FAQ

Questions and Answers

What is Business Finance Now and what do you do?

Business Finance Now works with a network of funders to offer short-term funding solutions for businesses like yours. We can help you secure working capital to cover expenses, improve your business, or manage cash flow.

What are my financing options?

We primarily offer merchant cash advances, which are not loans. Instead, they are a purchase of a portion of your future sales. Repayment is typically made through fixed debit orders, rather than fluctuating interest rates.

What are the benefits of using Business Finance Now?

  • High Approval Rates: We boast the highest approval rate in South Africa for short-term business funding.
  • Fast Funding: Get approved in as little as 2 hours and receive funds within 24 hours (upon approval and contract signing).
  • Flexible Terms: Repayment terms can range from 3 to 24 months, with fixed debit orders tailored to your business needs.
  • Minimal Documentation: We only require basic information to get you started.
  • Help for Businesses with Lower Credit Scores: We can connect you with funders who are willing to consider businesses that might not qualify for traditional bank loans.

How much does it cost?

The cost of a merchant cash advance varies depending on your business risk and the terms of the agreement. Typically, it ranges from 2-4% per month.

How long does the application process take?

The application process can take from 1-3 business days.

What kind of information do I need to provide?

We typically require basic information like shareholder IDs, company registration documents, and bank statements. In some cases, you may also need to provide management accounts and financials.

What are the benefits of using a broker like Business Finance Now?

  • Free Service: There is no cost to use our service.
  • Expert Help: Our brokers will handle the entire application process for you, saving you time and hassle.
  • Better Rates and Terms: We can leverage our partnerships to negotiate better rates and terms than you might get on your own.
  • Access to Top Funders: We work with the best merchant cash advance companies in South Africa.

Do I need to be a registered financial advisor to use a merchant cash advance?

No. Unlike traditional loans, merchant cash advances are not considered loans. They are a purchase of your future receivables.

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