How it works
what to expect when applying for finance …
Here are some quick take-aways of what to expect:
As an alternate funder, focussed 100% on SMEs, our whole approach is designed for entrepreneurs.
Our turnaround from application-to-payout averages 10 days.
Our Credit Committee interviews you in person to properly understand you, your business & your plans.
Simply apply online right here or contact us and we’ll email you our app form & list of required documents. Once you’ve sent us everything – then we’ll start our credit process.
A Credit Analyst will assess your info. If there are any concerns or clarity/context required then they will contact you – to assist in moving your finance application to the next step.
Usually 24-72hrs, depending on your availability.
We do financing that backs entrepreneurs. That means backing you – ‘the jockey’.
This is a critical part for 2 reasons:
- The financial/business info for an SME is often insufficient to justify the financing. So we need to draw alternate comfort by meeting the entrepreneur.
- As we don’t believe in requesting business plans – the interview with the entrepreneur allows us to get an appreciation for their business model, strategies and vision.
This happens either in-person or via a Skype video call.
Once approved:
- Finance Term Sheet, finance agreement and related docs are sent to you for electronic signing on your mobile or laptop.
- You’ll need to email your relevant compliance docs [e.g. Company Reg. docs, etc.].
- For your FICA docs – our mobile app makes it pain-free & convenient
Usually very quick, but depends on your responsiveness.
Once our compliance people check that all the paperwork is good-to-go then we proceed to pay-out.
Pay-out is usually same/next day [for working capital finance].
min and max amounts?
- Generally we prefer to finance amounts from R500 000 at the lower end to R15 million at the top for routine & run of the mill needs
- However, as an exception, we can consider amounts above R15 million for more structured/specialised needs – we even do larger amounts than this using revolving finance facilities and custom built finance solutions
what you’ll need …
Completed & Signed application form
Last two years sets of Annual Financial Statements (AFS)
Latest Management Accounts
Last 3 months bank statements
Debtors & Creditors Analysis
Personal Assets & Liabilities (of all shareholders)
Overdraft facility agreement (if applicable)
Key contracts/projects/etc. (if applicable)
need more info or want to get started?
making the effort to understand you