Frequently asked questions
DO YOU FUND START-UPS?
No. We require that our applicants have been operating in business for a minimum of 3 months before they apply.
WHO QUALIFIES FOR FUNDING?
Any registered South African business that has been operating for at least 3 months may qualify.
HOW CAN I USE THE FUNDING?
No one understands your business better than you do! Business funding can be used for any business related activities, from increasing working capital to boosting cashflow in slower months. All we ask is for you to use the funding to grow your business.
HOW MUCH FUNDING DO I QUALIFY FOR?
You may qualify for funding anywhere in the range of R15,000 to R1,000,000. After receiving your application, we assess your business and ensure that the funding you receive is tailored to what you can afford.
ARE THERE ANY UP-FRONT FEES?
We do not charge any up-front fees to our clients.
WHAT IS YOUR AVERAGE FUNDING TERM?
We offer short-term funding solutions for your business. The funding term can range anywhere from 6 weeks to 12 months, depending on the client’s needs and the outcome of their application.
DOES MY CREDIT RECORD MATTER?
No, we understand that not all businesses and people have perfect credit scores. We do look at credit scores, however we rely more on our internal affordability assessments to determine a business’s ability to secure business funding.
WHERE CAN I APPLY?
We have a fully online application process, which can be found by clicking here. Alternatively, should you wish you to be guided through your application from start to finish, give us a call on +27 10 594 5354, and we will assist you through the process.
HOW LONG DOES THE APPLICATION PROCESS TAKE?
We pride ourselves on an easy, fast application process. Your online application can be completed within 4 minutes if all the relevant documents are on hand. Once we have received a completed application, funding can be provided within 6 hours*.
I AM A CLIENT OF YOURS, CAN I EASILY RE-APPLY FOR FUNDING?
At GroWise Capital, we enjoy building long-standing relationships with our clients, and be a part of their journey to success. We understand that you may require funding today to boost your business in peak seasons, but you may need funding tomorrow when business is slow. Therefore, we offer an easy re-application process, once you are 80% settled up.
HOW DOES THE FUNDING WORK
Our funding deals are structured as business cash advances, whereby the agreed upon amount is serviced over the duration of the contract. Simply, your business receives funding up-front, which is serviced gradually over the duration of your contract with us.
WHAT IS A CASH ADVANCE
GroWise Capital provides your business with a lump sum of business funding up-front. In exchange for this lump sum, we purchase a percentage of your future business turnover, for the contract term, until the agreed sum is paid-up. This allows us to structure very flexible repayment terms with our clients.
HOW DO REPAYMENTS WORK?
We offer flexible repayments structures and methods designed around your individual business needs. Repayments are typically either daily, weekly or monthly. The most common methods of repayment include: Electronic Funds Transfer (EFT), Split Processing through your POS, and through debit orders.
WHAT MAKES GROWISE CAPITAL DIFFERENT?
At GroWise Capital, we understand that no two businesses were created equally and that every business has unique financial requirements. We fuse our progressive underwriting models with our understanding of human nature; and as a result we tailor our funding solutions to best meet our client’s needs. We accelerate the funds, you accelerate the growth
CAN I SETTLE UP EARLY?
Should your business find itself in a position where it no longer needs business finance, you may wish to settle-up early. We allow our clients to settle-up the agreed amount at any duration of their contract. No early-settlement penalties apply, and your business may even be entitled to a discount!
Your business may choose to settle up, and re-advance their contract, as it needs additional cashflow. Your business may receive a discount on early-settlement should they choose to refinance with us.