Are you interested in the well-known company, Capitec? Would you like to obtain the funds so as to improve your business? Let me tell you that although this company does not offer single business loans, it does have many loans that can serve for business usages. Which is why if you are here it is important to continue reading the article, as you will really profit from it.
LOANS AT CAPITECT FOR BUSINESS POSSESSORS:
Whay are loans at Capitec important?
Capitec is concerned with the granting of loans that are hugely personalized which means that the company will only offer you a loan that adapts to your financial conditions, and that means the lowest rates and fees. Moreover, you can use their loans for multiple usages, such as to make improvements to your house, pay school tuition, purchase a new car and the list can go on forever.
What are the features of Capitec loans?
-You can obtain a maximum of R 250 000 in a period of 1 month or even 84 months
-You can observe how the application is quickly approved
-You can make monthly installments
-Repayments are fixed and must be paid on a monthly basis
-The interest rates will never surpass 12.9%
-You can use the company´s online app so as to handle your loan
-You can make use of online application
-You can apply at one of the company´s physical locations
Now, the requirements are these ones: having a decent banking and credit score and showing with a statement what is the value of the expenses you pay each month and your income.
Please remember that is also important for you to be employed at the time of applying for the many loans found at Capitec and if it happens that you are self-employed the company will ask you to give them a report with the salary you possess and the different payment dates.
Before moving on with the documentation needed, let me stress the fact that the company will grant you a special insurance for those loans that take up to 6 months, so as to cover not only the finances of the client but also its health and wellbeing.
This is the documentation needed for a loan with Capitec:
-Your Id book or card, and of course being 18 years old or more
-Showing a proof of residence which demonstrates that you currently live in South Africa
-Your latest salary pay slip
-Statements from your bank, which must be 3 months older, not more than that
-Information regarding the different transactions you make with your bank on a monthly basis
-Information of your balance
More benefits of operating with Capitec:
-You can make as many purchases as you want with Cash Back
-You can make balance inquiries
-You can make cash withdrawals
-You can easily apply by choosing several means of application
-You can have access to fixed interest rates that are very competitive
-You can make use of debit and credit card
-The bank accepts cards such as American Express, Diners Club and also RCS
-The contract will last for 30 days
-You will receive support throughout the entire loan procedure
-The company will never make you pay new fees
-You can still use your bank account
I would also like to mention the fact that the loans found at Capitec are really easy to be used since you only need to sign in the company´s website. How does that work? You must create a user and password and then enter the company´s website.
Now, before moving on with the contact information, I would like to introduce two important services offered at Capitec for Business owners that are looking forward to make their business expand or those that want to settle a business from the beginning and have no idea:
WORKPLACE BANKING
How does Workplace Banking works at Capitec?
You probably know that sometimes it is not easy for customers to getting in time to the bank because there is strike, the bank is closed or because there is a long que and the client cannot wait tons of time inside the institution. Which is why, throughout this service customers can easily handle the loans or any other transactions they are carrying out with the bank from the comfort of their homes.
These are the benefits obtainable with the service:
-It is free of charges
-The client can choose the workplace
-The client chooses the time
-The client will never miss work because of banking transactions
-The client can become more productive
And now, the second service obtainable at Capitec:
FINANCIAL BUSINESS PROGRAM
The main feature of this program is that it is also free of charges and that it enables the company to give employees skills regarding financial sustainability that helps them save money in the long term and also make wise decisions in terms of their use of their finances.
These are the benefits that come along with this program:
-The client can manage its finances
-The client can wisely invest and save money
-The client can find a cover for their finances
-Clients can consolidate debts
CONTACT INFORMATION OF CAPITEC FOR A BUSINESS LOAN
-There is a free phone number clients can phone, which is the following: 27 21 941 1377. That number is extremely useful when you are calling from another country too, so please make sure to keep it so you can call any time.
-You can contact Capitec in its website, where you can find information about loans, insurances, a section for help center and also the frequently asked questions.
-There is a branch of the company in Johannesburg inside shop 1 of this address: 28 Harrison Street.
In the next chart you will be given full data about Capitec also:
|
Quote |
From R 1000 on |
|
Interest Rate |
Personalized |
|
Telephone Number |
0860 10 20 43 |
|
Address |
1 Quantum Street inside the Techno Park in Stellenbosch |
|
Working Hours |
Business hours |
|
Requirements |
Your modernized bank account, reports from the bank, pays lips and ID card |
|
Email Address |
Preguntas Frecuentes
I need a r80 000 loan to purchase a car for my business, please advise as to what is required from me to see if I qualify for the loan
Capitec only asks their applicants to prove their income, basically. Apart from your South African document and proof of address, of course. As you say you own a business, there is one requirement your company must follow: Capitec will check your company is registered as a corporation, association, Incorporated, trust or, public / private company. Of course, you need to prove your company makes sufficient profit.
I need a loan to start a house renting business, so I need money to build that property
Capitec grants a maximum of R25000 per loan request. If you think you can take advantage of that amount to start your business, you can send them your loan application. However, bear in mind, that they don’t grant loans to self-employed and, that the business has to be registered on Association not for gain, Inc., Close Corporation, Public or Private company or Trust.
Hi. My name is Rosina and I want to open a business but I don’t have enough money. I need a loan from Capitec. I want to make rooms for people to stay there and pay me every month.
Hello, Rosina. Before thinking about a business loan, you have to be sure to receive a steady income every month to be able of cancelling the installments. If you relate to this situation and think your income can afford the payments, you can contact Capitec for them to study your economic condition and decide on the best offer for you.
Can l get a loan to start a business using my bank details? Because I'm not working but I have fashion designer talent
Unfortunately, it’s imperative you have already a regular income or profit for Capitec to accept your loan application. They decide not to grant loans to self-employers like, for instance, freelancers. Actually, you probably won’t find an entity granting a high amount of money if you can’t prove a monthly income. Another alternative could be if you present a guarantee of the loan, that is, you secure the money borrowed with an object of high value.
How long does it take to apply for a loan?
Applying for a loan at Capitec is a simple procedure to carry on. All the same, it may take longer if any document you submit presents any type pf problem. That’s why, it’s important you make sure they all read clearly and, they comply with what Capitec asks for. Apart from that, you will have to wait for a few days until the company processes and sets your loan terms.
Is a business plan needed?
Any company you work with, will analyze the chances of success your business has as, they won’t lend money if they’re not sure about that company being able of returning it. What’s more, any business needs a plan to start working so, when you do it, you may show them to Capitec as support of your company profit.
What are the requirements for a business loan application?
On one side, as regards you, it’s necessary you present your document as a South African residence, pays lips and bank statements. On the other side, as regards your business, it’s obligatory you have registered it. The possibilities are as Trust, as Close Corporation, as Incorporated or, as Private or Public company. The last requirement is that you visit a Capitec branch to start the application.
Can I obtain a loan for my child´s tuition?
Yes you can
I currently have a small business which I would like to expand. Will I be able to apply for a business loan?
Of course! In fact, Capitec sure has exactly what you need to expand your business. This bank will assess your financial affordability to select the best rates and terms for your economic situation. Then, you’ll have up to 84 months to cancel the credit. A detail you probably want to know is that interest rate starts at 12.9 %.
Is it possible to pay every two months?
No, every month repayments should be made
Hi I'm a restaurant owner interested in buying a coffee shop. How should I apply for a business loan? Thanks
The first thing you must pay attention to is to gather the documents: your ID, salary slips and bank statements where your income is reflected. Also, your biasness must be registered as Incorporated, Close Corporation or Trust, for example. After those two points, you have to visit Captec’s office with all the documents as, this kind of loan can’t be asked online.
Can I obtain an insurance?
Yes you can
I need a cash loan of r30000
Excellent! You just have to get together the documents they need to check your qualifications and to calculate the terms of your loan. After that, you’ll be capable of analysing if what they propose works for you. The good news is that, as they take into account your particular situations, the chances of getting terms you can benefit from are high.
I have a business account at Netbank, but there is no movement of cash. Now, I got a tender of 1,900,000,00. So I need money to start the project
Unluckily, Capitec bank’s maximum quote to borrow money is 250000 rands as, they mainly focus is Personal loans. When clients take business loans, they do it in their personal capacity. This means, those loans are issued based on the person’s affordability, not on the business profit. You may take a look at Standard Bank as, they offer a more complete package for businesses.
I have an existing business that it’s been almost 7 months in operation, my monthly return is r107000 with r27000 in swapping machine. Can you assist me with an amount of r125 000? I have a collateral as a security
I want to clarify that Capitec grants business loans but, not on the business capacity but the client’s. What Capitec allows is that those who receive their monthly income from their business have a chance to get a loan. The company evaluates your credit record before accepting your loan request. So, upload your information to Capitec to have the official answer.
Can Capitec help my company with a loan of r150 000.00 to start a 4 months contract awarded by municipality? That will help the company to be known and also be able to develop hidden talents in rural communities
You can get help from Capitec but, you must know the loan will be issued on your behalf. This means, it will be issued like a personal loan on the client’s personal capacity with the purpose to improve the business and, Capitec will consider the profit you make with such business to check affordability.
How to apply for a business loan through Capitec?
The first step to get a loan from Capitec for your business is to get the documents you have to present. They’re the same as for personal loans with Capitec. Besides, the registration of your business is imperative. It can be registered as CC, Ltd, Pty Ltd, Inc. or Association not for gain. Then, you have to visit one of their branches as, they don’t permit online application for loan business yet.
Can I get a loan at Capitec to start a business?
No, what Capitec offers are loans to clients which are self-employed and are business owners. The meaning of this is that they consider people who are, for instance, shareholders capable of supporting the cost of a loan thanks to the profit they make form their company. The business must be already running to get the loan approval.
Hi I would like to open a liquor store in Kwazulu Natal but I need finance. Can you help me? thank you
If you need funds to open a business, you must have a clear business pan first. If you already made it, you have all our documents ready and, you know the details of what you need, you can get in contact with Nedbank to see if they will accept your application for a Start-UP loan. They can assist you if you need, for example, capital to get the machinery to make revenue.
I want to startup a business, can you assist me?
Of course we can! In this case, Capitec is not the answer as, you should already have a running business to get a loan from them. However, you can take a look at Nedbank as they have products specially customized to assist the peculiar needs businesses often have. In fact, they have one plan to assist owners when they decide to start the company.
I need a business loan that’s r100000
consultants to see if your affordability evaluation allows you to enjoy the loan. After you discuss your options, Capitec will present you the terms for your loan. Then, you’ll find out the cost and, decide if you take the loan.
I want to begin a business and need r20000 to start what must I do please. Thanks
If you have a job from which you get monthly pays lips, you can get a loan from Capitec that you can use to start your business. Yet, if your only income would be the profit you make with your starting business, Capitec may not have the answer for you. You must look for an entity that grants loans to begin a company as, they know exactly what you need and how to manage it.
I'm looking for a business loan of 300000.00
Sadly, Capitec does not grant that amount of money on their loans. If you can adjust the quote to just R 250000, you can take the chance to see if you qualify for it. Remember, your financial situation and credit history, among other factors, will determine if Capitec can issue the amount you request. Keep in mind, the repayment term can go up to 84 months.
I am an unemployed small business entrepreneur. I do not have a fixed monthly income as a receive salary by hand from my customers. Am I able to apply for credit at Capitec?
I regret to tell you your application will not be accepted unless you can hand in all the documents required. As one of those requirements is to show your pays lips, Capitec can’t consider you a possible client because you can’t prove your monthly income. In your case, you must look for a bank that accepts self-employed workers, like FNB.
I would like to start a business making pvc furniture. I would also be doing maintenance like electrical, plumbing and tiling. I need a startup loan
Even though Capitec Bank issues loans to business owners, they don’t finance business. They can issue a loan on your name (providing you can prove you get income enough to pay for the loan) and, you can use the funds to invest it on your company. However, you might find more suitable help with, for instance, Nedbank as, they do prepare loan to fit business needs.
We were awarded a multimillion contract and need funding. How can you assist?
At Capitec you will find several options of business loans that might be just what you need. However, being awarded a contract is not enough, you will need to comply with all requirements for business loans established by Capitec. The bank will ask for the registration documents of your company and financial information.
How many types of business loan are there?
There is one type of business loan offered by the company. If you earn a salary per month and are a shareholder of a trust, an NPO, or a private company, you probably qualify for a loan. The company grants up to R250000 to those clients who are self employed and receive a salary from their own business.
Why capitec does not offer loans to business only to individuals?
Capitec Bank does not only offer loans to individuals. If you own a company, a NPO or a trust, for instance, you can absolutely ask for a loan at this bank. You can request the maximum amount of R250,000. The difference with this loan in regard to other business loans offered by other entities is that you will borrow the money in your personal capacity.
Why Capitec bank is not offering loans to business clients and only to individuals?
Capitec Bank does not only offer loans to individuals. If you own a company, a NPO or a trust, for instance, you can absolutely ask for a loan at this bank. You can request the maximum amount of R250,000. The difference with this loan in regard to other business loans offered by other entities is that you will borrow the money in your personal capacity.
Types of loans that you offer please?
As a business owner you can ask for a loan of R250,000 at Capitec Bank. For you to qualify for these loans you will need your ID, three slips of salary, and bank statements showing the deposits of those salary payments. Your business must be registered as a Corporation or association not for gains, for example.
Why don't you offer business loan for clients?
Business owners can ask for loans of 250,000 rands. These are loans targeted to self-employed people who receive income from their own businesses such as trusts, private corporations or incorporated corporations. These loans are not for self-employed individuals who have no means of proving that they have montlhy income from their activity.
Do I need to come to the branch to make a bussiness loan?
Yes, up to this moment, if you want to ask for a business loan at Capitec Bank, you will need to go to the bank. Fortunately, there are many branches around the country. So, what you need to do is find the branch nearest to your location. Capitec is planning to launch an online application soon.
Hi I would like to apply for a business loan from you but can't seem to contact you. Kind regards. Straight line site engineering
If you comply with all the requirements for the loan offered by Capitec to business owners, you will have to go to a Capitec Branch Bank. Find a branch near you and go with your ID, latest payslips and bank statements and you will be told how much money you can ask for.
Can I get a loan to start a business?
Certainly, yes. To apply for a loan with Capitec Bank to start a business, it is important to take into account certain details. The company offers a financial solution to meet your needs with competitive interest rates and flexible repayment terms. You need to show a copy of your ID, proof of residence, latest payslip, recent bank statements and information of your account balance.
I'm looking for a business loan for my tenders. I need money to start working from a tender, but I have a tender from the school.
If you are looking for a business loan for your tenders, you can obtain some money to start working with Capitec Bank. This company offers lines of credit to people with small businesses. You can obtain up to 250,000 rand, depending on your income and affordability capacity. Clients only need to pay a 65 rand monthly fee.
I bank with Capitec. We are looking at purchasing an existing business with a dual business loan application to the amount of R1m. We have given financials, business plan and collateral, would I need a property in my name to obtain such a loan?
If you are banking with Capitec Bank and you are interested in a business loan of about 1 m rand, there are some criteria you should follow in order to be eligible. Your business need to have at least 2 years of operation in the market, for instance. Also, depending on the amount (apart from a business plan and a collateral), you will need to show a property owenership as a security.
Can you assist me with a loan startup for my company?
Of course, Capitec Bank can help you with a loan startup for your company. The basic requirements are that you have a positive credit history and a bank statement or steady income to afford the monthly fees. There will be other extra documentation asked such as proof of identity and residence, but the process of application is quite simple.
If I'm not working, can I still get the business loan?
If you are not currently working, it will be a little bit difficult to apply for a business loan with Capitec Bank, as the entity needs to make sure you have enough money to pay back the loan. However, you can still apply for it, if you present a business plan, have an account, show a good credit history and affordability capacity. The bank will analyse your entire financial situation to determine if you qualify or not.
Good afternoon, I am operating the recycling business. I do need a loan of R50,000 just to help me fix some equipments to be able to continue operating the business. I am selling my materials to Mpact recycling in Richard's Bay,Sen Lida chemicals, and I am getting R30000-R53000 monthly. So could you be able to assist me. Note, I have the FNB bank account since I opened the business.
Of course, you will be able to obtain a business loan of about 50,000 rand with Capitec Bank in order to fix some equipment for your recycling business. In order to qualify, it is important to comply with all the criteria such as gathering all the required documentation, showing a business plan, and being subjected to a financial analysis.