For more information about applying for a Business Fuel business loan, read through our FAQs.

You can either:

  • Apply online within minutes OR,
  • Call Business Fuel and a consultant will help you complete your application telephonically.

Once the application process has been completed, your dedicated consultant will request you to submit certain documents for evaluation. Once approved and your loan agreement has been signed, pay-out into your bank can be done that same day.

When you apply, we will allocate a dedicated Business Fuel consultant to work with your application. Your consultant will address any queries you may have during the lifetime of your loan, as well as assist with any further lending request you may have.

For all approved loans, funds will be available within 3 days from the date Business Fuel receives the required supporting documentation.

We take a number of factors into account when structuring your funding solution. There is no simple formula, but we work in three categories to determine an overall score.

  • Business Stability
  • Financial Metrics
  • Credit History

To kick-off our quick analysis and provide you with a preliminary offer we need:

  • The most recent 12 months’ of bank statements for your business

Depending on the loan value, we may also require:

  • Latest management accounts
  • Latest annual financial statements
  • SARS Statement of Account (VAT & PAYE as applicable)

We require at least one year of trading history and a turnover of more than R1 million. As a start-up business, these criteria would not be met. However, where a business already meets these requirements and wish to pursue a new idea within the business, the business would be eligible for assistance from BusinessFuel.

We do not provide funding to purchase an existing business, even if it has been trading for at least a year. We primarily look at the past operations of the business to make a funding decision – past operations may not necessarily be indicative of future operations following a change in management. We would therefore prefer that management has been running the business for at least 6 months.

What is this Direct Bank Connection?

We use a third-party provider who uses an automated process with bank-level security to pull transactional data from your bank account(s) and instantly provide these to us. This completely removes the need for you of locating your 12 months of bank statements and thereby fast-tracking your application. We only require the bank statements of the company which you are authorised to represent and therefore we do not require your personal bank statements.

Why do I have to provide my online banking information and what does Business Fuel do with it?

When providing your online banking username and password details, the system uses these to log into online banking on your behalf, without human intervention, and securely retrieve your bank transactions for the last 12 months. Business Fuel does not receive, store or have access to your login credentials. Our third-party provider does not store login credentials and all traces of the details are destroyed after the login process is complete. Bank-level security protects your information.

Can Business Fuel, or any other person, transact on my account?

This is a read-only connection and no transaction(s) can be processed. The system can only retrieve your transactional data.

How does a BUSINESS FUEL BUSINESS LOAN WORK?

Find out exactly how a Business Fuel business loan works, by perusing the FAQ’s listed in this section.

Our loans are initially structured over a 12-month period to help keep your instalment, as a percentage of your revenue, as low as possible. We can also structure this over a shorter period. In addition, you are welcome to deposit additional capital at any point to reduce your interest charge and shorten the repayment period of your business loan.

You can also access funds by withdrawing additional repaid capital at any time or refinance your facility once 50% of your capital is repaid, effectively extending the term of the loan.

You are welcome to deposit additional capital at any point to reduce your interest charge and shorten the repayment period of your business loan.

You can also access funds by redrawing additional repaid capital at any time or refinance your facility once 50% of your capital is repaid, effectively extending the term of the loan.

You can access funds by redrawing excess repaid capital at any time or refinance your facility once 50% of your capital is repaid.

We submit a weekly or monthly debit order to your bank account.

We charge no initiation, paperwork or administration fees.

We apply a monthly interest rate of 3.5% per month on the outstanding balance of your loan. Therefore the interest charged to your account reduces over the term of the loan. This results in a total interest charge of roughly R24 000 for each R100 000 borrowed over a 12 month term, or put differently, the equivalent to a 2% flat rate per month.

Try our calculator here

WHEN BUSINESS FUEL IS THE RIGHT CHOICE FOR YOU:

  • To expand and take advantage of new opportunities
  • To finance short-term or seasonal working capital requirements
  • To restructure debt and reduce funding costs
  • To access cash flow to address short-term business obstacles
  • To bridge the gap between customer orders and supplier payments
  • To access discounts for early settlement
  • To unlock cash flow tied up in a property transaction
  • To access cash against underlying security

WHAT OUR CLIENTS HAVE TO SAY...