Fundrr

Applying for a business loan with Fundrr is the fastest way for you to receive the funds needed to grow your small business.

The idea of Fundrr was born in 2017, and by the end of 2018, it had grown into a fully fledged lender to SMEs. Founded by entrepreneurs, they’re in the unique position of understanding the needs of small businesses from a unique vantage point.

No surety? No problem!

Applying for a business loan in South Africa can be a rather lengthy process with no guarantees that your loan will be approved. Fundrr’s solution to that is providing you with an option that takes a fraction of the time and doesn't require surety.

Fundrr is interested in seeing your business grow. They’ll tailor a loan to suit your needs and offer you flexible repayment terms. An example of this is their willingness to accept repayments on a daily, weekly or monthly basis.

Loans of up to R5 million

You can apply for between R20,000 and R5,000,000 with a fixed interest rate with between 3 and 12 months to pay it off. Your loan could be approved within hours, and once approved, funds could reflect in your account before the end of the day.

For example, if you were to borrow R100,000 and would be willing to pay it off over 6 months, you’ll be charged a fixed interest rate of 17%. To pay this back you can choose one of the following options:

• R19,500 per month
• R9,740 bi-weekly
• R4,493.09 per week
• R780 per day

Best of all you pay no application, administration, or membership fees. Fundrr is a tech savvy lender who understands that small businesses are the lifeblood of South Africa. To that end they want to smooth your road to success.

Fundrr offers you more than just a business loan.

They invite you to make use of their partner offerings and brokering schemes. This service comes in handy when you’re having problems with slow debtors or suppliers who can’t deliver. This is a fantastic networking opportunity.

They’re a member of the Alpha Code group. Alpha Code was launched in 2015 by RMI (Rand Merchant Investments). The purpose of RMI is to shake up the landscape of South African financial institutions to encourage change and growth.

Alpha Code finds and supports entrepreneurs in the financial sector and creates opportunities for them to flourish. Fundrr takes great joy in lending a hand to local entrepreneurs.

What makes Fundrr a better option than traditional banks?

As an SME, apply online for business loans through a bank is a double-edged sword. Banks can offer you more attractive interest rates and their terms will be fair but, at the expense of flexibility.

On the other hand, because they’re large financial institutions, they operate from a profit point of view and don’t take the volatile and complex nature of running a small business into account.

Advise and tools to start and grow your business

You can also check out the blog section on Fundrr’s site where they offer free financial advice and a few tips on how to build up your business.

With fundrr there are no hidden costs. If you decide to settle your loan early you’ll save money since Fundrr won’t charge you early settlement fees.

They have branches in Cape Town and Johannesburg. You can contact them by email, phone or even using social media. They encourage you to contact them with any questions.