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Frequently Asked Questions
Why Choose Smart Business Loans?
Smart Business Loans is part of the larger FINCHECK group, known in South Africa as the biggest independent, free comparison website. The FINCHECK group has designed Smart Business Loans to allow business owners the ability to quickly and effectively compare business finance options.
How does Smart Business Loans get me a lender?
Smart Business Loans compares business finance options for you. As the business owner – you simply need to complete the application form, which includes what you are looking for. From there, we have an algorithm that will work through your answers and match it to partner criteria* Based on these results, our engine will present you with business finance and partners that could best suit your needs. This whole process only takes a couple of minutes. *Please note these results are not suggestions or advice from Smart Business Loans or the FINCHECK group, but are results based on your needs and partner criteria.
Does Smart Business Loans charge me?
Smart Business Loans is free of charge.
Do I need a business plan to get a loan?
You may not need the typical business plan. The more important metric when it comes to business finance is your business history. Most of the companies who will offer you finance will require a 6- month track record of your business incomes and expenses.
Do I need collateral?
Yes, you may need to provide collateral.
What is collateral?
Collateral is used for secured lending. It is simply another asset you have which is equal in value to the loan size you are asking for. A company that offers you business finance may ask for collateral. This will be necessary for them in the event that you are unable to repay your loan amount. It is at this point that they will be allowed to sell that collateral asset in exchange for the outstanding loan amount.
How do I apply for a business loan?
- Complete the basic information form
- We will present you with information on various companies who meet your requirements
- You select the company
- They get directly in touch with you
- You've got your new business loan!
How do I know what business finance I need?
This is an important question to ask before you apply for business finance. It will be dependent on a couple of variables and our information gathering process allows us to untangle these variables. Complete the following forms (link) and we will see what options are best for you.
What business finance categories can I compare on SmartBusiness Loans?
You will be able to compare options between, merchant cash advance, invoice discounting, unsecured loans, secured loans, asset finance, online payment gateways, all business related bank accounts.
Smart Business Loans is a business financial comparisons website. Smart Business Loans has partnered with numerous banking and non banking lenders to provide the user a simple application for multiple providers. Lenders benefit from an additional market place and extensive customer reach. Loan amounts vary from lender to lender. Fees, interest rates, loan amounts and credit scores influence the repayment terms. Lenders require personal and company details to control their risk and assist the government to combat theft, money laundering, terrorism. Smart Business Loans does not endorse any particular product or company. We are an independent company acting as a subsidiary of Finch Technologies (PTY) Limited. The information shown and provided is an opinion, based on numbers and must not be seen as advice or consultation.