FAQ

When it comes to solving your business cash flow problems and securing finance fast, it’s vital to make an informed decision.

We’ve answered some of the most commonly asked questions to aid you in that task.

Contact Details

Physical Address
Debtsource Place
299 Pendoring Office Park
Pendoring Road
Blackheath
2195

What are your contact details?

Our phone number is 011 348 700 or you can email us on bizcash@debtsource.co.za

What are your operating hours?

8:00 to 17:00 SAST Monday to Friday, excluding Public Holidays.

I have business cash flow problems and debtors that don’t pay me fast enough. Can you help?

Most definitely. Our online cash flow solution helps your business grow by ensuring you don’t have to wait 30, 60, or 90 days to get paid by your clients.

How does my business benefit?

Through our selective invoice discounting solutions, we offer you advances on your unpaid invoices, as well as through our Business loans, we offer short term revolving loans. Thus, bridging cash flow gap and frees up your working capital, which you can then invest in growing your business.

What size business loan or selective invoice discounting facility can I get from Bizcash?

The facility sizes being approved ranges from R20 000 to R3 000 000. Your credit facility depends on your business’s performance and is subject to credit vetting.

Can Bizcash give me a business loan to start a new business?

Regrettably not. We require a business to be operational for more than 2 years.

Can Bizcash give me a personal loan?

Unfortunately, not. We specialise in helping small and medium-sized businesses manage their cash flow challenges.

What are the requirements for my business to qualify for a business loan or selective invoice discounting facility?

  • Your business has been in operation for more than 2 years.
  • Your business has an annual turnover exceeding R1 million.
  • Your business is profitable.
  • Your business generates debtor invoices to its clients.

What if my application is unsuccessful?

Don’t despair. If your business circumstances change even slightly after a few months, give us a call and we will gladly re-evaluate.

What is the duration of my Bizcash business loan or selective invoice discounting facility?

You have the flexibility to choose your repayment terms from

  • Selective Invoice Discounting from 1 month to 6 months
  • Business Loans from 1 month to 12 months

Can I choose the repayment terms of my business loan or selective invoice discounting facility?

Yes, we give you the following options of repaying either

  • Selective Invoice Discounting repayment options is either weekly or monthly
  • Business Loans repayment options is monthly

What fees do we charge?

You then pay back the full value of the invoice weekly/monthly over your chosen term, giving you ample time to retrieve the money you are owed from your debtor and keeping your cash flow in a healthy state.

  • Selective Invoice Discounting product – We also charge a flat processing fee per invoice being discounted
  • Business Loans product – We also charge a 1% raising fee on the total value of the loan

Are there any hidden fees?

No. Our pricing is once off, upfront and fully transparent. There are no hidden fees, no service charges, no overcomplicated repayment structures. The processing fee may vary, but you will always know the fee before you accept the offer.

Can I apply online?

Absolutely click on apply now to get started

Are there any sign-up costs?

No, signing up to Bizcash is fast, free and fully automated/online.

How long is the application process? Is it easy to apply for a business loan or selective invoice discounting facility?

Once your business registration has been approved as well as the credit facility, you can apply in minutes. Our simple online, automated lending platform enables swift decisions and instant payment transfer upon approval.

What documentation is required to be approved for a Bizcash business loan or selective invoice discounting facility?

The documentation we require depends on the credit facility you request for your business. In general, in order to submit to our pre-credit committee, we would require the basics

  • 3 Months Bank statements
  • Latest financial statement
  • Latest management accounts
  • Latest Debtors Age Analysis
  • Latest Creditors Age Analysis

There is a possibility that additional information could be requested by the credit committee to better understand your business.

How long until my credit facility is approved after submitting the required documentation?

It takes on average 3-5 workings days to approve your business credit facility.

How much do we qualify for?

Your credit facility will be assessed upon receipt of your company’s financial information that is required to be provided

Is it simple to upload an invoice using the Bizcash system?

Bizcash has made uploading your invoices effortless by partnering with leading accounting software systems, Sage One and QuickBooks Online (and are currently in the process of integrating with all other major accounting packages). To upload your invoices, access your outstanding debtor invoices by simply linking your accounting package to Bizcash, and then selecting and confirming which invoices you want discounted.

Can I upload my invoices if my business doesn’t use an accounting package?

Yes. For companies that don’t yet use an accounting package, we have a manual upload function which is also quick and easy.

Is there a fee to request an offer on my debtor invoices?

Requesting an offer for the invoices you want discounted is completely free. All you must do is decide how much cash you need and upload the customer invoices you want discounted, and Bizcash will generate a free instantaneous online offer. A processing fee will apply for all approved advances.

Once I confirm my offer, how long will it take for the cash to reflect in my bank account?

Funds normally take up to 48 hours to reflect, provided you confirmed your offer before our cut-off times.

How will I know when to pay Bizcash?

You will receive an email 5 days before the debit order date reminding you that your debit order is due. Your account will be debited based on the terms you have selected.

On which days will my account be debited?

Weekly Payment Terms: Each Wednesday of the week.
Monthly Payment Terms: The last business day of each month.

Can I change my debit order date?

You would simply need to inform admin@bizcash.co.za of the reason and to what date the debit order needs to be moved to.

Are there additional fees if I move the date of my debit order?

Unfortunately, there is an additional fee that would apply to move the debit order, however the amount will be provided to you straight away, for you to make an informed decision.

What will happen if a debit order bounces?

A consultant will contact you to make arrangements to rectify the default. Until the default is rectified, your account will remain suspended.

Do I need to pay even if I don’t use my facility with Bizcash?

Having a credit facility with Bizcash is completely free. You only pay when you need the cash.

Where would I find the total amount due if I wanted to pay the facility early?

You can simply refer to the statement provided on your profile under (Quicklinks)

Are there additional fees if I wanted to repay early?

There are no fees, the opposite, we will actually pay you for the term not used, if the full facility used has been settled.

Does Bizcash buy my debtor invoice?

No, we simply use the invoice as an indicator that you will be collecting cash from your debtor in the near future.

Does Bizcash collect the cash from my debtor/client?

No, your clients continue to pay you as usual.

Will Bizcash give me a loan to pay my creditors?

Of course, you could simply request a business loans facility and use the funds for whatever you choose.

May I use the business loan for whatever I want?

Yes. It could be you need business funding for procuring stock at a discount, expanding production, or hiring new talent. You know best, so we don’t judge.

Is it a revolving credit facility?

Yes. As you pay back your monthly installment, your credit facility becomes available once again

How secure are Bizcash loans?

Entirely secure. Bizcash is financed by Alternative Finance Solutions, a member of the Preference Capital Group.

Is the information I submit treated confidentially?

Absolutely, your information will only be used by our team to obtain an application result.

How do I know I can trust Bizcash?

Your information remains completely confidential and will not be disclosed to third parties.

Do I need to come to your offices to sign/apply?

No. The application process, documentation and uploading of your information is completed on-line

What are your interest rates?

Please visit our Pricing page to view the interest rates and terms available.

What is my username?

Thank you for registering with us. Please use your email address as your username.

Do I need to provide security?

Possible Yes. This would be based on the financial documents received and is a credit decision which would be discussed with you direct by a consultant if needed.

Do I need to sign personal suretyship?

Possible Yes. As we are partnering with you and investing in your business and this is based on a 50/50 partnership.

Would registering for a Bizcash facility affect my relationship with Debtsource?

Not in the least, Bizcash has partnered with Debtsource, to provide you with a unique fintech system in order to assist you with additional cash flow options.

What if I need a higher facility?

You can simply request a limit increase on the profile.

Would there be additional information required for an additional facility?

Depending on how much conduct of history we have on your company, updated document will be requested in order to increase the facility.

Do I need to pay back the initial facility before I can apply for a limit increase?

No, you don’t, you can apply at any time after 3 months of using the facility for a higher limit.

How long would it take to approve an additional facility?

You would receive an answer within 3-5 working days, depending if additional documents were received if it was requested.

Does Bizcash refer to credit bureaus for information on my business?

We do refer to credit bureaus to get a better understanding of how you have conducted your finances in the past and present.

Does my credit record matter?

Yes, as this would affect the decision of the credit committee on how much is granted and whether to proceed further or not and could result in a decline if its negative.

Can I apply if my business is in business rescue, liquidation?

Unfortunately, not, the business would need to be reflecting a profit.

Can I apply if the business or any of the directors has a judgement?

You can apply; however, the judgement would have had to be resolved or there needs to be a form of proof that it’s in the process of being resolved.