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GroWise Capital

Table of Contents
SME Reviews 1
Introduction

Getting funding for your business is not always easy. Pesky application forms and long waiting periods make getting funding not easy for small businesses. To make things easier, GroWise Capital has a funding platform that is designed to help SMEs get funding easily and quickly.

Founded in 2020, GroWise Capital is a financial services company that provides funding to small and medium-sized enterprises (SMEs). According to its website, the company has big focus on helping entrepreneurs and fast funding.

What Does GroWise Capital Provide for SMEs?

The company provides SMEs with cash up-front for their businesses. GroWise offers flexible repayments and loan terms. Simply put, GroWise tailors its funding for your business.

The application process on GroWise Capital is quick. The company says that it takes less than 4 minutes to fill in the application form. You apply online with just a few documents and your personal information. If everything is in order, GroWise says funds can be released quickly.

GroWise Capital Funding 

GroWise Capital lists three funding options on its platform: cash advances, merchant cash advances and merchant stock advances. The company advertises funding of between R15,000 and R3 million — confirm the current limits and terms directly with GroWise.

Main Features

Easy Online Application – Apply online under 4 minutes.

Quick Approval – Your application is approved within hours after you have applied.

GroWise Capital Cash Advance

Cash advance is money used to expand your business. GroWise Capital’s cash advance option allows you to expand your business without worrying about your business. GroWise Capital defines its cash advance product as a purchase of your company’s future-based income streams. GroWise uses this model to customise your cash advance and help you determine where to invest your funds.

GroWise Capital Merchant Cash Advance

A merchant cash advance allows SMEs to access funding quickly without going to traditional loaning practices. The GroWise Capital merchant cash advance is calculated as a purchase of future income streams. The company offers flexible repayments which are deducted directly from your merchant account.

The GroWise merchant cash advance is a personal loan, so none of your assets will be attached to the loan. The loan is based on your credit and debit card sales which are deposited into your business account.

GroWise Capital Merchant Stock Advance

A merchant stock advance allows you to leverage your existing stock as collateral for your funding. With GroWise Capital’s merchant stock advance, you are guaranteed flexible repayments to fit your business. GroWise Capital helps you buy the stock or inventory and then sell it back to you.

Pricing

GroWise Capital Funding Requirements

GroWise makes funding easier for SMEs by making the qualification requirements easy. GroWise Capital does not ask for any financial documents or management statements. To apply for funding from GroWise, you need the following:

  • Your business must be registered with the Companies and Intellectual Property Commission (CIPC).
  • Your business must be operating for a minimum of six months or more.
  • You must have an active and valid business banking account.
  • Your business must have an average monthly turnover of over R 50 000.

GroWise Capital has funding from R 15 000 to R 3 million. Once your application has been assessed, the company will check your business to ensure the funding you applied for is right for you. If GroWise Capital has checked your business and everything is in order, you will receive your money.

GroWise Capital does not charge any up-front pre-approval fees to its clients. If you want the funding and you qualify, you will receive your money.

How to Apply for GroWise Capital Funding?

All funding applications for GroWise Capital are done online. Simply click on which type of funding you want (cash advance, merchant cash advance or merchant stock advance), fill in the form and click apply.

Alternatively, if you want to speak to a GroWise Capital consultant, you can call (+27)10 594 534 and a GroWise team member will help you with the funding application process.

GroWise Repayment Structure

GroWise has flexible and uncomplicated repayment terms. The methods are designed around your individual business needs. Additionally, repayments are either daily or weekly via debit order. GroWise says the reason for its flexible repayment terms is to make it easier for SMEs and entrepreneurs to focus on their business.

GroWise Capital Early Settlement

GroWise Capital has an early settlement option. Should you find that your business is doing well and want to repay your loan early, GroWise allows you to do so. The company does not have early-settlement penalties and you may be entitled to an early-settlement discount.

Pros and Cons

Pros

Flexible repayment terms.
Custom funding options for your business needs.
Quick approval rate.

Cons

Not many funding options.
Limited amount of funding capital available.
FAQs

GroWise Capital offers funding terms which range from 6 weeks to 12 months. The repayment terms also depends on your needs and the outcome of the application.

GroWise Capital does take credit scores into consideration when looking at your affordability. This helps GroWise see if you can afford to pay back the loan.

You can apply online for GroWise Capital funding. Or you can call 010 594 5354 to speak to a GroWise team member who will help you with your application process.

Yes, GroWise Capital does allow you to re-apply for funding. If you have paid-up 80% of your current loan, you can apply for another one online.

GroWise Capital provides your business with a lump sum of funding up-front. in exchange for the cash, GroWise Capital will purchase a percentage of your business’ future receivables for the contract term. The percentage is taken until the agreed sum is paid-up.

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Important — Please Read Before Applying

  • This funding is strictly for registered businesses with a valid CIPC registration number.
  • Your business must have an active business bank account. Applications using personal accounts will not be accepted.
  • Minimum monthly turnover of R50,000 for the past six (6) months.
  • This is not personal funding and not a grant.

Applications that do not meet these minimum requirements will unfortunately not be processed.

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