Retail Capital

Aug 2, 2021

Introduction

Retail Capital, a division of TymeBank, focuses on providing alternative lending solutions for small and medium-sized enterprises (SMEs). To qualify for financing your business must have been operational for at least six months, and you need to meet their turnover criteria. The financial instruments they offer are Cash Advances.

Funds are made available within 48 hours once your application is approved and funding amounts are tailored to each business’ requirements. Retail Capital offers flexible payment options – you can opt for a fixed amount or a percentage of your turnover.

Retail Capital is well suited for businesses in a range of sectors, including, restaurant, retail, wellness and medical industries.

Retail Capital is also known for the free insights and tools they provides business owners, including industry insights and access to other SME services through their partner networks.

Main Features
  • Type of funding – The company offers cash advance. The funding is unrestricted which means it can be used for whatever your business needs..
  • Qualifying criteria – To apply for the cash advance, your business needs to have a turnover exceeding R50 000-R5 000 000 per month, a trade history of at least three months, and a minimum of six months business ownership. Their business funding is unrestricted, which means there is no limit to how you can make use of the funds in your business.
  • Payment terms – Retail Capital offers flexible repayment terms. Business owners can select to repay a  fixed amount or opt for a percentage of turnover to be collected. Payments can be made on daily or weekly basis. Fees are calculated based on your turnover, the duration of the loan and how often you would like to make payments. For Asset Finance the repayment period ranges between 12 and 60 months.
  • Application process – To apply, register online and create a profile, or alternatively, you can book an appointment. There is very little documentation required and in some instances the full application only requires bank statements, 4 click-application process and same day disbursements. Documentation needed is a copy of the business owner(s) ID(s), recent six months bank statements, the title deed or latest bond or rental statement for your business, and a recent main supplier statement
Pricing

Repayment premiums are based on turnover, the duration of the loan and how often you want to make payments. Payment options are flexible – from daily, weekly to monthly payments.

For the Asset Finance, you can choose the financing period; you can get tax benefits including, either claim the interest and depreciation allowances or the rental expense over the term of the agreement.

Business owners can opt to settle early and get a discount on their fee balance.

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Pros

  • Flexible repayment options.

  • Discount to the balance of your fees pro-rata when you settle early

  • Tax benefits when you take out an asset finance loan.

Cons

  • Shorter Loan Terms

  • Limited Loan Products

FAQs

Retail Capital offers funding solutions to a wide range of established South African businesses but may have specific criteria for industries or business models.

The required documents may vary depending on the loan amount and type but generally include basic business information, financial statements, and ownership details.

Retail Capital prides itself on a fast and efficient application process. Approval times can vary based on the complexity of the application, but they often aim to provide a decision within a few business days.