Merchant Business Cash Advance
The merchant business cash advance is perfect for retail traders, wholesalers or other merchants in the formal sector that have been trading for at least 6 months and need a cash advance to purchase stock, assets or who might need working capital to expand their businesses. It is a pre-requisite for the merchant to use a GetBucks Point of Sale terminal through which all proceeds shall be channelled towards settlement of the obligation.
- Existing businesses that have been operating for at least 6 months may apply for these cash advances. (start-up businesses do not qualify)
- 50% or more of your turnover must be from card transactions which are channelled through a GetBucks Point of Sale Terminal.
- Annual projected turnover must preferably exceed USD50,000.
- The business must be profitable.
- Provide us with the most recent Financial Statements / Management Accounts.
- Provide us with 6 months merchant POS (Point of Sale) statements.
- Provide us with your personal and business bank statements for the last 6 months.
- Facility Application letter on Corporate Letterhead stating the nature/type and amount of facilities being sought.
- Tax Clearance Certificate (Current)
- Provide us with a pro forma Invoice of what you want financed. (if applicable)
- Proposed security: Shareholder / Director’s guarantees / Title Deeds / Credit Insurance
- Statement of net worth for the directors (estimated values for Personal Assets and Liabilities.)
- Company Resolution to borrow (authorizing nominated company directors to borrow on behalf of the company).
- Memorandum & Articles of Association (copy).
- Certificate of Incorporation and or Business Operating License (copy).
- Aged Analysis of Creditors & Debtors
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