• A trading history of more than 12 months
  • An annual turnover of more than R1million

Complete this contact form and we will contact you to structure your funding solution.

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For more information about applying for a Genfin business loan, read through our FAQ’s.

Find out exactly how a Genfin business loan works, by going through the FAQ’s listed in this section.

Applying for business loans from genfin

How does a genfin business loan work?

  • What is the term of the loan?

    Our default repayment period is six months; however, if you require a shorter or longer term loan we can structure anything from a one month bridge loan up to a twelve month loan.

  • Can I settle the loan earlier or extend the repayment term?

    We remain flexible to your business needs. You can contact your consultant at any time to discuss alternative repayment terms, be it an early settlement or re-financing over a longer period.

  • Can I access additional funds during the term of my loan?

    Once you have repaid more than 50% of your loan you can access additional funds. We will refinance your loan, rebate 100% of your outstanding interest on the original loan and issue a new loan for the amount so that you always have the simplicity of a single loan. You will receive a monthly statement showing the balance outstanding as well as the amount available to you.

  • How does repayment work?

    We submit a weekly or monthly debit order to your bank account.

  • What does it cost?

    We calculate a fixed once-off interest charge between 5% and 40%, upfront on the loan amount. The interest charge is paid in equal instalments over the term of the loan. Where the repayment period is longer and/or the risk of the applicant higher, the fixed interest charge could be up to 40%. Similarly, for shorter repayment periods, low risk applications and/or larger amounts the interest charge could reduce to 5%. As long as your account is not in arrears, there are no other charges.

     

    Please use our payment calculator to see the cost and repayment terms for your required funding amount.

  • How does our application process work?

    You can either:

    Apply online using our simple four step application process or,

    Call Genfin where a consultant will help you complete your application telephonically.

    Once the application process has been completed, your dedicated consultant will request you to submit certain documents for evaluation. Once approved, pay-out into your bank account is immediate.

  • Who will assist me at Genfin?

    When you apply, we will allocate a dedicated Genfin consultant to work with your application. Your consultant will address any queries you may have during the lifetime of your loan and assist with any further lending request you may have.

  • How long will my application take?

    For all approved loans, funds will be available within a week from the date Genfin receives the required supporting documentation.

  • What does Genfin consider when evaluating an application?

    We take a number of factors into account when structuring your funding solution and determining the interest charge. There is no simple formula, but we work in 4 categories to determine an overall score.

    Business Stability

    • Cash flow health
    • Years in business
    • Lease status
    • Seasonality
    • Customer concentration

    Financial Metrics

    • Revenue
    • Profitability
    • Growth
    • Margins

    Credit History

    • Amount of debt
    • Type of debt
    • Debt servicing history

    Security (only if insufficient score in other categories)

    • Outstanding invoices
    • Large contracts
    • Property
    • Other
  • What type of documents are required?

    This will be determined by the nature of the applicant. We would typically require documents such as bank statements, a lease agreement, certificate of incorporation and management accounts.

  • Can I apply for a loan for a new idea or start-up business?

    We require at least one year of trading history and a turnover of more than R1m.  As a start-up business, these criteria would not be met.  Where a business already meets these requirements, however, and wishes to pursue a new idea within the business, the expansion programme would be eligible for assistance from Genfin.

Phone 087 6544 300

Physical address

Waterfront Terraces  | Unit 4&5 First Floor | 3 Waterfront Road |  Tygerwaterfront  | 7530

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