If you are a business owner, you will know that there are times when your business proceedings are slower and less profitable. These ‘down times’ are experienced by most small to medium companies from time to time. This is especially common in retail or manufacturing industries with large order sizes, since one often has to order and pay for inventory or materials months in advance, even when you do not necessarily have the cash at hand. During these times, the outgoing cash in your business due to supplier and other payments may exceed your incoming cash revenue and debtor collections. Short term cash flow shortages are not uncommon in these cases. An effective way of dealing with this problem, is to apply for funding through short term loans.
Genfin offers short term loans of up to 50% of your monthly revenue. We structure all repayments over 12 months and ensure that your repayment does not exceed 5% of turnover. You can however deposit additional capital at any point to reduce your interest charge and shorten the repayment period of your business loan. You can access funds by redrawing additional repaid capital at any time.
If your business has been in trade for 12 months or more, and you have a turnover larger than R1m a year, you can qualify for our short term loans. All you need to do to set the process in motion, is complete our application form.
If your business is in need of financing, for whatever reason, do not hesitate to apply for a loan. Complete our online application and one of our consultants will contact you.