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GroWise Capital

Table of Contents
SME Reviews 1
Introduction

GroWise Capital is a South African funder focused on helping small and medium businesses grow through tailored business finance. Rather than a single off-the-shelf product, it aims to match funding to a company’s stage, sector and specific need.

Who it suits

This fits an SME looking for a funding partner that will consider its particular situation, whether that is working capital, growth finance or funding tied to a specific contract or order.

What you get

  • Business finance tailored to your stage and requirement.
  • A funder oriented towards growth rather than one rigid product.
  • Access to funding without necessarily giving up equity.
  • Local understanding of the South African SME market.

How the cost works

Because funding is tailored, terms and cost are quoted per application based on the amount, structure and your business, with the full cost confirmed before you accept.

Our take

A funder that tailors the structure can be valuable when your need does not fit a standard loan, for example funding linked to a big order. If that is you, also look at purchase order funding. Start a funding application with us and we will route qualifying businesses to the right partner through the Funding Desk.

Related: Working capital loans  ·  Purchase order funding  ·  Apply through the Funding Desk

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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