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FAQ

General
expand_more What do I need to qualify?

We offer a variety of financing solutions for small businesses. Minimum eligibility criteria includes:
* Annual revenue of R500,000.
* Minimum monthly turnover of R40 000.
* Your business should be operating for at least 12 months.

expand_more What is growth capital?

Growth capital popularly known as expansion capital and it is capital provided to companies that require money to expand operations or explore and enter new markets. So basically growth capital serves the purpose of facilitating target companies to accelerate growth. We have powerful predictve models that look at your revenue, ad performance and other third party data to generate funding offers. We don’t take equity, we don’t dilute your investors. Our offers are based on your marketing and business performance.

expand_more What informaton do you need to verify my business?

In order to provide you with an offer, we need to verify both your identity and your business. The first step is to provide us with your business and personal info and give us access to all your ad accounts (only viewing rights) you use to run your marketing – we use this as well as well as your revenue data to analyze your business health.

expand_more How long will it take to process the applicaton?

Provided we have all the necessary information, the assessment and disbursement can take place within 24 hours. The actual application process should take 4-6 minutes to complete. If you link your online bank account via TrueID (preferred option) or provide Internet bank statements and your ad account data, we will be able to process the application quickly. If we need to manually capture the bank statements, then our processing time depends on the volume of transactions.

expand_more What is the minimum and maximum term? Can I extend the term?

Our funding period is between 3 and 12 months. However, being a new client and trading for less than 2 years the system usually only allows a 6 month term. The 6 month term is much more flexible than 12 months. If you ensure that the re-payments are met on time you can apply for a re-advance in less than 4 months. Whereas our 12 month product will only allow a re-advance in approximately 8 months.

expand_more What if I want to settle early?

You are welcome to settle early and no penalties will be charged. All future costs associated with your advance will be waivered.

expand_more What is the minimum and maximum amounts offered?

Our funding ranges from R20,000.00 to R500,000.00

expand_more What makes us different to other lenders or banks?

Our process is much faster and completely online:
* We provide growth capital for businesses to fund their online marketing activities.
* We do not charge admin and initiation fees.
* Our costs are transparent and agreed upon upfront.
* There are no penalty fees for settling early.
* Funds are disbursed within 48 hours of submitting your application. Provided all documents are in order.

expand_more What are the requirements to apply for funding?

We require that your business has a minimum monthly turnover of R50,000.00 as well as an annual turnover of at least R600,000.00 and it must be actively trading for at least one year.

expand_more What interest rates do you charge?

Our funding is not linked to any interest rate calculation. Our fees are fixed at 3% per month.

expand_more What would my instalments be?

The accurate amounts would be dependent on your application outcome, but if you navigate to the loan calculator page you can view a breakdown based on average risk.

expand_more How do your repayments work?

Monthly costs are 3% of your advanced amount either for 6 or 12 months.

expand_more Can I refinance my growth capital before I have repaid all my instalments?

Yes you may apply for a new re-advance. Please contact a consultant to discuss your re-advance options.

expand_more Do you offer personal loans?

Unfortunately not. We only offer business funding to registered South African companies, close corporations and sole proprietors who are VAT registered.

expand_more Can I apply for funding for a start-up or new business?

Unfortunately, no you need a successful trading history of at least 1 year, as well as a turnover of at least R500,000 per year to qualify for our business funding.

expand_more What would my instalment and costs be for the facility?

Check out our loan calculator page for a indication of how the repayment schedule will work. Be sure to calculate your ROI as well on the same page.

expand_more Can I come to your offices to complete a form?

No, we are an online business and only accept applications via our website.

expand_more How do I sign the legal agreement?

Once you have accepted our quotation, we will send your legal agreement via Quickly sign. You and two independent witnesses will then need to digitally sign the agreement on the same PC/laptop.

expand_more What happens if I am late with my payments?

You will receive an email notification that the debit order was unsuccessful and will subsequently be contacted by our collections department. A late payment fee will be charged, if no action is taken to settle the outstanding amount we will then proceed with legal action.

truID
expand_more What is the truID service?
truID is a consent driven platform enabling consumers to securely connect with their Bank thereby facilitating the safe and convenient sharing of their information.
In strict compliance with PoPIA, truID will only share information that the consumer has granted consent for. The service is free and can be completed in under 1 minute.

In 3 simple steps connect your account:
  • Step 1: Approve & grant Consent
  • Step 2: Verify your identity with your Bank
  • Step 3: Authorise information to be shared
Is it Safe?
  • truID employs a privacy & security principle by design
  • truID guarantees the highest level of security when connecting you to your Bank
  • truID acts as a proxy between the customer and the bank
  • Your private information is not visible, stored or shared with anyone

For more information please visit www.truID.co.za
expand_more How long will it take to process the application?

Provided we have all the necessary information, the assessment and disbursement can take place within 24 hours. The actual application process should take 4-6minutes to complete.