Where does the money come from?
Each of our funders has different sources of funding. Some have large institutional backing; some are self-funded and others have strong investors.
How long does it take?
Once a full application is received, We have funders that take 2 hours to approve, others up to 3 days and some 5 days, Depending on the urgency of the requirement please speak to a Get Funds agent so we can advise the options. After approval is given, a contract can be issued and paid […]
Is merchant cash advancing a registered FSB?
No merchant cash advising is not required; it does not provide personal finance and only deals with businesses that have over 1 million Rands in annual revenue or assets value. Furthermore, merchant cash advances are not legally a loan, its a buy-and-sell agreement of future receivables. So you wouldn’t need to be a registered FSB […]
Can I access money if I haven’t been trading for less than 12 months?
How much do I qualify for?
Merchant cash advancing is divided into three qualifying mandates. Some funders qualify you for 100% of monthly revenue as a cash advance, some 70% and others qualify you for your monthly average revenue multiplied by your GP%. Please Speak to a Get Funds broker and we will submit your application according to the amounts you […]
Can the MCA be paid into a different account from the one applied to?
The funders will always want to debit an account they do their due diligence on, they cant debit bank accounts that they haven’t scored for affordability.
Can the repayments be deducted from a different account than the one supplied in the application?
Yes, we can do that. If we get the request in writing
Can I pay more than my schedules repayments?
Unfortunately, not. However, higher repayments can be arranged to reduce the term of the advance.
Do you need security?
Merchant Cash Advances are unsecured, meaning no collateral is required. Your business revenue serves as the basis for the advance, eliminating the need for assets as security.
What is the interest rate?
Merchant cash advances don’t operate on traditional interest rates. The cost is a fixed fee or markup, determined by factors like risk and term.
