Betterbanc offers growth capital to fund businesses to expand operations, expand into new markets, or increase inventory budgets.
Their funding amounts range from R20,000 to R1000,000.
According to their website, the funds can be disbursed within 48 hours of submitting your application – provided that all documents are in order.
You may apply for a re-advance.
Betterbanc provides 6 and 12 month repayments. Their funding is not linked to any interest rate calculation, they apply a fixed fee to their advances of between 1.7% and 3%.
An example of how this works, on a R20,000 loan, your total repayment amount will be R23,400 on their six-month term plan and R26,800 on the 12-month term plan.
You can get an estimate of how much you will pay back by using their funding calculator.
Good payers may apply for a re-advance in less than four months. However, those with the 12-month repayment plan can only apply for the advance by the eighth month.
There are no interest rates nor penalties charged. The total monthly repayment is based on fixed cost (the Betterbanc fee and the Principal amount).
They are an online business and only accept applications via their website.
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