You can either apply online within minutes OR call GENFIN and a consultant will help you complete your application telephonically.

Once the application process has been completed, your dedicated consultant will request you to submit certain documents for evaluation. Once approved and your loan agreement has been signed, pay-out into your bank can be done that same day.

When you apply, we will allocate a dedicated Business Funding Analyst (BFA) to work with your application. Your BFA will address any queries you may have during the lifetime of your business funding solutions, as well as assist with any further lending requests you may have in the future.

For all approved business funding applications, funds will be available within 3 days from the date GENFIN receives the required supporting documentation.

We take several factors into account when structuring your funding solution.  There is no simple formula, but we work in three categories to determine an overall score.

• Business Stability
• Financial Metrics
• Credit History

We require at least one year of trading history and a turnover of more than R1 million. As a start-up business, these criteria would not be met. However, where a business already meets these requirements and you wish to pursue a new idea within the business, the business would be eligible for assistance from Genfin.

We do not provide funding to purchase an existing business, even if it has been trading for at least a year. We primarily look at the past operations of the business to make a funding decision – past operations may not necessarily be indicative of future operations following a change in management. We would therefore prefer that management has been running the business for at least 6 months.

What is this Direct Bank Connection?

We use a third-party provider who uses an automated process with bank-level security to pull transactional data from your bank account(s) and instantly provide these to us. This completely removes the need for you of locating your 12 months of bank statements and thereby fast-tracking your application.  We only require the bank statements of the company which you are authorised to represent and therefore we do not require your personal bank statements.

Why do I have to provide my online banking information and what does GENFIN do with it?

When providing your online banking username and password details, the system uses these to log into online banking on your behalf, without human intervention, and securely retrieve your bank transactions for the last 12 months.  GENFIN does not receive, store, or have access to your login credentials. Our third-party provider does not store login credentials and all traces of the details are destroyed after the login process is complete.  Bank-level security protects your information.