Application / Application Form:
The fee payable only:
- After a Funder has Approved a deal for you. This fee covers the work we have done up to this point, together with the skills it has taken to get your Application Form to the Approval stage.
- And you have received the Approval Terms.
- And you decided to accept the Approval.
>R0 to R1m.
>R1m to R5m
>R5m to R10m
>R10m to R30m
>R30m to R50m
>R50m to R100m
This Fee is only due should a Funder Approve a Facility, And you choose to take up the Facility.
If the Funder approves a lower value than the Application Form requests and you want to continue with the Approval, the Approval Fee will be reduced in line with the Approved value by the Funder i.e. if you apply for R5.5m and the Funder approves R4.7m, then your Approval Fee will within the lower Approval Fee structure and you will pay a lower fee.
On a fluctuating facility such as a Debtors Book (Invoice Financing) or any other fluctuating facility where the Funder does not limit the amount you have available, the Approval Fee will be based on the value of the Balance Sheet Asset being used as Security. Should the Asset being used as Security have more than one valuation, the higher value will be used as per the documents provided to Beyond Banks and the Funder. The Approval Fee mentioned in the above matrix is exclusive of any VAT due.
Approval / Approval Document / Term Sheet
- The Approval Amount
- The type of Facility
- The Interest Rate Charged
- Any other charges
- The time period the Approval Document is offered for. Typically an Approval Document is open for 7 working days. After that, the Approval will become null and void
- Any Security needed
Fixed assets refer to items such as property (house, apartment and sometimes vacant land), and large machines that cannot be moved easily. Movable assets refer to items such as the Debtors Book and items in the business premises that are easily moved.
Community of Property / Married in Community of Property
Customer / Debtor / Trade Receivables / Accounts Receivable
Creditor / Supplier / Trade Payables
If a property is valued by a certified valuer at R1million and outstanding bond is R400k, then the equity in the property is R600k. This is based on you selling the property and moving out. Remember that a Funder will never give you 100% of the equity value, and a percentage of the equity value of between 40% and 80% is normal in the business finance world.
So in the above example, the equity of R600k, would equate up to R480,000 as a Facility for you.
Not only property is an Asset. Many Funders will look at other Assets too: Vehicles, Debtors Book, Stock Holding, Contracts.
Judgement (Court Judgement):
Loan: Interest only, then repayment:
Loan: Fixed repayment
Loan: Interest Only
Security / Collateral:
Security is almost always linked directly to the type of Approval made available by the Funder.
If the shareholders in a business are not prepared to believe in the ability of the business to repay the debt, the funder will certainly not be able to believe in the business to repay the debt.
Stock / Stock Holding:
Turn Around Time:
We push our Funders to provide an answer within 3 working days (1st day calculated after receiving all the information we ask for).