What Is a Cash Advance Loan? iK Cash Advance Explained

Whether your business is kicking off in your dad’s garage or you’re already managing multiple branches, we all hit those moments where we need a little extra cash. Maybe you’ve got a big opportunity, a surprise expense, or you're just trying to keep things moving during a slow month. That’s where iK Cash Advance steps in.

The best part? You don’t need to stress about draining your savings or jumping through hoops. This is smart, simple funding made just for iKhokha merchants.

So, What’s a Cash Advance Loan Anyway?

Think of a cash advance loan like a business lifeline. It gives you quick access to cash based on how your business is already performing. No lengthy applications, no credit score nightmares. Just a fast, flexible offer you can find right in your iKhokha app. With iK Cash Advance, your business can move forward without the financial hold-up.

4 Reasons to Take Out an iK Cash Advance

Here’s why so many South African business owners are choosing iK Cash Advance:

1. It Helps You Get Through the Tough Times, or Level Up

Need to restock? Want to upgrade your equipment? Thinking of hiring someone new or opening another location? Whether you’re trying to survive a quiet season or scale your business, iK Cash Advance gives you the wiggle room to do it. It’s quick support when you need it most and it's built with long-term growth in mind.

2. You Might Already Qualify (Yes, Really)

Here’s the cool part, most iKhokha merchants already qualify. Over 65% of merchants who’ve tried iK Cash Advance have come back for more. Why? Because it works.

You qualify if you:

Have been trading with iKhokha for 6 months
Trade at least 3 days each month
Process 10 or more card transactions per month
Made at least one sale in the past 15 days
Turn over at least R2,500/month (with a 6-month average of R3,125+)

Simple, right?

3. No Nasty Surprise Interest

We like to keep things clean and fair. That’s why iK Cash Advance charges a flat fee, no compound interest piling up in the background. And repayments? They come straight from a small percentage of your future card sales. So, on slower days, you pay less. On good days, you’re done faster. Easy does it.

4. You’re in the Driver’s Seat

You don’t get a one-size-fits-all deal. We look at your trading history and offer something that actually fits your business. You choose how much to borrow (up to your limit) and pick a repayment term that works for you. Flexibility is the name of the game.

How It Works: Step by Step

Ready to see how straightforward this is?

1. Open the iKhokha App: If you’ve been trading consistently, you’ll see your custom offer under “iK Cash.”

2. Review Your Offer: Choose your loan amount and repayment terms.

3. Accept & Get Funded: Once you accept, the money lands in your account—often within 24 hours.

4. Repay As You Trade: A small percentage of every sale goes toward paying it back. No pressure. Just progress.

iK Cash Advance vs. Your Regular Bank Loan

Let’s keep it real, bank loans can be a hassle. They usually come with long waiting periods, loads of paperwork, and strict repayment terms. Plus, you’re often hit with compound interest that keeps adding up. In comparison, iK Cash Advance is fast, flexible, and way easier to manage. Approval takes as little as 24 to 48 hours, and there are no credit checks required for offers under R500,000. Repayment is linked to your sales, so you only pay a small percentage of your daily card turnover meaning no stressful monthly instalments. And the best part? You only pay a flat fee, so there are no surprise costs waiting down the line.

How to Get Started (And Keep It Going)

Getting started is as simple as doing what you’re already doing:

Make sure you’ve been trading with iKhokha for at least 6 months.
Open your app and head to “iK Cash.”
View your custom offer, pick your amount, and select your payback plan.
Accept the offer. Cash usually lands within 24 hours.
Need more later? Once you’ve repaid a portion, you can apply for an iK Cash Advance Top-Up.

Why It Matters

Here’s the truth: business isn’t always smooth sailing. But with the right tools and support, you can ride out the storms and take advantage of every opportunity.

With iK Cash Advance, you can: