GENFIN is part of the Genfin Holdings Group which operates in SA and the UK. GENFIN offers business loans of up to R5 million and they pride themselves in having a quicker approval process than most traditional lending companies.
GENFIN states they understand the challenges that SMEs face and want to transform the lending industry. They promise to change the way business owners access finance through the introduction of smarter and faster lending solutions.
Business owners are able to submit their applications online, including providing their supporting documents. What sets GENFIN is they also give business owners a consultant to work with to help them with their application process. They boast a 50% repeat customer rate.
GENFIN charges interest on the outstanding balance of the loan over the life of the loan. There are no initiation, paperwork or administration fees. They have an online calculator where you can see the cost and repayment terms of your required loan amount.
You get assigned a consultant to help address any queries you may have during the lifetime of your loan, as well as assist with any further lending request you may have.
They require 12 month bank statements.
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