Need funding to grow your retail business?
Africa and in turn South Africa have fast become lands of opportunity for global brands, as they look to tap into our emerging markets for new business. This presents retailers and related service providers, both big and small, with many possibilities to expand and grow their business interests.
But in order to grow, they need financial support, which has traditionally been a hurdle for small business borrowers. They experience a complex and time consuming process, with stringent documentation requirements, onerous security obligations and decision times of up to 12 weeks; only to find that the majority of applications from this segment are being declined.
Retail Capital has introduced an innovative product, called a business cash advance, specifically for South African business owners of small to medium companies that may provide an answer to these problems.
The product allows small business owners to leverage an asset that the banks do not even consider; their future debit and credit card turnover. Simply put, Retail Capital will buy an amount of future card turnover, for a discounted price paid immediately. An agreed percentage of the future debit and credit card transactions are then passed over to Retail Capital, until the total amount purchased is realised.
Each advance is tailored to the specific needs, capabilities and turnover of the business, with no personal financial surety required from business owners. Applicants will be required to supply merchant information detailing card turnover and contractual agreement, recent bank statements and a copy of the mortgage/lease agreement. In addition, key references will be requested.
In order to qualify for a business cash advance, businesses will need:
• To have been operating for at least 6 months
• A track record of debit and or credit card turnover
• Have an established business location
Retail Capital is committed to facilitating business growth, through the provision of flexible and convenient funding solutions, based on joint success
Contact Retail Capital | Read a full version of this article
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| Retail Capital |
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Retail Capital has introduced an innovative new product, called a business cash advance, specifically for South African business owners of small to medium companies.
“A business cash advance is for business owners who accept credit and debit cards, who are looking for a way to improve or grow their existing business, but are unable to raise funding for this,” says David Lewis, CEO of Retail Capital.
A business cash advance has many benefits, but is notably simpler, more flexible and faster than traditional options. In addition, the daily pay over integrates seamlessly with existing business processes, making it quite convenient.
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