Whether your business is starting up at the back of your dad’s garage or it’s booming with more branches, you’ll need access to liquid cash to accelerate your business growth. In case of an emergency, an opportunity or possible growth, sometimes money isn’t always available immediately. That’s where iK Cash Advance comes in handy.
The good news is, you don’t have to break your bank because we’ve made a way to give your business a boost for wherever it needs to go.
Firstly, what is a cash advance?
A cash advance offers businesses fast access to money they need with less restrictive credit requirements and time constraints than most traditional lending methods.
Let’s get into why you should take an iK Cash Advance.
How Can An iK Cash Advance Help You?
1. It Can Help Your Business Survive or Thrive
Are you looking to take advantage of new opportunities like investing in new equipment or employing more staff? Would you like to accomplish your 2023 strategic business goals? Do you have the desire to renovate your space? What about expanding your service delivery to reach new customers? Or are you trying to recover from a tough month?
Whatever you need, iK Cash Advance offers a cash injection to help you stay in business and sustain your business growth. It’s a short-term boost for your long-term success.
2. You Pre-Qualify if You're An iK Merchant
More than 65% of our iK merchants who’ve taken out the cash advance have experienced growth and come back for more. Why? Our requirements make it easy and practical for you to be approved.
You qualify if you:
- Have traded consecutively for the past 3 months
- Trade at least 3 days a month
- Complete a minimum of 10 card transactions a month
- Completed a card transaction in the last 15 days
- Turnover at least R2 500 per month
- Have an average monthly turnover higher than R3125 over the last 3 months
3. No Compound Interest
The same way we make it easy for you to take out an iK Cash Advance, we make it equally easy for you to pay it back. You can repay your iK Cash Advance with a percentage of your future transactions. Best of all, it’s a flat fee with no compound interest.
4. We Customise Your Offering
iK Cash Advance is tailored to your needs. Based on your trading history, we’ll make you a custom offer for your business on the iKhokha app. You also have the flexibility to pick the amount you need (anything up to the amount you qualify for) and choose the pay-back period that works for you.