FAQ

Start With the Basics

Frequently Asked Questions

You can contact us by calling 0861 93 93 93 or info@bizcash.co.za 

8:00 to 17:00 SAST Monday to Friday, excluding Public Holidays.

We service the whole of South Africa.

Most definitely. Our online cash flow solution helps your business grow by ensuring you don’t have to wait 30, 60, or 90 days to get paid by your clients.

Through our selective invoice discounting solutions, we offer you advances on your unpaid invoices, as well as through our Business loans, we offer short term revolving loans. Thus, bridging cash flow gap and frees up your working capital, which you can then invest in growing your business.

The facility sizes being approved ranges from R20 000 to R3 000 000. Your credit facility depends on your business’s performance and is subject to credit vetting.

Regrettably not. We require a business to be operational for more than 2 years.

Unfortunately, not. We specialise in helping small and medium-sized businesses manage their cash flow challenges.

 

  • Your business has been in operation for more than 2 years.
  • Your business has an annual turnover exceeding R1 million.
  • Your business is profitable.
  • Your business generates debtor invoices to its clients.

Don’t despair. If your business circumstances change even slightly after a few months, give us a call and we will gladly re-evaluate.

You have the flexibility to choose your repayment terms from

  • Selective Invoice Discounting from 1 month to 6 months
  • Business Loans from 1 month to 12 months

Yes, we give you the following options of repaying either

  • Selective Invoice Discounting repayment options is either weekly or monthly
  • Business Loans repayment options is monthly

You then pay back the full value of the invoice weekly/monthly over your chosen term, giving you ample time to retrieve the money you are owed from your debtor and keeping your cash flow in a healthy state.

  • Selective Invoice Discounting product – We also charge a flat processing fee per invoice being discounted
  • Business Loans product – We also charge a 1% raising fee on the total value of the loan

No. Our pricing is once off, upfront and fully transparent. There are no hidden fees, no service charges, no overcomplicated repayment structures. The processing fee may vary, but you will always know the fee before you accept the offer.

Absolutely click on apply now to get started.

No, signing up to Bizcash is fast, free and fully automated/online.

Our simple online, automated lending platform enables swift decisions and instant payment transfer upon approval.

The documentation we require depends on the credit facility you request for your business. In general, in order to submit to our pre-credit committee, we would require the basics

  • 3 Months Bank statements
  • Latest financial statement
  • Latest management accounts
  • Latest Debtors Age Analysis
  • Latest Creditors Age Analysis

There is a possibility that additional information could be requested by the credit committee to better understand your business.

It takes on average 3-5 workings days to approve your business credit facility.

Your credit facility will be assessed upon receipt of your company’s financial information that is required to be provided.

Bizcash has made uploading your invoices effortless by partnering with leading accounting software systems, Sage One and QuickBooks Online (and are currently in the process of integrating with all other major accounting packages). To upload your invoices, access your outstanding debtor invoices by simply linking your accounting package to Bizcash, and then selecting and confirming which invoices you want discounted.

Yes. For companies that don’t yet use an accounting package, we have a manual upload function which is also quick and easy.

Requesting an offer for the invoices you want discounted is completely free. All you must do is decide how much cash you need and upload the customer invoices you want discounted, and Bizcash will generate a free instantaneous online offer. A processing fee will apply for all approved advances.

Funds normally take up to 48 hours to reflect, provided you confirmed your offer before our cut-off times.

You will receive an email 5 days before the debit order date reminding you that your debit order is due. Your account will be debited based on the terms you have selected.

Weekly Payment Terms: Each Wednesday of the week.
Monthly Payment Terms: The last business day of each month.

You would simply need to inform admin@bizcash.co.za of the reason and to what date the debit order needs to be moved to.

Unfortunately, there is an additional fee that would apply to move the debit order, however the amount will be provided to you straight away, for you to make an informed decision.

A consultant will contact you to make arrangements to rectify the default. Until the default is rectified, your account will remain suspended.

Having a credit facility with Bizcash is completely free. You only pay when you need the cash.

You can simply refer to the statement provided on your profile under (Quicklinks).

There are no fees, quite the opposite, we will actually pay you for the term not used, if the full facility used has been settled.

No, we simply use the invoice as an indicator that you will be collecting cash from your debtor in the near future.

No, your clients continue to pay you as usual.

Of course, you could simply request a business loans facility and use the funds for whatever you choose.

Yes. It could be you need business funding for procuring stock at a discount, expanding production, or hiring new talent. You know best, so we don’t judge.

Yes. As you pay back your monthly installment, your credit facility becomes available once again.

Entirely secure. Bizcash is financed by Alternative Finance Solutions, a member of the Preference Capital Group.

Absolutely, your information will only be used by our team to obtain an application result.

Bizcash is backed by Alternative Finance Solutions and part of the Preference Capital Group of companies.

Your information remains completely confidential and will not be disclosed to third parties.

No. The application process, documentation and uploading of your information is completed on-line.

Please visit our Pricing page to view the interest rates and terms available.

Your username will be your email address.

Possible Yes. This would be based on the financial documents received and is a credit decision which would be discussed with you direct by a consultant if needed.

Possible Yes. As we are partnering with you and investing in your business and this is based on a 50/50 partnership.

You can simply request a limit increase on your profile.

Depending on how much conduct of history we have on your company, updated document will be requested in order to increase the facility.

No, you don’t, you can apply at any time after 3 months of using the facility for a higher limit.

You would receive an answer within 3-5 working days, depending if additional documents were received if it was requested.

We do refer to credit bureaus to get a better understanding of how you have conducted your finances in the past and present.

Yes, as this would affect the decision of the credit committee on how much is granted and whether to proceed further or not and could result in a decline if its negative.

Unfortunately, not, the business would need to be reflecting a profit.

You can apply; however, the judgement would have had to be resolved or there needs to be a form of proof that it’s in the process of being resolved.