Many firms need additional money to grow or meet operational needs of their customers and clients. Owners seek business funding to expand inventory, hire more employees, improve cash flow, and upgrade company equipment. These companies may believe that traditional bank loans and overdrafts are their sole options in South Africa.
However, now thanks to business-loans.co.za, you can get a loan in no time thanks to their easy online system. No more banks, partner with a team who understands what it means to be an entrepreneur!
Minimum Requirements and Terms
To qualify for a loan from a business lender, the business must:
- be registered as a CC, PTY, or Trust
- have been in operation for at least 12 months
- generate R1,000,000 in yearly revenue
These requirements are set in stone, but once you prove you meet the requirements, you will be on your
way to getting your funding needs met. Business loans in South Africa have become easier to get thanks to the help of sites like business-loan.co.za. Here you can easily apply and get approval for your unsecured business loan, with their straightforward online application system.
Loan Application Process
You need to have your bank statements from the past six months and your business registration number to apply. Fees are often based on income and loan term. There are no hidden costs, and you will be fully informed of all fees during the application and approval process.
You’ll be given a loan based on your business funding needs and the business loan amount you qualify for. On business-loans.co.za you will be able to find lenders who specialize in funding particular objectives like inventory,
equipment, or other business assets. They will also have various loan options from cash advances, business funding, bridging loans and credit facilities, along with equipment and inventory finance. Loan repayments vary, but are usually over a 6 – 60 month period. Some lenders allow weekly payments instead of monthly if that is more convenient.
What To Consider
A few questions to consider yourself before seeking an unsecured business loan to determine which
business lending solution is best for your business:
- What do you need the business loan for?
- What costs do you need to take into account?
- Do you meet all of the requirements? (Revenue of over R1 million per year, operating for
more than 12 months, are a registered CC, PTY, or Trust.)
- How much money can you afford to repay every month?
When you are confident an unsecured business loan is the right solution for your business, please submit the application form and our lenders will be in contact with you shortly.