender in this product class.

See if you qualify for similar products in Fundera’s Lender Network.

View Article Sources
Senior Contributing Writer at Fundera

Priyanka Prakash, JD

Priyanka Prakash is a senior contributing writer at Fundera.

Priyanka specializes in small business finance, credit, law, and insurance, helping businesses owners navigate complicated concepts and decisions. Since earning her law degree from the University of Washington, Priyanka has spent half a decade writing on small business financial and legal concerns. Prior to joining Fundera, Priyanka was managing editor at a small business resource site and in-house counsel at a Y Combinator tech startup.

Read Full Author Bio