Retail Capital

About

Retail Capital focuses on providing alternative lending solutions for small and medium sized businesses. 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 Advance.

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 provide business owners, including industry insights and access to other SME services through their partner networks.

Features

• Type of funding – they offer 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 R30,000 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 – they offer 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 business owner ID(s), the most 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.

Pros

Flexible repayment options. They also offer a discount to the balance of your fees pro-rata when you settle early. There are tax benefits when you take out an asset finance loan.

Cons

There is no financing calculator on the website, you need to register online or book an appointment to get a quote.