Understanding Bizcash’s Requirements

When seeking a loan to fuel your business’s growth, understanding the lender’s requirements is paramount. Bizcash, a leading alternative finance company in South Africa, has established specific criteria to ensure a successful partnership between the lender and the borrower. These requirements may seem stringent to some, but they play a vital role in mitigating risks and maximising the potential for mutual success.

Why 2 Years of Successful Trading?

A two-year track record of successful operation is a cornerstone of Bizcash’s lending criteria. This requirement provides several key benefits:

• Financial Stability: Two years of consistent business activity demonstrate a company’s ability to weather economic fluctuations and maintain financial stability.
• Risk Assessment: This period allows for a thorough assessment of the business’s financial performance, including revenue, expenses, and profitability, enabling Bizcash to make informed decisions regarding loan eligibility.
• Future Potential: A successful two-year history suggests a solid foundation for future growth and increases the likelihood of the business’s ability to repay the loan.

Why a Turnover of R1 Million or More?

A higher turnover is another essential factor considered by Bizcash. This requirement offers several advantages:

• Scalability: A turnover of R1 million or more indicates a certain level of business maturity and suggests potential for future growth and expansion.
• Repayment Capacity: A higher turnover generally correlates with a greater capacity to repay a loan, reducing the risk of default.
• Investor Confidence: A higher turnover can also attract investors and enhance the business’s overall credibility.

Why Debtors and a Facility of R50k to R3 Million?

Debtors often serve as collateral for loans, providing a layer of security for the lender. Bizcash requires businesses to have debtors and offers a facility range of R50k to R3 million. This range is carefully chosen to align with the specific needs of South African SMEs and ensure that the loans provided are both manageable and beneficial.

The Advantages of Partnering with Bizcash

Bizcash, as a private alternative finance company, offers several advantages over traditional banks:

• Flexibility: Bizcash can often provide faster decisions and more flexible loan terms compared to traditional banks, tailoring solutions to the unique needs of each business.
• Specialised Expertise: Bizcash has a deep understanding of the South African SME landscape and can offer tailored advice and support.
• Proven Track Record: With over 7 years of experience and having lent over R1 billion to South African businesses, Bizcash has a proven track record of helping SMEs achieve their goals.

By adhering to these requirements, Bizcash can confidently offer loans that are mutually beneficial for both the lender and the borrower. If you’re a South African SME seeking a flexible and reliable financing solution, consider partnering with Bizcash.

If you need funding for your innovation, get in touch with us at 0861 93 93 93. Email us at info@bizcash.co.za or contact us here.

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