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iK Cash Advance is a business cash advance built around how your business earns. If you qualify, you can access upfront funding and pay it back through a percentage of your future card sales.
That means you pay more when business is busy and less when sales are slower. There’s no fixed monthly repayment, no compound interest and no long application process. Before you accept, you’ll see your offer amount, repayment percentage and total amount payable upfront.
It works best for businesses that take card payments often, like shops, restaurants, salons, spaza shops and online stores, because you pay it back through your card sales.
To qualify, you need to:
Merchants saw 167% in sales over 3 months after taking an iK Cash Advance.
You can only view Cash Advance offers on the iKhokha App.
Your repayments move with your sales. Every time a customer pays by card, a small percentage goes towards your iK Cash Advance. On busier days, you pay back a little more. On quieter days, you pay back less. That means you’re not locked into a fixed monthly repayment when business slows down.You’ll see your repayment percentage and total amount payable before you accept your offer.
Your business must be trading for 6 months consecutively and have a minimum monthly turnover of R2 500 in order to qualify. Ts and Cs apply.
A business cash advance gives you upfront funding that is repaid through a percentage of your future sales. With iK Cash Advance, eligible iKhokha merchants can access funding and repay it through daily card sales.
You can use it for whatever your business needs. No one knows your business better than you, so the choice is yours.
Disbursement takes place on the first business day after signing. Your funds should be in your bank account within 24 hours of disbursement (subject to your bank’s turnaround times).
Payment is made via split processing: a specified percentage of your daily turnover will be used to pay back your advance.
Get help instantly on WhatsApp, our chatbot Kelly, or by requesting a callback.
You can also call 087 222 7000 or email support@ikhokha.com
