Are you in need of a business loan but don’t know where to start? Capitec has you covered with their range of business loans.
In this blog post, we will take a closer look at the requirements, startup costs, and calculators for their business loans. So whether you’re just starting out or need some extra funds to grow your business, read on for more information.
Capitec Business Loan Requirements
To be eligible for a Capitec Business Loan, you must have been in business for a minimum of two years and have generated a minimum annual turnover of R1 million.
You must also provide proof of good credit history and be able to provide full financials for your business.
If you meet these requirements, you can apply for a loan amount between R50 000 and R500 000, with terms of up to 60 months. The interest rate on Capitec Business Loans is fixed at 19.5%, making it one of the most competitive rates on the market.
Capitec Bank Business Loan Application
To apply for a Capitec Bank business loan, you’ll need to complete an online application form. The form will ask for basic information about your business, including your annual turnover and the amount of money you’re looking to borrow.
You’ll also need to provide some personal information, such as your ID number and contact details.
Once you’ve submitted the application form, a Capitec Bank representative will get in touch with you to discuss your loan options.
They’ll also arrange for a meeting so that they can assess your business’s needs and financial situation. Once all of that is sorted, you should have an answer on whether or not you’ve been approved for the loan within 10 working days.
Capitec Startup Business Loans
If you’re looking for a business loan, Capitec is a great option. They offer loans specifically for startups, and their rates are very competitive.
So if you’ve been thinking about starting your own business, Capitec could be a great option for financing.
Capitec Business Account
A Capitec Business Account is a bank account that is specifically designed for businesses. It offers a range of features and benefits that are tailored to the needs of businesses, including:
- Low account fees
- A wide range of banking products and services, including debit cards, credit cards and loans
- Easy online banking and mobile banking facilities
- The ability to manage your business finances in one place
To open a Capitec Business Account, you will need to provide certain documents such as: your company registration documents, proof of directorships or ownership, a recent payslip or sworn affidavit if self-employed, and ID for all directors and owners.
You can apply for a Capitec Business Account online. The process is simple and you can have your account up and running in no time.
Once you have opened an account, you will have access to a range of benefits including:
- A free business debit card for your employees
- Free business banking from anywhere in the world, 24/7
- The ability to issue invoices and manage payments online
- Automatic money transfers between your business and personal accounts.
Capitec Bank Business Loan Calculator
If you’re a small business owner in South Africa, you may be considering a business loan from Capitec Bank. Use this calculator to see what your monthly repayments would be.